Dubai -3 June 2008: HSBC Amanah, the global Islamic financial services arm of the HSBC group, today took a groundbreaking step to bridge the gap in Islamic finance training by entering into a global partnership with the Chartered Institute of Management Accountants (CIMA).  HSBC Amanah will be closely involved in CIMA's Certificate in Islamic Finance building up on its proven industry track record.   

Nabeel Shoaib, Global Head of HSBC Amanah said: "Raising the standards of the Islamic finance industry entails more investment in education and advanced research & development. At HSBC Amanah we attach paramount importance to these aspects and our partnership with a leading institute like CIMA is a clear example of our commitment to address the challenge of human assets, which remains a pressing issue for the Islamic finance industry globally. We will continue to set the pace for the industry through innovation and best practice.'

Charles Tilley, CIMA's Chief Executive, commented: "We are very pleased to enter into this partnership with HSBC Amanah.  This collaboration shows how important Islamic Finance is to the international banking community and finance professionals throughout the world.  It demonstrates how organisations are increasingly aware that this important area of international finance requires specialist knowledge.  We look forward to this collaboration with one of the world's leading international banks and to working with HSBC Amanah in the training and development of their growing talent pool."

This is an exclusive partnership programme aligning two global brands committed to the promotion and development of the Islamic finance sector worldwide through high quality, relevant and practical products and via focus on education and professional qualification.

The CIMA Certificate in Islamic Finance is the first global qualification to be offered by a professional chartered accountancy body to focus on the fast growing sector of Islamic finance. It is available to staff currently working within the Islamic financial services industry and those entering this sector.

The certificate will be valuable for newcomers to Islamic finance as well as financial professionals seeking accreditation and qualification in this field. It is designed to give professionals two significant market advantages - the professional recognition of a CIMA international qualification and demonstrable expertise in the complex, fast growing world of Islamic finance. 

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CIMA (the Chartered Institute of Management Accountants) is the only international accountancy body with a sole focus on business.  It is a world leading professional institute that offers an internationally recognised qualification in management accountancy, focusing on accounting in business, in both the private and public sectors. It is the voice of over 164,000 students and members in 161 countries.  CIMA is responsible for the education and training of management accountants who work in industry, commerce and not-for-profit and has more members in the public sector than any other UK based body. CIMA prides itself on the commercial relevance of its syllabus, which is in tune with the activities of high performance organisations, and evolves continually to reflect the latest developments in global business. CIMA has been nominated as a UK superbrand for a second year in a row this year and for the first time in Sri Lanka.  According to independent research conducted by the University of Bath School of Management, CIMA's syllabus and examination structure are the most relevant to the needs of business of all the accountancy bodies assessed.  See the CIMA Difference report for further information at www.cimaglobal.com/thecimadifference.  CIMA is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy.  For more information about CIMA, please visit www.cimaglobal.com

Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. Its international network comprises around 10,000 offices in 83 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.  HSBC provides a comprehensive range of financial services to more than 125 million customers: Personal Financial Services (including Consumer Finance); Commercial Banking; Corporate, Investment Banking and Markets; and Private Banking. The HSBC Group had assets of US$2,150 billion at 30 June 2007, and made a pre-tax profit of US$14,159 million for the first half of 2007.

HSBC Amanah is the global Islamic financial services division of the HSBC Group. It was established in 1998 with the aim of making HSBC the leading provider of Islamic financial services worldwide. With more than 150 professionals serving the Middle East, Asia-Pacific, Europe and the Americas, HSBC Amanah represents the largest Islamic financial services team of any international bank.  With the global resources of the HSBC Group at its disposal and the largest Islamic finance team of any international bank, HSBC Amanah is uniquely positioned to understand structure and distribute financial services that are compatible with the requirements of Shariah (Islamic Law).

For press enquiries only, please contact:
Annette Heninger
Press Officer, CIMA
+44 (0) 20 8849 2427
annette.heninger@cimaglobal.com 

Mohamed El Khalouki
+971 3906637 
mohamedelkhalouki@hsbc.com

© Press Release 2008