DUBAI, UAE, February 6, 2012 /PRNewswire/ --

Today Ethica Institute of Islamic Finance, the most heavily enrolled Islamic finance training and certification institute in the world with over 20,000 paying users, announced that it has granted Infinity Consultants, an India-based advisory firm, rights to exclusively market and sell Ethica training across India. 

Bids for the much sought after Ethica country exclusivity license began last year and were concluded recently. Other country exclusivity licenses currently under discussion include ones for Pakistan, Oman, Australia, Nigeria, France, and Germany. Ethica is currently offered in 43 countries and this will be the first time a partner has the right to exclusively sell Ethica to an entire country. 

Ethica's entry into India may be a critical turning point for bringing Islamic finance to a growing economic powerhouse with over 150 million Muslims. In the industry, only Ethica's e-learning platform is 100% online and fully AAOIFI-compliant. That means whether Ethica is training one user, a group of college students, or the entire staff of a bank, training duration remains only 4 months. For a country with limited professionals trained in Islamic finance, the Ethica-Infinity partnership could prove historic. 

Saif Ahmed, Managing Partner at Infinity and a former Islamic banker said, "In less than 4 months, Indian residents now get a globally recognized certificate in Islamic finance at a cost that is affordable from the comfort of their own home or office - something which was not possible before. This is a critical step for Shariah-compliant liquidity to find its way into India through infrastructure and private equity investments." 

Ethica is also launching special pricing for Indian residents, now available at http://www.EthicaInstitute.com/Infinity/Register.aspx. Ethica's core product is their 4-month Certified Islamic Finance Executive (CIFE) program, the only 100% AAOIFI-compliant and 100% online Islamic finance certificate in the market today. AAOIFI stands for the Accounting and Auditing Organization for Islamic Financial Institutions, the leading Islamic finance standard in the world and the de facto standard for over 90% of the world's jurisdictions. 

Ethica's spokesperson said, "In the aftermath of the global financial crisis, governments around the world recognize the precariousness of purely conventional capital markets and the need for asset-backed, equity-based finance. If India is going to attract Shariah-compliant investment at this critical time, when Gulf liquidity is fast making decisions about where to go next amid a growing Euro crisis, it will first have to train its professionals in AAOIFI-based Islamic finance."    

About Infinity Consultants 
Infinity Consultants (www.infinity-consult.com) is a Shariah-compliant advisory firm based out of Bangalore, India focused on providing corporate finance advisory to clients in the GCC region and advising on cross-border investments between India and the Middle East with a track record of over 30 executed engagements. Infinity is also pioneering several Islamic finance initiatives in India as part of its mission to introduce an ethical alternative to the conventional interest-based financial system. Infinity's key resource base is its human capital with team members bringing a wealth of experience in investment banking, private equity, management consulting, and Islamic finance in the US, UK, Gulf, and Indian markets. To learn more about Ethica's training programs in India, please call +91-80-6547-3517 or e-mail at ethica@infinity-consult.com. 

About Ethica Institute of Islamic Finance 
Winner of "Best Islamic Finance Qualification" at the 2011 Global Islamic Finance Awards, Ethica (www.EthicaInstitute.com) is chosen by more professionals and students for Islamic finance training and certification than any other organization in the world. With over 20,000 paying users in 43 countries, the Dubai-based institute is accredited by leading scholars and serves banks, universities, and professionals across over 100 organizations. To watch an Ethica training video click here. For more information about this article, or to schedule an interview with Ethica Institute of Islamic Finance, please call Sameer Hasan at +971-4-455-8690 or e-mail at info@ethicainstitute.com.

Islamic microfinance represents the ultimate opportunity for Islamic finance to live up to its potential. Most of the Muslim majority countries today suffer large-scale human developmental crises. While conventional microfinance has taken the lead, it is providing non-Sharia’ah compliant offerings that millions of low-income Muslims reject. The conventional microfinance model has also come under much scrutiny. 

