Tuesday, June 17, 2008

Coping with the challenges of relocating

In a question sent to The Malaysian Reserve, a local banker is giving serious thought to an offer from a Middle Eastern Islamic bank.

The remuneration, the banker says, is fabulous, many times his package at present. However, he would like to know what other key issues should be considered before taking the leap.

We posed this question to Kuala Lumpur-based HSBC Amanah managing director Yakub Bobat (picture). This is his take on the subject:

"It depends on this individual's objectives. He seems to have taken care, very nicely, of the obvious financial matters. From my personal experince, having moved from the UK, then to Indonesia, Dubai and now Malaysia, the elements of relocating your entire family and infrastructure, are things that you have to be very cognisant about.

"You are away from the family and you are moving into a brand new environment. Here, the culture, lifestyle and people may perhaps be somewhat different.

"One of the biggest challenge is to settle yourself and your family into the new environment. Its easier for the person working. You are busy at work. It's the family that would need support to blend into the new enviroment.

"Financials aside, the ability to integrate into the new society, the new culture, is the challenge he or she should be very much aware of. Try to learn more about the new place and lifestyle. Speak to people who have lived there. That way, the integration process becomes so much easier."

(By Habhajan Singh, The Malaysian Reserve, June 16, 2008)

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