Kuwait Finance House Research Limited (KFHR), a subsidiary of Kuwait Finance House (KFH group), today announced the signing of a Memorandum of Understanding (MoU) with The Global University of Islamic Finance (INCEIF).

The MoU will ensure significant collaboration between KFHR and INCEIF in order to enhance research and development within the Islamic finance industry. Particular focus will be placed on driving human capital development, enhancing knowledge and understanding of Islamic finance and ensuring close cooperation around the promotion of the sector to a broader international audience.

Commenting at the MoU signing, Fahad al-Mukhaizeem, KFH Research Chairman, said: “Progress in research, innovation and institutional capacity building is vital for the continued growth of the Islamic finance industry. KFH Research has a deep understanding of the opportunities and issues within the Islamic finance industry and remains committed to supporting the sector’s continued development. The signing of this MoU with INCEIF- a globally renowned and respected institution- will play a key role in supporting this agenda”.

INCEIF plays a critical role in developing human capital for the global Islamic finance industry. Established by Bank Negara Malaysia (the Central Bank of Malaysia), as part of the Malaysian Government's initiative to strengthen the country’s position as an international Islamic finance centre, INCEIF is the only university in the world that is wholly dedicated to postgraduate study in Islamic Finance.

Daud Vicary Abdullah, President & CEO of INCEIF, said “This MoU is a strategic partnership that will play a significant role in the development of the global Islamic financial services industry. The Middle East is an important and growing market. By partnering with KFH- a successful and established Islamic finance brand in the region- INCEIF will be able to effectively leverage on this collaboration and help drive tangible development in the Islamic finance industry.”

It’s worth mentioning that MoU signing was attended by the Kuwait General Consul in Dubai and the Northern Emirates Tariq Al-Hamad as well as the Malaysian Consul in Dubai Fadel Shams Al-Deen.