Kuala Lumpur, 11 Nov 2014 – INCEIF – The Global University of Islamic Finance and CIMB Islamic Bank today signed a Memorandum of Understanding (MoU) to establish a collaborative framework towards establishing a research centre for Islamic banking studies.
Through this collaboration, both organisations aim to promote research and product development in all aspects of Islamic banking; demonstrate the growing symbiosis between industry and academia, and most importantly enhance and strengthen Malaysia’s position as a globally recognised marketplace for Islamic banking and Islamic finance.
The collaboration is a significant move for both organisations. For CIMB Islamic, it provides access to the largest pool of researchers on Islamic finance to share industry input on specific issues that focuses on Islamic banking/finance, and be involved in the research and its output. For INCEIF, such industry collaborations are a must, as part of the AACSB (Association to Advance Collegiate Schools of Business) accreditation process.
According to Badlisyah Abdul Ghani, Chief Executive Officer of CIMB Islamic Bank, “We are very excited to commence this initiative with INCEIF, as it will provide an avenue for us to delve deeper into Islamic banking and further establish ourselves as the thought leaders within the industry. What the world has been exposed to so far is just the tip of the iceberg and there’s still so much more to learn and discover that could enable us to progress Islamic finance to the next level and further enhance Malaysia’s position as an internationally recognised marketplace for Islamic finance as a whole. We at CIMB Islamic are committed to provide a successful implementation of this MoU and we look forward to the results.”
Mohd. Zamree Mohd Ishak, Chief Operations Officer of INCEIF said, “INCEIF was honoured to add another important partner to its growing network of collaborations. CIMB Islamic is a perfect fit to INCEIF as we both share a vision to develop and promote knowledge in Islamic finance. As the only university in the world to focus solely on Islamic finance education and research, INCEIF has become a preferred partner and place of study for many.”
This collaboration will enable both organisations to contribute to society through consumer education on financial literacy and showcase CIMB Islamic as being in support of industry research initiatives. The grant for the Centre will be used to author two books – “The making of Malaysia as the International Islamic Marketplace” and “CIMB Islamic – INCEIF Encyclopedia of Islamic Finance”- on top of various research papers on Islamic finance and Islamic banking studies.
The MoU was signed by Badlisyah Abdul Ghani, Chief Executive Officer of CIMB Islamic Bank and Mohd. Zamree Mohd Ishak, Chief Operations Officer of INCEIF.