Course will help people working in DIFC grasp basics on the subject

Dubai, May 20, 2014

Dubai International Financial Centre Authority (DIFC Authority) has partnered with Dar Al Sharia Limited-DIFC - Dubai Islamic Bank's (DIB) Sharia advisory arm - to offer free short course on Islamic finance.

The new DIFC move is in line with the noble initiative taken by HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE Ruler of Dubai last year to promote Dubai as the international hub for Islamic economy and finance which has created enormous interest in local and international financial circles.

Elaborating the move, Chirag Shah, Chief Strategy and Business Development Officer at DIFC Authority said "keeping in view Dubai's aim to attain the coveted status within the shortest possible time, the urge amongst the banking and finance professionals to learn the basics of Islamic finance is growing stronger. However, in this fast-paced world, it is difficult for them to find time to attend lengthy courses for the purpose".

He added "In view of the foregoing, DIFC Authority is delighted to join hands with Dar Al Sharia to offer the free short course on the subject for the people working within DIFC. This is a 3-hour foundation course covering the core principles of Islamic finance with emphasis on relevance of Islamic banking and finance principles in the modern day financial world".             

"Islamic finance is one of the fastest growing industries in the world. However, authentic education on the subject is not widely and easily available. We are delighted to work with Dar Al Sharia to make an effort to bridge this gap". Shah concluded.

First such course was offered at DIFC's Centre of Excellence on Monday 19 May to a full-capacity batch of 100 participants who had registered on first come first served basis. The course was well received and the participants were highly appreciative of the initiative. The course shall be repeated from time to time to benefit larger segment of DIFC community.

The course has been developed by the industry experts from Dar Al Sharia who have played important role in the progression of Islamic banking and finance industry within and outside UAE during the last 10 years.

Based on growing demand, DIFC Authority and Dar Al Sharia may consider launching advanced courses on various aspects of Islamic banking and finance starting from after the summer vacation.

-Ends-

For further inquiries on DIFC, please contact:
Dubai International Financial Centre
Shaima Al Zarouni
PR Manager
Email: shaima.alzarouni@difc.ae
Tel: +971 4 362 2432

About DIFC
The Dubai International Financial Centre (DIFC) is the financial and business hub connecting the region's emerging markets with the developed markets of Europe, Asia and the Americas.

Since its launch in 2004, DIFC, a purposely built financial free zone, has been committed to encouraging economic growth and development in the region through its strong financial and business infrastructure. Currently, DIFC's client base comprises almost 1,039 active registered firms, including 22 of the world's top 30 banks, six of the top ten insurers, seven of the top 10 law firms, 11 of the world's top 20 money managers and seven of the top ten consultant companies in the world. Around 15 thousand employees operate in an open environment complemented by international legal and regulatory standards. DIFC offers its member companies benefits such as 100 per cent foreign ownership, zero per cent tax rate, with no restriction on capital convertibility or profit repatriation. DIFC has its own independent financial and ancillary services regulatory body, the Dubai Financial Services Authority (DFSA). It also has the DIFC Courts, which is an independent common law judiciary based in DIFC with jurisdiction over civil and commercial disputes in or relating to the Centre.

DIFC is built upon a modern legal, regulatory and physical infrastructure, which makes it the destination of choice for Financial Services firms establishing a presence in the region.

For further information, please visit our website: www.difc.ae , or follow us on Twitter @DIFC.       

© Press Release 2014