Centre of Excellence in Islamic Social Finance
About Us
The Centre of Excellence for Islamic Social Finance (CoE ISF) was established in 2022 to create, develop and implement INCEIF initiatives that promote financial inclusion for all and support the United Nations Sustainable Development Goals (SDGs) in line with the objectives of Shariah (maqasid al-Shariah).
Islamic social finance encompasses financial mechanisms rooted in Islamic ethics and jurisprudence that include but are not limited to zakat (almsgiving), waqf (Islamic endowment), charity (sadaqah), and interest-free loan (qard hasan). These instruments promote social welfare, compassion, socio-economic justice and financial inclusion. They have been instrumental in alleviating poverty and improving socio-economic development for over 1,400 years.
Services and Offerings
Connect with us to explore the range of services we offer related to the intricacies of Islamic social finance.
TRAINING
Our training programmes are designed to be current, high-quality and relevant to address key issues in socio-economic development and sustainability to meet the unique needs of our clients.
Our expertise extends across a range of subjects relating to Islamic social finance:
- Fundamentals of Islamic social finance
- Shariah governance and legal drafting in Islamic social finance
- Risk management in Islamic social finance and sustainability
- Islamic capital market, Islamic banking, and takaful products and operations in relation to Islamic social finance
RESEARCH
Our research initiatives focus on advancing knowledge and understanding of the role of Islamic social finance in promoting socio-economic development and sustainability. We are committed to conducting research that informs policy, guides practice, and fosters innovation.
Our key research areas include:
- Social sustainability impact research
- Collaborative research on the impact of Islamic philanthropy
- Maqasid-based local community development and socio-economic empowerment
CONSULTANCY
Our consultancy services are designed to provide expert guidance and strategic support for organisations looking to integrate Islamic social principles and sustainability into their operations. We offer bespoke consultancy solutions in Islamic finance, Shariah compliance, and sustainability tailored to your specific needs.
Our key consultancy services include:
- Conversion of conventional entities to Islamic entities with sustainability and Islamic social finance features
- End-to-end Shariah compliance and sustainability with maqasid al-Shariah as the overarching principles
- Ethical banking, takaful and Islamic social finance
Vision
To Illuminate the Pathways of Islamic Finance Excellence. INCEIF seeks global recognition as the leader in Islamic finance education by empowering young and ambitious minds.
Mission
To provide social impact-driven research in Islamic Social Finance.
To develop innovative Islamic Social Finance products and services for the industry by leveraging Fintech.
To generate revenue streams for long-term sustainability.
Strategic Objectives
Transfer Knowledge
To transfer knowledge through services related to ISF.
Referral Point/Centre
To be the referral point/centre in ISF research.
Spearhead Strategic Partnership
To spearhead strategic partnerships between institutions of higher learning and related industry players in Islamic social finance.
Key Focused Pillars
Our focused areas are based on three key pillars:
SOCIAL FINANCE INSTITUTIONS
- Waqf
- Zakat
- Non-government organisations or relief agencies
- Cooperative (takaful)
SUSTAINABILITY
- Value-Based Intermediation (VBI)/Value-Based Intermediation for Takaful (VBIT)
- ESG, SRI, SDGs related to the social aspects
- Social sustainability projects
MICROFINANCE
- Socio-economic empowerment
Impactful Projects
Urban Farming (2022)
This collaborative applied research project between Maybank Islamic Berhad and the Centre of Excellence of Islamic Social Finance empowers the community. It provides supplementary income to zakat beneficiaries (asnaf) and B40 income earners.
Social Impact Report: LZNK Towards World Class Zakat Management Agency (2023)
The social impact report showcases how Lembaga Zakat Negeri Kedah has made a difference in the lives of beneficiaries, partners and stakeholders, contributing to positive social change in Kedah.
Shariah-Compliant Socio-Economic Sustainability Model for Maahad Tahfiz (2023)
This research focuses on developing a sustainable governance and finance model for Maahad Tahfiz, a private religious education institution, hence enhancing its long-term viability and operational effectiveness within the Islamic education sector.