So what is the current state of Islamic microfinance? What is Islamic microfinance anyway? And what are the existing opportunity areas? These and other questions will be addressed at this facts-driven webinar. 

In this 90 minute webinar followed by Q&A, we discuss:
- Global micro-finance landscape, social impact, and short comings today
- Social needs for micro-finance in Muslim majority countries
- Islamic micro-finance landscape: Key players and success stories
- Islamic micro-finance core models and structures (to be presented in Part II)

Play webinar recording here.

DUBAI, UAE, December 19, 2011 /PRNewswire/ --

What makes an Islamic finance qualification special? And what makes it special enough for the industry's leaders to award it their most coveted prize?

If Ethica's win this weekend at the Global Islamic Finance Awards (GIFA) is anything to go by, then the most critical element for bankers and students is that the qualification have real-world application. Sameer Hasan, Business Director at Ethica, received the award and said, "People are frustrated with certificates they can't use: the training is mostly theoretical and the certificates do little to attract recruiters. Ethica's CIFE graduates get hired in a tough job market because we try to go beyond theory while also helping students land jobs."

Awards were presented at the Oman Islamic Economic Forum bringing together leaders from around the globe, including keynote speaker Tun Abdullah Badawi, former Prime Minister of Malaysia. Global Islamic Finance Award's Humayon Dar said, "Ethica stands out as the clear favorite for the award of 'Best Islamic Finance Qualification' because only Ethica combines a globally recognized qualification with e-learning technology designed to train thousands of bankers and students in just months."

Ethica's 4-month Certified Islamic Finance Executive (CIFE) is the only certificate in the world to combine 100% online delivery with 100% AAOIFI compliance. AAOIFI stands for the Accounting and Auditing Organization for Islamic Financial Institutions and is the leading standard-setting body in the Islamic finance industry. To learn more about how Islamic finance is different from conventional finance, see Ethica's popular video "Why Islamic Finance" here.

With users from 43 countries and over 100 banks and universities, in 2011 Ethica became the default choice for accredited training and certification in Islamic finance

Dubai, United Arab Emirates – November 13, 2011 – In a tight job market, more bankers and students now choose Ethica to boost their credentials than any other Islamic finance program in the world. That’s the latest finding as 2011 enrollment figures roll in and catapult the Dubai-based institute ahead of older institutions like INCEIF, CIMA, BIBF, and IIBI.

Experts say that what probably sets Ethica apart is that their 4-month Certified Islamic Finance Executive™(CIFE™) certification is the only 100% AAOIFI-compliant, 100% online Islamic finance program in the market today. AAOIFI stands for the Accounting and Auditing Organization for Islamic Financial Institutions, the leading Islamic finance standard in the world and the de facto standard for over 90% of the world’s jurisdictions. Ethica’s certifications are approved by some of the industry’s top Islamic finance scholars, including Shaykh Yusuf Talal DeLorenzo, one of AAOIFI’s Shariah Board members, and Mufti Zubair Usmani, Shariah advisor on the boards of several institutions.

Ahsan Shah, a recent Ethica student from the US says, “I communicated with a number of Ethica CIFE students on LinkedIn and discovered that while all CIFE graduates praised the Ethica program highly and considered it an excellent investment for their careers, graduates from other programs kept sending me precautionary warnings about not being optimistic because too many doors hadn’t been opened for them.”

Ethica’s spokesperson said, “At Ethica we try to focus on two basics that we feel other institutes seem to ignore: reliability and convenience. Ethica’s reliability comes from 100% AAOIFI-compliance and the convenience comes from 100% online delivery. If a program is only 90% AAOIFI-compliant, for instance, there’s always going to be a question mark about the Shariah compliance of the certification. And if a program isn’t delivered completely online, then bankers and students are left dealing with guidebooks in the mail or crash courses in the classroom.”

