INCEIF conferred university status

The International Centre for Education in Islamic Finance (INCEIF) has been conferred university status after only six months in operation to meet the national agenda of making Malaysia the international hub for Islamic finance.

Higher Education Minister Datuk Mustapa Mohamed said backed by a strong institution, Bank Negara Malaysia, INCEIF can be able to stand its ground as a niche-focused university which is rare in Malaysia.

“Its performance in the last six months has been impressive with students from 21 countries and we are certain that it will continue to be strong and contribute significantly to make Malaysia the Islamic finance centre,” he said.

INCEIF was set up by the central bank in March this year to serve as catalyst in creating hig h calibre professionals in Islamic banking and finance to meet the requirements of the industry both domestically and internationally.

Since its establishment, INCEIF has now more than 600 registered students with 26 per cent of them coming from 21 countries. Mustapa spoke to reporters after attending the university-status conferment ceremony in Kuala Lumpur recently.

Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz, who is also INCEIF chairman, said the future success of Islamic finance will depend on the coordinated and concerted collaborative efforts of all stakeholders in the industry.

All parties from the Islamic finance practitioners, educators to researchers, must put in relentless effort to continuously promote the development of Islamic finance, she said.

Through such efforts, the critical shortage of available technical talent in the Islamic financial industry can be addressed, added Zeti.

INCEIF also signed memorandums of understanding with nine local universities on Thursday to share a common interest in providing education, training and research and development in Islamic finance.

Zeti said entering into strategic alliances with institutions of higher learning, Islamic financial institutions and other organisations would create greater synergy, which may bring about new approaches, new technologies and new areas of specialisations.

Source: News Straits Times
Author: Roziana Hamsawi

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