Need for qualified Islamic finance professionals underlined

Tariq Khattak

Islamabad—CIMA, The Chartered Institute of Management Accountants, launched its Advanced Diploma in Islamic Finance amongst a distinguished gathering of leading industry figures from Pakistan at a local hotel.

The CIMA Advanced Diploma in Islamic Finance (CADIF) is the first qualification of its kind to be offered by a professional accountancy body, and marks a major step forward for the Islamic finance industry. It follows the successful launch of CIMA’s Certificate in Islamic Finance four years ago, which, following a detailed review, has recently been re-graded to the CIMA Diploma in Islamic Finance.

Mr. Bradley Emerson, Regional Director, CIMA, said: “CIMA’s mission is to help people and businesses to succeed. Keeping to this mission CIMA recognise the growth of Islamic Finance in the world; came up with the curriculum with input from world’s best scholars in its subjects. CIMA Certificates, Diploma and Advanced Diploma courses in Islamic Finance are the first ever globally recognised qualifications. CIMA is confident that the launch of this program in Pakistan is timely and the banking professionals may make use of these courses to up shelf themselves’

Islamic finance is becoming much more prominent throughout the financial institutions of the world, rapidly growing from a niche industry to a mainstay of finance. CIMA’s qualifications in Islamic finance have been developed with this switch in mind, and to help meet a global shortfall of skilled Islamic finance professionals.

Javaria Hassan, Country Manager, CIMA Pakistan added: “Islamic finance plays a vital role in the modern business world, and it is important that there are global qualifications available to professionals in both the principal and developing Islamic finance hubs.

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Source : Pakistan observer

Tamkeen and Ernst & Young launch CIMA Post-Graduate Qualification in Business Accounting and Islamic Finance

TamkeenTamkeen, Ernst & Young Middle East, and The Chartered Institute of Management Accountants (CIMA), the world’s largest and leading professional body of management accountants, today launched its Post Graduate Qualification in Business Accounting and Islamic Finance in the Kingdom of Bahrain. Tamkeen and delivered by Ernst & Young , is a one year programme consisting of the CIMA Certificate in Business Accounting and the CIMA Certificate in Islamic Finance – both established business qualifications in their own right that are international in scope. The programme will arm 130 Bahraini graduates with the skills and knowledge required to help fulfill the need for 1,340 banking and investment specialists in Bahrain, based on the Skills Gaps survey conducted by Tamkeen      

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Speaking at the launch, Aubrey Joachim, President of CIMA, said: “This innovative qualification aims to address the need in Bahrain for qualified finance professionals who are able to operate internationally. The programme will provide foundation knowledge of global business and accounting skills complemented with a wider knowledge of Islamic Finance, which is increasingly gaining recognition across the world.”

Tamkeen’s Vice-President for Human Capital and Enterprise Development Dr. Ahmed Abdul Ghani Al Shaikh said: “We are proud to witness the rapid progress of our ambitious plan to train 130 Bahraini graduates in Islamic finance and business accounting. We trust that with the support of our partners Ernst & YoungErnst and , who will deliver the one-year training programme that enables graduates to be qualified and certified from the Chartered Institute of Management Accountants, we will be able to achieve our goals of equipping Bahrain with qualified professionals who will serve the country’s growing banking sector and human capital demands.”

The goal of diversifying the economy and driving growth requires qualified professionals well versed in global best practices and with an understanding of the global economy; something this certification will provide to aspiring finance professionals in Bahrain. This qualification will help drive future progress where, as the Economic Vision states, productivity and proportion of high-wage jobs in the financial sector will be a benchmark for other sectors.

The programme was designed to align with the needs of Bahrain’s finance sector and the country’s 2030 Economic Vision. Those completing the programme will be able to contribute to the nation’s goal of Bahrain growing to become an even stronger international financial hub. The Post Graduate qualification will enable its graduates to operate on a global platform, helping drive Bahrain towards its economic targets.

Study showed an urgent and growing need for Islamic finance professionals with a relatively low number of Bahrainis currently employed in the sector making one of the major challenges facing Islamic finance the lack of a trained national workforce.

Tamkeen to execute their ambitious plan to train Bahraini graduates. Ernst & Young Middle East and Tamkeen have a successful track-record of collaboration in the task of equipping Bahrainis with qualifications needed to fulfill the leadership’s Vision 2030 put forth for the country’s development efforts.

The programme, designed for Bahraini nationals who have graduated within the last 5 years from any field of study, will begin in May 2010. Aside from having graduated within the last 5 years applicants must demonstrate knowledge of English and Mathematics and sit through a competitive exam and an oral interview to be selected.

Source : p2u