Islamic Social Finance and Development (ISFIND)


This niche research area is established to promote a high quality research in the area of Islamic Social Finance. This cluster acts as a centre for resources on areas such as zakat, wakaf, al-rahnu, Islamic finance and banking. The strategic objectives of ISFIND are:

  • Improving research and development activities in the area of Islamic Social Finance
  • Increasing the number of impactful researches in the area of Islamic Social Finance
  • Encouraging researchers in disseminating research findings through articles in refereed journals, papers in international proceedings, books and seminars
  • Enhancing national and international networking
  • Strengthening commercialization of research products.
Roles of ISFIND:
  •  As an expert resource collection centre for the niche area of Islamic Social Finance
  • As a centre that implement activities in the niche area of Islamic Social Finance
  • As a centre for specialist resource that optimizes the potential of university expertise
  • As a centre to provide systematic and professional consultancy at the national and international levels
  • As a national and international referral centre and special library collection centre
  • As a centre that creates a strong national and international network.
Leader: Dr. Anwar Allah Pitchay
Niche members:  

Dr. Haslindar Ibrahim
Dr. Nurhafiza Abdul Kader Malim
Dr. Nik Hadiyan Nik Azman
Dr. Mohd Zaidi Md Zabri


Selected Recent and On-going Research Projects:

  1. Proposing Awqaf Alternative Project (Aap) Software Application: Sustainable And Future Direction Of Malaysia Higher Education. Anwar Allah Pitchay. FRGS Grant – RM62,500.
  2. Bridging the Gap in Income Inequality by Adopting Maqasid al-Shariah Framework on Non-Bank Islamic Funds. Haslindar Ibrahim. FRGS Grant. - RM80,000.
  3. A comprehensive assessment on Islamic banking system in creating a sustainable banking model. Nurhafiza Abdul Kader Malim. FRGS Grant – RM64,900.
  4. Proposing Cash Waqf-Cooperative Model For Sustainable Development Of Malaysian Waqf Assets. Anwar Allah Pitchay. Anwar Allah Pitchay. FRGS Grant – RM82,200.
  5. Determinants Of Margins In Asian Islamic Banks. Nurhafiza Abdul Kader Malim. USM short-term Grant – RM25,800.
  6. Modelling Holistic Framework Relating Islamic Finance Development and Poverty Tajul Ariffin Masron. FRGS Grant – RM53,000.

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School of Management
Universiti Sains Malaysia,11800 USM, Penang, Malaysia.
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