Universitas Muhammadiyah Yogyakarta (UMY) keeps on engaging many Universities all over the world to promote educational and academic research improvement. By this time, UMY engaged International Islamic University Malaysia (IIUM) and International Institute of Islamic Thought (IIIT) coincided with The 3rd International Conference on Islamic Economic and Financial Inclusion (ICIEFI). The agreement will be a milestone for each party to improve their educational and academical service, especially in economics study.

On 11 July 2018, UMY agreed to sign a MoU with IIUM and IIIT. Those Agreements were signed at The 3rd International Conference on Islamic Economic and Financial Inclusion (ICIEFI) that held by IPIEF UMY. The First agreement, between UMY and IIIT, was signed by Dr. Ir Gunawan Budiyanto M.P, as The Rector of UMY and Prof. Dato’ Wira Dr. Jamil Osman as IIIT Representative of East and South East Asia IIIT. This MoU concern on Friendship and Cooperation, Promotion of Mutual Understanding, Academic, Cultural, Science Thought and Personnel Exchange.

The Second agreement was MoA between Faculty of Economics and Business UMY and Centre of Islamic Economics Kulliyyah of Economics, and Management Science IIUM. To improve their educational and academical service, this agreement was signed by Assoc. Prof. Dr. Rizal Yaya, The Dean of the Faculty of Economics and Business UMY and Prof. Mohamed Asiam Haneef as The Director of Centre of Islamic Economics Kulliyyah of Economics, and Management Science IIUM. This Agreement has expected to bring a more global dimension to the curricula of both parties through the capacity exchange of both faculties as well as in strengthening their relationship in order to promote educational and academic research improvement.

By this cooperation, hopefully, can improve the quality of education and academic research for both sides.