Social Sustainability Impact Report (SSIR) for Majlis Agama Islam dan `Adat Melayu Perak (MAIPk) Asnaf Programme (2023)
This SSIR project provides a social impact evaluation on the beneficiaries of MAIPk’s Asnaf Programme in 2023.
Social Sustainability Impact Report of Waqaf An-Nur Socio-Economic Development (2024)
This SSIR project enhances Waqaf An-Nur Corporation’s reputational image by showcasing the positive impact of its socio-economic development programmes.
Training for EXCO and Non-EXCO on Essentials in Islamic Banking & Finance and Islamic Social Finance 1.0 and 2.0 (2023–2024)
This programme provides training on the ‘Essentials in Islamic Banking & Finance and Islamic Social Finance’ to develop expertise and promote a thorough understanding of the disciplines.
Advanced Programme: Islamic Social Finance for Board of Directors (2024)
This programme provides high-quality and practical training sessions tailored to the organisation’s needs for talents in Islamic social finance. It is delivered by our experienced Islamic finance experts.
Urban Farming (2022)
This collaborative applied research project between Maybank Islamic Berhad and the Centre of Excellence of Islamic Social Finance empowers the community. It provides supplementary income to zakat beneficiaries (asnaf) and B40 income earners.
Social Impact Report: LZNK Towards World Class Zakat Management Agency (2023)
The social impact report showcases how Lembaga Zakat Negeri Kedah has made a difference in the lives of beneficiaries, partners and stakeholders, contributing to positive social change in Kedah.
Shariah-Compliant Socio-Economic Sustainability Model for Maahad Tahfiz (2023)
This research focuses on developing a sustainable governance and finance model for Maahad Tahfiz, a private religious education institution, hence enhancing its long-term viability and operational effectiveness within the Islamic education sector.
Social Sustainability Impact Report (SSIR) for Majlis Agama Islam dan `Adat Melayu Perak (MAIPk) Asnaf Programme (2023)
This SSIR project provides a social impact evaluation on the beneficiaries of MAIPk’s Asnaf Programme in 2023.
Social Sustainability Impact Report of Waqaf An-Nur Socio-Economic Development (2024)
This SSIR project enhances Waqaf An-Nur Corporation’s reputational image by showcasing the positive impact of its socio-economic development programmes.
Training for EXCO and Non-EXCO on Essentials in Islamic Banking & Finance and Islamic Social Finance 1.0 and 2.0 (2023–2024)
This programme provides training on the ‘Essentials in Islamic Banking & Finance and Islamic Social Finance’ to develop expertise and promote a thorough understanding of the disciplines.
Advanced Programme: Islamic Social Finance for Board of Directors (2024)
This programme provides high-quality and practical training sessions tailored to the organisation’s needs for talents in Islamic social finance. It is delivered by our experienced Islamic finance experts.
Urban Farming (2022)
This collaborative applied research project between Maybank Islamic Berhad and the Centre of Excellence of Islamic Social Finance empowers the community. It provides supplementary income to zakat beneficiaries (asnaf) and B40 income earners.
Social Impact Report: LZNK Towards World Class Zakat Management Agency (2023)
The social impact report showcases how Lembaga Zakat Negeri Kedah has made a difference in the lives of beneficiaries, partners and stakeholders, contributing to positive social change in Kedah.
Shariah-Compliant Socio-Economic Sustainability Model for Maahad Tahfiz (2023)
This research focuses on developing a sustainable governance and finance model for Maahad Tahfiz, a private religious education institution, hence enhancing its long-term viability and operational effectiveness within the Islamic education sector.
Social Sustainability Impact Report (SSIR) for Majlis Agama Islam dan `Adat Melayu Perak (MAIPk) Asnaf Programme (2023)
This SSIR project provides a social impact evaluation on the beneficiaries of MAIPk’s Asnaf Programme in 2023.
