Islamic Banking and Finance Education

Professional membership of an internationally recognized body

First Global Knowledge Centre (FGKC), the pioneer in Islamic Banking and Finance education in Sri Lanka has introduced another innovative programme of study in this rapidly expanding field.
Branded as iBanker, this is a unique diploma level course which covers not only Islamic Banking and Finance but also conventional banking, risk management, and investments.

The emerging industry of Islamic Finance needs qualified people who can contribute positively towards the success of the field. But unfortunately statistics show there is an acute shortage of such a knowledgeable workforce at present. One objective of the introduction of this course by FGKC is to assist the industry by filling this void. For those who wish to pursue higher studies in Islamic Banking or Finance the course will be a stepping stone; which is another objective of the course designers.

Another feature of this course is that it covers the syllabus of the popular world recognized Islamic Finance Qualification exam (IFQ) of the Chartered Institute for Securities & Investment, UK. Therefore, this can be considered as a two-in-one programme which allows a student to get a recognized diploma and also to sit the IFQ (UK) exam.

FGKC is the only accredited training provider in Sri Lanka for the prestigious Chartered Institute for Securities & Investment (CISI), UK which offers the Islamic Finance Qualifications (IFQ). It is also accredited to offer IFQ in the Maldives, Qatar, Bangladesh and Pakistan.

The Chartered Institute for Securities & Investment (UK) is the largest and most widely respected professional body for those who work in the securities and investment industry. Formed as the "Securities Institute" in 1992 by the members of the London Stock Exchange, the Institute got charter status in November 2009.

For those who are interested in obtaining professional membership of an internationally recognized body in the shortest possible time, IFQ is the ideal route. The IFQ course at FGKC is of 3 months' duration and at its conclusion, one can sit the exam which is conducted in collaboration with the British Council, Colombo.

The faculty of First Global comprises of practising and highly qualified experts and academics with a flair for teaching. The students immensely benefit by the lecturers' industry exposure as they gain an insight into the real life applications of theory learnt.

The facilities of the institution include comfortable AC classrooms, a comprehensive library, IT facilities with access to numerous valuable E-Materials related to Islamic banking, finance and related subjects.
Islamic Banking Finance is an ideal discipline for those who are interested in pursuing a career in a dynamic and vibrant environment.

A world of opportunities awaits those who have the vigour and passion to take up the challenge.
The financial and other career benefits that can accrue from one's involvement in the industry are tremendous.

Link: http://www.sundaytimes.lk/091213/Education/edu02.html

First group of students in Sri Lanka complete SII's Islamic Finance Qualification

A first group of 26 students in Sri Lanka have completed the Securities & Investment Institute's (SII) ground-breaking Islamic Finance Qualification (IFQ).

The students were trained for the international benchmark qualification in Islamic finance by First Global Knowledge Center (FGKC). Part of a network of 40 providers around the world accredited to train for SII qualifications, FGKC is the Institute's first training partner in Sri Lanka.

FGKC also offers training in Pakistan, Bangladesh, the Maldives and Qatar. It has entered a partnership with MENATSA Training & Development to provide specialist education programmes in Islamic finance, including the IFQ, in the Gulf region.

Arwa Tapia ASI, the SII's head of client relationship for India, travelled to the Sri Lankan capital Colombo to oversee the exam. She said: "There is a huge potential market in Sri Lanka in financial services education. We aim to complement what is already available in terms of qualifications in the domestic market and work with regulatory bodies, the Central Bank and other eminent trade bodies towards the enhancement of competence and skills in the financial services industry."

The IFQ, launched in 2006, has attracted candidates in more than 40 countries.

Link: http://www.zawya.com/story.cfm/sidZAWYA20090924131527

SII introduces Islamic Finance Qualification elearning revision aid

An innovative elearning product has been launched by the SII to help candidates study successfully for its ground breaking Islamic Finance Qualification (IFQ).

The online revision aid covers the key points of the syllabus for the IFQ, the first international benchmark qualification in Islamic finance.

Designed to be used in conjunction with the Institute's IFQ workbook, it contains:

- interactive exercises

- multiple choice revision questions

- useful website links

- tests on IFQ terminology.

SII managing director Ruth Martin said:

"Islamic finance is growing and we need to provide as much support as possible for candidates preparing for the IFQ. We hope that candidates will view the elearning product as a key resource and an integral part of their revision ahead of taking the IFQ exam."

The IFQ covers Islamic finance from both a technical and Sharia perspective. Edition 3 of the IFQ workbook and elearning product covers exams from 1 October 2009 until further notice.

The SII and Institute of Islamic Banking and Insurance (IIBI) sign agreement to promote UK as hub of Islamic finance

The Securities & Investment Institute (SII) has signed an agreement with the Institute of Islamic Banking and Insurance (IIBI) to promote the UK as the hub of Islamic finance.

The London-based IIBI is one of the world's leading independent organisations dedicated to the development and implementation of Islamic finance, achieved through education, training, research and publications.

The SII and IIBI will share their expertise and advocate the services of each other. As part of the deal, the IIBI will encourage its members to study for the SII's ground-breaking Islamic Finance Qualification (IFQ) as an entry level exam in the field. The SII will promote the IIBI's Diploma and post graduate Diploma in Islamic finance as qualifications for further progression for students following achievement of the IFQ. IIBI and the SII may choose to also develop a long-term strategy to include market research and demand relating to specialist Islamic Finance modules such as Sukuk (Islamic bonds).

The SII managing director, Ruth Martin, said: "We are delighted to work with the IIBI to promote our common goals for the development of Islamic finance skills within the UK."

Mohammad A. Qayyum, director general, IIBI, said: "We are looking forward very much to working closely with SII in strengthening the UK's position as the leading centre for Islamic finance qualifications. The agreement with SII will undoubtedly afford greater scope of advancement of competent persons in the Islamic financial services industry."

Link: http://www.zawya.com/story.cfm/sidZAWYA20090806103540