The combination seems to be paying off as Ethica brings together a diverse set of clients across 43 countries: large banks like Mashreq Bank where hundreds of bankers are trained and certified; established universities like La Trobe University in Australia where students take for-credit courses based on Ethica content; and media partners like Dow Jones affiliate Zawya, where over 750,000 users are offered Ethica’s training and certification.

About Ethica: Ethica Institute of Islamic Finance (www.EthicaInstitute.com) is a training, certification, and advisory institute based in Dubai, UAE. In 2011, 2010, and 2009 Ethica received the “Best Islamic Finance Training Institute” award nomination from Islamic Business and Finance Magazine and in 2011 received the “Best Islamic Finance Qualification” award nomination from Global Islamic Finance Awards in the UK. To watch an Ethica training video, click here and to register for Ethica’s popular 7 day free course, click here.

For more information about this article, or to schedule an interview with Ethica Institute of Islamic Finance, please call Sameer Hasan at +971-4-311-6724 or e-mail at info at ethicainstitute dot com.

Ethica interviews Charles Eisenstein, the author of "Ascent of Humanity" and "Sacred Economics." It was the latter of these books that was the inspiration for us at Ethica getting in touch with Charles.

As listeners of the interview will realize, Charles looks at the topic of Economics from the perspective of civilization, consciousness, money, human, and the spiritual and much of what he articulates is entirely consistent with what Islamic finance 'should be'. We use the words 'should be', because the interview also touches on some of the things that have so far impeded much of Islamic finance from realizing its original ideals.

Charles is a Yale graduate with degrees in Mathematics and Philosophy and currently serves on the faculty of Goddard College. Aside from his formal teaching, he is actively involved in training and delivering seminars and workshops on how to apply the sacred in economics. Charles has also been recently featured on the cover of Ode Magazine and has been described as one of the deepest integrative thinkers active today.

Join us in a conversation that may just change the way you view Islamic finance forever and more importantly outline the role you can play in bringing the sacred back into economics.
As Charles says, "help create that more beautiful world that all our hearts tell us is possible."

To download as mp3, click here.
To listen, click the play button

DUBAI, UAE, October 3, 2011 /PRNewswire/ --

Ethica's Islamic finance e-learning platform helps Dubai extend its global reach in training and certification.

The Government of Dubai today announced that it is partnering with e-learning and certification specialist Ethica Institute of Islamic Finance. Ethica is the leading Islamic finance training institute in the world, with over 20,000 paid users in more than 40 countries and 100 institutions in 2011, more than any other Islamic finance institute in the industry. The announcement further strengthens Dubai's position as the world's premier Islamic finance hub, and with Ethica's leadership in online training, Dubai goes truly global.

Central to the Dubai-Ethica collaboration is an ongoing series of high-level trade delegations. The Government invites Ethica to Indonesia next month to meet with banking and regulatory officials and previously invited the institute to France, Germany, Brazil, Argentina, and Australia. By promoting online training and certification, Dubai helps these untapped Islamic finance markets access the same level of accredited training readily available to bankers in the Gulf. Ethica is the only online institute in the world to offer training accredited by top scholars and institutions and fully compliant to AAOIFI, the industry's leading Islamic finance standard.

Moin Anwar, Director at Dubai Exports said, "Ethica brings a global brand with proven industry credentials. They are the only ones in the market that banks hire to train thousands of employees - 100% online. That is precisely what we need to meet the needs of our international trade partners."

Ethica's Managing Director, Atif Khan said, "E-learning works. Our experience delivering online training to banks in the Gulf shows that in today's market, e-learning is the preferred choice among the younger generation of bankers. The challenge, however, is to make this e-learning exciting. At Ethica we devote ourselves to meeting this challenge."

About Ethica Institute of Islamic Finance: More professionals and students choose Ethica for Islamic finance training and certification than any other organization in the world. With over 20,000 paid users in more than 40 countries in 2011, the Dubai-based institute is accredited by leading scholars and institutions and serves banks, universities, and professionals across over 100 organizations.

