Ethica at Dubai's Islamic Finance Roundtable: How to Train 10,000 Bankers in 4 Months

Ethica Institute of Islamic Finance joins Dubai’s leaders to discuss how to transform the city into the Capital of the Islamic Economy within 3 years, the stated goal of His Highness Sheikh Mohammed bin Rashid Al Maktoum, PM of the UAE and Ruler of Dubai.

Dubai, UAE, December 18, 2013

What brings together Dubai, one of the most ambitious cities on the planet, and Ethica, a small institute specialized in training bankers in Islamic finance?

Foremost, a strong sense of urgency.

Within 3 years His Highness Sheikh Mohamed would like Dubai to become the established Capital of the Islamic Economy. And Ethica offers a proven technology for training thousands of bankers in 4 months. The combination of this urgency to train bankers and a platform on which to train these bankers brings Dubai’s leaders and Ethica together.

The Islamic Finance Roundtable was organized by Dubai International Academic City (DIAC) in collaboration with Thomson Reuters, organizers of the Global Islamic Economy Summit. As part of the roundtable’s study, Deloitte found that dedicated Islamic banking skills are in high demand from GCC banks, particularly at the entry level.

“We are comfortable training large groups of professionals rapidly. Ethica trained 1,000 bankers at Mashreqbank in months, a 10 country branch network for a global British bank, staff at a major UAE bank launching Islamic finance, and elsewhere. In all of these cases, we managed to deliver the training at a fraction of what banks normally pay to outsource training. The key advantage is that staff learn at their own pace, so they actually internalize concepts,” said Ethica’s spokesperson.

The same week as the roundtable Ethica received the award for Best Research and Education Company from His Highness Sheikh Mohammed. Ethica is best known for its 4 month online Certified Islamic Finance Executive (CIFE), now held by professionals in 61 countries at over 100 institutions.

Dr. Ayoub Kazim, Managing Director of Dubai Knowledge Village and Dubai International Academic City, said, “Islamic finance is a central pillar in Dubai’s strategy to become the world’s capital of the Islamic economy. Demand for skilled workers in this field has never been higher…”


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