As a Higher Institutions' Centre of Excellence (HICoE), ARI is to drive a niche research in Islamic Financial Criminology (IFC). Essentially there are two main research thrusts within IFC: (i) Islamic Accounting & Muamalat and (ii) Financial Criminology. The focus on IFC is in tandem with the government's aspiration of making Malaysia, the global hub is Islamic Finance. In view of this vision, fundamental research in financial criminology is important so that new policies or system can be developed to mitigate and prevent financial crime within the Islamic Finance industry and other economic sectors.



Program Overview

 

The aim of the programme is to train students whose research is of the highest quality in Accounting broadly conceived. ARI, as one of HICOEs, has a very strong research culture that includes an active seminar programme, publication and distinguished visitors. It also has close links with eight centres of excellence (CoEs).

The postgraduate program (by research) in Accounting requires students to attend research workshops and research seminars conducted by the postgraduate office, the faculty and ARI. Students will present research proposal in the second semester during their first year. Students are also encouraged to participate at an early stage in appropriate international workshops and colloquium.

Student progress is regularly monitored by the faculty supervisory committee and the coordinator of postgraduate (research). Each postgraduate student has a main and second supervisor. He or she may appoint one external supervisor outside UiTM.

AR751 - Master by Research (Islamic Finance &) Muamalat
AR752 - Master by Research (Financial Criminology)
AR951 - Doctor of Philosophy (Islamic Finance & Muamalat)
AR952 - Doctor of Philosophy (Financial Criminology)


Islamic Finance & Muamalat

The research program in Islamic Finance & Muamalat provides rigorous training in specialised areas of Islamic finance, banking, economics, management and their relevant conventional counterparts. With Islamic financial institutions now operating in more than 75 countries worldwide, and working with brands with assets approaching US$2 trillion, Islamic finance has become an important influence on the world’s financial stage. ARI offers exclusive facilities for masters and research students choosing to specialise in Islamic finance.The course provides and examines insights into different aspects of the Islamic financial environment. It will enable you to focus upon advanced developments, not only in Islamic finance but also conventional finance. You will develop a specialised understanding of the techniques particular to Islamic and conventional finance, and develop the tools necessary to investigate relevant financial management issues. You will also develop a critical awareness of ethical and corporate social responsibility issues in Islamic and conventional finance. On top of this, the syllabus explores the key activities of Islamic banks and trends in Islamic portfolio management.

Financial Criminology

The research program in Financial Criminology is designed to provide a progressive, challenging and stimulating framework of study that will equip you with knowledge and skills in forensic accounting. Due to heightened awareness and growing intolerance of fraudulent activity, demand for Forensic Accountants is rapidly increasing. Thus, forensic accounting and fraud investigation is one of the fastest growing areas of accounting, and there is an increasing global demand for specialists with forensic accounting knowledge and skills. The course will help you develop an understanding of the need for an holistic approach in the investigatory models applied as well as focusing on an appreciation and understanding of the wide variety of financial crime and how the current regulatory framework and crime control statutes have developed to deal with them. Through examining features of corporate integrity and management control systems you will gain an understanding of the development and needs of corporate governance in the context of the control theories of the firm.

The postgraduate program (by research) in Accounting requires students to attend research workshops and research seminars conducted by the postgraduate office, the faculty and ARI. Students will present research proposal in the second semester during their first year. Student progress is regularly monitored by the faculty supervisory committee and the coordinator of postgraduate (research). Each postgraduate student has a main and second supervisor. He or she may appoint one external supervisor outside UiTM.

Research Area:

  • Financial Criminology
  • Islamic Finance & Muamalat
  • Camouflaged Fraud Detection
  • Islamic Finance Development
  • Money Laundering – types, prevention & detection, rules & regulation
  • Financial Crisis and Islamic Finance
  • Auditor Specialisation & Fraudulent Financial Reporting
  • Maqasid al-Shariah in Financial Transactions
  • Fraud Detection and Prevention Models
  • Islamic Finance Instruments
  • Risk Management, Fraud risk indicators and red flags
  • Compliance on Corporate and Shariah Governance
  • Risk in Islamic Banks
  • Theory of Islamic Contract
  • Tax Fraud and Preventive Mechanisms
  • Shariah Compliance of Financial Products
  • Punishment in Financial Fraud
  • Shariah and Legal Issues
  • Combating corruption
  • Islamic Micro-financing
  • Existing level of legal requirement & policies on financial criminology in Malaysia, Australia, UK & US
  • Shariah Audit
  • White collar crime and the criminal justice system
  • Waqaf Management
  • Shariah’s normative framework as to financial crime and abuse
  • Corporate Zakat Management
  • Integrity & Ethics
  • Zakat Investment
  • Whistleblowers – regulation, policies & effectiveness
  • Sukuk and Securitization
  • Commercial crime and financial implications
  • Operational Risks, Shariah Compliance and Internal Control