ISRA Established To Promote Islamic Finance

KUALA LUMPUR -- Bank Negara Malaysia Wednesday announced the establishment of the International Shariah Research Academy for Islamic Finance (ISRA) to promote applied research in the area of Syariah and Islamic finance.

In a statement, it said ISRA will also act as a repository of knowledge for Syariah views or fatwas and undertake studies on contemporary issues in Islamic financial industry.

It said ISRA aims to promote innovation and dynamism into new boundaries of Islamic finance through pioneering research and rigorous intellectual dialogue.

ISRA will be part of the International Centre for Education in Islamic Finance (INCIEF) which would enable the academy to leverage on the existing infrastructure and facilities as well as to tap on the knowledge, expertise and resources of the academic faculty and post graduate students in INCIEF.

A Council of Scholars, comprising local and international Syariah scholars will be set up to provide input and assistance in the strategic direction of ISRA's research works.

Dr Mohamad Akram Laldin, who has extensive research experience in the area of Islamic finance will be appointed as the executive director of ISRA.

He is currently an Assistant Professor at the Kulliyyah of Islamic Revealed Knowledge and Human Sciences of the International Islamic University Malaysia.

He also serves as a visiting lecturer at the University of Sharjah, United Arab Emirates.