Thursday, 9 August 2012

Overview of Islamic Banking in Malaysia

Islamic Banking Industry

Islamic banking refers to a system of banking that complies with Islamic law also known as Shariah law. The underlying principles that govern Islamic banking are mutual risk and profit sharing between parties, the assurance of fairness for all and that transactions are based on an underlying business activity or asset.
These principles are supported by Islamic banking's core values whereby activities that cultivate entrepreneurship, trade and commerce and bring societal development or benefit is encouraged. Activities that involve interest (riba), gambling (maisir) and speculative trading (gharar) are prohibited.
Through the use of various Islamic finance concepts such as ijarah (leasing), mudharabah (profit sharing), musharakah (partnership), financial institutions have a great deal of flexibility, creativity and choice in the creation of Islamic finance products. Furthermore, by emphasising the need for transactions to be supported by genuine trade or business related activities, Islamic banking sets a higher standard for investments and promotes greater accountability and risk mitigation.
Islamic finance has grown tremendously since it first emerged in the 1970's. Current global Islamic banking assets and assets under management have reached USD750 billion and is expected to hit USD1 trillion by 2010.1
There are over 300 Islamic financial institutions worldwide across 75 countries. According to the Asian Banker Research Group, the world's 100 largest Islamic banks have set an annual asset growth rate of 26.7%2 and the global Islamic finance industry is experiencing average growth of 15-20% annually.3
Malaysia's Islamic finance industry has been in existence for over 30 years. The enactment of the Islamic Banking Act 1983 enabled the country's first Islamic Bank to be established and thereafter, with the liberalisation of the Islamic financial system, more Islamic financial institutions have been established.
Malaysia's long track record of building a successful domestic Islamic financial industry of over 30 years gives the country a solid foundation - financial bedrock of stability that adds to the richness, diversity and maturity of the financial system. Presently, Malaysia's Islamic banking assets reached USD65.6 billion with an average growth rate of 18-20% annually.4
Today, Malaysia's Islamic finance continues to grow rapidly, supported by a conducive environment that is renowned for continuous product innovation, a diversity of financial institutions from across the world, a broad range of innovative Islamic investment instruments, a comprehensive financial infrastructure and adopting global regulatory and legal best practices. Malaysia has also placed a strong emphasis on human capital development alongside the development of the Islamic financial industry to ensure the availability of Islamic finance talent. All of these value propositions have transformed Malaysia into one of the most developed Islamic banking markets in the world.
Rapid liberalisation in the Islamic finance industry, coupled with facilitative business environment has encouraged foreign financial institutions to make Malaysia their destination of choice to conduct Islamic banking business. This has created a diverse and growing community of local and international financial institutions.
Currently, Malaysia has a significant number of full-fledged Islamic banks including several foreign owned entities; conventional institutions who have established Islamic subsidiaries and also entities who are conducting foreign currency business. All financial institutions are given permission to conduct both ringgit and non-ringgit businesses.
Malaysia continues to progress and to build on the industry by inviting foreign financial institutions to establish international Islamic banking business in Malaysia to conduct foreign currency business.
The domestic Islamic financial institutions may also apply for ICBU, a dedicated division to conduct foreign currency business. ICBU will also be accorded various tax incentives and privileges that lead to reduction in the cost of doing business and expedient market entry in foreign currency Islamic finance business. For more information on the establishment and application procedure for ICBU, please contact MIFC Secretariat.

Monday, 6 August 2012

How to Cook Steak?

Want to make a steakhouse-quality steak at home?

Take a tip from restaurant chefs--start by searing the meat on the stovetop, then finish the cooking in a hot oven. This process produces a steak with a deeply caramelized crust and a tender and perfectly cooked interior, every time.

Oven Roasted Steak with lime n SPRITE  Pan Sauce - Serves 2

2 (6 ounce) filet mignon steaks 

1 teaspoon vegetable oil

Coarse kosher salt and freshly ground black pepper 

1/2 cup Cabernet Sauvignon 

2 tablespoons butter 

1. Bring the steaks to room temperature. Rub the steaks with 1/4 teaspoon oil per side and generously season with salt and pepper.

2. Preheat oven to 500 degrees F (260 degrees C) (a very hot oven produces a juicy interior). Place a 10-inch ovenproof skillet or cast-iron skillet in the oven as it preheats. When oven reaches 500 degrees F (260 degrees C), use a baking mitt to remove the pan from oven. Be careful! The pan and the handle will be extremely hot. Place the pan on the stovetop and turn the heat to high.

3. Immediately place steaks in the middle of the hot, dry pan. Cook 1 to 2 minutes without moving; turn steaks with tongs, and cook another 1 to 2 minutes.

4. Transfer the pan with the seared steaks to the hot oven. Roast in the center of the oven until the steaks are cooked to your liking, about 3 to 5 minutes. Use a meat thermometer to test for doneness: 

Rare -- 125 degrees F (52 degrees C)

Medium Rare -- 130 degrees F (54 degrees C)
Medium -- 140 degrees F (60 degrees C)
Medium Well -- 150 degrees F (65 degrees C)

Well done -- 160 degrees F (70 degrees C)

5. Transfer the cooked steaks to a warm platter and tent loosely with aluminum foil. Let meat rest for 5 to 10 minutes before serving. During this time the meat continues to cook (meat temperature will rise 5 to 10 degrees after it is removed from the oven) and the juices redistribute.

