Both parties agree on the significance of establishing reference standards for licensing experts in the field of Islamic Finance
Dubai Center for Excellence in Islamic Banking and Finance (DCIBF) recently received a visit from Daud Vicary Abdullah, CEO and President of the International Centre for Education in Islamic Finance (INCEIF), the global university of Islamic finance was established by Bank Negara Malaysia. On hand to meet him was HBMeU Chancellor Dr. Mansoor Al Awar, where they discussed various matters relating to the Islamic banking and finance sector and the importance of e-learning in this day and this era. Both parties also shared their experiences and discussed potential initiatives and projects that can be highly beneficial to HBMeU and INCEIF. Both parties have also agreed on the importance and need to establish key reference standards for licensing experts in the field of Islamic Finance.
Dr. Al Awar explained the importance of DCIBF to Dubai and the region, as a quality-oriented addition to meet the needs of the Islamic banking and finance industry. He mentioned how the Center offers academic and professional training programs and scientific research in line with the best international practices. He further highlighted the ongoing efforts of the Center to establish Dubai as the world’s Islamic economy capital to support the ambitious vision and directives of the emirate’s leadership.
Dr. Al Awar said: “Launched by H.H. Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, and President of HBMeU, DCBIF offers high-quality academic programs and training courses to strengthen the concept of Islamic economy. We look forward to collaborating with INCEIF to develop curricula on Islamic banking and finance as it supports the Center’s vision of producing world-class talent for the global Islamic finance industry.”
“With the advancement of online channels and digital media, eLearning has become highly relevant and can be availed by organizations for enhancing professional skill sets of their employees particularly through the executive training programs. The high standards set by HBMeU in the field of eLearning are commendable. We are confident that our collaboration with HBMeU will enable us to leverage on its position as a leading eUniversity, especially in this part of the region,” added Abdullah.
Aside from discussing the importance of their respective entities during the meeting, both parties concluded that eLearning is an excellent platform for continuous professional development. They also agreed on the need to collaborate on several fronts, including joint courses to offer high-quality programs on Islamic banking and finance, develop curriculum relevant to the industry and focus on accreditations not just from educational authorities but also from industry related institutions.
INCEIF is one of many initiatives undertaken by Bank Negara Malaysia to develop and nurture talents and experts under the Malaysia International Islamic Finance Center (MIFC). It offers three postgraduate programmes in Islamic Finance – Chartered Islamic Finance Professional (CIPD), Masters in Islamic Finance and PhD in Islamic Finance. INCEIF offers industry-focussed executive education that includes customized executive programmes.
The Dubai Center for Excellence in Islamic Banking and Finance’s academic programs are based on three pillars - Human Capital Development, Research, and Community Service.It was established through the mutual cooperation between HBMeU and the ‘Dubai: Capital of Islamic Economy’ initiative.