(L-R)Prof. Bruce Taylor, President, ECT, Dr. Mahmoud Abdalaal, and CEO of aafaq Islamic Finance

The Institute of Finance and Management (IFM has entered into a strategic partnership with the Emirates College of Technology’s (ECT) and Continuous Education Centre (CEC), an Abu Dhabi-based private institution of higher education, to explore mutual collaboration in the development of human resources, research and consultancy.

The Memorandum of Agreement (MoU) was signed by Dr. Mahmoud Abdalaal, CEO of aafaq Islamic Finance, and Prof. Bruce Taylor, President of ECT, and Wael Al-Anqar, Chairman of the Board of Trustees and CEC presenter.

Under the terms of the agreement, IFM and ECT will issue joint professional diploma in Islamic Finance inclusive of Islamic Banking, Islamic Capital Markets, Risk Management for Islamic Financial Institutions, Accounting, International Financial Reporting Standards (IFRS) vs Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), and Takaful. The certificates bearing the logos of both parties will be issued upon successful completion of the course.

“We continue to partner with pioneering and leading institutions in the UAE to contribute to the progress and development of the nation’s economy, specifically by preparing qualified and skilled professionals who can lead the country towards economic excellence,” said Dr. Abdalaal. “The highly strategic collaboration between IFM and ECT and CEC will provide high-quality training and professional development programs to students to fuel their career growth. We are confident that this partnership will result in building visionary Islamic finance leaders of the future who will lead Dubai in its efforts to become the capital of the global Islamic economy in a few years.”

“In a strategic move, ECT has collaborated with IFM to offer joint diploma and certificate courses in wide range of Islamic Finance -related topics to build the professional competences of the UAE,” said Prof. Bruce Taylor. “CEC is a reputed institution for distinctive educational programs and the courses offered under the MoU are specifically developed for aspiring students looking to build a career in the promising Islamic Finance sector. We are upbeat that our partnership will help in strengthening the UAE’s human capital, enabling them to play a decisive role in the banking and finance industry to address the challenges of the global economy.”

“The collaboration between IFM and ECT-CEC will offer the best Islamic Finance programs and courses with a strong focus on research, innovation, and training. We aim to underscore the importance of Islamic Finance in the current and future economic perspectives. Aside from benefiting both parties, the partnership will contribute in building a generation of qualified professionals with the skills to address the challenges of the local, regional and global economies,” concluded Dr. Abdalaal.