MOF/MOHE BUDGET INITIATIVES 2025

The Ministry of Finance (MOF) awarded a RM5 million research grant to IIUM’s Kulliyyah of Economics and Management Sciences (KENMS) to advance Islamic economics, finance, management, and accounting. Following approval under Budget 2025, IIUM requested disbursement in December 2024, formed a governance working committee in March 2025, and received the first tranche of RM2.5 million in late April 2025. Between May and August 2025, KENMS solicited, evaluated, and funded approved research proposals. This mid-term report details financial utilization, research outputs, capacity-building activities, and remaining plans for the second half of the grant period.

Project Rationale

• Institutional Leadership: KENMS is uniquely positioned to drive this initiative due to its established track record of integrating Islamic principles into economic and managerial sciences.
• Comprehensive Structure: Unlike specialized institutes, KENMS spans four departments (Economics, Finance, Accounting, and Business Administration), allowing for an interconnected approach across all four disciplines.
• Established Capacity: IIUM’s deep academic networks, publishing record, and expertise ensure immediate, effective fund mobilization.

Channeling the RM5 million to a single institution streamlines governance, ensures consistent project oversight, and delivers coherent, policy-relevant outcomes.

Managed across four key domains which is Research (34%), Academic (31.6%), Peneraju Global (26.4%), and Community (8%), the initiative oversees a total portfolio of 76 active research projects across five academic departments. As of mid-2026, over 50% of the allocated budget has been utilized, delivering impactful outcomes such as published scholarly books, high-indexed journal articles, new curriculum and micro-credential modules, and direct micro-financing support for local entrepreneurs through the i-Taajir community program