inceif mid year...new programme launches the following programmes will be launched in 2020. 1. mba...

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I N C E I F

R E P O R TM I D Y E A R

CONTENTS

P4 ABOUT INCEIF

P6 ACHIEVEMENTS

P10 ACADEMIC EXCELLENCE

P16 REPUTATION

P18 FINANCIAL SUSTAINABILITY

P23 ALUMNI

P26 CORPORATE SOCIAL RESPONSIBILITY

P28 ENDOWMENT FUND

P30 APPENDIX

ABOUT INCEIF

The International Centre for Education in Islamic Finance (INCEIF) was established in 2005 by Bank Negara Malaysia to nurture Islamic finance professionals and experts in order to address the human capital needs of a rapidly expanding global Islamic financial services industry. It was granted Private Higher Education Institution status on 23 March 2006 and was accorded University status on 14 December 2006 by the Ministry of Higher Education (Malaysia). It is known today as INCEIF – The Global University of Islamic Finance.

To be the knowledge leader in Islamic finance.

INCEIF’s mission consists of 3 Key Research Areas (KRA).

VISION

ACCOMPLISHMENTS

MISSION

KRA 1: Academic Excellence KRA 2: Reputation KRA 3: Financial Sustainability

To ensure INCEIF contributes to the creation and management of knowledge in Islamic Finance by providing excellence in teaching, research and thought leadership.

To create and maintain a reputation of INCEIF as the leading knowledge authority on Islamic Finance and the institution of choice for all its stakeholders.

To ensure resources of INCEIF are developed and managed in an effective manner.

2019 2018 2017

Most Outstanding Islamic Finance Education and Research(Kuala Lumpur Islamic Finance Forum)

AACSB Accredited(INCEIF is the only postgraduate university focusing in Islamic Finance with AACSB accreditation, which places INCEIF in the top 5% business schools worldwide)

Excellent 5-star rating in SETARASistem Penarafan Universiti dan Kolej Universiti (Malaysian Rating for University and University College Excellence)

ABOUT INCEIF

INCEIF Mid Year Report | Volume 1 Issue 14

ACHIEVEMENTS

NEW PROGRAMME LAUNCHESThe following programmes will be launched in 2020.1. MBA in Sustainable Business2. Executive Masters in Islamic Finance

ACHIEVEMENTS

INDUSTRY APPOINTMENTSBeyond academia, INCEIF faculty members are actively involved in the industry. Many of them are members of the Board of Directors, Shariah Advisory Boards and Editorial Boards in various organisations locally and internationally.

Their involvement in the industry brings a wealth of experience into the classroom.

16 of 18faculty members sit on either the Board of various companies, and/or Shariah Advisory or Committee, and/or Editorial Board of various journals.

The MBA programme provides thorough knowledge and skills of entrepreneurship and innovation towards building a sustainable economy. Through an innovative learning pedagogy, students will be exposed to real-life industry experiences through action based learning. This programme aims to produce graduates who are competent with an understanding of business and contemporary practical knowledge in the space of halal economy, sustainability, data analytics and digital technology.

MBA INSUSTAINABLE BUSINESS(pending MQA approval)

FACULTY MEMBERS ARE APPOINTED IN VARIOUS CAPACITIES IN THE INDUSTRY:

HSBC Amanah Asia-Pacific Applied Economics Association (APAEA)

The Malaysian Institute of Chartered Secretaries and Administrators (MAICSA)

Bank Rakyat

Appointed faculty members: 2 Appointed faculty members: 2 Appointed faculty members: 1 Appointed faculty members: 1

The programme has been restructured from the Online MIFP based on industry needs. Throughout the course, students are equipped with essential knowledge required for professionals through innovative teaching pedagogy. Students’ access to the digital learning platform allows busy practitioners to enrich their knowledge and skills without compromising their work commitment.EXECUTIVE MASTERS

IN ISLAMIC FINANCE

MQA approval received on 17 JULY 2019 | JPT approval received on 21 AUGUST 2019MQA license number: MQA/FA 3816 | MOE license number: R/343/7/0112 (28 March 2019 – 27 March 2024)


ACCOMPLISHMENTSIn the decade since its establishment, INCEIF has achieved several milestones not only in producing talent for the industry but in research that has pushed the frontiers in the development of Islamic finance. These milestones and achievements of INCEIF are a culmination of the collective wisdoms that have charted the path of INCEIF.

The Leading Women with Influence in Islamic Business and Finance.

ACHIEVEMENTS

FacultyThe following faculty members were recognised in the WOMANi Awards 2019, organised by Cambridge IFA, a UK-based financial intelligence house.

