IsDB Regional Office, Kuala Lumpur, Malaysia, 7 September, 2017 – In line with its mandate to contribute to the socio-economic development of its 57 member countries, the Islamic Development Bank (IsDB) is facilitating academic cooperation between major universities in Malaysia and Libya.

Through its Capacity Development Department (CAP) and Regional Office in Kuala Lumpur, the Jeddah- based AAA rated development bank, arranged a visit by Libya’s “Islamic University of Al Saied Mohamad Bin Ali Al Sanussi”, IUS, to the International Islamic University Malaysia (IIUM)’s campus in Gombak, in August.

During the visit, officials and faculty members from Libya’s IUS, studied grounds for academic cooperation and capacity building with IIUM in various fields including in Islamic banking and finance.

“The Malaysian experience is an inspiring one; its success is visible to everyone and we are here to replicate this success,” stated Dr. Mohammed Jarullah, head of the delegation and President of IUS.

According to Dr. Jarullah, IUS is attaching high significance to cooperating with IIUM and other Malaysian centers of excellence for a variety of options including establishing a center with IUS for consultancy, professional certification as well as Masters and PhD programs in Islamic banking and finance.

Meeting with the visiting IUS mission and IIUM officials at Gombak campus, the Acting Director of the IsDB Group Regional Office in Kuala Lumpur, Kunrat Wirasubrata, referred to Malaysia as one of the most advanced countries in the world with regard to Islamic finance.

“A major part of all Sukuk (Islamic bonds) currently in circulation in the world is issued in Malaysia and IIUM graduates are working in leading positions in Islamic financial markets around the world, so you are at the right address,” stated Kunrat Wirasubrata. He then added that IsDB is in full readiness to do its utmost to continue encouraging these exchanges of academic expertise and to further fertilize the collaboration amongst member countries, including the ongoing academic cooperation
between Malaysian and Libyan academic centers.

During their 5 day visit to Kuala Lumpur, the IUS delegation comprising the IUS President as well as research, cooperation, education and training officials of the university, also held meetings with academic officials at The Global University of Islamic Finance, INCEIF, and the International Shari’ah Research Academy for Islamic Finance, ISRA.

The Islamic University of Al Saied Mohamad Bin Ali Al Sanussi, IUS, was primarily established in Libya in 1961. Nearly 4500 students are currently studying in 10 colleges at IUS in various majors including; Islamic economics and management, history and civilization, education, languages, and Quranic studies.