IAIS Malaysia

Past Events

Public Lecture: Prudential Guidelines for Product Development in Islamic Banking & Finance

Date & Time: Thursday, 05 December 2013, 02:00pm

Venue: International Institute of Advanced Islamic Studies (IAIS) Malaysia


International Institute of Advanced Islamic Studies (IAIS) Malaysia
Academy of Contemporary Islamic Studies, (ACIS) UiTM


02:00pm–02:30pm Registration of participants

02:30pm–02:35pm Welcoming Remarks by the Moderator, Associate Professor Dr. Mohamed Azam bin Mohamed Adil
Deputy CEO, IAIS Malaysia

02:35pm–02:40pm Opening remarks by Professor Dr. Mohammad Hashim Kamali, Founding Chairman & CEO, IAIS Malaysia

02:40pm–03:40pm Presentation by Dr. Muhammad Humayon Abbas Dar

03:40pm–04:40pm Q&A session

04:40pm Concluding remarks by the moderator and adjourn the talk


Speaker's Profile

click for more imagesDr. Muhammad Humayon Abbas Dar is an Islamic banking and finance expert with professional experience in structuring Shari’ah-compliant financial products for institutions that offer Islamic financial services; with considerable academic experience in different fields of economics and finance.

Deeply committed to the industry, Dr. Dar's other appointments are numerous. He currently sits on the Board of Directors of the Arab-British Chamber of Commerce, a high-level body committed to the promotion of trade and business links between the UK and the Arab world. He has also recently been appointed as a member of the Board of Directors of the Finance Accreditation Agency set up by Bank Negara Malaysia and the Securities Commission Malaysia. He is also a Research Professor at Markfield Institute of Higher Education, UK in addition to being a Visiting Professor at University Teknologi MARA (UiTM).
After spending several years in the Islamic financial services industry, Dr. Dar set up Edbiz Consulting in London, which is a boutique Islamic financial advisory firm with clients from all over the world.

He is Editor-in-Chief of the Global Islamic Finance Report, an annual publication of Edbiz Consulting, and of the Islamic Finance Review (ISFIRE), a quarterly magazine published from London. A prolific author, he sits on the editorial boards of Review of Islamic Economics and the International Journal of Islamic Financial Services. Dr. Dar belongs to the first generation of qualified Islamic economists, with formal training in conventional and Islamic economics, as well as classical Islamic jurisprudence at the International Islamic University Islamabad where he was personally tutored by the world's leading Islamic economists, jurists and thinkers. His higher studies include an MPhil and PhD (both in Economics) from Cambridge University where he conducted research on Islamic finance. His post-doctoral research has exclusively been on Islamic economics, banking and finance.

Admission is FREE, all are welcome to attend.

Download PowerPoint Presentations (in PDF format)


On 5 December 2013, IAIS was pleased to host Dr. Muhammad Humayon Abbas Dar. He is a Research Professor at the Markfield Institute of Higher Education, UK and also a Visiting Professor at University Teknologi MARA (UiTM). Dr. Dar spoke about "Prudential Guidelines for Product Development in Islamic Banking & Finance." He noted that contemporary Islamic finance is characterised by much replication of conventional instruments. He noted for instance that Islamic home financing is hardly different in substance from conventional home financing. Similarly, Islamic sukuk are very similar to conventional bonds. According to a recent survey, 80 per cent of Muslims are not happy with the direction Islamic finance has taken. What is needed, he asserted, is real innovation, not replication. Otherwise, we will merely see a further conventionalisation of Islamic finance. He proposed some measures to ensure that Islamic financial instruments remain free of interest (riba). The presentation was followed by a Q & A.

Contact Information

International Institute of Advanced Islamic Studies (IAIS) Malaysia
Jalan Elmu, Off Jalan Universiti 59100 Kuala Lumpur, Malaysia
Tel: +603-7956 9188  Fax: +603-7956 2188 / +603-7956 2966  Email: reply@iais.org.my

Quotable Quotes

Goodwill towards all is the true Religion. Let a man overcome anger by Love. - Buddha

Humour Without Malice

Here is the story of an Imam who got up after Friday prayers and announced to the people: "I have good news and bad news. The good news is, we have enough money to pay for our new building programme. The bad news is, it's still out there in your pockets".


Thus We have made of you a community justly balanced that you might be witnesses over the nations and the Messenger a witness over yourselves (Q 2:143)

IAIS Malaysia 2008-2018 - All Rights Reserved.

Do NOT follow this link or you will be banned from the site!