Shariah governance.
Strengthening the structures that support accountability and Shariah compliance.
Open to possibility.
Real-world relevance.
PILLAR
IERIF / Research with purpose
Islamic
Finance.
Principled finance.
Progress with purpose.
Connecting Islamic values with financial innovation — advancing a Shariah-compliant financial system that is competitive, inclusive, and built to serve society.
Exploring financial innovation that stays rooted in Shariah principles while responding to the needs of modern economic life.
Explore the researchIdeas in action05↗
Research projects exploring responsible financial innovation.
A values-led lens03✳
Shariah governance, Financial innovation, Social finance.
Connected by purpose05↗
Research pillars working towards a more sustainable economy.
01 / Purpose & perspective
Values at the heart
of innovation.
The Islamic Finance pillar advances research that keeps the Islamic financial system Shariah-compliant while remaining dynamic, competitive, and inclusive. Under this pillar, IERIF supports work spanning Islamic financial contracts, risk governance, capital markets, and the digital transformation of Islamic finance — placing Maqasid al-Shariah at the centre of financial innovation.
More about this pillar
Projects under this pillar examine how Islamic institutions report and manage Shariah non-compliance risk, how emerging technologies such as distributed ledger technology can transform the governance of Islamic social finance, and how new instruments can help market participants manage equity exposure in a Shariah-compliant manner.
The pillar also explores areas where Islamic finance intersects with innovation and social purpose — from valuing intangible assets and closing funding gaps to re-examining classical contracts for contemporary practice. Each study is designed to ensure the ethical foundations of Islamic finance continue to speak to the realities of modern economic life.
Financial innovation.
Developing instruments and approaches for contemporary financial needs.
Social finance.
Connecting financial resources with inclusion, trust and social purpose.
02 / Explore the work
Research for
real possibilities.
Five research projects.
One commitment to finance with purpose.
Showing 5 of 5 projects
RESEARCH / 01
Shariah governance
Stronger Shariah Governance
Examining Shariah non-compliance risk reporting and the role of risk governance in Malaysian Islamic financial institutions.
Full research title
Shariah Non-Compliance Risk Reporting by Islamic Financial Institutions in Malaysia: The Mediating Role of Risk Governance
RESEARCH / 02
Digital social finance
Digital Trust in Social Finance
Exploring how distributed ledger technology can strengthen governance in Islamic social finance.
Full research title
Transforming Governance in Islamic Social Finance: Integration of Distributed Ledger Technology
RESEARCH / 03
Capital markets
Managing Equity Risk
Designing a Shariah-compliant stock index futures contract to help manage equity risk.
Full research title
Designing a Shariah Compliant Stock Index Futures Contract for Managing Equity Risk
RESEARCH / 04
Innovation & funding
Unlocking the Value of Ideas
Exploring how Islamic intellectual property can be valued to address funding gaps in Malaysia.
Full research title
Valuing Islamic Intellectual Property: Addressing Funding Gaps in Malaysia
RESEARCH / 05
Islamic financial contracts
The Future of Bay’ al-Dayn
Re-examining the theory, practice and future direction of Bay’ al-Dayn in the Malaysian context.
Full research title
An Assessment of the Theory of Bay' al-Dayn, Its Practice and Future Direction: The Case of Malaysia
CONNECTED BY PURPOSEDifferent perspectives.
Different perspectives.
Shared possibilities.
Keep exploring our research pillars.
A wider view of a better future.
