As part of initiatives to develop Islamic finance as an academic discipline, the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) Group has signed a memorandum of understanding with Universitas Hasanuddin (UNHAS) of Indonesia.

The memorandum was signed by the Director General of IRTI, Dr. Humayon Dar, and UNHAS Rector, Prof. Dr. Dwia Aries Tina Pulubuhu, at the university's campus in Makassar, Indonesia on 11 October 2018.

The MOU will facilitate cooperation between the two institutions in various aspects of Islamic finance education and research innovation.

Under the partnership, IRTI will support UNHAS to develop Islamic finance academic programs especially in the areas of Sharia, financial technology (FinTech), and microfinance. IRTI and UNHAS will also conduct joint research programs in sharia-based microfinance and FinTech.

In addition, the MOU will facilitate provision of infrastructure support to make UNHAS a Center of Excellence for the Development and Training of Lecturers of Islamic Economics Programs, as well as the establishment of a sharia rural bank at UNHAS.

The two institutions further agreed to explore the possibilities of conducting joint research and training activities in Makassar as well as in Jeddah, Kingdom of Saudi Arabia.

"We are happy to sign this MOU with Universitas Hasanuddin to cooperate in various areas to facilitate innovation in Islamic finance education, capacity development and research," said IRTI Director General, Dr. Humayon Dar.

During his visit to the university, the IRTI Director General delivered a public lecture with the theme 'Islamic Finance: State of Affairs and the Future Outlook.'

Dr. Dar and his team also had a productive meeting with the senior management of the university, including with the Rector, Prof. Dr. Pulubuhu.