25 November - A seminar on banking focusing on the core aspects of Financial Services Act (FSA) and Islamic Financial Services Act (IFSA) 2013 was organised by a class of semester six students of the Bachelor of Banking (Hons.) programme at Seminar Hall A, UUM Convention Centre recently.
UUM lecturer, Mr. Ab Malek Foad Abu Bakar said the seminar aimed at exposing students to the principal aspects of FSA and IFSA acts that came into force on 30 June 2013 replacing the repealed Payment System Act 2003 (PSA). He explained that, to date many people are still unaware of the new acts in force. He expressed his delight at the success of the banking students in organizing this seminar.
"I hope that the information shared by the guest speaker, Ms. Humairah Sukiman, a legal representative from Bank Negara Malaysia will be beneficial to students and hopefully expand their knowledge about these new acts," he said.
Participants were exposed to the two acts and the effects of the repeal or replacement on some other related acts such as the Banking and Financial Institutions Act 1989, Insurance Act 1996, Payment System Act 2003, the Islamic Banking Act 1983 and Takaful Act 1984 which now come under the jurisdiction of the FSA and the IFSA 2013.