INCEIF collaborates with key stakeholders as it pushes for sustainable financing
KUCHING: The International Centre for Education in Islamic Finance (INCEIF) constantly engages with its stakeholders to push the agenda of promoting sustainable development and exploring opportunities to continuously contribute to United Nation’s Sustainable Development Goals (SDGs).
To realise these objectives, INCEIF is actively involved in research and development projects to boost the sustainable agenda of Malaysia’s finance industry. INCEIF has played a role in a number of initiatives.
This includes the involvement in drafting the Value-based Intermediation Financing and Investment Impact Assessment Framework ( VBIAF) together with Bank Negara Malaysia, The World Bank and World Wildlife Fund Malaysia.
It will also conduct a comprehensive feasibility study on innovative financing, investment platforms and business models for renewable energy and energy efficiency in Malaysia, through a research grant awarded by the then Ministry of Energy, Green Technology and Water (currently known as Ministry of Energy, Science, Technology, Environment and Climate Change or MESTECC)).
it will aosb e conducting research on the transformation of technology-based small-medium enterprises towards becoming sustainable technopreneurs through a research consultancy project for the Malaysian Technology Development Corporation (MTDC).
INCEIF has also worked with a strong key player in the financial services industry, CIMB Islamic Bank Bhd ( CIMB Islamic), to develop a sustainability strategy, financing and valuation framework for the bank.
The sustainable financing framework complements the aspiration of Bank Negara Malaysia’s Value-based Intermediation (VBI) for the Islamic banking industry, and CIMB’s on-going initiative to embed sustainability into all aspects of the group’s business and operations, within Malaysia and regionally.
The project entailed comprehensive benchmarking based on global best practices, qualitative and quantitative analysis of global environmental, social and governance (ESG) databases and indexes, in-depth industry and academic literature review, as well as extensive engagement with key stakeholders in the social and environmental sustainability space. Turn to Page B4, Col 4