Islamic banking and finance
Islamic banking and finance has evolved rapidly in recent years and is among the fastest growing financial sectors in the world, with an estimated annual growth of 20 per cent. Today, the total assets of the Islamic financial system have surpassed one trillion US dollars, a five-fold increase over the past five years.
Monash Sunway, Malaysia, has been leading research efforts in Islamic banking and finance since 2002, and hosts a major international conference on the subject in Kuala Lumpur each year.
The Islamic financial model offers unique challenges and opportunities for researchers as it is consistent with Islamic law (Shari'ah) that prohibits the collection or payment of interest (riba) on loans and deposits and advocates a greater partnership between institution and investor than the conventional western model.
Islamic banking and finance is studied as part of the PhD from the School of Business, the biggest department on the Malaysian campus.
Monash Sunway researchers are currently undertaking studies to determine public perception towards Islamic banking and finance products and practices, and how this will impact on its growth in Malaysia and other regions in the world.
In another development researchers at Sunway have created a model to help developing countries create the building blocks for economic growth by embracing information technology infrastructure or "infostructure".
