EUROPEAN WELLNESS Biomedical Group ( EW Group ), through its Malaysian subsidiary European Wellness Academie , and Dubai- based healthcare distribution and technology group , AK International LLC , signed a Memorandum of Understanding ( MOU ) to strengthen medical tourism linkages and access to Biological Regenerative Medicine services in the United Arab Emirates and Malaysia .

The signing marks a significant milestone in EW Group ’ s effort to scale up the global adoption of rapidly emerging German and Swiss medical paradigms and cell-based bio-therapeutics for the integrative management of chronic degenerative conditions and untreatable rare diseases .

Witnessed by Dato ’ Sri Ismail Sabri Yaakob , Prime Minister of Malaysia , the MOU was signed by Prof . Dato ’ Sri Dr Mike Chan , European Wellness Group Chairman , and Dr Aasif Ali Siddiqui ,

Managing Director of AK International .

The strategic collaboration seeks to set up two Centres of Excellence , one specialising in the rehabilitation , education and holistic management of pediatric neurodegenerative and neurodevelopmental disorders such as Autism Spectrum Disorder , Cerebral Palsy , Down Syndrome and Global Developmental Delay , and another specialising in the management of untreatable and rare diseases such as CHARGE Syndrome , Multiple Sclerosis , Rheumatoid Arthritis , Parkinson ’ s Disease etc .

Dr Chan said : “ We are confident our 30 years of cell therapeutic research efforts across Europe , along with a passionate team of international top clinicians trained in Germany and Switzerland , can support the delivery of an impactful and personalised disease management model to the communities in UAE .”

“ Moreover , these Centres are also

vital frontlines to assist local patients seeking biological regenerative medicine solutions at our overseas destinations to have easy access to an efficient and collaborative case referral network – from initial inquiry to preliminary medical investigation , to assisted medical travel , and finally to follow-up care .’

AK International Director Dr Aasif Ali Siddiqui commented , “ One of the goals of this MOU is to increase medical and wellness tourism in Malaysia while also offering Emiratis modern medical treatments in other countries .

“ Patients with incurable uncommon diseases or neurodegenerative disorders , for example , may have restricted access to innovative treatment alternatives , such as cell-based or biomolecular therapies , in their local area .”

The partnership is also set to explore potential investments in Iskandar Malaysia Development Area in Johor to develop a world-leading Halal Hub

for Biotechnology and Regenerative Medicine .

The unique development project valued at US $ 60 million shall comprise a 100-bed integrative medicine hospital modelled after EW Group ’ s medical facility in Germany , Muslim-centered aged care retirement villas and assisted living apartments , and a GMP-certified halal biologics and botanical drug manufacturing facility .

“ Our Group is ever ready to extend more than 50 of our proprietary plantbased pharmaceuticals with German approval for immediate production in Malaysia and export to meet the growing global demand for natural medicine .

“ This project will bring a tremendous opportunity to strengthen Malaysia ’ s vision and current positioning as the world ’ s Muslim hub for innovative biotechnology developments , especially on herbal medicine research and botanical drug manufacturing ,” added Dr Chan .

BANK MUAMALAT Malaysia Berhad ( Bank Muamalat ) registered a record profit before zakat and taxation ( PBZT ) of RM256.6 million for the financial year ended Dec 31 , 2021 , representing a growth of 46.8 per cent from RM174.8 million posted in the previous corresponding period .

Bank Muamalat President and Chief Executive Officer Khairul Kamarudin said the stellar performance was primarily driven by increased total income , strong financing growth and improved asset quality .

“ Bank Muamalat has remained resilient during the challenging period , despite the risks arising from the resurgence of the Covid-19 pandemic and restrictions which impacted business operations for most parts of last year ," said Khairul .

“ The tightening of the Covid-19 lockdowns affected individuals and businesses alike ; nevertheless , the Bank continued to assist customers facing financial constraints .”

The Group also registered growth in total assets by 7.0 per cent to RM27.6 billion , as compared to RM25.8 billion in the previous financial year . This was largely contributed by the 14.46 per cent growth or RM2.6 billion increase in total gross financing to customers , from RM18.2 billion to RM20.9 billion , as of Dec 31 , 2021 , mainly from the consumer banking segment .

The Group ’ s Common Equity Tier-1 Ratio and Total Capital Ratio remained stable , closing at 13.71 per cent and

17.35 per cent , respectively , well above regulatory requirements .

Bank Muamalat also continued to improve its asset quality , with Gross Impaired Financing positioned at 0.83 per cent as of Dec 31 , 2021 , compared to 1.07 per cent registered as of Dec 31 , 2020 .

“ Bank Muamalat has emphasised strengthening the business through its new 5-Year strategic plan by intensifying digitalisation effort , continuous expansion of its customer base and service efficiency .

“ The Bank is committed to sustainable growth through the continuous adoption of value-based intermediation initiatives in building stakeholders ’ confidence and value , “ said Khairul .

Khairul also credited the high Covid-19 vaccination rate in Malaysia , saying the speedy rollout of booster doses paved the way for the return to normalcy .

“ As a result , all domestic economic sectors are projected to expand in 2022 . After weathering the pandemic on a strong footing , Bank Muamalat anticipates a better performance for 2022 , arising from the positive momentum in 2021 and coupled with enhanced digital and technology capabilities , “ added Khairul .

Although domestic economic sectors are recovering , Khairul assured customers that the Agensi Kaunseling dan Pengurusan Kredit ( AKPK ) payment assistance remains available to customers .

THE MALAYSIAN Financial Planning Council ( MFPC ) held the 9th conference of Islamic Wealth Management with the theme “ Post Pandemic Transformation : Aligning Focus and Accessing Impact ” attended by over 900 attendees from Malaysia , Indonesia , Singapore and some leading Islamic financial markets .

By featuring well-known names in the Islamic financial industry , the key objectives of the 9th MFPC conference served as a thought-provoking platform to discuss the impact of the Covid-19 and the practical applications an individual can undertake in recovering .

The government launched the Shariah RFP designation in 2008 , and it was well-received in the Malaysian marketplace . Frontline service officers who deal with the financial advisory for members of the public in Agensi Kaunseling & Pengurusan Kredit ( AKPK ) and the Retirement Advisory Service ( RAS ) of the Employees Provident Fund , a service that is available for free in all EPF branches hold the Shariah RFP or the conventional RFP designation .

Sharifatul Hanizah , Executive

Director , Islamic Capital Market Development of the Securities Commission in her welcoming remarks , highlighted : “ To enhance professionalism in the financial planning industry , it is imperative to raise the bar on professional standards and conduct requirements .

“ The financial planning industry ’ s asset – trust – can be significantly undermined by poor conduct and affect the sustainability of the business ,” she added .

As Malaysia is at the forefront of the Islamic wealth management space , a sufficient number of human capital is required for the industry . In this regard , as a further impetus to help the sector grow , the government provides tax exemption to study Islamic finance professional designations .

MFPC ’ s president Vincent Kwo said MFPC was continuously developing its Shariah syllabus . It was made possible through partnerships with leading Shariah Islamic scholars in the country , which could contribute to Malaysia ’ s aim to continue being a leading Islamic financial education centre .