Monday, 6 Ramadhan 1439 / 21 May 2018

Monday, 6 Ramadhan 1439 / 21 May 2018

Young Indonesian scholar receives International Islamic Finance Award

Selasa 12 September 2017 15:16 WIB

Rep: Fira Nursya'bani/ Red: Reiny Dwinanda

Islamic finance emerges as an alternative to develop national economy. (illustration)

Islamic finance emerges as an alternative to develop national economy. (illustration)


REPUBLIKA.CO.ID, ASTANA - Young Indonesian scholar Dr. Hylmun Izhar has been awarded Upcoming Personality in Global Islamic Finance (Academic) 2017 by the Awards Committee of Global Islamic Finance Awards (GIFA). The award to Dr. Izhar was presented by Kairat Kelimbetov, the Governor of International Finance Center Astana, Kazakhstan.

“GIFA honoured Dr. Hylmun Izhar of Islamic Research and Training Institute (IRTI) as Upcoming Personality in Global Islamic Finance 2017 for his research and academic contributions to the development of Islamic banking and finance”, said Professor Humayon Dar, Chairman of GIFA, in a press statement received by, on Monday.

Professor Dar further said, “It is young scholars like Dr. Hylmun Izhar who are the torchbearers of movement of Islamic banking and finance, and Awards Committee recognized this potential to honour him. I congratulate him and his employer IRTI for receiving this prestigious accolade.

“The Awards Committee considered four extremely competitive nominations for this award and unanimously elected to present the award to Dr. Hylmun Izhar based on consensus among them that the likes of Hylmun Izhar would significantly influenced the industry in future”, added Professor Dar.

Prior to joining IDB Group, Dr. Izhar was a Research Fellow in Islamic Finance at Oxford Islamic Finance, Ltd, a wholly owned subsidiary company of the Oxford Centre for Islamic Studies (OXCIS), Oxford, United Kingdom.

He is also a lecturer in Islamic Economics and Finance at the Markfield Institute of Higher Education (MIHE), Leicester, United Kingdom, teaching various modules and supervising dissertations at postgraduate studies level.

Dr Izhar is the co-author of I for Impact: Blending Islamic Finance and Impact Investing for the Global Goals, a report published by UNDP and IDB Group. He is also one of the authors of the textbook on Islamic Capital Markets: Principles and Practices published by ISRA and Securities Commission Malaysia.

His latest book on Critical Issues in Islamic Economics and Finance Development has recently been published by Palgrave MacMillan (with F. Hadzic and V. Efendic).

Dr Izhar’s forthcoming books are Islamic Banking: Risk Management, Regulation and Supervision (with T. A. Abdul Manap) and Operational Risk in Islamic Financial Institutions: Theory, Practice and Modelling (with M. Asutay). Both are published by Edward Elgar.

In addition to numerous applied and theoretical research published in various international referred journals; such as the Journal of Risk, Review of Islamic Economics, IIUM Journal Economics and Management, Islamic Economic Studies, Journal of Islamic Banking and Finance, and Kyoto Bulletin of Islamic Area Studies.

Dr. Izhar remains actively engaged in professional life, amongst others, through delivering professional training course for regulators, government officials, bankers and lawyers in the area of risk management, product development and innovations.

Dr Izhar currently represents IDB Group at the IFSB Working Group on the Revised Standard on Disclosures to Promote Transparency and Market Discipline for Institutions Offering Islamic Financial Services.

Dr Izhar earned his PhD in Islamic Finance from Durham University during which he was honored with Distinguished Durham Doctoral Fellowship by the Graduate School, Durham University, United Kingdom.

GIFA 2017, that was hosted by Astana International Financial Centre (AIFC) took place on 6 September 2017 in Astana, Kazakhstan. GIFA, founded in 2011 by Edbiz Group, a London based international Islamic financial advisory firm.

It attempt to celebrate success of governments, institutions and individuals in Islamic financial services industry, with an ultimate objective to promote commitment to Islamic finance, adherence to Sharia authenticity and promotion of social responsibility.

The seventh cohort of GIFA winners celebrates some of the most distinguished individuals and institutions in the global Islamic financial services industry; and was attended by the President of Republic of Kazakhstan, Nursultan Nazarbayev.

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