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The Certificate in Risk Management for Islamic Financial Institutions
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.
