Emirates Institute for Banking and Financial Studies launches certificate in Islamic banking and finance

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.