KUALA LUMPUR, Sept 7 (Bernama) --  The Malaysian Financial Planning Council (MFPC), and Nilai University signed a Memorandum of Agreement (MoA) in respect of MFPC recognising Nilai University’s programmes pertaining to the exemptions for the Registered Financial Planner (RFP) programme Modules 1-6; and for Nilai University to be appointed the Education Provider to conduct the RFP Module 7 on its campus following an objective and thorough assessment of Nilai University’s application being carried out by our MFPC’s Certification and CPD Board (CCB).
 
In consideration of the good reputation and the quality of education offered at Nilai University, MFPC is optimistic that this initiative will produce significant results and achieve success. It is our hope that through this collaborative efforts of both entities, graduates from Nilai University will stand in an even better stead as prospective employees in the financial services sector.
 
At the event President of MFPC, Md Adnan Md Zain announced that MFPC and the Capital Market Development Fund (CMDF) have agreed to provide scholarships for prospective students who have the desire to study the relevant RFP modules to be qualified as Capital Market Services Licence Representatives. The scholarship which is worth RM5,400 for each individual, is awarded to deserving applicants from any institute of higher learning and even individuals in the industy who are may not be qualified. In addition, En Adnan announced a paid internship programme of 6 months which is being funded by the CMDF and financial planning companies, and this programme comes with value-adding soft skills development of the interns undertaken by MFPC. Prospective participants could contact the MFPC Secretariat office for details.
 
Ever since its inception in 2004, MFPC has worked towards developing the financial planning profession through its professional education programmes and introducing several initiatives and projects to raise the financial literacy of Malaysians from all walks of life. The RFP programme is also accredited by the Finance Accreditation Agency (FAA), an agency that is responsible for certifying the standards and quality of professional learning and development in the financial services industry.
 
Financial Planning certainly has the prospects and poised to be an important factor in   transforming the financial system of Malaysia. A recent data by the Association of   Financial Advisers (AFA) reveals that across the border in Singapore there are 3,000 financial adviser representatives serving a population of 5.4 million. In Malaysia, we have 971 fully licensed individuals catering to a population of about 30 million. This is understandable as the Financial Planning industry in Malaysia is still in its infancy stage. The potential for growth is high and the opportunities are tremendous.

NOTE TO EDITOR:
About:- 
Malaysian Financial Planning Council (MFPC)  
 
MFPC is an independent body set up with the noble objective of promoting nationwide development and enhancement of the financial planning profession. MFPC provides an evolving set of Best Practice Standards and Code of Ethics that must be adhered to by Registered Financial Planner (RFP) and Shariah RFP designees. This requirement is aimed at ensuring that the public will be served with the highest quality of financial planning services. MFPC was registered on 10th of March, 2004 under the Societies Act, 1996. The Registered Financial Planner (RFP) programme was launched by the former Governor of Bank Negara Malaysia, Y.Bhg. Tan Sri Dato’ Sri Dr. Zeti Akhtar Aziz in November 2002. 
 
The RFP designation was approved by Bank Negara Malaysia (BNM) as the prerequisite qualification to apply for the Financial Advisers’ License and Financial Advisers’ Representative License. RFP designation was also approved by Securities Commission Malaysia for the application of the Capital Markets Services License (CMSL) in view of the introduction of the Capital Markets and Services Act 2007.
 
Please visit: www.mfpc.org.my

SOURCE : Malaysian Financial Planning Council (MFPC)

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Mervin Anthony 
Manager
External Relations and Project Management
Malaysian Financial Planning Council
Tel: +6 03 62035899
Email: mervin@mfpc.org.my
 
--BERNAMA