Day 1
The Accounting Research Institute (ARI) organizes a three-day research retreat to discuss its phase 3 research projects for 2013 & 2014. Themed "The Internationalization of ARI HICoE", the focus of each research project is to invite international collaborators to participate either in the form of comparative studies, benchmarking or joint projects. From its first day meeting and discussions, the group identifies seven research clusters within ARI's niche area of Islamic Financial Criminology (IFC). The seven clusters are namely (1) Islamic Microfinance, (2) Waqaf, Zakat & Infaq, (3) Shariah-based capital market & governance, (4) Financial Fraud Prevention Mechanism, (5) AML/CFT, (6) Non-Profit Organizations and (7) Corporate Integrity System. Basically, in support of Malaysia's vision to become the global hub in Islamic Finance, ARI's niche research in Islamic Financial Criminology aims to develop new products for the Islamic Finance sector. At the same time, research in Financial Criminology hopes to identify relevant fraud risk indicators and to establish possible fraud prevention programs to "protect" the Islamic Finance industry. The first day is basically used by ARI research fellows to brainstorm ARI's internationalization agenda. To formalize international collaborations, ARI hopes to sign memorandum of understanding (MOUs) and memorandum of agreement (MOA) with as many strategic research partners as possible. More importantly, the collaborations hope to see the emergence of new knowledge and new model to signify progress in Islamic Financial Criminology. In addition to research publications, ARI hopes to create impact to the society and the community it serves.
