INCEIF University Kuala Lumpur, 30 April 2024 – INCEIF University would like to record our utmost gratitude to Prof Ashraf Md Hashim for his 14 years of stewardship and service to the institution.

Prof Dr Ashraf officially ends his contract as the Deputy President Research/ Executive Director at INCEIF’s research arm, ISRA Research Management Centre (ISRA RMC), today. Prior to this, he was the founding CEO of ISRA Consulting. Throughout his commendable tenure, he has left an indelible mark on the organisation’s journey, contributing significantly to the collective success in particular in his leading role at ISRA Consulting.

Prof Ashraf will continue to share his expertise with the Islamic finance and related industries in his many roles including as the Chairman of Bank Negara Malaysia’s Shariah Advisory Council; a member of Shariah Advisory Council of Securities Commission, Malaysia; a member of National Fatwa Council of Malaysia; a board member of Tabung Haji and its Chairman of Shariah Board. He remains actively involved in a number of consultancies works related to Islamic finance abroad, among others, as a member of the Shariah Board for Abu Dhabi Islamic Bank and Standard Chartered Bank in the United Arab Emirates; and Noor Takaful Nigeria (Chairman of Advisory Council of Experts).

Stepping into the interim role for Prof Dr Ashraf is Dr Marjan Muhammad, Director of Research Management & Publications at ISRA RMC. She was the Director of Research Development & Innovations (previously known as Research Affairs Department) from 2013 until 2017. During her stint, ISRA RMC received an accolade of ‘IFN Best Research Provider’ for four consecutive years (2014–2017). She is currently a member of the Shariah Advisory Council (SAC) of Bank Negara Malaysia and Securities Commission Malaysia. Prior to that, she served as a member of Shariah committee at a few local Islamic financial institutions. Her involvement in Shariah advisory extends abroad where she sits on the Shariah board of Lotus Bank Ltd and Lotus Capital Ltd in Nigeria. She is the co-editor of ISRA RMC’s main textbooks namely Islamic Financial System: Principles & Operations (3rd Edn) and Islamic Capital Markets: Principles & Practices (2nd Edn).

Dr Marjan graduated from the International Islamic University Malaysia (Islamic Revealed Knowledge and Heritage (Fiqh and Usul al-Fiqh)).

Meanwhile, INCEIF’s consulting subsidiary ISRA Consulting, which recently saw the departure of Datuk Prof Dr Mohamad Akram Laldin as its CEO & Executive Director, is currently headed in the interim by its Deputy CEO Mr Wan Rizaidy W Mamat Saufi. An INCEIF Alumnus, he has years of experience in both capital markets and Islamic finance ranging from regulatory body, stock exchanges to international foreign banks. His focus areas are Islamic Capital Market Development, Islamic financing products & services, Shariah Governance and Islamic hedging solutions. Prior to joining INCEIF, he had worked at Brunei Darussalam Central Bank, the Securities Commission Malaysia, Bursa Malaysia and Saudi Stock Exchange (Tadawul).

Mr Wan Rizaidy holds a Masters in Islamic Finance Practices from INCEIF and Bachelor of Economics (Hons) degree from the International Islamic University Malaysia specializing in Islamic Economics.

END