Merit scholarships for Islamic finance courses

International Institute for Islamic Economics and Finance (IIISE) leading Islamic finance school based in UAE offering 125 partial scholarship to follow 7 unique courses in Islamic finance.

IIISEF is a United Arab Emirates based international business school offering courses Islamic banking, Islamic finance, Islamic marketing, Islamic accounting, Zakath and Waqf.

We are affiliated and partnered with GSBE (Geneva School of Business and Economics, Switzerland based business school) and AITU (American International Theism University, Flordia -USA based international school).

The diploma certificate will be awarded by GSBE in partnership with IIISEF.

The programs eligible for scholarship are ;

  1. Executive Diploma in Islamic finance
  2. Executive Diploma in Islamic banking
  3. Professional Diploma in Halal Industry Management
  4. Professional Diploma in Waqf Management
  5. Professional Diploma in Islamic Commercial Law
  6. Advanced Diploma in Islamic Finance
  7. Advanced Diploma in Islamic banking and FinTech

The school is offering 125 partial scholarship for the prospective students to follow the Islamic finance courses which are fist come first serve basis.

The regular course fee for Diploma(Executive/Professional) is $ 300 and Advanced Diploma is $ 500

The prospective students should send an email to or WhatsApp + 971 50 367 9318
with the course that you are willing to follow and request a link test.

Please visit our website for the further details.

Scholarships for Islamic finance courses

Press release – AAOIFI makes all its standards accessible on its website on a complimentary basis

Manama, Kingdom of Bahrain

January, 2021


AAOIFI makes all its standards accessible on its website on a complimentary basis

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) announces availablity of all sets of its standards online free of charge. 

In the past the AAOIFI Shari’ah standards were available online for free in English and Arabic. However, recently the Executive Committee of AAOIFI has accepted the proposal to make all standards including accounting, governance, auditing and ethics standrads available online on a complimentary basis in Arabic and English languages. The e-standards can be accessed from:

For more details and the press release, please click on:

بيان صحفي

المنامة، مملكة البحرين

أيوفي تتيح جميع معاييرها مجاناً على موقعها الالكتروني

أعلنت هيئة المحاسبة والمراجعة للمؤسسات المالية الإسلامية (أيوفي)عن توفير جميع معاييرها مجاناً على موقعها الالكتروني.

وقد وفرت أيوفي في السابق معاييرها الشرعية مجاناً على موقعها، باللغتين العربية والإنجليزية، إلا أن اللجنة التنفيذية وافقت مؤخراً على مقترح إتاحة جميع المعايير بما فيها معايير المحاسبة والحوكمة والتدقيق والأخلاقيات مجاناً على موقعها باللغتين العربية والإنجليزية. رابط صفحة المعايير على الموقع الإلكتروني لأيوفي:لمزيد من التفاصيل ومتابعة الخبر الصحفي ، يرجى الضغط على:

The Need for Shari’ah-Compliant Awqa ̄f Banks

Abstract: Bridging global economic inequalities calls for effective financial alternatives such as awqa ̄f banks to better attend to the needs of the poor and underprivileged. This is expected to address the root causes of poverty and ensuing economic gaps, improving much of the living standards whether pertaining to education, health, shelter, employment or basic social services while reducing the state’s economic and financial burden. We envision awqa ̄f banks as institutions which are established through cash awqa ̄f and which operate multiple awqa ̄f funds alongside an assortment of financial instruments. The main use of their awqa ̄f funds are the issue of low-cost credit to the poor, economically disadvantaged and underprivileged, instead of focusing solely on generating and maximizing shareholder profits. This is to support the economy through of steady and sustainable growth, effectively raising the lower bar on per capita income and lifting multitudes out of poverty and need. This paper explores how low-cost credit can be provided to the poor or lower income demographics through awqa ̄f banks, while addressing relevant issues such as Shari’ah compliance, services rendering, investment and awqa ̄f distribution. This paper also examines current studies on awqa ̄f in relation to finance and banking, the basic functions, and characteristics of the Shari’ah-compliant awqa ̄f bank, as well as evaluations of awqa ̄f banks. Current studies show that there is a legitimate need for Shari’ah-compliant awqa ̄f banks which not only providing services for its beneficiaries but also manage investments and awqa ̄f funds that contribute to overall national development and economic growth. This study would be of high relevance to experts, practitioners, financial managers, regulators, and policy makers in the fields of awqa ̄f, banking and finance.

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Effat University , IRTI and INCEIF


 The 5th Islamic Finance Conference (IFC 2019) ON


Date: December 1st 2019

Venue: Effat University, Jeddah, Kingdom of Saudi Arabia

You are cordially invited to submit your research papers for presentation at the 5th Islamic Finance Conference (IFC 2019) on December 1st, 2019 that will take place in Jeddah (Saudi Arabia). The IFC 2019 is organized by Effat University, the Islamic Research and Training Institute IRTI and the International Center for Education in Islamic Finance INCEIF. The aim of this conference is to bring together the local and international researchers, scholars and policymakers to present and to discuss research in the field of financial technology, smart contracts and Islamic financing.


