SINTOK, 6 May 2025: The Islamic Business School (IBS) of Universiti Utara Malaysia (UUM) and the Federation of Islamic Cooperative Thailand (FICT) have sealed a Memorandum of Understanding (MoU) at the UUM EDC this morning.
Prof. Dato’ Dr Mohd Foad Sakdan, the Vice-Chancellor of UUM, and Mr. Akim Abdullah, the Chairman of FICT, signed the memorandum. 
Dr Mohd Foad highlighted that the collaboration expands opportunities for the exchange of knowledge, experience and expertise – initiatives aligned with UUM’s aspiration to remain a world-class management university.
He noted that UUM and FICT are already familiar with one another. In fact, the relationship began over a decade ago through various forms of knowledge and skill exchange, including UUM personnel providing training and technical support to Islamic cooperatives in Thailand.
He said the MoU formalises and strengthens the existing relationship, marking a strategic step to intensify collaboration, expand opportunities and strengthen trust between the two institutions. 
“This MoU serves as a groundbreaking initiative for strategic collaboration between UUM and the industry, facilitating a mutually beneficial relationship where students obtain information and practical experience pertinent to their respective fields, while the industry has the opportunity to establish connections with UUM.
“I am confident that there are numerous new avenues for collaboration, particularly in the fields of Islamic finance, cooperatives, halal and entrepreneurship,” he said in a speech text read by the Deputy Vice-Chancellor (Research and Innovation), Prof. Dr Russayani Ismail at the UUM EDC, this morning.
Dr Russayani, representing UUM, exchanged the MoU document with the Chairman of FICT, Mr. Akim, in the presence of the Dean of IBS, Assoc. Prof. Dr Selamah Maamor, and FICT Advisor, Mr. Abdul Rasheed.
Meanwhile, the Chairman of FICT, Mr Akim, described the signing of this MoU as a privilege for FICT to forge a partnership with UUM. 
According to him, this MoU serves as a starting point for enhancing the educational, research, and human capital development framework between the two institutions in Malaysia and Thailand.
He expressed confidence that it would create more opportunities in the fields of knowledge, Islamic research, and training, particularly in Thailand.
“FICT acknowledges UUM’s commitment, especially IBS, in fostering positive relations between the two institutions.
“I anticipate that this MoU will serve as a catalyst for enhanced and sustained bilateral relations and that this effort will be blessed and facilitated,” he said. 
The ceremony concluded with a forum titled “Development of Financial Systems & Governance”, featuring three panellists, namely the Chairman of Ibnu Affan Cooperative, Thailand, Mr. Abdulrashid Chema; Dean of IBS, Assoc. Prof. Dr Selamah Maamor; and Senior Lecturer at IBS, Dr Muhammad Fikri Aziz. The session was moderated by Dr Amirul Faiz Osman.
