> Fund for Shariah Scholars in Islamic Finance

PRINT       EMAIL

Shariah Research Grant

The Shariah Research Grant is part of the Fund for Shariah Scholars in Islamic Finance, which was established to enhance knowledge, research, talents, and intellectual discourse in the field of Islamic Finance. The Fund represents Bank Negara Malaysia's commitment to strengthen the development of the Islamic financial industry. [See also: Shariah Scholarship Award]

The Grant is intended to accelerate the pace of research, to provide new insights and perspectives, as well as to provide the Islamic finance industry a broader range of opportunities to tap the richness of Shariah to expand their business.

The Grant is limited to supporting research in the area of Shariah relating to Islamic finance. The research should be of interest to the broad range of financial industry practitioners, of significance by producing new insights on topics of interest, contributes to the Shariah dynamism and its potential application in the Islamic financial services industry.

Eligibility
Grant Amount & Coverage
Grant Conditions
Reporting Requirements
Disbursement of Funds
Intellectual Property & Publishing Rights
Conduct of Research
Application Process & Deadlines
Contact Information

Eligibility

The Research Grant is open to research institutions and institutions of higher learning, of all countries.

Individuals who are or will be affiliated with the above institutions may also apply for the grant provided that they:

• possess doctoral degrees with a minimum of 5 years post-doctorate research experience; and
• have exceptional research ability at the international level.

Grant Amount & Coverage

The maximum grant amount will depend on the type of research project and will be disclosed in due time.

The Grant may be used to cover the cost of:

• Travel and transportation. Only travel expenses (domestic and international) related to the research work are claimable, including other approved allowances such as accommodation and meals. The international trip must be strongly justified. Only one (1) international travel is allowed for the whole project duration, and must incur the lowest possible airfare using the shortest route. Travel costs should be fully itemized; and the length of time for which subsistence is sought is justified;

• Remuneration of contract and temporary research staff. Up to two (2) contract or temporary staff’s salaries and wages are claimable during the duration of the project. They must be directly involved in the research work. Stipend may be available for researchers but will be decided on a case by case basis. Period of employment and hourly/monthly rate for research assistants should be stated and justified;

• Research materials and special equipments. Only expenses for research materials and special equipments directly related to the research work are claimable, such as subscription to journals and articles, purchase of books and magazines, computer software, photocopying, printing, binding, filming, consumables (stationeries, etc), postage, telephone, fax, and other expenses necessary to complete the project. Capital goods such as computers and mobile telephones are not claimable; and

• Special services. Consultancy, translation, payment of research subjects, data gathering and processing costs are claimable.

Grant Conditions

All research must commence within one month of the date of the Agreement. It must be completed within the period as stipulated in the Agreement, which will not normally exceed 12 months.

Reporting Requirements

The grant recipient is required to provide the Research Evaluation Committee with periodic reports, such as progress reports and financial reports. The reports must be submitted in a timely manner, based on the agreed phases during the research project. Otherwise, the Research Evaluation Committee may suspend or stop the funding for the research. At the end of the research project, the grant recipient is also required to submit a final research report and a project cash flow report to the Research Evaluation Committee. The Shariah Fund Committee will deliberate on the report and may require the grant recipient to publish and/or present their findings.

Disbursement of Funds

Disbursement of funds for the research project is subject to the approved amount, and will be made according to the agreed phases of the research project. The grant recipient is required to furnish the Committee with the complete documentation (including invoices and receipts) to support the claim.

Intellectual Property and Publishing Rights

All the research-related data collected and reports prepared during the performance of the grant agreement are the property of Bank Negara Malaysia and will be disposed of at the Bank’s discretion. Bank Negara Malaysia is entitled to publish the research reports in any form as it deems fit, for the purpose of education and knowledge transfer. This notwithstanding, the grant recipient is encouraged to publish and present the research findings, but subject to prior approval by the Bank.

Conduct of Research

Researchers should be honest in respect of their own actions in research and in their responses to the actions of other researchers. This applies to the whole range of research work, including designing experiments, generating and analyzing data, applying for funding, publishing results, and when peer reviewing the work of other researchers. The direct and indirect contributions of colleagues, collaborators and others should be acknowledged. Researchers should refrain from plagiarism, piracy, fabrication of results, or infringement of intellectual property. Committing any of these offences is regarded as a serious disciplinary offence, and will be dealt with by the Shariah Fund Committee. Researchers should also declare and manage any real or potential conflicts of interest, both financial and professional.

Application Process & Deadlines

Applications must be submitted with the research proposal (as detailed below) together with the following:

• Application form [Word, 208K]
• Curriculum vitae of research personnel involved
• Certified copies of academic certificates and transcripts (with English translation if the original copy is not in English)
• Two (2) letters of recommendation written by individuals under whom you have studied or worked, and who are able to comment on your qualifications for the award.
• Photocopy of personal identification document (passport or birth certificate or identity card) of the research personnel involved
• Other relevant materials to support the application.

The research proposal must include the following:

• Aims and objectives of the research
• Relevance of the research work to the Islamic finance industry, Shariah or Fiqh Muamalat
• Impact of research from the next course of actions recommended from the expected output, which should be significant by offering important new insights on topics of interest
• The applicant’s research expertise relevant to the research proposal
• The project schedule or phases of the research
• Plans for publication and dissemination of the research results
• Research budgetary requirements

Applications must be countersigned both by the Head of Department or Head of Research Centre or their equivalent, and the Head of respective institutions or by their authorized nominees.

Correspondence address

Please mail the completed application to:

Shariah Research Grant
International Shariah Research Academy
2nd Floor, Annexe Block, Menara Tun Razak
Jalan Raja Laut, 50350 Kuala Lumpur
Malaysia

Application Timeline: Applications are invited and accepted throughout the year. However, application received will be evaluated twice a year (31st December and 30th June every year or as advertised).

Only short-listed applicants will be notified and may be required to attend an interview.

Contact Information

For any enquiry regarding the Scholarship, please contact:

Shariah Scholarship Award
International Shariah Research Academy
2nd Floor, Annexe Block, Menara Tun Razak
Jalan Raja Laut, 50350 Kuala Lumpur
Malaysia

General Line: +603-2781 4000
Fax: +603-2691 1940

Email: info@isra.my

See also: Shariah Scholarship Award

Last Updated Date: 12 June 2009