Social Sustainability Impact Report of Waqaf An-Nur Socio-Economic Development (2024)
This SSIR project enhances Waqaf An-Nur Corporation’s reputational image by showcasing the positive impact of its socio-economic development programmes.
Training for EXCO and Non-EXCO on Essentials in Islamic Banking & Finance and Islamic Social Finance 1.0 and 2.0 (2023–2024)
This programme provides training on the ‘Essentials in Islamic Banking & Finance and Islamic Social Finance’ to develop expertise and promote a thorough understanding of the disciplines.
Advanced Programme: Islamic Social Finance for Board of Directors (2024)
This programme provides high-quality and practical training sessions tailored to the organisation’s needs for talents in Islamic social finance. It is delivered by our experienced Islamic finance experts.
Research Experts
Assoc. Prof. Dr. Mohamed Fairooz Abdul Khir
A Brief Introduction
Associate Professor Dr. Mohamed Fairooz currently serves as the Director of the Centre of Excellence in Islamic Social Finance (CoEISF) and is also an Associate Professor at the International Centre for Education in Islamic Finance (INCEIF) before joining INCEIF University. He served the ISRA Research Management Centre (ISRA RMC) as a researcher and Head of the Islamic Banking Unit for more than six years. Prior to joining ISRA, he served at the Centre for Foundation Studies, International Islamic University (IIUM), for eight years as a lecturer at the Department of Islamic Revealed Knowledge and Human Sciences. Apart from serving INCEIF, he also serves as a member of Shariah Advisory Council (SAC) of Securities Commission Malaysia, member of Fatwa Committee of Perak (Ahli Jawatankuasa Fatwa Negeri Perak), member of Perak Islamic Religious Council & Malay Customs (Majlis Agama Islam dan Adat Melayu Perak-MAIPk), Chairman of Board Shariah Committee to CIMB Islamic Bank, Chairman of Shariah Committee to Zurich Takaful Malaysia Berhad (ZTMB) and Independent Non-Executive Director of Zurich Takaful Malaysia Berhad. He is also the Chairman of the Shariah Committee to Co-op Bank Pertama. He is also the chairman of the Shariah Committee for Co-op Bank Pertama. He is currently a member of Shariah Advisory Committee for Tabung Haji.
Prior to joining Zurich Takaful Malaysia Berhad (ZTMB), he served as a Shariah Committee member of MNRB Holdings Berhad (Takaful Ikhlas Berhad and Malaysian Reinsurance Retakaful Division-MRRD). He was also the Chairman of the Shariah Committee of Agrobank for nine years. He is also a registered Shariah adviser with the Securities Commission, Malaysia, for the Islamic Unit Trust Schemes and Islamic Securities (Sukuk).
As researcher, he involves actively in research related to Islamic finance, amongst others are Ibra’ and Its Implementation in Islamic Banking from the Perspective of Maqasid al-Shariah, Parameter of Hiyal (Legal Stratagem) in Islamic Finance, Personal Financing: An Alternative to Bay’ al-‘Inah, Fatwa in Islamic Finance: A Comparative Study Between Malaysia and GCC and Book on Islamic Legal Maxims and Their Application in Islamic Finance. He has presented many academic papers at various conferences, both locally and overseas.
- Shariah Compliant Socio- Economic Sustainability Model for Private Maahad Tahfiz (Etiqa)
- Social Sustainability Impact Assessment Report for MAIPk Asnaf Programme (Etiqa)
- Training for EXCO and Non EXCO on Essentials In Islamic Banking & Finance and Islamic Social Finance (1.0) & (2.0) Maybank Group
- Publications in Islamic Capital Market and Islamic Social Finance for SCOE’s website
- Publication on waqf “Waqf as a Socioeconomic and Philanthropic Instrument: Past, Present, and Future (KUIP)
- 3rd International Conference on Islamic Economics 2024 (3rd ICONIE 2024) 24th – 25th April 2024 (Physical & Online), Hotel Holiday, Sarajevo, Bosnia & Herzegovina
- Baitulmal Community Financing I-Madina and Pasar Komuniti I-Madina
Books
- Abdul Khir, M. (in press, 2022). Analysis of Lending Interest Rate and Economic Activities in Malaysia. 5th ISM International Statistical Conference 2021 (ISM-V): Statistics in the Spotlight: Navigating the New Norm.
