Murat Kylyshbay

Murat Kylyshbay

Masters in Islamic Finance Practice

Murat Kylyshbay is currently pursuing Masters in Islamic Finance Practice

Why Islamic Finance

Kazakhstan, which is Central Asia’s largest economy, is leading the region’s expansion of this ethical finance system. The market penetration of Islamic finance in Central Asia is still low but from what I can see Kazakhstan is ramping up its services and activities in this industry to be the region’s leading hub.

I had my first Master degree in International Politics in Edinburgh University at the age of 21. Since then I had short experience in conventional banking, spent 2 years as a BBC journalist in London, worked with South Korean investors in construction development before returning to Kazakhstan. I began my career in the insurance business, as the Head of HR Department and left the company as the BOD Chairman. And now at 40 years old, I am ready to start a new chapter in my life.

Why Malaysia and INCEIF

I have researched on postgraduate studies in Islamic finance, and found out about INCEIF. It is the only university in the world that is dedicated to Islamic finance with senior lecturers, especially at the Masters and PhD levels. There’s nothing quite like it anywhere else because I believe it is the only university set up by a central bank, in a country that is known as being advanced in Islamic finance. INCEIF has gathered under one roof, a strong faculty comprising outstanding academicians and former practitioners. The course structures are delivered via various methods e.g. case study, group projects, knowledge sharing by industry players, inter-programme debates. At the postgraduate level, we need exposure to more than just what you could learn from text books. Real case issues are discussed in class, giving me valuable lessons in operational, practical matters.  

The frequent industry talks provide an avenue for students to have a better understanding of the opportunities and challenges in Islamic finance, the latest industry trends and regulatory expectation. The KMC (Knowledge Management Centre) has a good physical and online collections of resources on Islamic finance. The diversity of students provide a good mix of cultures and background. Based on what I learnt from our alumni, there is a good networking amongst Inceifians providing an avenue for us to exchange ideas and concerns particularly for those who are working in the financial industry.         

The Future

I hope Islamic finance will continue to grow with greater emphasis on new product development and innovations, gaining more acceptance from global participants and non-Muslims as an alternative to conventional finance. Because I see IF as the best option to promote financial inclusion and sustainability. Islamic finance already shares common goals with UN's 17 Sustainable Development Goals.

The knowledge gained at INCEIF helped me to grasp the Islamic finance concept, tackling all the doubts in my heart. It gives me the confidence to start my own life-long project in the Islamic finance industry by delivering better products to our community.