ISRA Institute

About Us

ISRA Institute, formerly known as the International Shari’ah Research Academy for Islamic Finance (ISRA), was established in 2008 by Bank Negara Malaysia as a premier research institution specialising in applied Shariah in Islamic finance. Globally recognised, ISRA Institute has produced over 200 Shariah research publications, including textbooks, journals, and research papers, widely referenced both locally and internationally.  

The Institute oversees three Centres of Excellence and a Research Management Centre to fulfil its mandate in advancing thought leadership and innovation in Shariah and Islamic finance research.  

• Centre of Excellence for Applied Shariah in Economics and Finance (CASHiEF): 

  Serves as a bridge between Shariah theory and its practical application in economics and finance. CASHiEF aims to become a leading global research hub that advocates the implementation of robust maqasidic frameworks to ensure that Islamic financial and economic systems align with the ultimate objectives of Shariah.

• Centre of Excellence for Islamic Social Finance (CoE ISF):

  Leads the implementation of INCEIF’s initiatives to promote financial inclusion and support the United Nations Sustainable Development Goals (SDGs). Aligned with maqasid al-Shariah, CoE ISF advocates social welfare, compassion, socioeconomic justice, and equitable financial access for all.

• Centre of Excellence for Research and Innovation in Islamic Economics (i-RISE):

   Dedicated to policy-driven and innovative research, i-RISE supports Malaysia’s economic development under the government’s Ekonomi Madani framework by formulating actionable measures for the benefit of the rakyat. The Centre also plays a key role in advancing the MIFC Leadership Council’s priority areas, including knowledge enhancement, capacity building, and institutional development.

• Research Management Centre (RMC):

   Oversees and manages various research activities, including internal, national, international, and industry grants. RMC also facilitates research commercialisation, organises research-related events, and supports the production of high-impact publications.

As part of its commitment to innovative thought leadership, ISRA Institute also established i-FIKR, an advanced digital database that serves as a comprehensive and authoritative repository of Shariah knowledge in Islamic finance. Following the consolidation exercise between ISRA and INCEIF University in July 2021, ISRA Institute has broadened its research scope beyond applied Shariah to include various fields within Islamic economics and finance. These fields encompass management, business and marketing, corporate finance, entrepreneurship, financial technology (fintech), econometrics, accounting and auditing, the halal economy and social finance. ISRA Institute strives to be the global hub for research and expertise in these areas.