- Abdul Khir, M. (2022). ‘Ajaib al-Makhluqat wa Gharaib al-Mawjudat 2nd Floor.
- Abdul Khir, M. (2022). Pembayaran Zakat atas Talian. PEMBANGUNAN LESTARI MASYARAKAT: KESEJAHTERAAN UMMAH DI ERA DIGITALUUM.
- Abdul Khir, M. (2022). Islam and Leadership. Understanding Islam. Department of Islamic Revealed Knowledge, Centre for Foundation Studies, IIUM.
Teaching responsibilities:
- Dr. Fairooz lectures and supervises Masters students and supervises PhD projects within the field of Shariah and Islamic Finance.
Supervision information:
-
Co-Supervisor: PhD Thesis:
- 2021: Yousuf Sultan
- 2021: Wan Muhammad Asyraf Wan Mohd Fadzli
-
Co-Supervisor: PhD Thesis:
- 2022-2023: Mohd Asyadi Bin Redzuan.
Assoc. Prof. Dr. Ziyaad Mahomed
A Brief Introduction
Associate Professor Dr. Ziyaad Mahomed stands as a distinguished Shariah Advisor, extending his expertise to over eight boards of Islamic financial institutions on an international scale. Notably, he holds the esteemed position of Chairman of the HSBC Amanah Shariah Board in Malaysia, underscoring his influence in shaping Shariah compliance within the financial sector.
Dr. Ziyaad’s research and consultancy efforts have left an indelible mark on the global Islamic finance landscape. His focus on innovating Takaful products and models spans diverse regions, including South Africa, Nigeria, Mauritius, and Malaysia. His leadership in numerous consultancies has been instrumental in the development of Islamic Banking windows and the evolution of Takaful in various countries, with notable contributions to the UK, Maldives, Nigeria, and Kazakhstan, among others.
Currently assuming the role of Associate Dean of eLearning programmes at INCEIF, Dr. Ziyaad is at the forefront of educational innovation. His commitment to advancing knowledge delivery is evident in his leadership of a team responsible for designing cutting-edge eLearning programmes. Furthermore, his leadership extends to spearheading the development of a new Master’s online degree, employing the latest methodologies in eLearning.
His multifaceted role includes active participation in creating both VBI (Value-Based Intermediation) and VBiT (Value-Based Takaful) in Malaysia, showcasing his pivotal role in shaping ethical financial practices. As a Shariah Advisor on multiple international boards, Dr. Ziyaad’s influence transcends borders, contributing significantly to developing and adhering to Shariah principles in Islamic finance. His unwavering commitment to advancing education and ethical financial practices positions him as a key figure in the global Islamic finance arena.
He intends to focus on Islamic social finance, Shariah issues & innovation, fintech and Sukuk, amongst other research areas.
- Urban Farming 2.0 (Maybank Islamic)
- Essential Islamic Banking, Islamic Finance and Islamic Social Finance (Maybank Group)
- Publication on waqf book “Waqf as a Socioeconomic and Philanthropic Instrument: Past, Present, and Future” – KUIP
Books
- Taking Islamic Finance Education to New Heights, INCEIF Refinitiv Islamic Finance Knowledge Outlook Report 2020. Bahrain.
- Maximizing Social Impact through Waqf Solutions. Malaysia. World Bank, INCEIF and ISRA (2019)
- Malaysia as a Global Fund Administration Hub. (Volume 1) BNP Paribas Centre for Islamic Assets and Wealth Management. INCEIF, Malaysia.
- SRIs & the Case for Islamic Investment Funds, BNP Paribas Centre for Islamic Wealth Management, INCEIF, Malaysia.
