Call for Proposals

Islamic Economy Research and Innovation Fund (IERIF)

INCEIF University, in collaboration with MIFC, is pleased to announce the Call for Proposals for the Islamic Economy Research and Innovation Fund (IERIF). IERIF culminates from the announcement made in the Malaysia Budget 2024 Speech by YAB Dato’ Seri Anwar Ibrahim Prime Minister and Minister of Finance. An amount of RM20 million has been allocated by the Ministry of Finance to stimulate innovative and applied research in Islamic economy and finance in areas that are aligned with the Ekonomi MADANI aspiration.
All researchers and academicians from private and public institutions based in Malaysia are invited to submit both applied and fundamental research proposals that provide practical and innovative solutions to address the emerging socio-economic issues in Malaysia through values and impacts in line with the objectives of Shariah (Maqasid Shariah) and the Tayyib principle.

IERIF objectives

  • To spur research, creativity and innovation in Islamic economy in Malaysia aligned with the aspiration of the Ekonomi MADANI.
  • To produce practical and innovative solutions to address emerging socio-economic issues through values and impacts in line with the objective of Shariah (Maqasid Shariah) and the Tayyib principle.
  • To promote a balanced distribution of wealth, eradicate poverty, foster collaboration and encourage sustainable development.

Proposals that clearly align with our national agendas, strategies and policies are very much welcomed, in addition to meeting any of the following Focused Research Clusters:

Focused Research Clusters

Islamic Economy & Sustainability

Islamic finance, Islamic social finance, Green economy, Halal economy, Circular economy, Food security, High impact/quality investments, Sustainable fiscal conditions

Shared Prosperity

Sustainable and inclusive entrepreneurship, Value-added employment creation, Rakyat’s quality well-being

Innovation and Advancement of Knowledge

Breakthrough research, Innovative and inclusive technology and digital economy

Other important considerations include the proposed project’s:

Economic impact

Social impact

Environmental impact

Policy Impact

Potential development impact

Scalability

Replicability

Sustainability

We encourage all applicants to read the IERIF Application Guidelines properly to ensure the relevance of their proposal submission.

Research proposal submission can be submitted using the given template, which is accessible via the Islamic Islamic Economy Research and Innovation Fund (IERIF) website. The research proposal submission deadline is 26 July 2024 (Friday). This timely initiative allows researchers and academics to collaborate with strategic partners from the industry or stakeholders in Malaysia. Through the combination of industrial intellect, expertise and experience, practical and impactful solutions can be developed to address the emerging socio-economic issues in Malaysia. The integration of these solutions with the fundamentals of the Islamic economy would shape an economy that promotes a balanced distribution of wealth, eradicates poverty, fosters collaboration, and encourages sustainable development for the betterment of the nation in particular and the planet in general.

For further details, please visit IEIRF at https://ierif.inceif.edu.my/