In 2009, INCEIF was accorded the status ‘Project of National Interest (“Projek Berkepentingan Negara”) by Rt. Hon. Prime Minister Dato’ Sri Mohd Najib Tun Abdul Razak in his capacity as the Minister of Finance, Malaysia. With this status, organisations and individuals who contribute cash to INCEIF are eligible to claim for tax deduction for the assessment year in which the contributions were made, under Section 44 (11C) of the Income Tax Act, 1967. The status was granted in August 2009, MOF reference number (8.09)248/39/7-1445(6)
The fund provides funding for the following activities:
INCEIF provides financial assistance to deserving Chartered Islamic Finance Professional (CIFP), Masters in Islamic Finance (MIF) and PhD in Islamic Finance students through contributions from corporations and individuals.
A core strategy of INCEIF is to help develop the Islamic finance industry through the promotion of research studies by both lecturers and students. Research support is also extended through the provision of facilities to analyse and discuss the issues faced by the Islamic finance industry.
This refers to the physical resources of the university; from the library, the computer lab and the recreation facilities. INCEIF’s major contributors will be granted naming rights in recognition of their contribution in the development of these facilities.