INCEIF’s joint research initiative in Bahrain

The Deloitte Middle East Islamic Finance Knowledge Center (IFKC) based in Bahrain has launched a collaborative research initiative with INCEIF The Global University of Islamic Finance and the Henley Business School, University of Reading, UK.
This initiative will pave the way for research as well as thought leadership pieces in the Islamic finance sector  that will enhance the knowledge and skills of market participants and promote leading business practices through thought leadership programmes.  The collaboration will also promote professional excellence and capacity building in Islamic finance.

INCEIF and Henley Business School are already strategic academic collaboration partners and are now expanding their partnership to the industry in association with Deloitte’s IFKC.

This tripartite collaborative research initiative aims to develop a research strategy that addresses practice and policy-making issues in Islamic finance and its subsectors. Three key objectives are identified to deliver international research framework:

1. To create and lead international research excellence and develop multidisciplinary research programs across the Islamic finance practice.

2. To foster – through research partnerships – a culture of strategizing support for industry-driven, and industry-funded research.

3. To communicate and disseminate research outcomes through effective thought leadership programs.
INCEIF President & CEO Mr Daud Vicary Abdullah said:  “The global Islamic finance industry today needs to have specific inputs that will enable it to move to the next level. This can only occur through a concerted effort from both the industry and the academia. This tripartite collaboration is the first step in bringing to market a research strategy that addresses practice and policy-making issues in the industry and its subsectors.”
Deloitte Middle East Global Financial Services Industry Regional Leader Mr Joseph El Fadl said “There is a vital need for industry-driven research that addresses the emerging practice, policy issues and growth opportunities in the realm of Islamic Finance.”

Deloitte IFKC Director Dr Hatim El Tahir said: “A successful outcome of this research partnership will go a long way towards demonstrating the value of industry-driven research, practice benchmarking of key markets such as MENA and South-East Asia, and the need for ongoing investment in research culture in the industry.”

Henley Business School Dean Professor John Board Reading: “This collaboration brings together deep expertise in Islamic and conventional finance from both academic and professional services perspectives.  It offers a real capability to advance knowledge and inform policy in all jurisdictions around the world. ”

A recent report by the Organisation of Islamic Cooperation (OIC) confirms that the global market for Islamic financial services, as measured by the total volume of Shariah-compliant assets, is estimated to have reached US$ 1.1 trillion at the end of 2011. OIC countries, with a collective share of 98% in these assets, continue to be the main actors in the industry’s impressive growth story.

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