By TwoCircles.net staff reporter,
New Delhi: With Shariah compliant brokerage services now available in India and financial market opening door though slowly for Islamic finance, in near future there will be requirement of Islamic finance professionals. The Islamic Business & Finance Network (IBF Net) has come up with programmes to meet the requirement.
IBF Net is an India-based global network of over 5000 bankers, finance professionals, academics and students interested in the field of Islamic business and finance. It provides a range of professional certification programs through its online academy: the International Institute of Islamic Business and Finance (IIIBF) (www.iiibf.org), says a release from the Indian chapter of IIIBF.
IIIBF offers various education programs in online mode: Certified Islamic Banker (CeIB), Certified Islamic Insurance Professional (CeIIP) and Certified Islamic Investment Professional.
Given regulatory constraints in establishing mainstream Islamic banks and insurance companies in India, Islamic Business & Finance Network (IBF Net) has decided to focus on Islamic microfinance and entrepreneurship development as an immediate approach to introduction of Islamic finance in India.
IBF Net has recently established Institute of Microfinance and Development (IMAD) in the state of Orissa. IMAD aims to serve as a centre of excellence to promote participation and equity based financing and development of microenterprises as a tool of poverty alleviation. It aims to provide on-campus education in management of development, design and offer training programs for managers of microfinance institutions, non-profits, cooperatives and government agencies with a developmental role. It has a plan to offer Master’s Degree Programs in (i) Rural Development and (ii) Social Welfare under university affiliation from academic year 2009. The Master’s Programs would be supplemented by optional modules on Islamic leadership, entrepreneurship and microfinance.
IMAD is going to offer a series of International Training Programs and Workshops in major cities this year. A training program on Introduction to Islamic Finance and a workshop on Islamic Microfinance is scheduled to be held in Chennai during October 04-05, in New Delhi during October 11-12, and in Mumbai during December 27-28. These programmes will feature speakers from India and overseas from organizations, such as, Islamic Development Bank, Muslim Aid, Islamic Relief Worldwide and Indonesian Center for Microenterprise Incubation, says the statement. Participants are expected from across India and countries, such as, Sri Lanka, Indonesia, Bangladesh and others. Further details about activities and programs of IMAD are available at its website (www.imad.in).