On the second day of the Retreat, researchers presented their research proposals. For each proposal, the outcome must include producing at least 2 Masters or 1 PhD students, four indexed publications, one of which must be in Q1/Q2, 1 innovative product with intellectual property, 1 international networking with research program and sourcing of grants of at least RM100,000. The Islamic-based Business Model in Enhancing Good Governance and Wealth Creation research cluster presented five research projects on Islamic microfinance, iBiz Waqaf, social enterprise economics, Islamic philanthropy and shariah audit. The Corporate Integrity, Ethics and Risk Management research cluster proposes four projects on anti-corruption in public sector, Public sector governance, corporate integrity system and risk management & governance. The Anti-Money Laundering and Anti-Fraud Mechanisms to Mitigate Financial Leakages research cluster showcases four projects: FATF standards Implementation by designated non-financial businesses and professions (DNFBP), AML/CFT in financial institutions, Predicting Fraudulent
and Non-Fraudulent Companies Using Multilayer Perceptron of ANN and Money Laundering typologies involving cases on indirect tax evasion and
smuggling. Meanwhile, the Methodologies in Financial Fraud Detection and Prevention research cluster showcases five projects, all involving the use of ICT and other computerized technologies to detect and predict the occurrences of financial fraud. One research project led by Professor Dr Takiah specifically examines the behavioural aspects of fraud and fraudsters.