ASSOC. PROF DR. AISHATH MUNEEZA

ASSOC. PROF DR. MAGDA ISMAILABDUL MOHSIN

AlumniThe following alumni members were recognised in the WOMANi Awards 2019, organised by Cambridge IFA, a UK-based financial intelligence house.

From left: Noor Azian Ismail, Dr Azura Othman, Dr Omaima Eltahir, Cambridge IFA CEO Dr Sofiza Azmi, Dr Magda Ismail, Suri Hanim

Dr. Azura OthmanChief Executive Officer, Chartered Institute of Islamic Finance Professionals (CIIF)PhD in Islamic Finance, 2015

Dr. Alaa AlabedSenior Financial Analyst,International Islamic Rating Agency, BahrainPhD in Islamic Finance, 2016

Joann EnriquezChief Executive Office, IAP Integrated Sdn BhdMasters in Islamic Finance Practice, 2016

Nailya YalalovaHead of Islamic Finance,Islamic Business and Finance Fund of Russia Masters in Islamic Finance Practice, 2015

INCEIF Mid Year Report | Volume 1 Issue 1 7

Dr. Irum SabaAssistant Professor,Institute of Business Administration (IBA)PhD in Islamic Finance, 2017

Nurhastuty Kesumo WardhaniBoard Member,Institute of Halal Investing, USMasters in Islamic Finance Practice, 2013

Nighat TanveerAdditional Director,State Bank of PakistanChartered in Islamic Finance Practice, 2009

Suri HanimSenior Consultant,Masryef Management HouseMasters in Islamic Finance Practice, 2015

Dr. Liza MydinHead of Research and Reporting,Maybank Islamic Bhd MalaysiaPhD in Islamic Finance, 2016

Noor Azian IsmailSenior Director,Shariah and Islamic Banking Group Audit, MaybankChartered in Islamic Finance Practice, 2011

Aziza Yerlaeva EbrahimSenior Advisor and Islamic Financial Sector Strategic Expert, Cape Town, South AfricaChartered in Islamic Finance Practice, 2011

Dr. Omaima Eltahir Babikir MohamedAssociate Professor,Bank Rakyat School of Business & Entrepreneurship, Universiti Tun Abdul Razak, MalaysiaPhD in Islamic Finance, 2012

Dr Thamina AnwarDirector and co-founder,Halal Brand HubChartered in Islamic Finance Practice, 2010

Aigerim MarsaliLegal Counsel,JSC Al Saqr Finance, Kazakhstan Chartered in Islamic Finance Practice, 2012

ACHIEVEMENTS


ACADEMICEXCELLENCE

ACTION BASED LEARNING (ABL)ABL provides an innovative approach to learning by setting practical tasks and activities for students to complete in a real workplace. This provides students with the opportunity to translate their academic-based knowledge into action by solving real business issues or developing new solutions for the industry.

Full-time students from Masters in Islamic Finance Practice (MIFP) and Master in Islamic Finance (MSc in Islamic Finance) programmes are exposed to ABL.

LIST OF ORGANISATIONS INVOLVED IN ABL PROJECTS(January 2019 – June 2019)

PROJECT TITLE NUMBER OF STUDENTS

IAP Sdn Bhd

Development of VBI Scorecard for Project Venture 3

Public Perception Study on Investment Platform 4

OCBC Al Amin Berhad Increase Internet Banking Usage Among Corporate and Retail Customers 4

Malaysian Takaful Association Incorporating Takaful Into Khairat Fund Management for Mosques in Selangor 4

Bank Muamalat Indonesia Case Study on Sustainability of International Islamic Banking Malaysia 4

ACADEMIC EXCELLENCE

ABL PROJECT AREAS

PRODUCTDEVELOPMENT

SOCIALFINANCE

MARKETSTUDY

BUSINESSANALYSIS

GOVERNANCE


ACADEMIC EXCELLENCE

EXECUTIVE PROGRAMMES AND TRAININGINCEIF regularly conducts executive programmes and training to external organisations, both locally and internationally, in the area of Islamic Banking and Finance, Islamic Capital Market, and Shariah governance.

Malaysian Technical Cooperation Programme (MTCP)

Chartered Institute of Islamic Finance Professionals

Bank Rakyat YGOAL Philippines

4 executive programmes were conducted that resulted in a revenue of

RM 531,408

NEW TEXTBOOKSAs part of INCEIF’s drive for academic excellence, we continuously develop new modules to ensure that INCEIF’s students receive an education that is informed by current practices and allows them to gain industry experience.

