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Kuala Lumpur, 18 Oct 2024 – INCEIF University extends its gratitude to the Government of Malaysia for the generous allocation of RM10 million to INCEIF and the International Islamic University Malaysia to jointly advance research in the field of Islamic economics.
This funding will significantly enhance the understanding and application of the universal values of Islamic economics. The allocation, announced by Prime Minister Datuk Seri Anwar Ibrahim during the tabling of Budget 2025 in Parliament today, reflects the government’s commitment to promoting Islamic economic principles.
In his speech, the Prime Minister emphasised that the development of research and academic programmes would continue to broaden the application of Islamic economics in shaping contemporary policies, in line with the principles of Maqasid Shariah, which are rooted in justice, inclusivity, sustainability, and shared prosperity.
Commenting on this positive development, INCEIF University President & CEO Professor Emeritus Dato’ Dr Azmi Omar said INCEIF was deeply grateful to the Government of Malaysia for this allocation which would greatly bolster the university’s collaborative research efforts with IIUM in the field of Islamic economics.
“This funding is a testament to the government’s trust in our institutions to drive meaningful contributions to the advancement of Islamic finance and economic thought. We aim to utilise this allocation to strengthen our academic programmes, enhance research capabilities, and develop innovative frameworks that align with the principles of Maqasid Shariah.
“Our focus will be on continuing to produce impactful research that supports inclusive, sustainable policy development, while promoting the universal values of Islamic economics for the betterment of society,” Dato’ Azmi said.
Budget 2025 was delivered by Prime Minister Dato’ Seri Anwar Ibrahim as the country’s third Madani budget. The Budget is Malaysia’s largest budget ever at RM421 billion, with the objective of revitalising the economy, catalysing transformative change and improving the overall well-being of the rakyat. The Budget strikes a strategic balance, reinforcing the nation’s commitment to fiscal resilience while navigating the challenges of the global and regional economic landscape and setting the foundation for long-term growth. (Source: EY)
The announcement was covered by news portal Free Malaysia Today
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