- Malaysia as a Global Hub for Fund Administration. (Volume 1) BNP Paribas Centre for Islamic Assets and Wealth Management. INCEIF, Malaysia.
Chapters in books
- Mahomed, Z. (2022). Assessing Financing for Healthcare Infrastructure in Sub-Saharan Africa: Can Islamic finance assist? Edward Elgar.
- Mahomed, Z., Akinlaso, M., and Mohamad, S. (2022). Reactivating Abandoned Infrastructure Development in Nigeria: Considering the Islamic Finance Option. Edward Elgar.
- Mahomed, Z. and Hydara, M. (2022). Applying an Integrated Islamic Social Finance Model for Women Farmer Empowerment in The Gambia. Edward Elgar.
- Mahomed, Z. (2022), “Modelling Effective Zakat Management for the ‘Stans’ of Central Asia and Establishing Pandemic Resilience”, Hassan, M.K., Muneeza, A. and Sarea, A.M. (Ed.) Towards a Post-Covid Global Financial System, Emerald Publishing Limited, Bingley, pp. 143-159. https://doi.org/10.1108/978-1-80071-625-420210008
- Ma’ruf, A., Mahomed, Z., Mohamad, S. (2021). Sustainable Finance and a Sharī’ Analysis of Environmental, Social and Governance (ESG) Criteria. Title: Islamic Sustainable Finance. IGI Publication. (Expected Publication: 1 st Quarter 2021).
- Mahomed, Z., Unal, I., Mohamad, S. (2021). Funding the Refugee Crisis in Turkey: A Case for Social Impact Sukuk. Book Title: Impact of COVID-19 on Islamic Social Finance. Routledge.
- Ali, M., Oravampurath, H., & Mahomed, Z. (2020). Social Impact Sukuk for Migrants: An Innovative Solution, Handbook of Research on Theory and Practice of Global Islamic Finance. IGI Global.
- Akinlaso, I. M., Adediran, I. O., Diallo, A. K., & Mahomed, Z. (2019). A future beyond digital identity. Fintech in Islamic Finance: Theory and Practice, 76.
- Zada, N., Lahsasna, A., Mahomed, Z., & Saleem, M. (2017). Islamic Finance Insolvencies under Secular Bankruptcy Laws:A Casey Study of Arcapita Bank under US Chapter 11, Islamic Banking:Growth, Stability and Inclusion (pp. 24). Palgrave.
- Shamsher, M., Mohamed, Z., & Kamil, N. (2017). Islamic Banking Business of Conventional Banks: Transition from Windows to Islamic Subsidiaries, In Mohamed Ariff (Ed.), Islamic Finance in Malaysia: Growth & Development (pp. 86-114). Pearson Malaysia Sdn. Bhd.
- Mahomed, Z. (2017). Islamic Capital Market: Sukuk, Islamic Finance : The New Normal (pp. 19). RAM Holdings Berhad.
- Mahomed, Z., Ariff, M., & Shamsher, M. (2017). Wealth Effect of Sukuk Issuance Announcement in Two Markets, In Mohamed Ariff and Shamsher Mohamad (Eds.), Islamic Wealth Management: Theory and Practice (pp. 225-245). United Kingdom: Edward Elgar Publishing Limited UK.
- Mahomed, Z. (2017). Zakat in Islamic Wealth Management, In Mohamed Ariff and Shamsher Mohamed (Eds.), Islamic Wealth Management – Theory and Practices(pp. 363-380). United Kingdom: Edward Elgar Publication.
- Mahomed, Z., Shah, E., (2016) Islamic Money Market Instruments, (‘Islamic Financial System, Principles & Operations’), ISRA
Teaching responsibilities:
- Conducting research, lecturing to Masters and Doctoral students and supervising students all in the following specialisations:
- Islamic law of contract
- Usul ul Fiqh
- Shariah Rules and Issues
- Shariah Aspects in Business and Finance
- Islamic Social Finance
- Islamic Capital Markets
- Risk Management
Supervision information:
- Dr. Ziyaad Mohamed lectures and supervises Masters students and is happy to supervise PhD students in any area relevant to his work on Islamic law of contract, Usul ul Fiqh, Shariah Rules and Issues, Shariah Aspects in Business and Finance, Islamic Social Finance, Islamic Capital Markets and Risk Management.
