The second day is dedicated to the preparation of research proposals. All cluster heads gathered their respective researcher groups and syscronize their research objectives,
data collection instrumentation, data analysis and deliverables. The groups also needed to discuss and select the best regional and international collaborators who could add value to their research projects. In tandem with Malaysia's aspiration to become an effective global hub for the Islamic Finance Industry, ARI's research thrust in Islamic Financial Criminology has two-prong long term objectives. Firstly, through its Islamic Finance research cluster, the Accounting Research Institute hopes to develop new potential products for the industry. 
In view of ARI's own expertise, there's certainly prospects in Islamic Microfinancing, Shariah Audit, Zakat and Waqaf. Secondly, through the Financial Criminology cluster, ARI hopes to mitigate financial crime and to develop fraud prevention mechanism in order to protect the Islamic Finance industry. Researchers were accordingly grouped to prepare their respective research proposals. All proposals were presented to the selected panel of experts...
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