UiTM ARI clinches GIFA Glibal Research Excellence award

ASTANA: The Accounting Research Institute (ARI) of Universiti Teknologi MARA has clinched the Global Research Excellence in Islamic Financial Criminology Award 2017 at the seventh Global Islamic Finance Awards (GIFA).

The award, presented at the Hilton Hotel, Astana, Kazakhstan on Wednesday night, was conferred in recognition of ARI's sustained efforts, commitment and dedication to advocating academic research in Islamic Finance.

At the same ceremony, ARI Director, Professor Dr Normah Omar was honoured with the Advocacy of Islamic Financial Criminology GIFA Special Award in recognition of her efforts in advancing research in the area of Islamic Financial Criminology, as well as, engaging with various organisations to combat financial crime.

Dr Normah said research on financial criminology, which has been selected by the Ministry of Higher Education as a niche research area for ARI to focus on, was indeed timely and in tandem with the government's aspiration to make Malaysia a global Islamic Finance Hub.

In fact, she said Islamic financial criminology had been recognised by GIFA as a new knowledge couplers for Islamic finance industry

"We have been promoting research since 2010 in Islamic financial criminology, so this is the acknowledgement from the global industry on our expertise. We are so delighted to receive these awards," she told Malaysian reporters after receiving the award last night.

Dr Normah said ARI would continue promoting research in mitigating financial crime such as anti-money laundering, financial fraud, corruption and bribery in the Islamic finance sector.

"I think we are all responsible to protect the Islamic finance industry against financial crime especially. It's a fardu ain and fardu kifayah for all of us," she added.

GIFA awards, organised by Edbiz Consulting, a leading London-based Islamic financial consultancy since 2011, 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.

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. — Bernama