The International Centre for Education in Islamic Finance (INCEIF) is a global university offering academic and professional qualifications in Islamic finance. 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.[1] This is particularly important for the Malaysian Islamic finance industry, which is seen to be the most progressive and attractive in the world; its banking assets exceed US$30 billion, and it has the largest Islamic private-debts securities market at US$35 billion.[2]
The establishment of INCEIF reflects the need to invest in human capital to advance the Islamic finance industry. An endowment of 500 million Malaysian ringgit was allocated by Bank Negara Malaysia to cover operating expenses at INCEIF.[3]
INCEIF offers three academic and professional qualifications:[4]
In its efforts to establish a network of mutual cooperation and collaboration among institutions of higher learning, INCEIF entered into a strategic partnership with such institutions in Malaysia to strengthen the ability to leverage the respective institutions' research expertise. This is in addition to strategic relationships with Takaful agencies and similar institutions from Indonesia, Pakistan and Sri Lanka.[5][6]
The International Shari'ah Research Academy for Islamic Finance (ISRA), which was established to promote applied research in Islamic finance, is also part of INCEIF. ISRA acts as a repository of Islamic knowledge of Shariah views (Fatwā) and studies contemporary issues in the Islamic financial industry.[7]