KUALA LUMPUR, 5 August 2018: – The financial industry today, including Islamic finance is confronted with a new normal – rapid advances in technology, including digital currency or better known as crypto currency. Significantly, fintech is driving financial services innovation and reshaping consumers’ expectations of financial services. However, the speculative nature of cryptocurrencies has triggered debate among Muslim scholars over its permissibility. In fact, many governments seem ambivalent, worried about the potential for instability.

UTM Azman Hashim International Business School (AHIBS) has invited three prominent speakers in Islamic finance who are Datuk Dr Mohd Daud Bakar from Amanie Advisors, Haji Razli Ramli from Islamic Banking & Finance Institute Malaysia (IBFIM), and Prof Dr Abdul Rahim Abdul Rahman from Universiti Sains Islam Malaysia (USIM) to share their knowledge and view on Islamic finance and cryptocurrencies. The forum, which entitled “Is Islamic finance relevant?: from basic to crypto world” was held at Dewan Utama, Menara Razak, Universiti Teknologi Malaysia Kuala Lumpur Campus on August 4, 2018 at 8.30am.

Other than offering participants with the opportunity to gain a deeper understanding of current issues in Islamic Finance such as cryptocurrency and fintech, this forum was part of the UTM Azman Hashim International Business School (AHIBS) initiative to promote and support transfer of knowledge and technology through teaching and research activities especially in the context of business and finance, within the scope of the university. It was also one of the initiatives to promote Master in Business Administration with concentration in Islamic Finance offered by the faculty.

Poster presentation of research findings also took place whereby winners were selected by the panelists and they were awarded with cash prizes and certificate of participation.

UTM fully supports the various initiatives and programs planned with the hope that this program is envisaged to further strengthen and facilitate various other activities between the academia and the industry, particularly in the area of academic and research activities. It would certainly enhance the level of knowledge and skills of all stakeholders involved, and would further elevate the position of Malaysian Universities in general, and UTM in particular, at the global arena.

This program was launched by UTM AHIBS Dean, Prof Dr Nur Naha Abu Mansor and attended by UTM Pro-Vice Chancellor, Prof Dr Shamsul Shahibuddin, all UTM citizens – lecturers, researchers, staffs, students, as well as industry associates and other IPT staff.