USUL FIQH FOR ISLAMIC FINANCEDedicated to the principles of Islamic jurisprudence for Islamic finance, as applied in contemporary Shariah resolutions of the Islamic Fiqh Academy, AAOIFI and BNM Shariah Advisory Council. This can be used to equip students within the Islamic finance discipline to understand the nature and complexities of Shariah decision-making, while also exposing them to the necessary skills required in understanding the Shariah compliance of Islamic finance transactions.

AL MUGHNI OF IBN QUDAMA (An English Translation of Mu’amalat Sections)Al-Mughni is a commentary on one of the most well-regarded and comprehensive Hanbali books. It is also the first legal textbook ever written on the Hanbali Madhab. Its name is Mukhtasar Al-Khiraqi by Imam Abu Qasim Al-Khiraqi. In order to provide a first-hand reference to a significantly larger English-speaking researcher base, the Muamalat section in Al-Mughni will be translated into English.


Academic Research

SPONSOR RESEARCH TITLE TERM

MOHE-UMDeterminants of Financing Choice Among Technology Start-ups in Malaysia: Critical Examination of The Role of Islamic Banking

1 Aug 17 to 31 Jan 19

BNP Paribas Sustainable Development Goals: Issues and Challenges in Muslim World 1 Aug 18 to 31 Jan 19

MOHE-UM Environment and Social Sustainability: An Analysis from Usul Fiqh Perspectives 1 Mar 18 to 30 Apr 19

TOTAL RESEARCH GRANT RECEIVED RM 219,890.00

While theoretical, the academic research listed below is important in examining the role and relevancy of the Islamic Finance industry within the context of conventional banking and the world.

ACADEMIC EXCELLENCE

The applied research projects aim to provide innovative solutions for Islamic Financial institutions.

INCEIF is able to provide its students and graduates with value added insights and perspectives, based on the output of their research programmes. The strategy taken by INCEIF is to foster close collaboration with various institutions of higher learning, Non-Governmental Agencies as well as financial institutions. The research initiatives undertaken by INCEIF covers both applied Research and Academic Research.

RESEARCH COLLABORATION

Applied Research

GRANT GIVEN BY RESEARCH TITLE TERM

Khazanah NasionalMoneylenders/ Loan Sharks and Their Effects on the Local Communities in the Klang Valley in Malaysia

1 Mar 17 to 1 Mar 19

MTDCMini Social Research Grant - Demonstrating the Impact and Achievement of MTDC in Creating Sustainable Technopreneurs

1 Mar 18 to 31 Aug 19

IFRC Islamic Social Finance: Regional Islamic Finance Emergency Fund 1 Feb 19 to 31 May 19

Bank Pembangunan

Harnessing Value-Based Intermediation (VBI) -The Role of Development Financial Institutions (DFIs)

1 Nov 18 to 1 Jun 19

Hong Leong Takaful Product Innovation and Market Penetration 1 Jan 19 to 1 Dec 19

CIMB IslamicStrategic Framework for CIMB’s Small and Medium Enterprises (SMEs) Financing: Landscape, Opportunities and Enablers (Part A)

1 Mar 18 to 31 Aug 19

CIMB IslamicCustomization of Benchmarked Good Practices and Models for CIMB’s Small and Medium Enterprises (SMES) Financing

