SEGi launches centre to promote Islamic fintech

SEGi University has teamed up with MIMOS Bhd and RM Applications Sdn Bhd to launch the Islamic Centre for Emerging Technologies (ICET) on Feb 19.

Deputy Finance Minister Datuk Wira Amiruddin Hamzah launched ICET at the SEGi University campus in Kota Damansara, Petaling Jaya. The centre will pilot research initiatives on chatbots and artificial shariah intelligence.

In this tripartite public-private partnership, SEGi serves as the knowledge and content partner, MIMOS functions as the technical partner and RM Applications focuses on content, implementation and product commercialisation.

ICET is in line with Prime Minister Tun Dr Mahathir Mohamad’s push for greater adoption and utilisation of IR4.0-driven initiatives in the country.

ICET head Prof Dr Bala Shanmugam said: “With Malaysia having the third largest holding of Islamic assets and being a pioneer in the field of Islamic finance and halal transactions, it is only right for us to lead IR4.0-centred research and development in the arena of Islamic economics.

“The chatbots will be programmed to handle queries on Islamic transactions relating to shariah-compliant financing and investments online and through the phone.”

As SEGi takes on the role of knowledge and content partner in collaboration with RM Applications, it will also provide professional training courses on Islamic financing for both students and professionals through ICET.

MIMOS chief technology officer Thillai Raj said its Centre of AI for Future Industry (CAIFI) will work with SEGi’s ICET in fintech, specifically in Islamic finance and investment, to enhance the industry innovation ecosystem.

“CAIFI will develop a platform that integrates AI chatbots to analyse available Islamic scriptural and fatwa sources for the purpose of providing knowledge advisory on shariah compliance,” said Thillai.

Meanwhile, SEGi University vice-chancellor Professor Dr Patrick Kee said through the ICET initiative, SEGi not only reinforces its position as a leading institution towards IR4.0 but also strengthens the nation’s position as a global hub for Islamic financial technology. – Feb 19, 2020



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