Nov 02 2011 |
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CBK in push to educate new IF specialists
By Steve Mbogo Kenya's School of Monetary Studies, an institution owned by the Central Bank, has launched a diploma in Islamic finance.The government-backed scheme was initiated in order to enhance the Islamic finance skills available in Kenya as the Shari'ah compliant banking sector grows apace.
The diploma is the first indigenous effort to establish a system of formalized training for specialized Islamic finance professionals by a state-owned body. The efforts are part of Kenya's attempts to become the Islamic finance hub of east Africa. 'The Islamic financial services industry is one of the fastest growing industries worldwide. However, there has been slow or no response to the capacity building challenges experienced in the sector,' noted the SMS's brief during the launch of the course on Friday in the capital Nairobi.
'This diploma provides trainees with an in-depth introduction to Islamic finance and related areas. Trainees will be informed on the specialized tenets of Islamic financial services,' the brief added.
Creating the opportunity to set up as a self-employed Islamic finance practitioner will introduce the aspect of small scale entrepreneurship to the Islamic finance industry currently dominated by the commercial banks and investment banking and insurance companies.
© The Islamic Globe 2011
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