Director ARI HICoE: Research on Credit Card Liability?.

Sunday, June 28, 2009

Research on Credit Card Liability?.

Today I saw some write ups in the weekend newspapers about credit card dependence amongst Malaysian professionals. The two age groups mostly affected by the credit card liability are those within the 35-44 & 45 - 54 years of age. It was also mentioned that these credit card users are just paying the minimum monthly payment, hence their liability accumulates. This dependence on credit cards is indeed a worrying phenomenon. ARI is interested to conduct a study on financial literacy among young professionals. We also hope to examine their saving and expenditure habits. Any takers?...

Welcome

The creation of this blog is an effort to provide latest update and information about ARI. As a director to ARI, I want to share my personal vision and perhaps invite those who visit this blog to give ideas and constructive comments on how to continuously improve ARI from time to time. ARI is a centre of excellence under the Ministry of Higher Education, Malaysia. Personally, I believe that it can go very far. Plans are underway for ARI to participate at international platforms.

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.

ARI's research in Islamic Financial Criminology is divided into three phases. In Phase One, IFC research projects will focus on both local and regional issues. As such, ARI will forge a lot smart research collaborations with other research centres, professional bodies, government agencies, regulatory & enforcement agencies, universities and the private sectors. The Phase One projects aim to identify specific IFC issues that necessitate the development of new poducts, models, framework or policies. ARI will collaborate with agencies such as JAKIM, IKIM, IBFIM, INCEIF, ISRA, PDRM, RMC, FIU, BNM, MACC, IIM, UIA, USIM, USM etc. In term of deliverables, at least fifty publications will be produced by Phase One initiatives.

Premised on specific issues identified in Phase One projects, Phase Two focuses on working on specific IFC products, models, framework and/or policies related to IFC. ARI invites international partners who are experts in their own fields to participate in Phase Two research projects. Several international players from Australia, USA, UK, New Zealand, Japan, Taiwan, Korea and Singapore have indicated their interest to participate.

In Phase Three, IFC products, models, policies are further enhanced. The main aim of Phase Three is to isolate elements of technology transfer and the development of systems into IFC products, models, framework or policies. Upon completion of Phase Three, IFC products will be launched and ARI hopes to become a leading research centre globally focusing on its niche "Islamic Financial Criminology".

Director ARI HICoE

Sunday, June 28, 2009

Research on Credit Card Liability?.

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