Following the success of the previous Islamic Finance Conferences, Effat University, the Islamic Research and Training Institute IRTI, and the International Center for Education in Islamic Finance INCEIF are organizing the 5th IFC scheduled to be on the December 1st 2019 in Jeddah, Saudi Arabia. Themed “ISLAMIC BANKING AND INSURANCE IN THE ERA OF DIGITAL TRANSFORMATION”, the forthcoming IFC 2018 is expected to platform academicians, scholars, researchers, professionals, bankers, insurers and other stakeholders to be together to discuss the revolutionary technology of Blockchain and digital transformation that the Islamic finance ecosystem could leverage to exponentially enhance business processes and streamline operations.

The digital transformation could include smart contracts and blockchains, cryptocurrencies, cybersecurity, Insure Technology, Crowdfunding, payment platforms as an emerging channels that could be utilized in the Islamic banking and insurance industry. The Digital Transformation and Fintech offer a tremendous amount of opportunities available for bankers and insurers to achieve multiple strategic objectives such as financial inclusion, customer-oriented financial services, operation excellence and competitive advantage.

The IFC 2019 addresses the question of what role digital transformation and blockchain technologies play in Shariah banking and Islamic insurance, and How Muslim entrepreneurs, bankers, insurers and small businesses could benefit from blockchain and Fintech?



  • To enrich the theory of Islamic financial innovation and its role in financing SMEs.
  • To highlight the significance of FINTECH and practice of digital insurance and banking.
  • To address various issues currently faced by Islamic finance technology.
  • To assess the current innovative efforts of the Islamic finance industry.


Deadline for abstract submission       :           September 30th

Notification for abstract acceptance   :           October 10th

Deadline for full paper submission     :           November 20th

Conference dates                                     :           December 1st   

LANGUAGES   –  The language of the conference will be in English.



The main topics of the conference include, but not limited to:

  • Islamic banking and Insurance
  • Takaful and Waqf
  • Digital banking
  • Fintech and Saudi vision 2030
  • Ethics and regulation of digital Islamic finance
  • Blockchain and cryptocurrency
  • Crowdfunding
  • Issues with Islamic financial innovation
  • Shari’ah scholars and SSBs and their position vis-à-vis Islamic financial innovation.
  • Dynamic Islamic Capital Market
  • Entrepreneurship
  • Islamic Finance and SME Financing


Authors are invited to submit their full papers in English, in Word formats. Submissions should be made though email or ConfBay website ( Contact person: Dr Tahar Tayachi

Any submissions after the September 30th will not be entertained. All the papers’ submission are peer-reviewed and the decision notification is made latest by October 10th.

            Both theoretical and empirical papers are considered by the conference. The authors are required to use the following format:

  • Length: 10 to 15 pages, Font Times New Roman, size 12, 1.0 line spacing (single space), A4 paper size, Margins: 1 inch or 2.5cm
  • Author(s) names, affiliation, correspondence address, and email address should be provided in title page
  • Between three to six key words should be mentioned by the author(s)
  • Tables and figures should be placed in their appropriate location in the paper
  • References should follow APA format

Registration Fees : No registration fees

Conference Publication :

Selected papers presented in the conference would be published in a special issue of the following ABS/Scopus Indexed journals:

Journal of Islamic Business and Management (JIBM) JIBM,

ISRA International Journal of Islamic Finance,

Islamic Economic Studies, and

Vulture Financing and Islamic private equity investments

Vulture financing and vulture fund assets are increasing in size in recent years as an alternative investment, taking a major share in the conventional finance industry. Vulture funds and vulture investors are adopting the behaviors of vultures that prey on financially distressed companies and buying the near default bonds or debts in return for higher capital gains.

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How Islamic finance can support development in agriculture

Demand for food is expected to increase by 70% by 2050 and annually $ 80 billion investment is needed to meet the future demand according to the estimates of World Bank. Middle- class population from developing country has led to the increasing demand for higher value foods such as fish, meat, and dairy products. Overall, the demand for higher value foods going to increase in next three decades which can result in increased in investment for agriculture. Agriculture is one an important source of income for the people living in rural area of developing countries. The major challenges faced by the farmers are lack of access to finance their agricultural production. Financial institutions don’t want risk themselves by investing in agricultural production and business due to their inherent risks and lower returns. Farmers are less fortunate to get loans compared to the business and industries.

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Islamic Finance: Using blockchain to solve wakaf challenges

Wakaf — the Arabic word for an endowment to a charitable cause — contributed significantly to the global socioeconomic landscape in the past, especially in eradicating poverty. However, in modern times, wakaf has not had a compelling impact on improving the welfare of the people, according to Dr Farrukh Habib, researcher at International Shari’ah Research Academy for Islamic Finance.

While there are many reasons for this, it is mainly due to the mismanagement of wakaf assets, he says. Although these assets are estimated to be worth more than US$1 trillion globally, it has been difficult for individuals and institutions to maximise the value of the endowments.

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