Assoc. Prof. Dr. Magda Ismail Abdel Mohsin
A Brief Introduction
Assoc. Prof. Dr. Magda Ismail Abdel Mohsin is a distinguished faculty member at INCEIF University, known as The Global University of Islamic Finance. As a Subject Matter Expert in Social Finance, with a focus on zakat, waqf, and qard-hassan, Dr. Magda Ismail has made significant contributions to the field of Islamic economics and finance.
She intends to focus on Islamic social finance, Shariah issues & innovation, fintech and Sukuk, amongst other research areas.
- Publication on waqf book “Waqf as a Socio-economic and Philanthropic Instrument: Past, Present, and Future” – KUIP
- Social Sustainability Impact Assessment Report for Waqaf An-Nur (Socio- Economic development – DanaWAN)
Books
- “Alternative Financial Instruments to Riba and Their Roles in the Distribution and Redistribution of Wealth” (UM Press, 2024).
- “Application of Zakat: From Classical and Contemporary Perspective” (World Scientific, 2023).
- “The Institution of Waqf: An Innovative Financial Tool for Socioeconomic Development” (Pearson Malaysia Sdn. Bhd., 2020).
- “Financing the Development of Old Waqf Properties” (Palgrave Macmillan, 2016).
- “Corporate Waqf: From Principle to Practice” (Pearson Malaysia Sdn. Bhd., 2014).
- “Cash Waqf: A New Financial Product” (Pearson Malaysia Sdn. Bhd., 2009).
- “Role of Zakat in Responding to COVID-19 Pandemic in Muslim Populated Countries” (2022).
- “New Frontiers for Cash-Waqf Models for Socio-Economic Development” (2022).
- “The Development of Waqf in Sudan for Sustainable Development” (2022).
- “Economic and Social Impacts of Sovereign Sukuk” (2020).
- “Smart Waqf City for Education – An Experience in Darussalam Gontor, Indonesia” (2020).
Teaching responsibilities:
- Dr. Magda lectures and supervises Masters students and supervises PhD projects within the field of
Supervision information:
-
Co-Supervisor: PhD Thesis:
- 2020-2021: Mohamed Ayaz Mohamed
- 2020-2021: Ahmad Hidayat
-
Committee Member:
- 2024-2025: Seminar and Conference Committee
- 2023-2024: Scholarship Committee
-
Student Advisor:
- 2020-2021: Kasful Khairi/APEL (C)
- 2020-2021: Siti Qadariah/APEL (C)
-
Thesis Assignments
-
Internal Examiner: PhD Thesis:
- 2020-2021: Nor Hazila Ismail
Hj. Abdul Rahman Mohd. Yusoff
A Brief Introduction
Hj. Abdul Rahman Mohd. Yusoff is currently a Teaching Fellow at INCEIF University. He has been the lecturer for the post-graduate professional studies programme, namely MIFP, CIFP, and PCIF, since 2018. Specifically, the courses he covers include Structuring Financial Requirements, Financial Services Marketing, Islamic Banking Practices, and Risk Management. He is also the Deputy President of the Chartered Institute of Islamic Finance Professionals (CIIF) since 2017. He was previously with OCBC Al-Amin Bank Berhad (OABB) in the Commercial Banking Department in 2008 and subsequently headed the Shariah Department from 2013 to 2019. His last position with OABB was as the Head of Islamic Product & Business Development until his retirement in October 2021.
