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About Us

ABOUT US

The International Shari’ah Research Academy for Islamic Finance, more commonly known by its acronym, ISRA, has been established to promote applied research in the area of Shari'ah and Islamic finance. It also acts as a repository of knowledge for Shari’ah views (fatwas) and undertake studies on contemporary issues in the Islamic financial industry. Moreover, ISRA contributes to strengthening human capital development in Shari’ah expertise relevant to Islamic finance and provides a platform for greater engagement amongst practitioners, scholars, regulators and academicians via research and dialogue, in both the domestic and international arenas. Through pioneering research and rigorous intellectual dialogue, ISRA aims to promote innovation and dynamism and thus extend the boundaries of Islamic finance. It is envisioned that with greater research and dialogue, mutual respect and recognition will emerge within the global community of the Islamic financial industry. As a part of the International Centre for Education in Islamic Finance (INCEIF), ISRA is able to leverage on its infrastructure and facilities as well as to tap on the knowledge, expertise and resources of its academic faculty and postgraduate students. To provide input and assistance in the strategic direction of ISRA’s research, the Council of Scholars, a group comprised of eminent local and international Shari’ah scholars, has been set up.

OBJECTIVE

Objective 1

SPEARHEAD AND CONDUCT APPLIED SHARI’AH RESEARCH IN ISLAMIC FINANCE

Shari’ah-committed in specific issues relevant to industry needs and interest

1.1 Research conducted on specific issues relevant to the need and interest of the industry
1.2 Short term: Within 3 months
1.3 Medium term: 3 months to 1 year
1.4 Long term: More than 1 year

Objective 2

ENRICH RESOURCES OF KNOWLEDGE IN ISLAMIC FINANCE

2.1 Talent Development Programme:
In the form of discourse, collaborative programmes with partners and intellectual dialogue with industry practitioners and Shari’ah scholars

2.2 Scholarship:
(i) To incentivise Shari’ah scholars/students to pursue higher educational opportunities in the field of Islamic finance
(ii) To enlarge cadre of trained Muslim professionals committed to the development of both Shari’ah and Islamic finance
(iii) To act as a financial instrument in the fulfillment of human capital needs in the ever changing Islamic financial market.

2.3 Scholar Mentor- Mentee Programme:
A programme to further enhancement the status of Malaysian Islamic finance scholars at the international level

Objective 3

PROVIDE AVENUES FOR THE DEVELOPMENT OF SHARI’AH PRACTICE IN ISLAMIC FINANCE

3.1 Industry Forum:
A platform to update the industry players on recent Shari’ah developments

3.2 Research Colloquium:
A forum to discuss research findings conducted by ISRA and other institutions

3.3 International/Regional Dialogue:
An avenue that enables regional and international scholars and practitioners to meet and exchange ideas on Islamic finance

Objective 4

PROPAGATE HARMONISATION AND MUTUAL RESPECT IN ISLAMIC FINANCE PRACTICES

4.1 Inter-school of Thought Working Group
A group of prominent scholars from different madhahib and regions to develop mutual respects for similarites and differences in Islamic finance practices around the world

4.2 Council of Scholars Working Group
A group of trouble-shooters to resolve specific issues and report directly to the council of scholars

4.3 ISRA Publications

4.4 Translation Projects

ISRA’s Core Values

I.Q.R.A.

INTEGRITY

To be principled in being consistently reliable and trustworthy. To uphold one’s promise, commitment and to not violate the trust and rights of others in the course of one’s actions.

QUALITY

Quality driven in every aspect of academic and business operations. Committed to continuous improvement through best practices.

RECIPROCITY

To treat others as one would treat oneself. Having mutual respect.

ACCOUNTABILITY

To account for one’s activities, accept responsibility for them and to be answerable for the results in a truthful manner.