Silverlake hosts Islamic banking presentation for US students

By HABHAJAN SINGH

“Coming from a country that is structured based on significant speculation and zero-sum games, it was eye-opening to hear about the ethical practices of Islamic finance.”

The above was a quote from Musa Jamshed, a student pursuing a degree in computer science and business at Lehigh University who was part of two dozen students on a study tour to Malaysia last month.

The students from the US university attended a briefing on Islamic finance since Malaysia is a known international hub for the finance sector.

The students were in Malaysia as part of the Martindale programme to allow them to actively study in depth on economic, social and cultural issues on site, encouraging discussion and experiential learning, Lehigh University associate professor Vera L Fennell told The Malaysian Reserve (TMR) in an email.

Silverlake Group, provider of financial services technology to the banking, insurance, payments, retail and logistics industries, hosted the session on Islamic finance.

Othman Abdullah, CEO for Islamic banking and innovative services delivery at Silverlake unit, Silverlake Sprints Sdn Bhd, made a presentation entitled “Islamic Finance in the Digital Age — Opportunities and Challenges”, along with Islamic Banking and Finance Institute Malaysia resident expert Razli Ramli.

Othman, who oversees Islamic banking issues at Silverlake, holds a Master of Science in Islamic Banking and Finance from the International Islamic University Malaysia and writes the ShariahTech column at TMR.

Also present at the session were Yayasan Raja Zarith Sofiah CEO Datuk Mohamed Ghazali Mohamed Yusoff. The Johor foundation assisted the university for its arrangements in Malaysia.