Kota Bharu, 12 June 2024 – The Faculty of Entrepreneurship and Business (FKP), Universiti Malaysia Kelantan hosted the Accounting, Islamic Banking, and Finance Festival (AIFIF) on 12 June 2024 (Wednesday), at the Entrepreneurship Hall, City Campus. This festival aimed to strengthen relationships with industry partners and equip students with practical knowledge in accounting and Islamic finance.
AIFIF aligns with Malaysia's social finance policy, including Value-Based Intermediation (VBI) and social finance initiatives. It focused on connecting students with industry experts and increasing awareness of accounting and Islamic finance. The festival highlighted Malaysia's ambition to lead in ethical finance and make sustainable progress.
According to the Ministry of Finance's Economic Outlook 2024 report, the Islamic finance sector grew at a rate of 9.1%, surpassing the traditional banking sector. Besides, the accounting profession in Malaysia has seen steady growth, with the number of registered accountants increasing annually. As of 2023, there were over 37,000 members in the Malaysian Institute of Accountants (MIA). According to a report by the Ministry of Higher Education, the demand for accountants in Malaysia is expected to grow by 4.2% annually, driven by economic expansion and the adoption of new technologies. This significant growth reflects a rising demand, underscoring the importance of events like AIFIF.
Strategic Financial Management and Cultivating Financial Stability
The festival's main session, "Strategic Financial Management and Cultivating Financial Stability," emphasized the importance of effective financial management in today's competitive business environment. The workshop explored how to analyze external environments, market trends, and industry dynamics to identify opportunities and mitigate risks. Insights were shared by Mr. Muhammad Hilal, Region Head, East Coast Sales and Channel Management, Amanah Saham Nasional Berhad (ASNB), Kota Bharu Branch, and Mr. Abdul Rahim, Branch Manager, Bank Muamalat, Jeli Branch, on maintaining financial resilience.
Trailblazing Your Career - Industry Trends and Taxation Tips
Following the opening ceremony, Prof. Dr. Hjh Zuraeda from Faculty of Accountancy, Universiti Teknologi MARA (UiTM), Selangor Branch, Puncak Alam Campus, captivated students with a presentation on accounting career paths. Students were encouraged to dream big and envision their professional journeys over the next five years, fostering a proactive approach to career development.
Pathway to Becoming Chartered Accountants
AIFIF provided a valuable networking and professional development opportunity. Two Malaysia Institute of Accountants (MIA) members from Salihin (Chartered Accountants) shared insights into the path to becoming a chartered accountant. Mr. Aliff Ikhwan, Audit Partner, and Mr. Muhammad Syazni, Audit Manager, delivered a compelling address, sparking students' interest in pursuing this esteemed professional membership and certification.
Wealth Management Entrepreneur
The festival concluded with a wealth management seminar led by Dato' Azwan Abdul Jalil, CEO of ZAAJ Wealth Management (ZAAJ). This engaging session focused on strategies for achieving financial security, growing wealth, and safeguarding it. Participants enjoyed interactive exercises that enhanced their understanding of wealth management principles.
The Islamic Banking and Finance Festival at University Malaysia Kelantan was a resounding success, providing students with invaluable knowledge and inspiration. As the Faculty of Entrepreneurship and Business continues to nurture high-performing students in academics and industry, AIFIF reinforced the university's commitment to excellence. The event empowered students to become future leaders in their fields, strengthening UMK's reputation as a top-tier institution.