1 Mar 18 to 31 Aug 19

TOTAL RESEARCH GRANT RECEIVED RM 3,790,941.97

* Data as of June 2019



COUNTRY OF NATIONALITY TOTAL

Afghanistan 13

Algeria 12

Argentina 1

Australia 18

Azerbaijan 2

Bahrain 66

Bangladesh 84

Belarus 1

Belgium 3

Benin 2

Bosnia and Herzegovina 11

Botswana 1

Brunei Darussalam 11

Cambodia 1

Cameroon 3

Canada 44

Chad 2

China 15

Comoros 1

Cote d'ivoire 2

Djibouti 8

Egypt 38

Eritrea 2


Ethiopia 10

France 25

Gambia 4

Germany 7

Ghana 13

Gibraltar 1

Guinea 2

Guinea-Bissau 1

Hong Kong 6

India 132

Iran 28

Iraq 7

Italy 4

Japan 26

Jordan 22

Kazakhstan 40

Kenya 22

Kosovo 2

Kuwait 9

Kyrgyzstan 17

Lebanon 11

Libyan Arab Jamahiriya 5

Macedonia 1


Maldives 96

Mali 3

Mauritania 12

Mauritius 11

Morocco 24

Namibia 1

Netherlands 6

New Zealand 3

Niger 1

Norway 1

Oman 10

Palestine 4

Philippines 6

Qatar 2

Republic Of Korea 32

Republic Of Moldova 2

Russia 20

Samoa 1

Saudi Arabia 17

Senegal 19

Sierra Leone 1

Singapore 65

Somaliland 1


South Africa 19

Spain 1

Sri Lanka 39

Sudan 59

Sweden 3

Switzerland 1

Syrian Arab Republic 57

Taiwan, Province of China 1

Tajikistan 2

Tanzania 10

Thailand 15

Turkmenistan 1

Turks and Caicos Islands 1

Uganda 10

United Arab Emirates 2

United Kingdom 46

United States 50

Uzbekistan 31

Vietnam 1

Yemen 96

Zambia 4

Zimbabwe 2

GRAND TOTAL 5,171

STUDENT ENROLMENTINCEIF students comprise of 40 per cent international students hailing from 80 nationalities. The students speak nearly 20 different languages including Arabic, Chinese, Korean, Japanese, Russian, Swahili, Urdu and Hindi.

ACADEMIC EXCELLENCE

Malaysia 2,759

193

255

133

256Indonesia

Pakistan

Somalia

Nigeria

BY PROGRAMME (SINCE INCEPTION)BY GENDER

BY COUNTRY BASED ON ENROLMENT NUMBERS (SINCE INCEPTION)MALE FEMALE

Professional Certificate in Islamic Finance

87 53 34

Chartered Islamic Finance Professional

2,097 1,959 948

Masters in IslamicFinance Practice

1,183 742 441

Masters in Islamic Finance 250 165 85

Master of Science in Islamic Finance

363 239 124

PhD in Islamic Finance 380 259 121

Industrial PhD in Islamic Finance 1 1 0

GRAND TOTAL 5,171 3,418 1,753

*Data as of 10 July 2019

*Data as of June 2019


THE FOLLOWING MOBILITY INITIATIVES TOOK PLACE IN Q2 OF 2019

FACULTY MOBILITY (ACADEMIA)

Institution Name: Istanbul Sabahattin Zaim Universitesi Programme: Erasmus+ Staff Mobility for Teaching Duration: 1 week Faculty Involved: 1. Assoc. Prof. Dr. Eskandar Shah Mohd. Rasid2. Prof Dr. Zulkarnain Muhamad Sori

FACULTY MOBILITY (INDUSTRY)

Institution Name: CIMB Islamic BankDuration: On goingProject Scope: Enhancing Small and Medium Enterprise (SMEs) Bankability: Benchmarking of Good Practices and ModelsFaculty Involved: Assoc. Prof. Dr. Mohamed Eskandar Shah Mohd. Rasid

STUDENT MOBILITY (ACADEMIA)

Institution Name: Istanbul Sabahattin Zaim UniversitesiProgramme: Erasmus+Department: Department of Islamic Economics and FinanceDuration: 3 monthsStudents Involved:1. Sumaira Siddiky (MIFP)2. Siti Kholifatul Rizkiah (MSc) 3. Fatin Nabilah Fatah (MSc)

KNOWLEDGE MANAGEMENT CENTRE (KMC)

FACULTY AND STUDENT MOBILITY

KMC provides resources and services to support faculty and students alike with teaching, learning and research. The collection encompasses resources from both the Islamic and conventional finance industries. The Knowledge Management Portal further gives access to wide-scale information and enables INCEIF to share the output of its Islamic finance research, industry insights and experience.

INCEIF has always prided itself as a global university, in providing world-class education, almost equal representation of local and international faculty, and having internationally renowned collaborators to promote Islamic finance education worldwide. Therefore, the university continuously encourages its students and faculty to seek out international experience. This is aimed at broadening their knowledge base.

Throughout the semester, various activities are planned for the students to enrich their experience, build soft skills and develop them into holistic individuals. Through these nurturing and leadership activities, INCEIF nurtures students that today many hold prominent positions in the industry.

For the period of January to June 2019, 31 diverse student activities were conducted.

STUDENT ACTIVITIES AND ACCOMPLISHMENTS

ACADEMIC EXCELLENCE

TYPE OF STUDENT ACTIVITIES

12 Competency Development

8 External Parties

4 Internal (Staff and Faculty members)

11 Student Experience

5 External Parties


6 Industry Engagement

5 External Parties


1 Community Engagement


1 Entrepreneurship

1 External Parties

KMC COLLECTION AS OF 30 JUN 2019

TYPE BOOKS E-BOOKS / E-RESOURCES AV MATERIALS E-JOURNALS

NO. OF COPIES 15,685 732 504 5,818


REPUTATION

REPUTATION

Conferences organised by INCEIFIslamic Finance Masterclass (MyFintech Week 2019)Date: 19 June 2019Venue: Forum, Sasana Kijang, Bank Negara Malaysia

INCEIF has collaborated with the following institutions in the areas of academic programmes, research and publication.

