UiTM Wins Global Islamic Finance Award for Fourth Consecutive Year

UiTM Wins Global Islamic Finance Award for Fourth Consecutive Year


It’s a distinct honour for ARI HICoE UiTM to receive the GIFA Awards for the fourth consecutive year. UiTM is pleased to be acknowledged with the “Global Research Excellence in Islamic Financial Criminology Award 2017” as well as the “Advocacy of Islamic Financial Criminology GIFA Special Award” which recognises the Director of ARI, Professor Dr Normah Omar, for her extraordinary leadership in spearheading research in Islamic Financial Criminology. This achievement is yet another testimony of ARI’s continuous commitment to excellence in the Islamic Financial Criminology Research Agenda.”


Professor Emeritus Dato’ Dr Hassan Said, Vice Chancellor, UiTM


The Accounting Research Institute (ARI) of Universiti Teknologi MARA has again been recognised internationally for its sustained efforts, commitment and dedication to advocating academic research in Islamic Finance. Despite keen competition, ARI clinched the Global Research Excellence in Islamic Financial Criminology Award 2017” award at the seventh Global Islamic Finance Awards (GIFA) ceremony that was held on 6th September 2017 at the Hilton Hotel, Astana, Kazakhstan.

ARI’s success is due in no small part to the extraordinary leadership provided by its Director, Professor Dr Normah Omar. It was therefore double joy for ARI when Professor Normah was conferred the “Advocacy of Islamic Financial Criminology GIFA Special Award” in recognition of her tireless efforts in advancing research in the area of Islamic Financial Criminology as well as engaging with various organisations to combat financial crime. Professor Dr Normah Omar has been ARI’s director since its inception in 2006. At the helm, she has led ARI in winning a variety of international awards that include the GIFA awards from 2014 to 2017, the ACQ Global Awards in 2015 and 2016, the ASEAN Global Risk Awards in 2016, and the Global Good Governance Award in 2017.

GIFA awards are the most prestigious awards in the Islamic finance services industry. The awards recognise individuals and organisations for their successes and best practices in the Islamic finance sector.  The GIFA awards are organised by Edbiz Consulting, a leading London-based Islamic financial consultancy since 2011.

The GIFA 2017 awards ceremony was attended by Islamic banking and finance professionals from around the world, including the Gulf Cooperation Council countries (GCC), Malaysia, USA, Europe, Indonesia and Pakistan. The increase in this year’s nominations intensified competition. “The Awards Committee takes on a positive view on the intense competition the Committee is seeing in some of the GIFA categories. This is evidence of the huge potential that the industry has to offer to the mainstream finance,” said Professor Humayon Dar, Chairman and President of Edbiz Consulting.

In past years, GIFA recognised ARI with the ‘Best Research and Development in Islamic Finance’ award in 2016, the ‘Pioneer in Islamic Financial Criminology Research’ award in 2015, and the ‘Best Islamic Finance Education Provider’ award in 2014. ARI continues to strive hard to reach even greater heights as it lives up to its status of Higher Institution Centre of Excellence (HICoE), accorded by the Ministry of Higher Education Malaysia in 2010.

In tandem with the government’s aspiration to make Malaysia a global Islamic Finance Hub, ARI’s dedication to research in Islamic Financial Criminology is not just timely, but extremely crucial to support a sustainable Islamic Finance Industry.  Within seven years since its inception, ARI has become a global leader in Islamic Financial Criminology research. ARI’s research in Islamic Finance has had implications for Islamic Impact Investment, Islamic microfinance, Islamic-based Social Enterprises, E-Biz Waqaf and Islamic Philanthropy. Beyond its focus on Islamic Financial Criminology, ARI also works in the broader area of Financial Criminology that includes anti-money laundering & anti-terrorism financing, financial fraud, corruption prevention mechanisms and the development of corporate integrity systems.







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