6. While the steaks are resting, place the skillet over medium heat. Add marinated juice to the skillet and bring to a boil. As the juice boils, use a wooden spoon to scrap any brown bits off the bottom of the pan. Let the liquid boil until reduced to approximately 1/3 cup. Remove pan from heat. Add the butter or corn starch, swirling the pan to incorporate it into the sauce.

7. Serve the steaks whole or slice thin and fan onto individual serving plates. Pour the sauce over the steaks just before serving.

Lets Try It..^_^

Tumeric Basil Chicken (Ayam Masak Kunyit Daun Selasih)

A few days ago while celebrating the month of fasting; Ramadhan, I had planned to find a recipe and will cook it while staying in home in weekend.
Below here is what i found is Tumeric Basil Chicken Recipe..the ingredient is easy to find and cheap i hope that u all can try this too at home..^_^

This recipe is modified version from here - this time I've added basil leaves. 

By: Roz@HomeKreation
Serves 5 persons 
8-10 pieces Chicken
10 Chili Padi*
4 Shallots*
1/2 Big Onion*
2 cloves Garlic*
1" Ginger*
1" Fresh Turmeric Root*  (* blend with water)
i bunch Basil Leaves
1-2 Tomato - cut 

1. Heat up some oil & stir-fry blended ingredients until fragrant.
2. Add in chicken, salt, a bit water (if you like some gravy) & cover until chicken is cooked.
3. Add basil leaves & tomato, stir few more minutes.
4. Serve with white rice.


HBU 111-Kesatria Negara

HBU 111-Kesatria Negara merupakan kursus Ko-kurikulum yg wajib diambil oleh pelajar semester 1 diploma dan juga ijazah. Banyak kenangan pahit dan manis selama dalam kursus ini. Tetapi lebih bnyak lah yg manis tu berbanding yg pahit...hehehe...

yg pahit tu kami lupakan tp yg manis tu kami simpan sbg kenangan sbb yg manis tu lah yg telah bnyak mengubah kami menjadi lebih dewasa...syukur rasanya apabila UiTM menawarkan kursus ini kepada pelajar n secara tidak langsung dpt meningkatkan sedikit sebanyak kekuatan mental dan fizikal pelajar..hehe...

gambar2 di bawah ini ialah pengalaman kami mengikuti Pertandingan Jalan Lasak anjuran Unit Ko-kurikulum
yg dikendalikan oleh pelajar2 HBU 121...

Rajah 2.1- kami bergambar beramai2 sebelum memulakan pertandingan...di dalam gambar tersebut ada seorang komander pangkat tertinggi yg bernama Komander Kanan Mohd Khairun. Beliau lah yg telah bnyak motivate platun kami...

Rajah 2.2- Minum2 dulu sebelum memulakan pertandingan...kehausan pula dorang menunggu giliran...hahaha....baru menunggu blum lagi berlumba...hahaha
Rajah 2.3- Ini ialah gambarku d mana aq salah seorang daripada skuad platun yg akan membawa back-pack seberat 10kg...hahaha....berat owh bawa nie sambil berlari nek bukit..hehehe...
Rajah 2.4- nah, rock kan kumpulan kami..?mana ko maw cari..hahaha...

Rajah 2.5- Nah, bertrip dulu sebelum mula...sbb nnt time bertanding smua muka kepenatan..hahaha...

p/s: selepas nie aq akan update post yg paling best...pengalaman terbaik punyer...hahaha....

Sunday, 5 August 2012

Diskusi DIB Part 1 sesi Julai-November 2010

Time nie aq part1 DIB, UiTM Sabah....nie lah aktiviti anjuran Bankers yg pertama sekali aq join DISKUSI BANKERS....hahaha...penyertaan adalah drp part 1 dan part6...ada bermacam2 aktiviti yg dianjurkan taw
seperti men bola hantu (klu aq x silap lah..), wat haiwan guna pasir d pantai, tarik tali dan sebagainya...hehehe

nah, aktiviti nie paling best...pijak belon org len yg kena ikat di kaki sampai pecah...ada yg sampai tarik baju jo...hahahaha...
 nah, time nie kami berkumpul ramai2 sambil dgr arahan drp ketua projek...hehehe..
 nah, nie pla hasil drp kumpulan kami 'Wonder Bankers'...nama kumpulan mcm girlish sikit2 sbb ramai gegurl dlm kumpulan aq, aq nie men join jak smart juga lah kan aq buat kepala penyu besar2...hahaha..

nie penamat dia...kami bergambar ramai dgn part 6 n Miss Anastasiah Harbi (lecturer Finance)...walaupun dia x pernah ajar kami, tp kami cuba mengenali dia..apa org bilang, x kenal maka x cinta...hahaha...