Ethica Brochure

TRAINING AND CERTIFICATION CAPABILITIES
INCLUDING CASE STUDIES:

HOW ETHICA TRANSFORMS LEARNING AT
BANKS AND UNIVERSITIES
BEST TRAINING INSTITUTION
NOMINATION
2009, 2010 & 2011
BEST ISLAMIC FINANCE QUALIFICATION
NOMINATION
2011

Ethica is the worlds most popular
training and certification institute in
Islamic finance.
100% online training, testing, and assessment
100% AAOIFI based standards, the worlds most
accepted Islamic finance standard
100% accredited by leading Islamic finance scholars
3 www.EthicaInstitute.com
Ethica is #1 for Islamic finance training
and certification:
20,000+ paid users
40+ countries
100+ banks and universities

More people choose Ethica for Islamic
finance training and certification than
any other organization in the world*
*Based on independent survey estimates conducted with IFQ, INCEIF, IIBI, CIMA, university programs, and others.
"This is a timely and much
needed development in
the industry. Qualied
human capital is the most
critical need for the
industry to maintain its
growth trajectory across
geographies.
Afaq Khan, CEO,
Standard Chartered -
Saadiq, Dubai
"The best thing about
Ethica Institute is that it
makes AAOIFI standards
accessible to everyone
who is eager to learn."
Liaquat Ali, MBA, CIFE,
Founder,
TrulyInterestFree.com
I have certications in
Islamic nance from 2
different institutesEthica
Institute and somewhere
else. Although both
courses imparted useful
knowledge, it was Ethicas
CIFE that claried my
understanding of the
concepts.
Faiza C, CIFE, Tax
Professional, USA
This is an excellent
initiative that promises to
nally bring Islamic
nance to the masses!
Just as we had begun to
fear that the caravan of
Islamic nance had begun
to go astray, Ethica
Institute of Islamic
Finance appears and
promises to realign its
direction with its ideals.
Yusuf Jha, Shariah
Controller, Abu Dhabi
Islamic Bank, UAE
"I certify that Ethica's
training is fully Shariah
compliant. And I consider
the CIFE to be the
strongest Islamic nance
certication available
online that I have seen."
Tariq Bujasaim, Senior
Shariah Auditor, Dubai
Bank
I have reviewed these
online sessions and I am
very impressed with what I
see.
Professor Walid Hejazi,
Rotman School of
Management, University
of Toronto
I would
unhesitatingly
recommend
Ethica over
anyone else.
Shaykh Faraz
Rabbani, Shariah
Scholar,
StraightWay
Ethical Advisory
Table of Contents
Section Page
About Ethica Institute of Islamic Finance 7
About Ethicas CIFE 8-17
Case Study: Why Mashreq Bank Chose Ethica 18-25
Case Study: How Ethica Globalizes Your Campus 26-33
Competitor Analysis 34-41
Ethicas Training Platform 43
Customized Solutions 44
Time and Cost Estimates 45-46
Advisory Services 47
Face-to-Face Training 48
Ethicas Shariah Standards 49-51
Ethica in the News 52-53
Contacting Ethica 54
About Ethica
Institute of
Islamic
Finance
Ethica Institute of Islamic Finance is
the worlds only accredited institute
delivering Islamic nance training and
certication 100% online. More people
now choose Ethicas 4-month CIFE
(Certied Islamic Finance Executive)
than any other Islamic nance
certicate.
As the most recognized Islamic nance
certier in the world, Ethica was
nominated Best Islamic Finance
Training Institution two years running
(2009 & 2010) by IB&F, the industrys
leading award-granting body and in
2011 we received the award nomination
for Best Islamic Finance
Qualication from the Global Islamic
Finance Awards (GIFA) in the UK:
1. AAOIFI Based: Ethicas CIFE is the
only certicate in the world based on
the highest Shariah standard in the
Islamic nance industry - besides
AAOIFI itself.
2. Scholar Approved: Our world-class
team of bankers and scholars
includes leading names like Sheikh
Yusuf Talal DeLorenzo and Mufti
Zubair Usmani.
3. Banker Tested: Bankers who
execute transactions for a living, not
professors who teach theory, prepare
Ethicas material.
4. Fastest Growing: More bankers
choose Ethicas CIFE than any
other certicate in the Islamic nance
industry.
5. Most Popular: Head-to-head
consumer tests repeatedly show one
thing: Ethicas CIFE sets a new
standard in Islamic nance training
and certication.
About
Ethicas
CIFE
Who Can Become a Certied Islamic
Finance Executive (CIFE)?
Anyone with an interest in training and
certication in standards-based Islamic
nance. There are no prerequisites
necessary in order to enroll because the
material assumes no prior knowledge of
Islamic nance.
What Is Ethicas CIFE?
Ethica Institutes CIFE is a 4 month
training and certication program
consisting of a growing library of 20-
minute training videos containing
exercises, case studies, and quizzes,
followed by an examination.
How Do I Get Ethicas CIFE?
Once users understand the material in
the 22 core modules that comprise the
testable material, they are ready to take
the 90-minute online examination. If they
pass, the Ethica Institute of Islamic
Finance CIFE certicate is delivered
directly to them. Beautifully-designed by
classically-trained Islamic artists,
custom-calligraphered and framed by
hand, each certicate is couriered to our
clients doorstep.
How Long Does It Take To Get
Ethica's CIFE?
Users take the exam as soon as they
know the material. For some that's 3
months, for others it's more: users
choose the pace.
Why Should I Get Ethicas CIFE?
Because a trained and certied
professional brings condence,
purpose, and knowledge to his work.
Where Do I Get Ethicas CIFE?
Training and certication for the CIFE
is conducted 100% online and, as
requested, at the clients site.
When Can I Get Ethicas CIFE?
Enrollment, training, and examination is
open 24-hours a day, 365 days a year.
ISLAMIC FINANCE EDUCATION
The pr|macy of a Fatwa
when accred|t|ng an ls|am|c
f|nance tra|n|ng programme,
and why ls|am|c f|nance
scho|ars, not academ|c and
profess|ona| bod|es, shou|d
cert|fy tra|n|ng programmes
for authent|c|ty
A
Fatwa, or expert legal
opinion of one or
more Islamic scholars,
is the highest level of
accreditation granted to a transaction,
product, or institution in Islamic
always gone hand in hand. Or perhaps it
is the Islamic finance industrys natural
tendency to replicate the conventional
finance industry, and thereby errantly
impose upon the Islamic educational
paradigm a western educators sensibility.
Whatever the origins of this mistake,
Islamic finance is ultimately about
Islam. And in Islam, accreditation is not
about the sanctity of a particular hall of
academia or the credentials of a professor;
it is about the Islamic qualification of
the accreditor qualification proper to
a particular Islamic science, in this case
the application of Islamic commercial
law, and qualification proper to the
individual or institution issuing the
opinion, in this case a Fatwa.
After all, it was the Prophet
Muhammad (Allah bless him and give
him peace) who said, Whoever is
given a Fatwa without knowledge, his
sin is but upon the person who gave
him the opinion (Abu Dawud).
1

