Friday, October 23, 2009

IF World Universities RANKINGS! - Need for a Capacity Building initiative by MIFC



Malaysia's top universities in Islamic finance like the International Islamic University of Malaysia(IIUM) and
The International Centre for Education in Islamic Finance (INCEIF) which was accorded University status
were NOT included in the Times Higher Education's World Universities Rankings 2009.


The exclusion of INCEIF is not surprising considering it's a new university. However, the exclusion of IIUM of which is one of my alma matter IS!???


Islamic Finance is one of the few areas where Malaysia have a Comparative Advantage to the rest of the world having:-


  • Set-up the Pilgrims Management Board (popularly known as Tabung Haji) in 1969 with the enactment of LEMBAGA URUSAN DAN TABUNG HAJI ACT 1969 ( which has subsequently Repealed by the Tabung Haji Act 1995,

  • Incorporated the first Islamic Bank & Takaful company (Bank Islam & Takaful Malaysia respectively ) in 1983; and,

  • Introduced the dual banking system vis the Interest-Free Banking Scheme(SPTF) in 1993; and,

  • Opened-Up the Islamic Banking System to foreign Islamic Banks in 2004 even earlier than what was required for the conventional banking system under the WTO liberalisation .


Having confidence in its Islamic Banking system, BNM via MIFC should now further consolidate its first-mover advantage by introducing and/or sponsoring a World universities/Institutions rankings for IF. Am sure the 2 named universities...if not other local universities will feature in the top 50 IF institutions if such a ranking were introduced.......SOON!


Over to you BNM & MIFC.



Note:

Author's comments re IF rankings at the Times Higher Education website. Refer:-


Comment made under the name of "Amirul HM" on 21st October 2009.

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