IFSB and INCEIF sign training and research collaboration MOU

Istanbul, 16 May 2012 – An agreement to facilitate international cooperation between the two organisations in providing relevant activities relating to training and education in Islamic finance was signed yesterday by the Islamic Financial Services Board (IFSB) and International Centre for Education in Islamic Finance (INCEIF).

IFSB Secretary-General Mr Jaseem Ahmed and INCEIF President and Chief Executive Officer Daud Vicary Abdullah signed the Memorandum of Understanding (MoU) on behalf of their institutions. Also present were the IFSB Assistant Secretaries-General, Mr Abdullah Haron and Mr Abdelilah Belatik and INCEIF Professor of Comparative Economics History Prof Murat Zicakca and Senior Advisor Mr Ahmed Rehman.

Mr Daud Vicary Abdullah (3rd from right) exchanging the MoU with Mr Jaseem Ahmad.
This mutual co-operation aims to strengthen the efforts of the two institutions in promoting an exchange of information, undertaking research, development, training and education in the Islamic financial services industry. The cooperation between the IFSB and INCEIF is agreed on the following areas of cooperation:

  • Jointly exploring and undertaking various research issues concerning Islamic financial services industry.
  • Providing reciprocal staff development and exchange programmes.
  • Building awareness among the industry players through jointly conducting learning and awareness programmes, which include among other, conferences, seminars, workshops, roundtables, trainings, including custom-designed learning and training programmes.
  • Cooperating  in providing technical assistance to facilitate the implementation of IFSB Standards and to assist in building the necessary financial infrastructure for development of a sound and stable Islamic financial services industry

In the operationalisation of the MoU, the IFSB and INCEIF will be jointly participating in relevant activities related to areas of cooperation as mentioned above.  Since March this year, INCEIF has been accepted into IFSB with an Observer Status.

Mr. Jaseem Ahmed said, “This MoU provides an excellent opportunity for both institutions to cooperate, especially in knowledge enhancement and human capacity development. Among the activities would include conducting joint awareness and training programmes as well as facilitation the implementation of the IFSB Standards. I also look forward to the possibility of joint research related to key issues facing the Islamic financial services industry”.

Mr. Daud Vicary Abdullah said, “This collaboration is mutually beneficial through the industry-focused, issue-based research that will be done. In addition the facility of having staff exchange will enable both sides to upskill themselves.”






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