About Dubai Exports: The Dubai Export Development Corporation (DEDC) provides exporters with the services required to enter or expand into foreign markets. The DEDC also undertakes an advocacy role for exporters in their relations with government and other relevant agencies through the formation of long-term and mutually beneficial partnerships.

For more information about this article, or to schedule an interview with Ethica Institute of Islamic Finance, please call Sameer Hasan at +971-4-311-6724 or e-mail info at ethicainstitute.com

Download the Video, Audio and Presentation for Ethica's latest webinar "How to Calculate Zakah" here.

We were overwhelmed by the attendance and humbled by your positive feedback and words of appreciation and would like to thank everyone who attended. 

If you missed the live webinar, have Zakah-related questions, or want your friends, family and colleagues to benefit - please forward this email using the 'Forward to a friend' link on top, post to your Facebook page, tweet on Twitter - Spread the Word! 

Included in your Webinar recording: 
- The importance of Zakah 
- What is Zakah? 
- What is Nisab? 
- Who pays Zakah? 
- Who is and is not entitled to receive Zakah? 
- Which assets are subject to Zakah? 
- Zakah date considerations 
- Salary and wealth fluctuations during the year 
- How to pay Zakah? 
- Validity of Zakah? 
- Missed Zakah 
- Zakah and debts 
- And dozens of questions from the audience of direct relevance to you!

The Journey of Islamic Finance: Ideals, Inception and Realities

Amid impressive commercial growth there is a growing feeling that the industry is more about form than substance - we seek to uncover the truth. Has the industry lived up to its original ideals? If so, what were they and what was the path that the industry was expected to take? Importantly, if it hasn’t achieved its objectives, how does it hope to get there? More importantly, what role can you play in this process?

Play Webinar Recording, Listen to Webinar Audio or Download Presentation here.

Join the discussion on Ethica's Facebook page here.

Two months of rigorous, first ever Islamic finance training successfully completed

Dubai, United Arab Emirates, July 27 2011 – What does it take to bring 7 million American Muslims Islamic finance? Maybe training only 100 prominent religious leaders as a small first step. That is what the founding members of the American Islamic Finance (AIF) Project have now successfully accomplished. Jointly founded by Ethica Institute of Islamic Finance, Guidance Financial, and the Islamic Society of North America, the AIF Project seeks to promote standards-based Islamic finance among Muslim communities in North America.

The training program began with an inaugural address by Mufti Taqi Usmani, chairman of AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions), the world’s leading standard-setting body. Ethica’s spokesperson said, “Muslims in America rely on their imams for all kinds of information. By giving these community leaders direct training in the practical application of Islamic finance, Ethica now equips them with an understanding of global standards.”

Ethica’s two-month imam training program looks to become an annual event. The program was successfully completed this month after Ethica delivered a rigorous blend of e-learning, including case studies, exercises, and exams, in addition to intensive classroom instruction. With fewer banks and universities opting for face-to-face training, and more institutions adopting the increasingly popular e-learning option, Islamic finance is set to become more accessible to countries outside of the Gulf.

Over 800 Scholar-Approved Answers to Your Practical Questions
- How is the profit in a Murabaha different from the interest on a conventional loan?
- Is it lawful to use money deposited in bank accounts as collateral?
- Is it permissible for the bank to seek indemnity insurance policy covering risks such as theft, cash in transit, fraud, forged documents, valuables and the like?

Benefits of Ethica’s Q&A Database:
- Scholar-approved
- Largest database of Islamic finance Q&As available online…new Q&As added every week
- Completely Free!

Browse all Q&As by category here.

And now…to serve the community better Ethica’s ‘Ask A Question’ is a free service! Each question is reviewed by an Islamic finance expert and approved by a scholar.

Go here to submit your questions.