KUALA LUMPUR, February 27, 2023 – The Islamic Banking & Finance Institute Malaysia (IBFIM) has awarded Universiti Sains Islam Malaysia (USIM) with the Outstanding Industry Collaboration Award (IOIC) for their close collaboration in the field of Islamic finance. The award was presented by YBhg Tan Sri Dr Mohd Daud Bakar during the 4th IBFIM Certification Conferment Ceremony at the Dewan Tun Abdul Razak, Bank Rakyat Convention Centre in Kuala Lumpur on February 25, 2023.

This award signifies the cooperation between USIM, led by the Faculty of Economics and Muamalat (FEM), and IBFIM. The Memorandum of Agreement, signed in 2020, focuses on offering the Certified Professional Shariah Auditor (CPSA) program.

According to Prof Dato Dr Sharifudin Md Shaarani, the Vice Chancellor of USIM, the CPSA program is a study on Shariah audit conducted by a research team under the Accounting, Auditing, and Governance in Islamic Institutions (AAGII) Cluster with the Faculty of Economics and Muamalat USIM since 2009.

“Considering the potential of Shariah audit, AAGII led by Prof Dato Dr Mustafa Mohd Hanefah has taken steps to introduce the Shariah audit study curriculum for undergraduate programs under FEM starting in 2010. This was followed by the publication of the first book on Shariah audit by USIM entitled Governance & Shariah Audit in Islamic Financial Institutions in 2012.”

Prof Dato Dr Sharifudin Md Shaarani added that with this established collaboration, USIM is proud to award the Special Industry Partner Award in conjunction with the 20th USIM Convocation Ceremony in December 2022 to IBFIM. He hopes that the collaboration between both parties will produce a generation of experts in the Islamic finance industry in Malaysia, particularly in Shariah audit.

Also present at the event were Assoc. Prof. Dr. Khairil Faizal Khairi, Dean of the Faculty of Economics and Muamalat, as well as Prof Dr Zurina Shafie and Dr Iqmal Hisham Kamarudin.


Prepared by:
Noorumaina Mohamed Yunus
Pusat Komunikasi Strategik (StraComm)
Aras 1, Canselori Universiti Sains Islam Malaysia (USIM)
Bandar Baru Nilai, 71800 Nilai Negeri Sembilan