SCHOLARLY ACTIVITIES

FOREIGN RECOGNITION

INSTITUTION COUNTRY PROGRAMME COMMENCEMENT

Afghanistan Institute of Banking & Finance (AIBF) Afghanistan PCIF January 2019

Lebanese American University (LAU) Lebanon PCIFSeptember 2019(On-going)

Virtual University Senegal (VUS) Senegal MIFP OnlineSeptember 2019(On-going)

Research Centre for Islamic Economics (IKAM), Turkey TurkeyResearch & Publication

On-going

INCEIF PCEO Prof Dato’ Azmi Omar delivering the welcoming remarks for Islamic Finance Masterclass.

From left: Dr Chew Yew Choong, Principal Data Scientist, RHB Bank Berhad;

Dr Kinan Salim, INCEIF; Mr Shahzad Sultan, Head of LumenLab Malaysia.


FINANCIALSUSTAINABILITY

SCHOLARSHIPS & STUDENT FUNDING

SCHOLARSHIP/SPONSORSHIP NO. OF STUDENTS

Affin Islamic Bank 6

Alliedland Sdn Bhd 2

Bank Rakyat (Staff) 3

BNP Paribas 2

Bumiputera Dealer Representatives Education Fund 10

Cooperative Bank Of Oromia 5

Embassy of The Sultanate of Oman Cultural Attache 1

Jabatan Perkhidmatan Awam Malaysia (JPA) 2

MARA (Staff) 3

Pelaburan MARA 2

Public Islamic Bank Berhad 1

RHB Bank Berhad 7

RHB Islamic Bank 5

Skim Latihan Akademik Bumiputera (SLAB) 1

Takaful Ikhlas Sdn Bhd 2

Turkish Embassy 1

UNIKL 2

United Overseas Bank (Malaysia) Bhd. 1

Yayasan Khazanah Nasional 1

GRAND TOTAL 57

External scholarships awarded

A total of RM 210,279.05 was received from Corporate Sponsors as follows:

Monies dispersed as scholarships and financial aid by programme

A total of RM 704,117.50 was disbursed as scholarships and financial aid.

INCEIF CHANCELLOR’S SCHOLARSHIP (RM)

CIFP 52,700.00

GRAND TOTAL 52,700.00

CORPORATE SCHOLARSHIP (RM)

MIFP 10,080.00


INCEIF PRESIDENT’S SCHOLARSHIP (RM)

MIFP 234,460.00

MSc 189,030.00


INCEIF BURSARY (RM)

CIFP 134,352.50

MIFP 2,915.00

MSc 59,280.00

PhD 21,300.00


FINANCIAL SUSTAINABILITY

Student Funding Method 80% Self-funding Students 20% Scholarship Students

* Data as of June 2019 * Data as of June 2019


The INCEIF Fisabillilah Trust Fund is primarily funded by zakat contributions from generous benefactors including financial institutions, corporate bodies and even individuals. The Fund will go to deserving Muslim students to allow them to pursue INCEIF programmes.

The distribution of zakat to recipients are as follows:-

ZAKAT CONTRIBUTION

SPONSORS

Individual Contributors Maybank Jabatan Syariah Etiqa Takaful Pusat Pungutan Zakat

A total of RM 538,078.00* has been received from various contributors.*Zakat received from January 2019 to June 2019


73 ZAKAT RECIPIENTS (AS OF JUNE 2019)

MIFP 54 MSc 12 PhD 7

TOTAL 73

INCEIF constantly engages in research projects, book publications, journals and working paper series with internal and external individuals, as well as industry experts. With a world-class resource centre, INCEIF research outputs and publications are in-depth, insightful and practical.

RESEARCH GRANTS

INCEIF RESEARCH FOCUSES ON THE FOLLOWING AREAS:

Macroeconomics & Islamic Monetary policy

Micro Finance, Waqaf/Auqaf Institution,Financial Inclusion & Social Economic Development

Risk Management for Islamic Financial Institutions

Applied Quantitative Research

Applied Shariah in Islamic Financial Services Industry

Islamic Wealth Management (Islamic Capital Market)




SPONSOR RESEARCH TITLE

Kementerian Tenaga, Tenaga Hijau dan Air (KeTTHA)

Exploring the feasibility of Innovative Financing and Investment Platform and Business Models to Realize the Potential of Renewable Energy and Energy Efficiency in Malaysia

Khazanah NasionalA Conceptual Framework to Assess and Evaluate Income Purification of Non-Shariah Compliant Income

