Launched by PM Anwar Ibrahim at INCEIF forum, the new centre of excellence aims to drive global thought leadership, ethics, and sustainability in Islamic economics.
At a high-level forum held in Kuala Lumpur on 10 June 2025 (Tuesday), YAB Dato’ Seri Anwar Ibrahim, Prime Minister of Malaysia officially launched the Centre of Excellence for Research and Innovation in Islamic Economics (i-RISE), an initiative aimed at advancing a values-based approach to economics rooted in Islamic principles.
The launch took place during INCEIF University’s forum themed ‘Reshaping the Future: Islamic Economics for a Humane and Sustainable World’, hosted in partnership with its research arm, ISRA Institute, at Sasana Kijang, Bank Negara Malaysia.
Positioned as a platform for research, policy engagement, and innovation, i-RISE seeks to reframe economic thinking by placing ethics, justice, and sustainability at the core. The initiative aligns with maqasid al-Shariah, or the objectives of Islamic law.
Backed by the Islamic Economics Research and Innovation Fund (IERIF), i-RISE is supported through allocations under Malaysia’s National Budgets for 2024 and 2025. To date, more than RM12mn has been channelled into high-impact research and academic projects.
These initiatives range from the development of micro-takaful solutions for underserved communities to ethical reforms in the labour market.
Professor Emeritus Dato’ Dr Azmi Omar, INCEIF University’s President & CEO said: “It will convene scholars, practitioners, and policymakers to make Islamic economics visible, relevant and transformative on a global scale.”
In her welcome remarks, Dr Marjan Muhammad, Deputy President Research of ISRA Institute, INCEIF University, said i-RISE reflects a values-driven economic model rooted in justice, compassion, and social responsibility, and serves as a movement to reframe how economics is approached in service of the common good.
Meanwhile, PM Anwar, in his keynote address, echoed these sentiments: “Through good governance, with clear before part of policy and instruments, institutions to protect the system from excesses. Then clarity of policies you can talk about inclusivity, they come next.”
Read the full keynote address by PM Anwar here.
Lead image / PM Anwar Ibrahim’s Facebook
