ISLAMIC FINANCE GLOBALLY
The Islamic Financial Services Board (IFSB), and International Centre for Education in Islamic Finance (INCEIF) and its consulting subsidiary, ISRA International Consulting (IICSB), signed a Memorandum of Understanding (MoU) to further promote Islamic Finance.
The MoU that was signed virtually, between Dr Bello Lawal Danbatta – Secretary-General of IFSB, Prof. Dato Dr Azmi Omar – President & CEO of INCEIF, and Prof. Dr Ashraf MD. Hashim – CEO of ISRA International Consulting – aims to provide a framework for collaboration between the three (3) parties with regard to the promotion of activities related to the development and expansion of knowledge in Islamic finance, on the basis of equality and mutual benefit.
The collaboration anticipates to develop a myriad of academic cooperation and exchange of educational resources, which includes joint organization of learning programmes, trainings, workshops, joint researches, publications, group discussions, and joint events; while advocating collaborative efforts in potential areas of common interests, relevant to enhancing knowledge and raising proficiency in the area of Islamic finance globally.
Dr Bello is optimistic that, “The close collaboration that gathers field experts respectively from IFSB, INCEIF, ISRA and that pushes forth together our combined technical know-how, is poised to provide a fitting arena for players in the Islamic Financial industry to upskill their pertinent competencies and absorb in industry insights to keep abreast with the latest industry challenges and trends.” He added, “This is in line with our unwavering commitment and continued efforts to promote the Islamic finance industry’s growth and stability with our partners.”
The IFSB continuously seeks strategic partnership to facilitate in maintaining a robust, effective and efficient Islamic finance regulatory framework that needs to be responsive to the ever-changing economic conditions and financial trends, while nurturing a conducive environment for financial growth and innovation.
“Our association with IFSB, an esteemed standard-setting organisation, has certainly strengthened our mission to become a global thought and knowledge leader in Islamic finance. Today as the world recovers and resets from a global pandemic, more than ever social and sustainable financing, which share its inherent traits with Islamic finance, will be mainstreamed as part of the solution to the challenges facing the world today in particular those concerning sustainability and inclusivity. INCEIF and IICSB Consulting look forward to working closely with IFSB to solidify IF’s role in the global financial landscape.
IFSB has also been supporting INCEIF over the years by continuing to employ INCEIF graduates. The diversity of our graduates, who come from all over the world and from various backgrounds, would hopefully provide a dynamic pool of talent to this internationally renowned standard-setting body,” INCEIF President and CEO Professor Dato’ Dr Azmi Omar.