The International Centre for Education in Islamic Finance (INCEIF)
| The International Centre for Education in Islamic Finance
(INCEIF) established a special fund foe scholarships and R&D
The fund "Dana Khas INCEIF" was set up by the International Centre for Education in Islamic Finance (INCEIF) in 2010.
INCEIF was started by Bank Negara Malaysia in 2006 as an global
university for Islamic finance. As in 2010 the fund has since
received contributions totaling about RM 1 million from a number of
local and foreign financial institutions.
This global university offering academic and professional qualifications in Islamic finance.
Among others, INCEIF is committed to elevate and advance Islamic financial knowledge, develop future leaders in the Islamic finance industry through learning programmes and serve as the centre for collaboration with other Islamic financial educational centres.
This is important to the Malaysian Islamic finance industry as it is seen to
be the most progressive and attractive in the world with banking assets
exceeding US$30 billion and having the largest Islamic private debts securities
market of US$35 billion.
An endowment fund of RM500 million was allocated by Bank Negara Malaysia to
cover the operational expenditure of INCEIF.
This is in addition to strategic relationships with Takaful operators and
similar institutions from Indonesia, Pakistan and Sri Lanka.
ISRA also act as the repository of Islamic knowledge for Shariah views or fatwas and undertake studies in contemporary issues in Islamic financial industry.
As in 2013, Malaysia has :