Islamic Finance Qualification: Advisory Council and syllabus announced 24406
Press Releases
The UK Securities & Investment Institute (SII) and Lebanon’s Ecole Supérieure des Affaires (ESA) today announced the names of the Advisory Council for Islamic Finance (ACIF) which is responsible for the shaping of the new Islamic Finance Qualification (IFQ).
The development of the IFQ, the world’s first ever Islamic finance qualification covering Islamic finance from both a technical and Shariah aspect, was announced by SII and ESA with the support of the Central Bank of Lebanon in London in June last year. Since then a syllabus has been developed and the Advisory Council named.
The ACIF Chairman is Dr Ahmad Jachi – (in Lebanon), First Vice-Governor, Banque de Liban. The ACIF members are:
· Dr Abdul Sattar Abu Ghuddah (in Saudi Arabia)
Member of International Islamic Fiqh Academy and the Islamic Accounting & Auditing Standards Board.
· Professor Simon Archer (in UK)
University of Surrey, expert and consultant in Islamic Finance
· Jean-Marc Riegel (in Bahrain)
Head of the Islamic Banking Unit and Head of Middle East Financial Institutions Group of BNP Paribas.
· Samir Salameh (in Lebanon)
Head of Corporate Risk Management for Audi Saradar Bank, Beirut
· Mansoor Shakil – (in Dubai)
Manager Shariah Compliance
HSBC Amanah
ACIF is supported by a panel of experts in the UK comprising: Samer Hijazi, KPMG, - Waheed Qaiser, Islamic Banking and Finance Specialist and Paul Sherrin, Lloyds TSB Bank PLC.
The workbook, which will underpin preparation for the IFQ examination, will be available from June 2006. The book is edited by Brian Kettell who has extensive knowledge of Islamic banking.
As this will be the first ever handbook on practical Islamic banking the text may well be of interest to organisations already engaged in this area, or thinking of moving into Islamic banking, as a practical guide for their staff.
The SII\ESA Islamic Finance Qualification is unique globally because:
· There is no other qualification or unified standard practice which covers Islamic finance
from both a technical and Shariah aspect which will offer the degree of
international portability and professional competence comparable to that offered by the IFQ.
· The IFQ provides the
first international benchmark in the area of Islamic finance and it is
aimed at both existing employees, new employees as well as
individuals seeking a career in Islamic finance.
· The IFQ will be
jobs-focused and will require candidates to demonstrate a practical understanding of Islamic finance as opposed to discussing academic and theoretical issues.
· SII\ESA will be
offering face-to-face training mainly in the UK and Lebanon.
· The training will be supported by a workbook which will be the
first ever handbook published on practical Islamic banking.
The IFQ syllabus consists of 9 elements which will include:
Element 1 – Introduction to Islamic Finance
Element 2 – General principles of Islamic Finance
Element 3 – Islamic contracts
Element 4 – Islamic banking activities
Element 5 – Finance Statements in Islamic Banks
Element 6 – Governance in Islamic institutions
Element 7 – Islamic investment funds
Element 8 – Islamic Bonds – Sukuk
Element 9 – Islamic Insurance – Takaful
Further detail on the individual elements as outlined above are available at
www.sii.org.uk/WEB5/Infopool.nsf/HTML/iIFQInstitute.
The IFQ will be offered in both Arabic and English throughout the UK, Lebanon and other countries in which Islamic finance is rapidly growing.
Pilot examinations are scheduled for the third quarter of 2006. Candidates wishing to register their interest in the first official exam sittings, likely to take place in early 2007, should contact SII in the UK on
ifq@sii.org.uk and ESA in Lebanon on
ifq@esa.edu.lb.
ends
FULL SITE MAP (recommended for users with special accessibility requirements)
