The Treasury Department of Islamic Science of University Malaysia (USIM), formerly known as the Treasury Department of Malaysia Islamic University College (KUIM), was formed in line with the establishment of KUIM at the end of 1999.

The Senior Deputy Treasurer of the National University of Malaysia (UKM), Madam Hajah Rohani Abu, was appointed as the first Treasurer of KUIM and reported for duty on 3 January 2000. At that time, the Treasury Department of KUIM was operating from the Faculty of Islamic Studies UKM with two staff members consisting of the Treasurer and an Assistant Accountant. KUIM agreed to appoint Bank Islam Malaysia Berhad as its official bank, and KUIM’s first account was opened in May 2000.

After operating at the Faculty of Islamic Studies UKM for two months, the Treasury Department of KUIM moved to Institut Profesional Baitulmal (IPB) in June 2000. At IPB, the Department of Treasury of KUIM appointed 11 more staff members for various posts and was divided into two Divisions.

The Department was based at IPB for one and a half years and then moved to USIM’s second campus at the 14th Floor, A Tower, Persiaran MPAJ, Pandan Indah at the end of 2001. The Department operated at MPAJ for almost 3 years. Its operation was strengthened with the addition of 11 more staff members, making up a total of 22 staff members in five Divisions.

In July 2005, the Treasury Department moved to KUIM’s permanent campus in Nilai, Negeri Sembilan and was located temporarily at the Information Technology Centre Building (PTM). Here, the Department appointed 10 new staff members in line with its structuring into seven divisions to enhance the quality of service.

Since April 2007 to date, the Treasury Department has moved once, which is to Levels 1–4, Right Wing, Chancellery Building.

In 2013, the Treasury Department headed by the Acting Treasurer was strengthened with the service of 42 permanent/contract staff and five temporary staff. There are 11 Divisions headed by Senior Assistant Treasurers / Assistant Treasurers and an Assistant Registrar at the Administration Division.