Indian Centre for Islamic Finance (ICIF)

What Indian Centre for Islamic Finance (ICIF) does

Indian Centre for Islamic Finance (ICIF) is a nonprofit NGO founded in 2009 and headquartered at D-307A, 1st Floor Radiance Complex, Abul Fazl Enclave, Jamia Nagar, New Delhi. The organization functions as a research, education, and advocacy body focused on building awareness of Islamic economics and finance and on introducing interest-free banking within India's regulatory framework. ICIF does not provide loans or financial services; it operates as a convening and knowledge-dissemination platform serving students, researchers, policymakers, regulators, bankers, and the general public. Its mission is to present Islamic finance as a humane, ethics-based alternative particularly relevant to marginalized and unbanked segments. The organization is governed by a board of ~15 trustees, chaired by Dr. Javed Ahmed Khan, with Dr. Mohammad Nejathulla Siddiqi serving as Chief Patron.

ICIF's service portfolio encompasses a reference library stocked with publications from IRTI, IDB, Leicester, and Markazi Maktaba Islami; educational guidance and scholarship support for students pursuing Diploma or MBA programs in Islamic Banking and Finance; free distribution of research papers and booklets to ministers, MPs, and government officials; and the organization of meetings, seminars, workshops, and national and international conferences. Its publication arm produces the ICIF Newsletter (Vol. 1–4). The organization has cultivated a partner ecosystem of Indian and international educational institutions—including Aligarh Muslim University, Jamia Hamdard, INCEIF (Malaysia), Hamad Bin Khalifa University (Qatar), The Institute of Islamic Banking & Finance (Hyderabad), Al Jamia Al Islamiya Santhapuram, and the London School of Business and Finance—and advocacy counterparties such as TASIS (Taqwa Advisory and Shariah Investment Solutions) and Marifa Academy. Channels include media coverage, conferences, content distribution, a Twitter presence (@icif_in), photo and video gallery, and the newsletter.

ICIF has no commercial revenue model. It is funded by membership contributions, donations, and volunteer support, and many of its services—including reference library access, research materials, and educational guidance—are provided free of charge. The organization maintains a single-country operating footprint focused exclusively on India, with publicly stated plans to open offices in additional states. Major advocacy milestones include a December 2009 consultative meeting with financial experts in Mumbai on the Banking Regulations (Amendment) Bill-2009, an October 2010 International Seminar on Islamic Finance in Kochi, a 2014 submission to the Prime Minister on the Pradhan Mantri Jan Dhan Yojana, and a February 2018 National Seminar on 'Debt & Interest Crisis in Economic Development' at Calicut University.

Name

Indian Centre for Islamic Finance (ICIF)

Legal name

Indian Centre for Islamic Finance (ICIF)

Website

https://icif.org.in

Company type

Private

Founded year

2009

Operating status

Operating

Short description

Indian Centre for Islamic Finance (ICIF) is a New Delhi-based nonprofit NGO founded in 2009 that conducts research, education, and policy advocacy to promote Islamic finance and interest-free banking awareness in India, serving students, policymakers, regulators, and the general public.

Ownership category

akta.pro rank

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Distribution channels1 record

Marketing channels7 records

Core offering

ICIF is a nonprofit NGO founded in 2009 and headquartered in New Delhi that promotes awareness, education, research, and advocacy for Islamic economics and finance in India. It offers educational guidance, scholarships, a reference library, media services, research material distribution, seminars, conferences, and a regular newsletter aimed at students, researchers, policymakers, regulators, banking professionals, and the general public.

Product overview

Indian Centre for Islamic Finance (ICIF) is a nonprofit NGO that functions as an educational and advocacy organization rather than a product-based technology company. ICIF offers a portfolio of services centered on Islamic finance awareness, education, and research in India. The core offerings include Educational Guidance Services (for students pursuing Islamic Banking and Finance courses), a Reference Library (with books from IRTI, IDB, Leicester, Markazi Maktaba Islami publishers), Media Services (publishing articles and stories in newspapers), Scholarship Programs (for Diploma/MBA students), Networking and Facilitating (coordinating among stakeholders), Free Research Materials Distribution, Meetings and Conferences (organizing seminars and workshops), and ICIF Newsletter publications. These services collectively support ICIF's mission to promote Islamic banking and finance awareness and advocate for its introduction in India's banking system.

Differentiator

Problem solved

Functional benefit

Products and services

• Educational Guidance Services Provides Islamic economics and finance education to students, research scholars, and interested individuals through seminars, workshops, and personal guidance on the subject.
• Scholarship Programme Offers scholarships to students and research scholars pursuing studies in Islamic economics and finance to support academic advancement in the field.
• ICIF Newsletter Regular newsletter providing Islamic economics and finance updates, articles, and news to subscribers and members.
• Meetings and Conferences Organizes meetings, conferences, seminars, and gatherings to discuss Islamic finance topics and bring stakeholders together.
• Research Materials Distribution Distributes research materials, books, CDs, cassettes, and other media containing knowledge on Islamic economics and finance to the public and stakeholders.
• Networking and Facilitating Services Facilitates networking among professionals, scholars, activists, and institutions working in Islamic finance to enable collaboration and knowledge exchange.
• Reference Library Services Maintains a reference library containing books, research papers, and other resources on Islamic economics and finance for use by researchers and scholars.
• Media Services Provides media-related services to spread awareness of Islamic finance and economics through various communication channels.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

13 partnerships are on record, tiered core, notable and minor.

