INTRODUCTION
The founding of the Kulliyyah of Economics and Management Sciences (KENMS) alongside IIUM in May 1983 demonstrated the founders’ belief and commitment that economics, business studies, and accounting play a crucial role in Malaysia’s and the ummah’s development. They recognized that qualified professionals, who are also guided by ethical values, are essential for sustainable growth, fostering development that integrates physical, intellectual, and spiritual dimensions. Since the 1980s, the Malaysian government has prioritized balanced development and emphasized human capital as the cornerstone of national progress.
From its inception, IIUM, and especially KENMS, has been committed to integrating knowledge and fostering human capital, striving to educate individuals who can better serve the nation, the ummah, and humanity.
Over the past 30 years, KENMS has been instrumental in teaching economics, business studies, finances, and accounting, aligning with IIUM’s vision and mission. Initially offering undergraduate programs, KENMS now provides a comprehensive range of graduate and postgraduate programs to meet the needs of both the private and public sectors, domestically and internationally. Additionally, research, training, and consultancy activities have been integral to KENMS’s agenda. In July 2007, an Islamic Economics Unit was established with a coordinator and a working committee that has served as a ‘pro-tem committee’ for the creation of this proposed Centre.
THE RATIONALE FOR THE CENTRE
In line with the research goals of IIUM and in order to meet the increased demand for expertise in research, training, and consultancy in areas of economics and related fields, as well as economic and development-related policy studies, there is a need to establish a dedicated, formal entity that can meet this demand at both the national and international levels.
KENMS, along with the four departments of Economics, Business Administration, Accounting, and Finance, is devoted to teaching at both the undergraduate and post-graduate levels. In addition to teaching, the four departments under the Kulliyyah are also involved in administrative functions which provide further constraints to the existing responsibilities. The establishment of this dedicated entity will serve as a more effective link to take up research, training, and consultancy activities, hence expanding the contribution of KENMS to a wider audience in one of the designated niche areas of IIUM, i.e., Islamic economics and related fields. Furthermore, the Centre will assist the nation in producing and training professionals and supporting research and consultancy that integrate ethics and economics based on the vision and mission of IIUM.
VISION
MISSION
To be the leading international centre for research in Islamic Economics and related areas as well as policy studies.
To conduct research, training, and consultancy programmes to enhance the development of Islamic economics, finance, business studies, accounting, and policy studies as a viable alternative to the ummah and humanity in line with the vision and mission of the IIUM.