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The Certificate in Risk Management for Islamic Financial Institutions


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The Global Association of Risk Professionals and the Banque du Liban recently announced the development of a new program, the Certificate in Risk Management for Islamic Financial Institutions.

The explosive growth in, and increasing sophistication of Islamic financial products has created the need for standards and guidelines for sound risk management approaches analyzing these financial instruments.

The Certificate is expected to be available in 3Q 2009.

 

Islamic Finance

 

The holistic approach to life Islam requires of individuals also affects their approach to business and financial activities. The basic tenets of Sharia’a, the part of Islamic Law that covers practices and activities, dictate that investors cannot engage in transactions that are speculative, pay interest or involve contractual uncertainty.

Globalization of the financial markets and increased wealth in Islamic regions have accelerated the trend of Islamic banking and specialized products that are Sharia’a-compliant.

Development of the Certificate program is being overseen by an Advisory Oversight Committee which consists of leading Islamic finance and risk management experts and scholars from around the world:

Name Position Company
Anthony Saunders Professor of Finance NYU Stern School of Business
Richard Apostolik President & CEO Global Association of Risk Professionals
Ahmad Jachi First Vice-Governor Banque du Libon
Kenneth Abbott Managing Director Morgan Stanley
Usman Ahmed Deputy CEO, Global Islamic Banking Citibank
Ioannis Akkizidis Senior Financial Risks Analyst FRS Global
Amine Awad Executive Director, Member of the Higher Banking Council Banking Control Commission - Banque du Liban
Recep Bildik Senior Researcher Global Association of Risk Professionals
Audion de Laromiguiere Director, Corporate Risk Advisory, Middle East Barclays Bank
Christopher Donohue Managing Director Global Association of Risk Professionals
Mahmoud El-Gamal Chair of Islamic Economics, Finance and Management Rice University
Anuouar Hassoune VP, Senior Credit Officer & Global Coordinator for Islamic Finance Moody's France SAS
Sohail Jaffer Managing Director Premium Select Lux S.A.
Fawad Laique Executive Manager Ernst & Young
Shakil Mansoor Director HSBC Amanah
William Martin Chief Risk Officer Commonfund
Jean-Marc Riegel General Manager Corporate & Development Group Qatar Islamic Bank
Assem Safieddine CFA Society Chairman CFA Society
Nadir Sarela Director, Risk Management Citibank
Robert Scanlon MD, Chief Risk Officer, Wholesale Bank Standard Chartered
Nabeel Shoaib Global Head of HSBC Amanah HSBC Amanah
Jaap Spronk Vice-Dean, International New Business Development Erasmus University of Rotterdam
V. Sundararajan Director and Head of Financial Practice Centennial Group Holdings
Sami Suwailem Manager of Research & Development in the Shari'ah Group Islamic Research and Training Institute
Nizam Yacoubi Shari'a Scholar Shari'a Scholar

The expertise in Islamic Finance offered by the Advisory Oversight Committee's members combined with GARP's proficiency in creating globally accepted standards on risk management methodologies will result in a benchmark approach to assessing and measuring the financial risks associated with Sharia'a-compliant financial products.

Who will The Certificate in Risk Management for Islamic Financial Institutions primarily benefit?

 

The Certificate in Risk Management for Islamic Financial Institutions is being developed for those who are pursuing careers in institutions who deal in Sharia'a-compliant financial products and for those staff members in any financial institution who have a need to understand and incorporate Sharia'a approaches and methodologies into their risk management or business strategies.

 


The Certificate in Risk Management for Islamic Financial Institutions will be initially offered in late 2009.  If you would like to be notified as soon as this program is available, then please click here to submit your name to receive the early notification communication.  

 
 
   
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