WHAT DOES STANDARDISED
AND ACCREDITED TRAINING
MEAN IN ISLAMIC FINANCE?
Of the many challenges now facing the
Islamic financial industry, perhaps the
greatest two are:
1. Accreditation by scholars, not
but a few. And yet Islamic finance
training, the very building block of the
industry, is conspicuous in its absence
of standards. This is a root problem for
all practitioners for which almost every
other problem is but a symptom.
acutely in the industrys face-to-face
training sector, where just about anyone
with passable product knowledge
stands before an audience of eager
bankers and waxes lyrical about the
virtues of Islamic finance. Of course,
it would be acceptable if this trainer
merely repeated the positions of those
qualified to speak on the matter.
unqualified trainer, professor, or writer
assigns the role of scholar unto himself,
guessing through an answer here,
issuing a pronouncement there, with
little regard for established industry
standards. Seemingly innocent at first.
But these same audience members then
go out into the marketplace and begin
putting what they learn to practice. If
they remember nothing else from the
trainer, they rarely forget his casual
attitude towards the high standards of
the Shariah, and his ready willingness
to issue his own Fatwas a willingness
they soon adopt. Non-scholar trainers
may convey legal positions, but they
may not create them.
universities, degree programmes,
professional bodies, and accrediting
institutes have a place, no doubt, in
F|gh or F|ct|oo
This article is the first in a two-
part series by Atif R. Khan, Managing
Director of Ethica Institute of Islamic
Finance (www.EthicaInstitute.com)
Copyright 2011. Look out for part II in
next months issue of Islamic Business
&Finance
The Highest Accreditation in
Islamic Finance: Fatwas
from Leading Islamic
Finance Scholars
A number of Islamic finance trainers now work with
guidebooks and other material that is merely authored
by a scholar or supervised by a scholar
Delivery standards in
Islamic finance training
span the spectrum from
excellent to illegal
When training content
is anything less than 100
per cent standardized to
AAOIFI, discrepancies
between learner
knowledge and market
In the Name of Allah, Most Merciful and Compassionate
Ethica Institute of Islamic Finance
Certified Islamic Finance Executive (CIFE)
Certification Accreditation
I hereby certify that I have carefully reviewed each of the Ethica Institute of Islamic Finance
Certified Islamic Finance Executive (CIFE) examination questions and find them to be correct
and in full compliance with the Accounting and Auditing Organization of Islamic Financial
Institutions (AAOIFI) Shariah Standards. I make this external validation and accreditation as a
third-party scholar without compulsion and confirm that I am not compensated additionally for
issuing a positive statement.
I affirm that I have practical and theoretical experience in Islamic finance and have specific
expertise in the Shariah Standards of the Accounting and Auditing Organization of Islamic
Financial Institutions which I believe are the leading standard-setting rulings that pertain to
Islamic financial transactions and Islamic financial institutions.
It is without reservation that I offer my approval of this Certificate Examination. May Allah bless
our Prophet Muhammad and give him peace, and his folk and Companions.
______________________________
Dr. Muhammad Zubair Usmani
Shariah Advisor
______________________________
Witnessed
Atif R. Khan, Managing Director
______________________________
Witnessed
Sameer Hasan, Business Director
Ethicas CIFE Fatwa
Ethicas User Experience
More users prefer Ethica in repeated head-to-head surveys
Flexible Testing and Certification
Ethica offers you the exibility of 3 testing options:
Online Testing: Users test at their chosen location, whether at work or at
home, and Ethica delivers the CIFE examination. The rigor and speed of
our examination ensures limited benet in an open-book, open-assistance
environment.
In-House Testing: You provide the testing facilities, you control the high stakes
assessment environment, and we deliver access to the CIFE examination.
Ethica Institute Testing: We provide the testing facilities, the monitoring and
assessment controls, and access to the CIFE examination.
Ethica Institute of Islamic Finances CIFE is an original work commissioned by Ethica.
Beautifully-designed by classically-trained Islamic artists, custom calligraphered and framed by
hand, each certificate is couriered to our clients doorstep.
Newcomer to
Advanced in
Just 4
Months
Certificate Level Accreditation Objective Modules Prerequisite Duration
CIFE I Our most popular
certicate: rapidly train
all your teams in the
essentials of Islamic
nance in just 4 months
22 None 4
months
Advanced
CIFE in
Banking
II Deliver practical
banking knowledge for
immediate application
or cross-selling across
the bank
31 CIFE 4
months
Advanced
CIFE in
Accounting
III Convey essential
knowledge of Islamic
accounting, covering
the latest AAOIFI
standards
27 CIFE 4
months
Advanced
CIFE in
Sukuk
III The most advanced
certicate in Islamic
nance capital markets,
going through the
products and the case
studies that shape
todays Sukuk market
25 CIFE 4
months
CIFE
Level I
22 Modules
Understanding Islamic Finance
Why Islamic Finance?
Understanding Ijarah I - Islamic Leasing
Understanding Ijarah II And Quiz
Understanding Mudarabah I - Islamic