Khazanah NasionalMoneylenders/ Loan Sharks and Their Effects on the Local Communities in the Klang Valley in Malaysia

International Federation of Red Cross and Red Crescent Societies (IFRC)

Islamic Social Finance: Environmental and Perceptions and Becoming A Bonam Fide Amil: Finding Solutions for the Pakistani Red Crescent

CIMB IslamicManaging CIMB’s Direct & Indirect Environmental Impacts: Policy Development and Operational Framework

CIMB IslamicManaging CIMB’s Direct & Indirect Environmental Impacts: Policy Development and Operational Framework - Mining and Forestry Sector Guidance

Malaysian Technology Develop-ment Corporation (MTDC)

Mini Social Research Grant - Demonstrating the Impact and Achievement of MTDC in Creating Sustainable Technopreneurs

Ministry of Higher Education (MOHE)-ISRA-INCEIF

Endowment Fund as a Source of Sustainability for Higher Education: Maximizing Investment Return

International Federation of Red Cross and Red Crescent Societies (IFRC)

Islamic Social Finance: Regional Islamic Finance Emergency Fund

Bank PembangunanHarnessing Value-Based Intermediation (VBI) - The Role of Development Financial Institutions (DFIs)

Hong Leong Takaful Product Innovation and Market Penetration

CIMB IslamicStrategic Framework For CIMB’s Small and Medium Enterprises (SMEs) Financing: Landscape, Opportunities and Enablers (Part A)

CIMB IslamicCustomization of Benchmarked Good Practices and Models for CIMB’s Small and Medium Enterprises (SMES) Financing

TOTAL RESEARCH GRANT RECEIVED RM 3,790,941.97


RESEARCH GRANTS




INCEIF ENDOWMENT FUND

OTHER FUNDING

Envisaged to create a wider ownership of INCEIF, the INCEIF Endowment Fund is an opportunity for members of the industry and the corporate sector to become a part of INCEIF’s future, creating a legacy that provides benefits to students and faculty year after year.

Being part of INCEIF’s talent development gives you access to regular progress updates on applied research and other offerings, and on the learning experience for students.

TOTAL CONTRIBUTION SINCE 2015 (RM)

As of 31 December 2018 914,714.32

Total collected for Jan – May 2019 85, 741.72

Profit earned as of 2nd April 2019 18,009.62

TOTAL 1,000,456.04

REVENUE FROM INCEIF’S EXECUTIVE PROGRAMME AND THE KNOWLEDGE MANAGEMENT CENTRE

Training and Executive Programmes KMC

(Total Income): RM 531,408.00 (Total Income): RM 19,554.30

AREAS OF CONTRIBUTION (RM)

For General Purposes For Specific Purposes

Scholarship Research Infrastructure Academic Chair

872,022 12,371 42,902 55,100 50

CATEGORY OF DONORS (RM)

Corporate

739,443.39

Stakeholders

35,028.98Staff

200,860.71Alumni

5,093.34External

2,020.00





ALUMNI

2010

CIFP MIF

74 7

TOTAL 81

2012

CIFP MIF PhD

163 18 3

TOTAL 184

Today, INCEIF Alumni are in over 70 countries around the world. Some are already making meaningful contributions to the advancement of Islamic finance at all levels be it product development and innovation, policy framework and implementation,and regulation and enforcement.

