NEW STRAITS TIMES ONLINE, 3rd September 2014

KUALA LUMPUR: Former banker, Datuk Dr Abdul Halim Ismail was named the recipient of the prestigious Royal Award for Islamic Finance last night, for his role in establishing the organisational structure and operating procedures of the country’s first Islamic bank in 1983.

Dr Abdul Halim, the first Malay-sian to receive the award, walked away with a medallion, a certificate of recognition and US$250,000 (RM792, 500).

The award was presented by Yang di-Pertuan Agong Tuanku Abdul Halim Mu’adzam Shah at a gala dinner, here, held in conjunction with the Global Islamic Finance Forum (GIFF) 2014.

GIFF is a high-level event that brings together regulators, scholars and financial industry players who are key drivers in the global development of Islamic finance. Dr Abdul Halim said Islamic finance is deeply connected with the real economy, offering ethical investments and funding options for businesses.

He said the principles of Islamic finance also encourage inclusiveness and collaboration to create a fair and equitable financial system that is accessible to all.

“I am honoured to receive the Royal Award and am looking forward to continuing my journey to increase awareness, understanding and appreciation of Islamic finance around the world,” he said.

Dr Abdul Halim was the managing director of Bank Islam and chairman of the board of Syarikat Takaful Malaysia, the country’s first Islamic insurance company.

In 1994, he helped set up BIMB Securities, the first Islamic stockbroking company in Malaysia.

Under his stewardship, both the industry and financial institutions flourished, making Islamic finance an increasingly attractive alternative and complement to conventional finance.

His vision and leadership also steered Bank Islam towards a successful Islamic financial institution.



Islamic Research and Training Institute, a member of Islamic Development Bank, signs MOU with International Islamic University College Selangor (KUIS) concerning International Research Centre of Islamic Economics and Finance (IRCIEF).

The objectives are:

  1. To promote individual contacts among scholars, students, and personnel of both institutions.
  2. To promote links in teaching, research and publication activities.
  3. To develop and to encourage joint research, publication, seminars, conferences and workshops.
  4. To support the exchange of academic and research staff.
  5. To develop, then opportunities avail, joint academic and research programs.
  6. To encourage any other activities that both institutions agree to be of mutual benefits.
  7. To promote any other areas of co-operation for strategic alliance to be mutually agreed upon by the Parties.

The both parties may co-operate through a range of mechanisms which may include:

  1. Participation in joint activities, projects or programs in the agreed aread of cooperation;
  2. Making financial, logistical and/or technical contribution to such activities, projects or programs;
  3. Participation in identification of complementary sources of finance and other necessary resources, and mobilization of funds and resources for implementation of such activities, projects or programs;
  4. Assistance in planning, organization and implementation of activities, projects or programs through provision of technical expertise and any other support;
  5. Supervision of on-going activities, projects and programs and post-evaluation of completed activities, projects or programs;
  6. Exchange of experience and relevant documents, data and other information; and
  7. Any other mechanisms that may be agreed upon by the Parties from time to time.