Saturday, December 19, 2015

ARI Research Retreat

Members of the Accounting Research Institute (ARI) participated in a recent research retreat in Seremban Negeri Sembilan 0n 18-20 December 2015.  Premised on the research theme Islamic Financial Criminology, ARI develops four research clusters namely (i) Islamic-based  Business Model  in Enhancing Good Governance and Wealth Creation, (ii) Corporate Integrity, Ethics and Risk Management, (iii) Anti-Money Laundering and Anti-Fraud Mechanisms to Mitigate Financial Leakages and (iv) Methodologies in Financial Fraud Detection and Prevention.  Within each research cluster, there are between 3-4 research projects.  ARI research niche Islamic Financial Criminology is aimed to support Malaysia's aspiration to become an Islamic Finance Hub by 2020.  ARI believes that a sustainable Islamic Finance Industry is built on three very important thrusts: Firstly the need to introduce new Islamic finance products which are beyond Islamic Banking.  ARI is focusing on i-Waqaf, Islamic microfinance, Social Enterprise Economics and Islamic Philanthropy.  Secondly, the need to place proper governance mechanism to the industry.  As such, ARI gives a lot of focus on research related to corporate integrity, shariah audit, risk management and anti-corruption mechanisms.  Thirdly to develop methodologies to mitigate financial leakages.  Methodologies such as the use of Big Data, Data Analytic, Artificial Neural Network (ANN) and Data Mining will be explored as possible research topics.