Thursday, 18 October 2012
After finished my degree, I always think what should I do interm of self-development. To be honest, I was confused and kind of lost. Some says its better to pursue to the higher degree by taking master or phd. The other advised me to take professional accountancy papers like ACCA, ICAEW since I got 7 exemptions. But when I looked back, my job now does not require me to take any professional papers as my day to day job more on management side rather than audit or tax. Frankly speaking, I'm interested to do research and deepen my knowledge in islamic finance. I dont mind whether its banking or takaful industry but I'm sure banking is more exciting. Even investment also looks interesting, sukuk thingy. Just now, I read newspaper regarding HSBC Amanah. HSBC, british bank, started their business with conventional bank and then expanded by developing islamic banks. The sad story here, as a one of the pioneer to the islamic banking industry, HSBC decided to pull back some of the islamic bank business. They will only focus on certain market like malaysia as it is still growing and profitable. HSBC in Britain, Singapore,UAE, Saudi Arabia are no longer offering islamic products. The good thing is, it will give local player/islamic bank an opportunity to step in and compete with other international islamic banks. Before this, with the existence of big bank like HSBC, local banks may be demotivated as compare with the size, local player knows that its pretty hard to compete. Another interesting topic reported today, islamic banks M&A (merger and acquisition) is coming soon. This will be the first islamic banks to be in the M&A interm of islamic banking industry. Currently, Affin holdings is waiting for central bank green light to accomplish this M&A. I can't wait to see these thing happen as I wanna know the impact to the industry and interm of process as well. We'll see then!