• Chair for Islamic Studies and Research, University of Calicut & IIEFRcoreStrategic or Co-development Partner · 14 February 2018Jointly organized two-day National Seminar on 'Debt & Interest Crisis in Economic Development' at EMS Seminar Complex, Calicut University Campus.
• Chair for Islamic Studies, Calicut University & IAFIE Kerala ChaptercoreStrategic or Co-development Partner · 29 February 2016Conducted Two Day National Seminar on Islamic Finance and Entrepreneurial Venture Possibilities in India (Feb 29 - March 1, 2016) to promote research and awareness.
• International Seminar on Islamic Finance in IndiacoreOthers · 4 October 2010ICIF co-organized international seminar on Islamic Finance in India: Products, Institutions & Regulations in Kochi, India (Oct 4-6, 2010) to bring together regulators, scholars and practitioners.
• Islamic Banking Kashmir (IBK)notableStrategic or Co-development Partner · 1 December 2009IBK organized Islamic Banking & Finance Summit in Kashmir with support from ICIF. Dr. Javed Khan from ICIF participated as speaker.
• Marifa AcademynotableStrategic or Co-development PartnerMarifa is an organization dedicated to disseminating knowledge on Islamic finance principles and practices using innovative learning techniques. ICIF partners with them for courses, master classes, study materials, examinations and forums.
• The Institute of Islamic Banking & Finance, HyderabadnotableStrategic or Co-development PartnerOffers Post Graduate Diploma in Islamic Banking & Finance as a Distance Learning Program designed by professional Islamic Bankers to provide comprehensive knowledge of the Islamic finance field.
• Aligarh Muslim University (AMU)coreStrategic or Co-development PartnerAMU offers MBA in Islamic Finance and Post Graduate Diploma in Islamic Banking and Finance. ICIF promotes these programs to students seeking Islamic finance education, providing scholarship support.
• INCEIF (International Centre for Education in Islamic Finance)notableStrategic or Co-development PartnerSet up by Bank Negara Malaysia (Central Bank of Malaysia) in 2005 to develop human capital for the global Islamic finance industry. ICIF promotes their programs as part of India's Islamic finance education ecosystem.
• London School of Business and FinanceminorStrategic or Co-development PartnerICIF promotes their Islamic finance programs as part of global education opportunities for Indian students.
• Hamad Bin Khalifa University, QatarminorStrategic or Co-development PartnerOffers Master of Science in Islamic Finance. ICIF provides information about this program to students seeking advanced Islamic finance education.
• Jamia HamdardnotableStrategic or Co-development PartnerRunning MBA Insurance course in collaboration with Aseem Institute of Insurance & Risk Management (AIIRM). ICIF promotes admission and shares information about this program.
• Al Jamia Al Islamiya SanthapuramcoreStrategic or Co-development PartnerOffers Post Graduate Diploma in Islamic Economics and Finance - an integrated course covering theoretical and applied aspects with one month internship in financial institutions. ICIF promotes this course.
• TASIS - Taqwa Advisory and Shariah Investment SolutionsnotableStrategic or Co-development PartnerIndia's premier Shariah advisory institution. TASIS works with ICIF on advocacy and awareness efforts for Islamic finance in India, providing authentic Shariah guidance.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Bahrain Institute of Banking and Finance (BIBF): Bahrain-based broader banking-and-finance education and training institute with a dedicated Islamic finance curriculum. Larger portfolio than ICIF but overlaps significantly in Islamic finance capacity-building.
• International Islamic University Malaysia (IIUM) - Institute of Islamic Banking and Finance: Malaysian university with dedicated Islamic banking and finance programs and research output, comparable to ICIF's academic-policy bridge function but operating at much larger scale and within a fully functional Islamic banking jurisdiction.

Direct peers

• Institute of Islamic Banking and Finance (IIBF), Hyderabad: Indian-headquartered Islamic finance education body offering a Post Graduate Diploma in Islamic Banking & Finance. ICIF partners with IIBF to deliver Islamic finance programs, making it the most directly comparable peer in scope and geography.
• IRTI - Islamic Research and Training Institute (IsDB Group): Jeddah-based Islamic development bank research arm producing authoritative Islamic finance research and training, on whose publications ICIF's reference library draws. Comparable in research, training and capacity-building mandate.
• INCEIF International Centre for Education in Islamic Finance: Set up by Bank Negara Malaysia in 2005 to develop human capital for the global Islamic finance industry. ICIF explicitly promotes INCEIF's programs as part of India's Islamic finance education ecosystem, indicating direct overlap in education-and-advocacy mandate.
• International Shariah Research Academy for Islamic Finance (ISRA): Malaysia-based international Shariah research body providing authoritative guidance for global Islamic finance industry. Comparable in producing Shariah and academic content to inform regulators and industry stakeholders.
• TASIS - Taqwa Advisory and Shariah Investment Solutions: Self-described as India's premier Shariah advisory institution. Works directly with ICIF on advocacy and awareness for Islamic finance in India, providing authentic Shariah guidance. Overlapping India-centric advocacy role.
• Al Jamia Al Islamiya Santhapuram: Kerala-based institution offering a Post Graduate Diploma in Islamic Economics and Finance with internship in financial institutions. ICIF promotes this diploma — a directly comparable Islamic finance education program targeting Indian students.
• Marifa Academy: An organization dedicated to disseminating knowledge on Islamic finance principles using innovative learning techniques. Listed as a strategic ICIF partner for courses, master classes, study materials, examinations and forums.

Regional players

• Aligarh Muslim University (AMU) - Department of Islamic Studies / Commerce: Indian university offering an MBA in Islamic Finance and Post Graduate Diploma in Islamic Banking and Finance. ICIF promotes these programs to students, making AMU a regional peer addressing similar Indian demand via university-based delivery.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/icif_in

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Indian Centre for Islamic Finance (ICIF)