The Muamalat Newsletter Vol. 2 2024

FEM eNewsletter | December 2024 22 This global interest underscores the importance of being open to international opportunities, where they can demonstrate their expertise and contribute to the global development of Islamic finance. Following session “Preparing to Be A Leader” with Dr. Ziyaad Mahomed and Prof. Baharom Abdul Hamid, Prof. Baharom highlighted various sustainability standards like ESG, SDG, and CSR, and introduced the Islamic standards Maqasid Shariah and Value-Based Intermediation. He emphasized that while Western standards evolve, Maqasid Shariah remains constant, urging innovation within Shariah boundaries. Prof. Baharom encouraged students to provoke thought and discussion by writing about everyday observations using their class knowledge, such as how social finance could help a “makcik goreng pisang”. Dr.Ziyaadgaveanexample,sharing a case study about a successful plantation project that failed after a leadership change, emphasizing the importance of leaders having networks and succession plans. He noted that leaders must recognize their limits and seek expertise, and that the former head should have prepared for his successor. Dr. Ziyaad introduced a framework for learning and development which built with Self-Development, Education and Certification, Practical Experience, Mentor, Specialized Training, and Soft Skills. In a session on Ethical Leadership, Ustaz Adli Saad discussed the Prophetic Model, emphasizing verse 21 of Surah Al-Ahzab which presents Rasulullah SAW as an exemplary leader for mankind. He highlighted that Rasulullah SAW was not only an exceptional leader during his time but continues to be recognized globally, even being listed as the most influential individual in history. Ustaz Adli elaborated on the qualities that madeRasulullahSAWasuccessful leader, including wisdom in decision-making, necessary bravery, physical strength, and the ability to recognize and utilize the strengths of others. He also emphasized the importance of humility, showing mercy towards followers, and consulting with close advisors. These traits, supported by Hadiths and Sirah, provide a comprehensive model for ethical leadership that aligns with the principles of Shariah, encouraging leaders to innovate and lead within these boundaries while being creative and thoughtful in their approach. After lunch, Dr. Nurrul Iiyana from CGC Malaysia spoke about Personal Development and Networking Skills. She emphasized that employees are valuable assets and should perform their jobs according to their descriptions. Social media interactions can significantly impact the company, and employees should always think aboutaddingvalue to their teams. Dr. Nurrul advised learning GenAI to ease workloads, practicing Design Thinking in the Waterfall Method for project efficiency, and being humble about achievements on social media. She also recommended reading the Future Skills Framework (FSF) by AICB for insights into job roles, skills needed, and career pathways in the Malaysian financial sector. The boot camp concluded with a sessionon Future Trends in Islamic Finance by Mr. Norfadelizan Abdul Rahman and Dr. Kinan Salim. Mr. Norfadelizan emphasized the importance of oratory skills, urging students to improve them as a foundational skill for future success. He challenged students to reflect on Malaysia’s status as a leader in Islamic Finance and to consider what they need to do now to succeed in the future. He advised staying updated with current issues and acquiring unique skills. Dr. Kinan discussed the growing focus on ESG and the role of Sustainability Departments in companies, stressing the importance of mastering AI and being innovative and socially connected to remain relevant. Overall, my four friends fromUSIM and I felt honored and grateful to participate in this program. Despite its short duration, it was packed with valuable knowledge and new insights that have ignited our passion for Islamic finance. The engaging sessions and comprehensive content have inspired us to delve deeper into this field and apply what we’ve learned to our studies and future careers. I hopemoreprograms like thisare conducted to raise awareness about the advancements in Islamic finance, not only in Malaysia but also internationally. Such initiatives are crucial for fostering a global understanding and appreciation of Islamic finance principles. As Muslims, it is our responsibility to strengthen the Islamic economy, which promotes justice and well-being for the ummah. By participating in and supporting these educational programs, we can contribute to a more equitable and prosperous future for all. Prepared by: Dr. Muhamad Azhari Wahid Faculty of Economics and Muamalat