COUNTRY TOTAL

Djibouti 5

Jordan 5

United States 5

Afghanistan 4

Ghana 4

Mauritius 4

Oman 4

Uganda 4

Algeria 3

Egypt 3

Lebanon 3

Mauritania 3

Philippines 3

Tanzania 3

Thailand 3

Tunisia 3

Zambia 3

Brunei Darussalam 2

Cameroon 2

Germany 2

Iraq 2

Italy 2

Kosovo 2

COUNTRY TOTAL

Nigeria 40

Maldiives 36

Bangladesh 35

Yemen 34

Singapore 23

Syrian Arab Republic 21

Turkey 19

Sudan 18

Kazakhstan 17

Uzbekistan 14

United Kingdom 13

Canada 12

France 11

Kenya 11

Japan 10

Kyrgyzstan 10

China 10

Morocco 9

Russia 9

Iran 8

Sri Lanka 8

Bahrain 7

Senegal 6

COUNTRY TOTAL

Republic of Korea 7

South Africa 7

Bosnia and Herzegovina 6

Kuwait 1

Mali 1

Namibia 1

Norway 1

Qatar 1

Saudi Arabia 1

Tajikistan 1

The Former Yugoslavia 1

Republic of Macedonia 1

Turks and Caicos Islands 1

Vietnam 1

Argentina 1

Australia 1

Belarus 1

Cambodia 1

Comoros 1

Eritrea 1

Ethiopia

Zimbabwe

1

1

GRAND TOTAL 1,750

2018

CIFP MIFP MSc PhDInd. PhD

PCIF

8 113 37 16 1 14

TOTAL 189

2017

CIFP MIFP MIF Msc PhD PCIF

41 128 1 58 25 10

TOTAL 263

2016

CIFP MIFP MIF Msc PhD PCIF

76 115 11 35 17 5

TOTAL 259

2015

CIFP MIFP MIF Msc PhD

100 76 35 25 12

TOTAL 248

2014

CIFP MIFP MIF Msc PhD

124 45 33 3 6

TOTAL 211

2013

CIFP MIF PhD

121 20 5

TOTAL 146

2011

CIFP MIF PhD

159 14 3

TOTAL 176

2009

CIFP 32

TOTAL 32

INCEIF ALUMNI ALUMNI BY COUNTRY

ALUMNI



Pakistan

India

Somalia

Malaysia

Indonesia

59

58

972

95

73


ALUMNI

Joann Marie Tansinsin Enriquez(United States of America)Chief Executive OfficerIAP Integrated Sdn BhdMIFP, graduated 2016

Ms Joann Enriquez is currently the Chief Executive of IAP Integrated Sdn Bhd. She brings to the position over 20 years of experience in Financial Technology, having worked in various S&P 500 companies in the Silicon Valley in California. She was Chief Operating Officer of Ethis Ventures for 2 and a half years and was instrumental in developing the start-up’s operations until it grew to become a key player in the global Islamic Crowdfunding space with a strong presence in Malaysia, Singapore and Indonesia.

Dr Hazik Mohamed(Singapore)Managing DirectorStellar Consulting GroupPhD in Islamic Finance, graduated 2017

With 10 years’ experience in engineering, Dr Hazik Mohamed started his own consulting firm, StellarCG. To supplement his career, he embarked on a Masters in Finance programme on a part-time basis. However, he soon realised there were aspects of the conventional financial system that did not fit his values. Islamic finance gives him the promise of what finance could achieve with its emphasis on ethical considerations in all transactions through strict adherence to the Shariah. He chose INCEIF due to its very capable instructors and programmes, and because he wanted to be mentored and supervised by the eminent Prof. Dr. Abbas Mirakhor after seeing him speak at GIFF2012.

Nugruho Bramantyo(Indonesia)Internal Consultant, Chief Executive OfficeGo-Jek, IndonesiaCIFP, graduated 2011

Mr. Nugruho Bramantyo is currently the Internal Consultant at the CEO Office, Go-Jek Indonesia. He has solid experience with a background in sales and origination, product development, financial analysis, and project management. He has developed strategies to enter new segments and international markets, led a cross-functional project team that delivered an innovative corporate social responsible financing structure.

Foo Toon Yin(Malaysia)Senior Internal Shariah Audit ManagerHSBC Bank Malaysia BerhadMIFP, graduated 2016

Ms Foo Toon Yin has always been curious about Islamic finance, with particular interest in how it integrates ethics and finance, how it could withstand financial crisis with minimum impact compared to conventional finance, and the risk management aspects. She chose to study at INCEIF due to its strong faculty with outstanding academicians and industry players and great programmes with fantastic course structures delivered via various methods, as well as KMC’s huge physical and online collection of resources.

ALUMNI HIGHLIGHTS


CORPORATE SOCIALRESPONSIBILITY

FINANCIAL LITERARY PROGRAMME WITH MRSM TUN DR ISMAIL

IFTAR WITH THE LESS FORTUNATE ON CAMPUS

INCEIF has embarked on the ‘INCEIF and The Community’ initiative since 2018. The University has reached out to schools in its effort to spread awareness on the importance of financial literacy. In 2019, INCEIF continued the effort with MRSM Tun Dr Ismail Pontian. About 30 Form 5 students participated in this activity.

INCEIF and ISRA staff treated 86 special guests to an Iftar spread on May 30, 2019. Taking place on campus, the event welcomed 45 underprivileged adults and 25 children from Masyarakat Orang Asal community in Serendah, Selangor, and 20 refugees from Afghanistan, Algeria, Palestine, Somalia and Yemen who have made Malaysia their home. The Iftar was also joined by INCEIF students and alumni.

Date: 28 June 2019

Date: 30 May 2019

Prof Azmi (centre) and Prof Akram giving out food hampers to one of the guests.

The special guests at INCEIF/ISRA Charity Iftar.

