As part of the on-going dialogue with Muslim entrepreneurs linked to Islamic finance and Halal industry, this interview is about media coverage of Islamic finance.
Meet Mr. Syaiful Naim Bin Othman, Founder and CEO of www.amilin.tv and you see a man on a mission on connecting the masses to Islamic finance.
1) What was your motivation and objective to start this venture?
Media, much like food and clothing, is an important part of our everyday life. Through various mediums, radio, television, newspaper or the Internet, we are e-connected with a broad market place coming together based on common shared values.
The global financial media has made economics, finance, banking, capital markets as part of our daily lives, whether we ‘turn it on’ whilst eating breakfast or working out in the gym.
The world is now looking for growth markets and growth stories, and Islamic Finance, OIC Economy and Halal Industry present compelling opportunities. However, the present approach to creating awareness, educating, addressing mis-perceptions and lifting the veil of mystery associated with this niche markets needs to be revisited
Our mission is to provide the fastest and most comprehensive Islamic Finance headlines and news of major events set to shape our business day ahead. For me, we need to put our house in order and the solution is Amilin TV. An online web TV, Amilin TV focuses on Islamic Financial news, the OIC Economy and the Halal Industry.
We are the prime mover of Islamic Finance News TV and we have the largest Islamic Finance video repository on the Internet. To date, our hits for the Web TV include viewership from over 70 countries.
2) Do you think the media understood the importance of Islamic Finance?
No, the story about Islamic finance is just not getting out, including majority of Muslims. Some think that Islamic finance is related to terrorist financial activity. Few think its just about prohibition against pork and interest. Others believe its just semanitics combined with ‘smoke and mirrors.’
The Industry has failed to educate and promote the “beauty” of Islamic Finance to the masses. Here, the media plays an important role, much like in conventional finance, in addressing ifnormation gaps, vacuums and dis-information.
From my point of view, we need to educate the media first. But, at Islamic finance events, media is ‘just’ a sponsor and not involved as panelists or even panel sessions on media. The passive approach does not contribute to the dialogue, it’s a gatekeeper to its readers and viewers, hence, needs to be heard.
3) To attract more online subscribers what is the most important for Amilin TV?
We will launch our Islamic Finance business talk show this year. It will be looked upon as a turning point for the Islamic Finance industry to move to the next level.
It will provide the fastest and most comprehensive Islamic Finance headlines and news of major events set to shape our business day ahead. Featuring analysis and breaking news on the Islamic Financial market, our talk show will also broadcast global equity market reports presented in considerable banter between hosts and their guests.
Our target subscribers are affluent financial professionals from both the conventional and Islamic Banking sectors.
4) What are your challenges and plans going forward?
When we first started a few years ago, we had many challenges for an on-line broadcasting entity. The financial industry is covered by the usual suspects, Thomson Reuters and Bloomberg, however, we have managed to find our target niche market.
We have been recognized by the industry as the only online Islamic Finance news TV. If you google Islamic Finance TV Amilin TV ranks number 1 and if you search for Islamic Finance News, Amilin TV ranks number two. We are also a media partner and official web TV for international Islamic Finance and Halal events happening in among others, Kuala Lumpur, Russia, Dubai, Doha, and Jakarta.
Our vision is to become the mainstream financial media. Currently we have our broadcast studio in Kuala Lumpur and plan to set up our next studio in Dubai soon. Why Dubai?
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has announced his vision and initiative for an “Islamic Economy.”
Any country aiming to become the global hub in Islamic Economy need this kind of business media as a marketing arm to promote and propagate their Islamic Finance agenda to the world.
(Credit: Interview courtesy of Rushdi Siddiqui)
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