The International Shari’ah Research Academy for Islamic Finance, more commonly known by its acronym, ISRA, has been established to promote applied research in the area of Shari'ah and Islamic finance.

It also acts as a repository of knowledge for Shari’ah views (fatwas) and undertake studies on contemporary issues in the Islamic financial industry. Moreover, ISRA contributes to strengthening human capital development in Shari’ah expertise relevant to Islamic finance and provides a platform for greater engagement amongst practitioners, scholars, regulators and academicians via research and dialogue, in both the domestic and international arenas. Through pioneering research and rigorous intellectual dialogue, ISRA aims to promote innovation and dynamism and thus extend the boundaries of Islamic finance. It is envisioned that with greater research and dialogue, mutual respect and recognition will emerge within the global community of the Islamic financial industry.

As a part of the International Centre for Education in Islamic Finance (INCEIF), ISRA is able to leverage on its infrastructure and facilities as well as to tap on the knowledge, expertise and resources of its academic faculty and postgraduate students. To provide input and assistance in the strategic direction of ISRA’s research, the Council of Scholars, a group comprised of eminent local and international Shari’ah scholars, has been set up.