Four Board members who attended namely Dr Bubaker Almansori, Former Minister of Agriculture & Fisheries of Libya and just recently Libyan Ambassador to Malaysia, Prof Dr Necdet Sensoy, Board Member, Central Bank of the Republic of Turkey, Assoc Prof Dr Ashirali Abdilrashidov, Tashkein Islamic University, Ubekistan  and ICIFE Founding President, Prof Dr Khaliq Ahmad who is also Dean, Institute of Islamic Banking and Finance, IIUM. Also in attendance was ICIFE Director and Head of Secretariat, Dr Haji Zulkifly Baharom.

Chairman Tan Sri Rais briefed the Board about the initiative currently undertaken by ICIFE, its envisioned reach is global, as experts in Islamic finance and other related fields from all over the world have always been and are continuously consulted. He recognized having prominent Board members like them would give ICIFE the much needed push for growth of Islamic finance education through contribution in the areas of curriculum and talent development.

The Board has also endorsed ICIFE Secretariat to provide the platform for the Headquarters of International Federation of Islamic Economics and Finance Educators (I-FIEFE) in Kuala Lumpur in conjunction with the 11th International Conference of Islamic Economics and Finance (ICIEF) on 11-13 October 2016.  YB Datuk Johari Abdul Ghani, Finance Minister 11 has been invited to grace the official opening of 11th ICIEF and launch I-FIEFE Headquarters in KL.

Currently ICIFE has about 300 members of which 40% are international members with 12 Institutional Members and 12 Chapters in Malaysia and abroad. Its activities being organized in Malaysia and overseas. Its members have participated in various international conferences and seminars and will soon conduct training programs in the Philippines, Pakistan and Libya.

Tan Sri Dr Rais said, “The world is changing so fast so ICIFE always need to reinvent itself, otherwise, the world will soon passes us by. It’s not to say our past is not important but it’s more about how to move on, how to move forward, and how we make ourselves relevant again in today’s and tomorrow’s world. Malaysia has an amazing legacy, an amazing history, an incredible pride in Islamic finance. But we cannot dwell too much on the past. So, we need to renew our image. We need to refresh, reset the perception of what ICIFE is known for. And, we need to have the right Board members & Executive Committee and supporting members.”

In conclusion, Tan Sri Rais  endorsed ICIFE participation at the Joint Induction & Launching of Mindanao Halal Holding Corporation (MHHC) and the Southeast Asian Islamic Chamber of Commerce and Industry (SAICCI) initiated by Philippines Association of Islamic Accountants (PAIA) which is also ICIFE Philippines Chapter 17th July 2016 at Mallberry Cagayan de Oro City. He announced ICIFE involvement at the 2ndInternational Islamic Finance Conference 18-19 July in Manila; the 12th World Islamic Economics Forum 02-05 August in Jakarta & the Islamic Marketing Seminar conducted by Prof Khalid for Pakistan Bankers 17-19 August in Karachi.