He started at the senior level in the banking industry in 1986 in various managerial positions in Retail, Commercial, and International Banking. He had also been posted as Assistant General Manager in the Hong Kong branch from 1997 to 2001 until he left CIMB in 2005. Subsequently, he joined a few other financial institutions, including Bank Islam Malaysia Berhad and CagamasBerhad. Hj. Abdul Rahman has contributed actively to the Islamic Finance Industry as a module writer, moderator, reviewer, trainer, and guest speaker with IBFIM, KUIS, UPM, UiTM, etc., at various seminars, workshops, and training. He is also the subject-matter expert in Islamic Banking Practice, Shariah Governance, Shariah Risk Management, and Shariah Audit & Compliance.
He is currently an Associate Research Fellow with IRCIEF. Hj. Abdul Rahman is a graduate of Master of Science in Islamic Finance (MSc.) and Chartered Islamic Finance Professional (CIFP) from INCEIF University and has an MBA from Morehead State University, Kentucky, USA, and a Bachelor of Science (BSc.) majoring in Finance from Indiana State University, Indiana, USA. He is a qualified member who carries the respective professional accreditations titles, namely CPIF (Chartered Professional in Islamic Finance), CSP (Certified Shariah Practitioner), and MIM-CPT (Malaysian Institute of Management – Certified Professional Trainer).
He intends to focus on Financial Services Marketing (Masters), Islamic Banking Practice (Masters), Islamic Banking Practices (MBA), Islamic Banking Practices (Masters), Risk Management for Islamic Banks (MBA), Risk Management in Banks (Masters), Risk Management in Islamic Financial Institutions (Masters), Risk Management in Islamic Financial Institutions (Doctoral), Risk Management of Islamic Financial Institutions (Masters), Structuring Financial Requirement (Masters), and Structuring Financial Requirements (Masters).
- Training for EXCO and Non EXCO on Essentials In Islamic Banking & Finance and Islamic Social Finance (1.0) Maybank Group
Teaching responsibilities:
- Haji Rahman lectures and supervises Masters students and supervises PhD projects within the field of Financial Services Marketing (Masters), Islamic Banking Practice (Masters), Islamic Banking Practices (MBA), Islamic Banking Practices (Masters), Risk Management for Islamic Banks (MBA), Risk Management in Banks (Masters), Risk Management in Islamic Financial Institutions (Masters), Risk Management in Islamic Financial Institutions (Doctoral), Risk Management of Islamic Financial Institutions (Masters), Structuring Financial Requirement (Masters) and Structuring Financial Requirements (Masters).
Supervision information:
- Haji Rahman lectures and supervises Masters students and is happy to supervise PhD students in any area relevant to his work on Financial Services Marketing (Masters), Islamic Banking Practice (Masters), Islamic Banking Practices (MBA), Islamic Banking Practices (Masters), Risk Management for Islamic Banks (MBA), Risk Management in Banks (Masters), Risk Management in Islamic Financial Institutions (Masters), Risk Management in Islamic Financial Institutions (Doctoral), Risk Management of Islamic Financial Institutions (Masters), Structuring Financial Requirement (Masters) and Structuring Financial Requirements (Masters)
Professor Dr. Aishath Muneeza
A Brief Introduction
Professor Muneeza is a professor and the associate dean for students and internationalisation at INCEIF University in Malaysia, which is renowned as the global University of Islamic Finance. She has an extensive career, having served as the first female Deputy Minister of the Ministry of Islamic Affairs in the Maldives, Deputy Minister of the Ministry of Finance and Treasury in the Maldives, and Head of Islamic Finance at the Capital Market Development Authority of the Maldives.
She has also been a member of the Islamic Fiqh Academy (National Fatawa Council of the Maldives), the first chairman of the Hajj pilgrimage fund at Maldives Hajj Corporation Limited, and the chairman of Maldives Center for Islamic Finance Limited. The government of the Maldives established the latter to position the country as the hub of Islamic finance in South Asia. Professor Muneeza has played key roles as an Islamic finance consultant, contributing to developing the first Shariah-compliant Islamic microfinance scheme in the Maldives.
