| 06 Aug 2009 |
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The SII and Institute of Islamic Banking and Insurance (IIBI) sign agreement to promote UK as hub of Islamic finance
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The Securities & Investment Institute (SII) has signed an agreement with the Institute of Islamic Banking and Insurance (IIBI) to promote the UK as the hub of Islamic finance.
The London-based IIBI is one of the world's leading independent organisations dedicated to the development and implementation of Islamic finance, achieved through education, training, research and publications.
The SII and IIBI will share their expertise and advocate the services of each other. As part of the deal, the IIBI will encourage its members to study for the SII's ground-breaking Islamic Finance Qualification (IFQ) as an entry level exam in the field. The SII will promote the IIBI's Diploma and post graduate Diploma in Islamic finance as qualifications for further progression for students following achievement of the IFQ. IIBI and the SII may choose to also develop a long-term strategy to include market research and demand relating to specialist Islamic Finance modules such as Sukuk (Islamic bonds).
The SII managing director, Ruth Martin, said: "We are delighted to work with the IIBI to promote our common goals for the development of Islamic finance skills within the UK."
Mohammad A. Qayyum, director general, IIBI, said: "We are looking forward very much to working closely with SII in strengthening the UK's position as the leading centre for Islamic finance qualifications. The agreement with SII will undoubtedly afford greater scope of advancement of competent persons in the Islamic financial services industry."
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Securities & Investment Institute
Our mission is to help members attain, maintain and develop their knowledge and skills and to promote the highest standards of ethics and integrity in the securities and investment industry.
Formed in 1992 from the Stock Exchange, the SII is now the leading examining, training and membership body for the securities and investment industry in the UK, with over 40,000 members who benefit from our programme of professional and social events. As the main examining body for the industry, the Institute provides a range of relevant vocational qualifications attracting over 45,000 candidates a year. We have developed Centres of Excellence within several Universities to offer our qualifications, and have made our Introduction to Securities and Investments available to schools and colleges around the UK In addition, the Institute produces publications and workbooks and runs a series of widely respected and well attended conferences and seminars in the UK and overseas.
Based in the City of London, we are a global organisation with representative offices in financial centres such as Dublin, Singapore, Dubai, Mumbai and Shanghai. We work in close cooperation with regulators, firms and other professional bodies worldwide. The Institute is currently a member of the FSA workstream on professionalism as part of the Retail Distribution Review and has received the Royal Charter for approval by The Queen in Council to become a Chartered body and for our members to become personally Chartered.
For further information on the Securities & Investment Institute contact Lora Benson, Head of Media Tel: +44 020 7645 0662/+44 07801 521034 or lora.benson@sii.org.uk. IIBI media queries contact Mohammad Shafique, Programme Development Coordinator, Tel 020 7245 0404 or m.shafique@islamic-banking.com>.
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