INCEIF drives increasing recognition of Islamic finance’s social benefits

24th  May 2016, British Virgin Islands: INCEIF-The Global University of Islamic Finance- today begins a two-day executive education programme titled ‘Why Islamic Finance Makes Business Sense’—in Tortola, British Virgin Islands.

At the request of the Financial Services Commission of the British Virgin Islands, the INCEIF senior team led by its President & CEO, Mr Daud Vicary Abdullah, Deputy President Academic Prof Datuk Dr Syed Othman Alhabshi, INCEIF Chair of Islamic Finance, Prof Dr Abbas Mirakhor and Assoc Prof Dr Baharom Director, Centre of Research & Publication is on ground to provide insight into how Islamic finance creates equitable economic growth.

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 The programme provides an overview of Islamic finance with focus on risk-sharing and equity based Islamic financing; regulatory requirements; economic and business benefits. It is being attended by senior ministers along with heads of government-linked companies and the financial industry.

INCEIF President & CEO Daud Vicary Abdullah said— “INCEIF is honoured to provide the Financial Services Commission of the British Virgin Islands a better understanding of how Islamic finance – a sensible, sustainable and well-grounded alternative source of financing, serves both the country and the financial service industry.

As the global Islamic finance industry grows, the advantages offered by international financial centres, such as the British Virgin Islands, are being sought to facilitate and lower the transaction and regulatory costs incurred in structuring Islamic finance products and transactions, and the incorporation of investment funds and corporate structures.

Mr Abdullah added – “As the global university for Islamic finance that is governed by the industry, we are pleased to share global Islamic finance trends and insights from around the world including Malaysia, the world’s Islamic finance marketplace – a leader in Islamic finance expertise, innovation and deal flow.”

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