Prof. Dr Zulkarnain Muhd Sori in his talk on Careers in Islamic Finance to Fifth Formers from MRSM Tun Dr Ismail, Pontian Johor.

CORPORATE SOCIAL RESPONSIBILITY (CSR)


ENDOWMENT FUND

ENDOWMENT FUND

WAYS TO DONATEINCEIF Endowment FundThe INCEIF Endowment Fund (IEF) is a mode of giving back to INCEIF. The IEF provides benefits to staff and students in a variety of areas.

WHY DONATE?

Students Research

To create knowledge leaders in Islamic finance.

To produce impactful, innovative and cited research for the industry.

WAYS TO GIVE

ONLINE DONATION BANK ONLINE TRANSFER

Go to ief.inceif.org.

Fill up the donors’ information and choose a payment option.

General PurposeINCEIF Endowment Fund Account 1

5641-5555-4512

Specific PurposeINCEIF Endowment Fund Account 2

5641-5555-4529

A notification via email will be sent once your donation is received.

Bank name : Malayan Banking BerhadSWIFT code : MBBEMYKL

INCEIF’S GOAL

DisclaimerResidents of Malaysia enjoy the tax exemption granted to INCEIF under Section 44(1C) Income Tax Act 1967. International donors will be subjected to the tax rules in their respective domiciles. Reference: (8.09)284/40/7-1445(19) dated 26 October. Valid for year of assessments from 2016 to 2019.

RM 10 million

by 2025

RM 1 million

by 2019

RM 83,287 collected as of

June 2019


APPENDIX

APPENDIX

EVENT CALENDARFrom public lectures to conferences, INCEIF hosts a wide range of events for students, faculty members and the community.

JULY

July 3Islamic Economic Framework: A Primer on Markets, Justice and Morals

July 11 Industrial Talk: Potential of Halal Certification

July 12 Launch of The World Bank-INCEIF-ISRA Waqf Report

July 29 Academic Conversations

July 29-30Risk Management For Islamic Financial Institutions (Malaysian Technical Cooperation Programme (MTCP)

AUGUST

August 1 Islamic Finance INNOFEST 2019

August 1-2 Risk Management for Islamic Financial Institutions (MTCP)

August 17 INCEIF Open Day

August 24-25 Mega Careers and Study Fair

August 26 INCEIF-IFRC ROUNDTABLE

August 31International Workshop on Islamic Capital Market and Sukuk

SEPTEMBER

September 2 Student Day

September 16-17 4th IFBBE 2019

September 18-19

13th IFSB-INCEIF Executive Programme – Effective Utilisation of Islamic Capital Market (ICM) Instruments for Sustainable and Responsible Growth

September 19-20 Leadership Development For Islamic Finance Industry

Minister in the Prime Minister’s Department (Religious Affairs), Dato’ Dr Mujahid Yusof with the World Bank-INCEIF-ISRA team.

Deputy Finance Minister YB. Dato’ IR. Haji Amiruddin Hamzah today launched a report produced by INCEIF titled ‘Harnessing Value-based Intermediation (VBI): The Role of Development Financial Institutions (DFIs)’ at the IF Innofest 2019.Event held at Sasana Kijang, Bank Negara Malaysia.

The 4th IFBBE (Islamic Finance, Banking and Business Ethics) Conference was held at the Universitat de València campus in Valencia, Spain.


APPENDIX

ACADEMIC PROGRAMMES

The PhD programme is industry driven but based on strong academic fundamentals. It enables candidates to develop the technical and intellectual ability needed to pursue research across a broad range of areas in Islamic finance.

This postgraduate course is aimed at producing industry practitioners with global insight, holistic knowledge and cutting-edge expertise in Islamic Finance. Students are provided with a comprehensive and practical understanding of Islamic economics, finance and Shariah, as well as the environment within which Islamic Finance players operate.

This postgraduate course aims to produce professionals with expertise in both conventional and Islamic finance. Students have a comprehensive understanding of the economic, financial and legal environment in which providers of Islamic financial services operate.

This course is developed to cater for industry professionals to gain knowledge in certain areas of practice.

PhD DOCTOR OF PHILOSOPHYIN ISLAMIC FINANCE

MIFP MASTERS IN ISLAMICFINANCE PRACTICE

MSc MASTER OF SCIENCEIN ISLAMIC FINANCE

PCIF PROFESSIONAL CERTIFICATEIN ISLAMIC FINANCE


International Centre for Education in Islamic Finance (INCEIF)(Company No. 718736-K)

www.inceif.org

inceif mid year...new programme launches the following programmes will be launched in 2020. 1. mba...

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