KUALA LUMPUR, Nov 5 – Bank Negara Malaysia (BNM) has called for greater support from the corporate sector to the International Centre for Education in Islamic Finance (INCEIF) to further develop the Islamic finance industry. BNM Governor Tan Sri Dr Zeti Akhtar Aziz said the role played by INCEIF, a global university of Islamic finance set up by BNM, is a crucial factor in developing human capital to spur the industry globally.
She noted that the Islamic finance industry has grown over the years to more than 20 per cent in terms of market share from seven per cent in 2000. She added that the strategy taken by INCEIF to foster collaborations with various institutions of higher learning had strengthened efforts in curriculum development, research and exchange of ideas and information in Islamic finance.
“Moving forward, we can expect greater challenge for INCEIF as a premier graduate school for Islamic finance. Meanwhile, there were more than 30 memoranda of understandings and agreements had been signed by INCEIF with institutions around the world to complement its pursuit of world class knowledge and discipline,” said Zeti at the launch of the INCEIF Endowment Fund by the Sultan of Perak, Sultan Nazrin Muizzudin Shah.
“The central bank to continue to support and enhance the potential in providing Islamic finance and research. As we move forward to the next frontier, a new approach is required (to grow the industry) and industry players needs to support INCEIF to take it to greater heights,” she added. Also present were INCEIF President and Chief Executive Officer Daud Vicary Abdullah.
