Bank Muamalat Malaysia Berhad (Bank Muamalat) has embarked on a pioneering collaboration with the International Center for Education in Islamic Finance (INCEIF) University, aiming to elevate the Islamic finance industry through tailored educational financing solutions.
The landmark partnership was formalized with the signing of a Memorandum of Understanding (MoU) today, marking Bank Muamalat as the first Islamic bank to join forces with INCEIF University, established under the auspices of Bank Negara Malaysia to advance Islamic finance education globally.
Under this collaboration, Bank Muamalat introduced the Muamalat Education Financing Solution, designed exclusively for selected programs at INCEIF University. This initiative offers financial support of up to RM100,000 to postgraduates pursuing Professional Certificates, Masters, PhDs, and equivalent programs. Eligible Malaysian students aged 18 and above with a minimum total income of RM3,000 can avail of this financing, which features an attractive introductory effective rate. Applications can be submitted through Bank Muamalat branches or online via its Muamalat Application Platform (MAP).
Khairul Kamarudin, President and Chief Executive Officer of Bank Muamalat, expressed pride in the collaboration, emphasizing, “Bank Muamalat is dedicated to supporting educational aspirations and contributing to Malaysia’s position as a global Islamic finance leader. Our partnership with INCEIF University underscores our commitment to nurturing talent and fostering innovation in the Islamic banking sector.”
Prof. Emeritus Dato’ Dr. Mohd Azmi Omar, President and Chief Executive Officer of INCEIF University, highlighted the significance of industry-academic partnerships in advancing Islamic finance. He stated, “Financial constraints often hinder individuals from pursuing further education. Bank Muamalat’s education financing scheme comes at a crucial time, enabling students to access world-class education without financial burden.”
The MoU signifies a joint commitment to enhance educational opportunities and develop a skilled workforce for the sustainable growth of the Islamic finance industry. Through this initiative, Bank Muamalat and INCEIF University aim to empower students and professionals, ensuring they are equipped with the knowledge and skills required to drive the industry forward.
