International Center for Research in Islamic Economics

What International Center for Research in Islamic Economics does

International Center for Research in Islamic Economics (ICRIE) is a Pakistan-based non-profit research and training organization focused on Islamic economics and finance. Founded in 1980 and operating from Karachi with an academic affiliation to Minhaj University Lahore, ICRIE serves Islamic banking and finance professionals, academics and researchers, and Islamic financial institutions seeking Shariah-compliant advisory support. The institute positions itself as a knowledge hub for harmonizing Islamic economic principles with contemporary finance, offering consultancy, training, certification, and academic publishing.

ICRIE's service portfolio includes consultancy and advisory services, training and capacity-building programs, structured courses (such as the Certified Specialist in AAOIFI Shariah Standards and other Arabic/religious courses), and AAOIFI certificate registration processing. It maintains the International Journal of Islamic Economics & Governance (IJIEG), an HEC-Y Category peer-reviewed journal, and publishes books, articles, and reports covering Islamic microfinance, Takaful, Sukuk, and emerging topics including AI and Blockchain in Islamic finance. Flagship events include the annual World Islamic Economics and Finance Conference (WIEFC), professional workshops, symposiums, and guest lectures. The technology footprint is modest: an online platform for course and event registration plus a Zakat calculator tool based on current Nisab thresholds.

Revenue is generated through professional services, including workshop registration fees, course fees, consultancy engagements, and AAOIFI certificate registration. The institute operates with a team of approximately 13 members, has no publicly disclosed financials, and does not appear to raise external funding. Go-to-market is event-driven and community-led, leveraging conferences, workshops, publications, the journal, and online course registrations. Pricing details are not disclosed publicly.

Name

International Center for Research in Islamic Economics

Legal name

International Center for Research in Islamic Economics

Website

https://icrie.org.pk

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

ICRIE is a Pakistan-based non-profit research and training institute serving Islamic finance professionals, academics, and institutions through consultancy, AAOIFI certification, academic publishing, and the annual WIEFC conference.

Ownership category

akta.pro rank

Product category

Islamic Finance Education & Research

NAICS

Business and Secretarial Schools (61141)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Finance, Accounting & Risk (CFA/CPA/FRM) Certifications (EDAAANAD)

akta.pro secondary industry

Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

Keywords

• Islamic finance research
• Islamic economics training
• AAOIFI certification programs
• Shariah compliance advisory
• Islamic banking education

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Professional Workshops: Revenue from conducting professional workshops on Islamic banking products and practices, including registration fees for participants.
2. Training and Capacity Building Programs: Income from capacity building programs and training services for individuals and organizations in Islamic economics and finance.
3. Course Fees: Revenue from various courses including Certified Specialist in AAOIFI Shariah Standards, Sirat-Ul-Rasool, Fiqh Learning, Aqaa'id Learning, Na'at Training, and Arabic Language courses.
4. Consultancy and Advisory Services: Fees from providing expert consultancy and advisory services in Islamic banking and finance.
5. AAOIFI Certificate Registration: Revenue from AAOIFI certificate registration processing and certification services.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

ICRIE is a Pakistan-based research institute that delivers professional training programs, certificate courses (including AAOIFI Shariah Standards), consultancy and advisory services, academic publications, and annual conferences in Islamic economics and finance. It also operates the peer-reviewed International Journal of Islamic Economics & Governance (IJIEG).

Product overview

ICRIE operates as a research and training center offering a portfolio of educational services, professional certifications, publications, and events in Islamic economics and finance. The core offerings include consultancy services, capacity building training, and certificate courses (AAOIFI certification, Islamic banking courses). Additional services include a Zakat Calculator tool, academic publications (books, articles, reports), and an academic journal (IJIEG). Events include the annual World Islamic Economics and Finance Conference (WIEFC) and professional workshops. The center positions itself as a hub for research, training, and professional development in Islamic finance.

