In order to achieve the desire of the International Islamic Fiqh Academy (IIFA) to benefit from the expertise and experiences that abound in many prestigious and esteemed universities and scientific centers inside and outside the Muslim world, His Excellency Prof. Koutoub Moustapha Sano, Secretary General of the Academy, and His Excellency Prof. Azmy Omar, President and Executive Director of the International University specialized in Islamic Finance (INCEIF), signed a strategic cooperation agreement between the two institutions on Wednesday 19 Muharram 1444H, corresponding to 17 August 2022G, at the university’s headquarters in Kuala Lumpur.

This agreement aims to build a strategic partnership in the field of mutual benefit from the scientific and research capabilities and abilities of the two institutions, and a joint study of the issues of the financial industry and Islamic finance in order to develop this important sector and advance its governance in accordance with Shariah and its principles. The agreement also aims to enable the two institutions to jointly organize conferences, seminars, workshops and training that deal with industry developments in terms of analysis, development and guidance.

Following the signing of the agreement, His Excellency the Secretary General expressed his happiness with the tangible development that the university is witnessing, and the steady progress in the field of intensive education and specialization in Islamic finance, and his appreciation for the scientific results and achievements that the university has achieved in recent years at the level of scientific research and the graduation of qualified specialists in the field of Islamic finance. His Excellency also noted that this agreement will be an opportunity to recruit male and female researchers from the various colleges and institutes of the university to participate in the Academy’s sessions, seminars and conferences. His Excellency added that the Academy looks forward to strengthening close scientific and research cooperation with the research teams of the university’s faculty members, and to what they will provide of opinions and experiences that contribute to taking appropriate Fiqh decisions. His Excellency also indicated that the university, with its advanced research capabilities in the field of Islamic finance, can effectively contribute through experts, researchers and faculty members in various financial and economic issues that fall within the interests of the Academy.

In implementation of the terms of the memorandum, the two parties agreed to form a specialized committee to determine aspects of cooperation between them, and the ways and mechanisms of implementation as envisaged in the memorandum itself, and it has the authority to seek the assistance of whomever it deems appropriate to implement all the terms of the agreement.

The signing ceremony of the agreement was attended by Prof. Mansour Ibrahim, Executive Vice President of the University, and Prof. Akram Lal El-Din, Executive Director of the International Academy of Islamic Finance (ISRA).