UMS Labuan faculty wins 31 awards at Pereka 2026

LABUAN: Universiti Malaysia Sabah's (UMS) Labuan Faculty of International Finance (FKAL) secured 31 awards at the Pereka 2026 Grand Finale, highlighting its growing research and innovation capabilities in financial technology, digital transformation, Islamic finance and community development.

The faculty clinched five gold, 19 silver and seven bronze awards at the competition held in conjunction with the Borneo Festival of IDEAs 2026 at UMS here on Oct 13-14.

FKAL dean Assoc Prof Dr Geoffrey Harvey Tanakinjal said the achievement, involving 106 researchers and team members across three contingents, demonstrated the faculty's commitment to translating academic research into practical solutions benefiting industries, financial institutions, entrepreneurs and local communities.

"We are especially proud that many of these innovations have the potential to support Labuan's development as an international financial and educational hub," he told Bernama today.

Among the five gold-winning innovations were IHARAM GOLDVR, a smart Umrah and Haj ecosystem developed by Dr Haneffa Muchlis Gazali; and MASJIDFIN 1.0, a mosque financial governance assessment system by Dr Rio Erismen Armen.

Other gold recipients were Dr Noor Hassanah Husin for research on digital transformation among asnaf entrepreneurs; Dr Ooi Ai Yee for corporate governance research; and Dr Aminah Shari for an experiential stock trading education programme.

The 19 silver awards recognised innovations in sustainable finance, artificial intelligence, financial literacy, entrepreneurship and community empowerment.

Among them were ECOPAY-SABAH, a green financial technology initiative by Dr Mohd Ashari Bakri; and MAQ-ESG Score, an AI-based framework for Islamic small and medium enterprise financing by Dr Ahmad Aizuddin Hamzah.

The seven bronze awards recognised innovations in crowdfunding, household financial management, Islamic financial literacy and interactive learning.

Geoffrey said the strong showing also highlighted the importance of interdisciplinary collaboration, with academic staff, administrative personnel, students, alumni and external researchers contributing to the faculty's success.

He said FKAL would continue strengthening university-industry-government collaboration, promote research commercialisation and develope innovations that support Labuan's financial services ecosystem and socioeconomic growth.

The Borneo Festival of IDEAS 2026, held under the auspices of the Higher Education Ministry, brought together researchers, industry players and government agencies to promote innovation, knowledge sharing and research commercialisation.