Differentiator

Problem solved

Functional benefit

Products and services

• Consultancy & Advisory Services Expert guidance services to help clients make informed decisions and drive strategic growth in Islamic finance and economics, targeting banks, takaful companies, and Islamic financial institutions.
• Training and Capacity Building Structured programs empowering individuals and teams with practical skills to excel in their roles within Islamic economics and finance sectors.
• Courses Industry-relevant courses including Sirat-Ul-Rasool, Fiqh Learning, Aqaa'id Learning, Na'at Training, Arabic Language, and CSASS101 - Certified Specialist in AAOIFI Shariah Standards, designed to boost knowledge and career prospects.
• AAOIFI Certificate Registration Registration and processing services for AAOIFI certifications, enabling professionals to obtain recognized credentials in Islamic finance.
• International Journal of Islamic Economics & Governance (IJIEG) HEC-Y Category peer-reviewed academic journal publishing research in Islamic economics and governance.
• World Islamic Economics and Finance Conference (WIEFC) Annual international conference bringing together scholars, policymakers, and practitioners to discuss Islamic economics and finance topics.
• Professional Workshop on Islamic Banking Products and Practices Hands-on workshop teaching transaction flows and Islamic banking product practices in Pakistan for banking professionals.
• Books Publications Research books covering topics including Zakat & Microfinance, Islamic Banking, Blockchain & Fintech in Islamic Finance, AI and Islamic Finance, and Islamic Microfinance.
• Articles Publications Academic articles covering topics such as environmental behavior in Islamic economics, Takaful research trends, Sukuk analysis, and Islamic microfinance.
• Reports Publications Research reports on topics including socioeconomic influences on environmental behavior, Takaful research, madrassas study, and Islamic/conventional bank comparisons.
• Zakat Calculator Online calculator tool that helps Muslims calculate their Zakat obligations based on silver or gold Nisab values with current thresholds displayed.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Others

• AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions): Global standard-setting body for Islamic finance whose certifications ICRIE registers students for. Not a competitor but a closely linked ecosystem participant; ICRIE's offering is partly dependent on AAOIFI's standards and credentialing framework.
• Minhaj University Lahore: Pakistani university with which ICRIE is institutionally affiliated and on whose campus much of ICRIE's training and events are hosted. Not a competitor but a strategic enabler and host institution.
• CIBAFI (General Council for Islamic Banks and Financial Institutions): Industry association promoting Islamic financial services industry development through training, research, and policy advocacy—an adjacent ecosystem participant overlapping with ICRIE's training and capacity building mission.

Direct peers

• International Shariah Research Academy for Islamic Finance (ISRA): Malaysia-based research and training institute specializing in Shariah research, advisory, and education in Islamic finance. Closely comparable to ICRIE in combining Shariah research output with professional training and certification programs.
• Edinburgh Business School (Heriot-Watt University): Offers globally delivered MSc and professional programs in Islamic finance and banking through distance learning. Comparable to ICRIE as a competing provider of internationally accessible Islamic finance education and credentials.
• INCEIF University: Malaysian university dedicated to Islamic finance education, research, and professional training offering certificates, postgraduate programs, and executive courses—directly comparable in mission and product mix to ICRIE's training and certification focus.
• International Islamic University Malaysia (IIUM) - Institute of Islamic Banking and Finance: Malaysian academic institute offering undergraduate, postgraduate, and executive Islamic finance programs with associated research output—comparable to ICRIE in combining research and professional Islamic finance education.
• King Abdulaziz University - Islamic Economics Institute: Saudi academic body conducting Islamic economics research and offering training programs to professionals in Islamic finance. Directly comparable as a research-led institute in Islamic economics with training and publication output.
• Bahrain Institute of Banking and Finance (BIBF): Regional professional training institute offering certification programs and capacity building across banking and finance, including dedicated Islamic finance tracks. Comparable to ICRIE's professional workshop and training business.

Emerging players

• Frankfurt School of Finance & Management: German finance school offering professional certifications and executive programs in banking and finance with Islamic finance components. Comparable as a competing professional certification and executive training provider in Islamic finance.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ICRIE_Official
• Facebookfacebook.com/ICRIEofficial
• LinkedInlinkedin.com/company/icrie

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about International Center for Research in Islamic Economics