June 24, 2016 (Cambridge, UK)

Cambridge IF Analytica, a UK-based financial intelligence house, welcomes the Islamic Corporation for the Development of the Private Sector (ICD), a member of Islamic Development Bank Group, as its Multilateral Strategic Partner for its Cambridge Islamic Finance Leadership Programme (Cambridge IFLP). The leadership programme will be held at Clare College, a member of the University of Cambridge syndicate, on August 20-25, 2016.

According to the Global Islamic Finance Report 2016, although the global Islamic finance industry continues its growth as an increasingly viable alternative banking system, the growth rate has been declining since 2013. In 2015, the industry registered another single digit annual growth rate of 7.3%, a decline from 9.3% from the previous year. Annual growth rate in 2013 was 12.3%.

"The Islamic financial services industry faces greater challenges to growth such as slower global economic growth, low oil prices, plunging commodity prices and digital disruptions. For the industry to move to the next level of development, innovative solutions and collaborative strategies are vital," said Professor Humayon Dar, Chairman of Cambridge IF Analytica.

"Grooming the next generation of leaders with relevant skill sets to meet these changes in the business environment is vital for the future of Islamic banking and finance. For this reason, Cambridge IFLP aims to fast-track and groom the next generation of C-suite executives and leaders," added Professor Dar

The first Islamic Finance Leadership Programme was held at Markfield Institute of Higher Education in August 2013, which attracted participants from around the world. Some of those participants have moved to tremendously important leadership positions since then.

Dr Sofiza Azmi, CEO of Cambridge IF Analytica commented, "The leadership programme aims to prepare the next generation of leaders by providing them with a unique mentoring opportunities, rigorous leadership training from renowned leaders as well as industry-specific case studies in Islamic finance."

"We are delighted to have ICD as our Multilateral Strategic Partner. This partnership will create synergies to further enhance leadership skills amongst Islamic finance professionals," added Dr Sofiza Azmi.

"ICD, while embracing its developmental mandate, has been taking proactive roles in developing human capital capabilities and leadership for the industry. In 2011, ICD launched its Islamic Finance Talent Development Program (IFTDP) as a means of addressing this shortfall. And today, ICD is proud to be the Multilateral Strategic Partner to CIFLP which is in line with ICD's aspiration on this agenda and see the collaboration between IFTDP and CIFLP will deliver a solid solution towards human capital issues in Islamic Finance industry." Commented the CEO of ICD, Mr Khaled Al-Aboodi.

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About Cambridge IF Analytica:
Cambridge IF Analytica is a financial services intelligence house that specialises in developing and utilising powerful cutting edge analytical tools to evaluate business data, assess macroeconomic indicators and understand market trends, leadership positioning and brand development relevant to the development of the financial services industry globally. 

The principal activity of Cambridge IF Analytica is developing performance indicators specific to alternative practices of banking and finance. It also aims to provide strategic advice to governments, financial institutions and multilateral organisations in the development of financial markets including alternative banking and finance products, procedures, practices and policies. 

Through our strong and invaluable relations with policy makers and private sector industries, we have insights into market and business trends as well as policy changes. This allows us to identify and prioritize common issues and provide perspectives and solutions that are practical, focused and effective; which will increase the competitive advantage of our clients. 

Cambridge IF Analytica is a member of HD-Edbiz Group of Companies with offices in London, British Virgin Island, Istanbul and Islamabad.  

Contact Person: Umar Rauf; Email: urauf@cambridge-ifa.com

About the Islamic Corporation for the Development of the Private Sector (ICD)
ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Sharia'a. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody's. For more information, visit www.icd-ps.org

For further information please contact:
Mr Abdullah Hidayat Bin Mohamad/ Nabil Al-Alami
IFTDP Associate / Head, Marketing
E-mail: ABinMohamad@isdb.org / nalami@isdb.org
Website: www.icd-ps.org

© Press Release 2016