18 January 2017

Dubai, UAE – The Emirates Institute for Banking and Financial Studies (EIBFS), the region’s largest training centre for banking and finance, today announced the launch of a new professional certification programme - Certificate in Islamic Banking and Finance (CIBF).

Designed in collaboration with the Islamic Banking and Finance Institute Malaysia (IBFIM), the course aims to develop qualified personnel with in-depth knowledge of Islamic banking products, services and processes as well as the Islamic financial market and Takaful operations.

Speaking about the new programme, Jamal Al Jassmi, General Manager of EIBFS, said: “Islamic banking and finance has witnessed phenomenal growth in the last decade, with many industry reports confirming that the UAE is poised to emerge as the global Islamic economy hub. In a bid to plug the gap between the demand and supply of trained Islamic finance professionals, EIBFS continues to offer courses that are on a par with educational programmes provided by the best institutes in the world.”

He added: “The latest addition to our course portfolio - the Certificate in Islamic Banking and Finance - teaches students how to develop innovative banking products in compliance with the most stringent Shariah principles. Participants of the programme will be able to meet the demanding requirements of the burgeoning Islamic finance market and identify effective solutions to the multitude of challenges the sector faces today. I am confident that the expertise of our graduates will significantly benefit the most prominent Islamic finance institutions in the region and enhance their overall performance.”

The programme is already receiving a high uptake from leading financial institutions in the UAE. For instance, UAE-based Emirates Islamic Bank recently enrolled 14 employees in the programme with the strategic objective of training them towards a professional certification in ‘Islamic Banking & Finance’.

The CIBF programme offers insight into the foundations and ethical principles of Islamic banking and finance, and a clear understanding of Islamic financial transactions as well as the legal and Shariah frameworks that govern the industry. It enables students to identify the guiding principles of Islamic finance, and differentiate between conventional and Islamic banking products and services. Furthermore, the programme examines the structure and mechanisms of Islamic finance, and analyses the processes and procedures involved in Islamic banking operations.

Throughout the course, participants gain a thorough understanding of the capital market and Takaful operations. In addition, the programme acquaints students with the rules of Islamic accounting and financial reporting. Graduates will be able to manage and resolve all issues related to Islamic finance with the utmost competence.

Catering to those studying while working, the three-month programme has eight modules with evening classes held three days a week for three hours a day. Participants will undergo pre-assessments to gauge their knowledge level. The final exam will take place online in a multiple-choice format.

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About EIBFS
The Emirates Institute for Banking and Financial Studies (EIBFS) was founded in 1983. As a leading independent training centre, it offers world-class education, training and allied services in the critical areas of banking and finance. Based in the UAE, EIBFS currently has three campuses for education and training services located in Sharjah, Abu Dhabi and Dubai. The Institute has made substantial contributions to the careers of thousands of students and working professionals in the financial services sector. EIBFS is also a strong supporter of Emiratization and has launched various initiatives that have greatly helped to promote the careers of Emiratis. All academic programmes offered by EIBFS are accredited by the Commission for Academic Accreditation (CAA), Ministry of Higher Education and Scientific Research. Students who have successfully completed these programmes have found productive employment at various levels in banks and financial institutions in the UAE and around the world.

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© Press Release 2017