About 2017-03-28T17:19:49+00:00


According to official government records,

“Malaysia is currently ranked 5th globally in terms of Islamic Banking and assets, but it supplies less than 3% of the global Islamic Finance talents.”

One reason for this is the lack of consensus on a standard curriculum, which makes it difficult for the country to develop an internationally recognised centre for professional development; the critical area is the major markets in the Middle East.

In order to address the above situation, the Malaysian government has committed itself to improving both the Islamic Finance curriculum and its talent pool through project EPP-7 on Islamic Finance Education.

It is from EPP-7 that ICIFE was born.




The main objective of ICIFE is to increase and maintain the professionalism of the educators in Islamic Finance field at the national and international level.

Achieved Through

  • Curriculum development
  • Course Module
  • Seminars
  • Conferences
  • Dialogues and Workshops
  • Training
  • Database
  • Accreditation
  • Latest updates on Islamic Finance education.
  • To be the Premier global organization for providing dynamic leadership in quality assurance and enhancement of Islamic Finance Education worldwide.
  • To make significant contributions to the intellectual domains of Islamic Finance and other relevant fields of professional practice.
  • To design and develop world class curriculum for Islamic Finance Education.
  • To review and update Islamic Finance curriculum continuously for being relevant to market needs
  • To develop training modules for knowledge and skills development of talents for teaching and training students and professionals in Islamic finance.
  • To offer professional development and certification programs to academics and practitioners in the field of Islamic Finance.
  • To develop and implement a globally recognized accreditation program for Islamic Finance courses & programs.
  • To organize professional and scholarly conferences, seminars, symposia, colloquia and other forums for sharing knowledge and professional experience in Islamic Finance.
  • To publish text and reference books, journals, magazines, newsletter and disseminate those to the relevant people.

Meet the Team

Khaliq Ahmad (Prof Dr)
Khaliq Ahmad (Prof Dr)President

Meet the rest of the team →

Nor Hayati bt Ahmad (Professor Dr)
Nor Hayati bt Ahmad (Professor Dr)Vice-President

Join ICIFE as a Member!

Project Leaders & Special Project Teams

Both the International Islamic University of Malaysia (IIUM) and Bank Negara Malaysia (BNM) play the leading role as Co-Leaders for EPP7. IIUM leads in respect of academic development (Talent & Curriculum) involving key Universiti Utara Malaysia (UUM) and Universiti Sains Islam Malaysia (USIM) as National Task Force Members while BNM plays the leading role for the industry.

The Government’s aspiration is to ensure that Malaysia eventually becomes the Global Hub and Leading Centre for Islamic Finance Education. Special Project Teams were set up specifically for Talent Development and Curriculum Development. The Talent Development Team was assigned to the task of developing a talent-pool of relevant expertise on IFE while the Curriculum Development Team was made responsible for developing a comprehensive curriculum on Islamic Finance ranging from the baccalaureate degree to doctorate levels.

ICIFE’s 1st Annual General Meeting was carried out on 28th January 2014, where the Board of Directors of ICIFE were elected and appointed.

Affiliated Institutions

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