CFPs: Islamic Economy Research and Innovation Fund (Malaysia)

The Ministry of Finance has appointed INCEIF to lead the implementation and management of IERIF in collaboration with MIFC and the industry. INCEIF is duly established by the Bank Negara Malaysia and registered under the Companies Act 2016. It operates INCEIF University, a duly registered institution under the Private Higher Educational Institutions Act 1996.

INCEIF’s research arm, ISRA Research Management Centre is coordinating the implementation of IERIF. As a coordinator, its tasks include ensuring research proposals submitted by applicants are aligned with the IERIF requirements, monitoring the progress and completion of the research projects within the agreed terms, guiding research teams in the research implementation whenever required and taking necessary measures in the event of delay in the research delivery progress.

Objectives

• To spur creativity and innovative research in Islamic economy in areas that are aligned with the aspiration of the Ekonomi MADANI.
• To produce practical and innovative solutions to address the emerging socio-economic issues in Malaysia through values and impacts that are in line with the objective of Shariah (Maqasid Shariah) and the Tayyib principle.
• To promote a balanced distribution of wealth, eradicate poverty, foster collaboration, and encourage sustainable development for the betterment of the nation.

Research Focus Areas

• The research must meet any of the following focused research clusters as below:
  • Islamic Economy & Sustainability
    • Islamic finance, Islamic social finance, Green economy, Halal economy, Circular economy, Food security, High impact/quality investments, Sustainable fiscal conditions
  • Shared Prosperity
    • Sustainable and inclusive entrepreneurship, Value-added employment creation, Rakyat’s quality well-being
  • Innovation and Advancement of Knowledge
    • Breakthrough research, Innovative and inclusive technology and digital economy

Funding Information

• The grant amount shall depend on the type and scope of the each research project. Subject to the IERIF Research Guidelines, the amount may be up to Ringgit Malaysia Five Hundred Thousand (RM500,000).
• The duration of the research project shall not be more than twenty-four (24) months and it shall commence from the date of the Letter of Agreement (LOA).
• The duration of the research project shall not be more than twenty-four (24) months and it shall commence from the date of the Letter of Agreement (LOA).

Eligibility Criteria

• The grant is open to researchers and academicians from private and public institutions based in Malaysia.
• The research team must comprise of at least three (3) researchers – a Lead Researcher and two co-researchers.
• Each researcher is allowed to participate up to two (2) research projects at one time.
• It is highly recommended for the research team to collaborate with strategic partners from the industry or other stakeholders. The team must indicate the existence of agreement with the collaborating entity(ies) for each project by sharing a collaborative agreement or letter of intent of the said collaboration with INCEIF for safekeeping. Each team member and collaborating partner must never been convicted of fraudulent activities or declared bankrupt, in dissolution, or under receivership.
• The project team must consist of qualified and competent members for the entire project. Each team member must provide a clear resume (curriculum vitae) detailing their research field, experience, and achievements.
• The applicant is allowed to submit multiple applications for different projects at the same time under the condition that the applicant has strong human and financial resource capabilities.
• The project must be implemented in Malaysia.

For more information, visit INCEIF.