Furthermore, she has served as the Shariah Advisor for structuring all corporate sukuk offerings in the Maldives and private sukuk and Islamic treasury instruments for the Maldivian government. Professor Muneeza was a consultant involved in drafting the legal framework for the country’s Islamic capital market. Since 2013, she has been a registered Shariah Adviser with the Maldives Capital Market Development Authority, specialising in structuring Islamic capital market products. She is also a registered Shariah Adviser at the Securities Commission Malaysia.
From 2011 to 2022, Professor Muneeza chaired the apex Shariah Advisory Council of the Capital Market Development Authority of the Maldives. She currently serves as the chairperson of various in-house Shariah advisory committees and is a member of the Board Shariah Committee of CIMB Islamic, Malaysia, and Munich Re. Additionally, she is a member of the Public Interest Monitoring Consultative Committee (PIMCC) of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Professor Muneeza is an elected executive committee member of the Bar Council of the Maldives.
Academic Qualification
Ph.D. International Islamic University of Malaysia (IIUM), 2013.
Title: Title: “Legislative conflict facing Islamic banking in Malaysia”
LL.M. International Islamic University Malaysia (IIUM), 2010.
LL.B (Hons) International Islamic University Malaysia (IIUM), 2009.
Professor Muneeza is specialising in structuring Islamic capital market products.
- “Islamic Social Finance Masterclass” at the Global Forum on Islamic Economics and Finance (GFIEF 2024) 27th May 2024
- Training for EXCO and Non EXCO on Essentials In Islamic Banking & Finance and Islamic Social Finance (1.0) Maybank Group
- 3rd International Conference on Islamic Economics 2024 (3rd ICONIE 2024) 24th – 25th April 2024 (Physical & Online), Hotel Holiday, Sarajevo, Bosnia & Herzegovina
Books
- Application of Zakat From Classical and Contemporary Perspective World Scientific.
- Islamic Finance in Eurasia: The Need for Strategic Change Edward Elgar.
- Application of Hire Purchase Under Shirkah
- Al-Milk (HPSM) in Islamic Banking and Finance: A Shariah Analysis Palgrave Macmillan.
- Sadaqa House: Inspiring ‘adl and ihsan in the realm of Islamic Banking.
- Islamic Social Finance: Law and Practice in Malaysia Springer.
- Alternative Financial Instruments To Riba And Their Roles In The Distribution And Redistribution Of Wealth. Kuala Lumpur, Malaysia: Universiti Malaya Press.
- COVID-19 and Islamic Finance Cambridge University Press.
- Islamic Finance in Africa: The Prospects for Sustainable Development Edward Elgar Publication.
- The institution of waqf: an innovative financial tool for socioeconomic development. Malaysia: Pearson.
Teaching responsibilities:
-
Doctoral:
- Seminar in Shariah
-
Masters:
- Commercial Law and Legal Documentation for Islamic Financial Services
- Commercial Law and Legal Documentation for Islamic Financial Services
- Islamic Capital Market
- Shariah Audit and Compliance
- Shariah Rules and Issues
-
MBA:
- Audit and Compliance
- Islamic Capital Market
- Islamic Capital Market
Supervision information:
-
Co-Supervisor: PhD Thesis:
- 2023: Randi Swandaru
-
Supervisor: PhD Thesis:
- 2021: Yousuf Sultan
Dissertation Assignments
-
Co-Supervisor: PhD Thesis:
- 2022: Siti Abi binti Othman
- 2022: Bilkis Lawal Shuaibu
Thesis Assignments
-
Supervisor: PhD Thesis:
- 2020: Mohamed Ayaz Mohamed Ismail (ID1300029)
For enquiries and information
Please contact coe@inceif.edu.my | +603 – 7651 4232
INCEIF UNIVERSITY
University Registration No. DU018 (W)
ISRA Research Management Centre (ISRA RMC)
Jalan Tun Ismail,
50480 Kuala Lumpur,
Malaysia
(Company No. 200501036588 (718736-K))
Phone | 03 7651 4202
Email | rmc-isra@inceif.edu.my