The Chartered Institute of Management Accountants (CIMA) today announced the renewal of its longstanding partnership with Talal Abu Ghazaleh Professional training group where it will continue to offer its qualification in Islamic Finance to aspiring students and professionals in the UAE.
The globally recognised qualification aims to address the demand for skilled Islamic Finance professionals in a fast-growing sector where according to the World Islamic Economic Forum (WIEF), the global Islamic commercial banking assets is expected to exceed by $2 trillion by 2014. Furthermore in the next 5-7 years, approximately 50,000 Islamic finance professionals will be needed to support this booming sector. This positive forecast has led to a strong competition among leading business hubs including Dubai, London and Kuala Lumpur, all vying for the top spot to become the global hub of Islamic banking and finance.
In the GCC, CIMA first launched its certificate in Islamic Finance in 2008. Today close to 1000 students have enrolled and benefitted from this qualification.
CIMA’s Islamic finance qualifications, available in English and Arabic, offers prospective students the option of qualifying in four strategic courses. Students can opt for modules such as Islamic commercial law, Banking and Takaful, Islamic Capital Markets and Accounting for Islamic finance institutions. CIMA students enrolling for the Islamic finance qualification also have the option of taking an advanced diploma, a self-study course which offers flexibility and progressive learning. Employers also benefit from hiring CIMA graduates, as they learn strategic insights and gain a solid understanding of the Islamic finance industry.
Commenting on CIMA’s service renewal with Talal Abu Ghazaleh professional training group, Geetu Ahuja, Head of GCC, CIMA said: “We are looking forward to continuing and strengthening our cooperation with Talal Abu Ghazaleh professional training group. Through this rewarding partnership, along with the qualification available in English we can access as well as empower non-English speaking Arab professionals from the banking and finance sector. The Islamic finance qualification has been developed for companies and employees that need to increase their talent pool of Islamic finance staff, knowing that there is a global shortage for these professionals. This certificate will be valuable for newcomers to Islamic finance and for financial professionals seeking accreditation and qualification in this field.”
Salah Abu Osbeh, executive director at Talal Abu Ghazaleh organisation said: “The renewal of our partnership with CIMA, is another step towards our commitment to develop new opportunities for Arab professionals to be specialised and internationally qualified in Islamic finance, which is one of the fastest growing financial services sector in the region today. Through our renewed agreement with CIMA, we will be responsible for translating and delivering the Islamic Finance CIMA certificate in the Arabic language, throughout the GCC region.”
In 2013, CIMA was recognized as the ‘Best Islamic Finance Education Provider’ by the Global Islamic Finance Awards, where it was acknowledged for its contribution to the growth of the Islamic banking and finance industry, and for its role in preparing students and professionals from the GCC region for a career in Islamic finance.