Training & Awareness

As an emerging sector a key challenge facing today’s Islamic finance industry is the shortage of qualified Shariah scholars and finance professionals who are well versed in the dynamics of both conventional and Islamic financial markets.

In response to this knowledge gap the UKIFC has devised a series of training programmes and awareness initiatives intended to build capacity in the sector. UKIFC programmes are developed specically from a practitioner’s perspective as opposed to an academic or theological lens. Practical issues associated with Islamic nance such as risk and operational impact, accounting and reporting, shariah governance and financial regulation (including conventional, Islamic finance and Basel 3) are examples of our delivery areas.

Representative Activities

Establishing the first international Shariah scholar CPD programme providing tailored training on conventional nance markets

Running executive training courses (with bespoke programmes available on request)

International study tours and capacity building sessions

Delivering tailored courses for banks and government bodies such as central banks, tax authorities, pensions departments and insurance regulators (both in country and overseas)

Planning and managing community awareness events

Working with universities and community groups to plan and execute education and awareness campaigns

Highlights

Worked with the Chartered Institute for Securities & Investment to launch the groundbreaking global UKIFC Scholar Professional Development Programme which was endorsed by the UK Government and has led to governments around the world changing their regulatory frameworks to make scholar CPD mandatory

Trained a delegation of bankers from Ethiopia’s central bank and leading private sector banks

Undertook an international non-interest/Islamic micro nance capacity building tour visiting over 30 organisations across Indonesia and Pakistan

Produced “What is Non-Interest Finance?” educational and awareness booklet for banking, investment and insurance professionals in Nigeria

Successfully delivered over 18 executive training courses in the UK, UAE, Malaysia, Bahrain and Nigeria

Delivered “The Islamic experience in Europe” seminar on behalf of CASE, Narodowy Bank Polski, Centre for International Initiatives and the Polish Economic Association as a part of an effort to broaden the understanding of Islamic finance in Poland

Organised a successful Islamic nance campaign in Glasgow which involved round tables/workshops with local Imams, community awareness days where product providers showcased their offering and talks on local radio/community events

Endorsements

“This joint initiative with the
UKIFC’s aims to enhance Shariah scholars and Islamic banker’s comparative understanding of conventional versus Islamic finance. This will go a long way in empowering the scholars and bankers.”

HE Governor Rasheed Al Maraj,
Governor of the Central Bank of Bahrain