Investment
Understanding Mudarabah II
Understanding Mudarabah III And Quiz
Understanding Murabaha I - Cost Plus

Financing
Understanding Murabaha II
Understanding Murabaha III And Quiz
Understanding Musharakah I - Partnerships
Understanding Musharakah II
Understanding Musharakah III And Quiz
Understanding Salam And Istisna I - Forward

Sales And Manufacturing Contracts
Understanding Salam And Istisna II
Understanding Salam And Istisna III And Quiz
Understanding Sukuk I - Islamic

Securitization
Understanding Sukuk II And Quiz
Understanding Islamic Insurance And Quiz

Islamic Financial Innovation
Liquidity Management I
Liquidity Management II And Quiz
Risk Management I
Risk Management II And Quiz

The course was amazing. I
thoroughly enjoyed learning about
Islamic nance and look forward to
enrolling in more advanced courses
with Ethica in the near future.
Nivita Pande
Investment Analyst
Abu Dhabi
Advanced
CIFE in
Banking
Level II
31 Modules

Investment

Financing


Securitization

At The Bank: How To Perform Calculations
How To Calculate An Ijarah Schedule I
How To Calculate An Ijarah Schedule II And

Quiz
How To Calculate Diminishing Musharakah

Schedule And Quiz
How To Structure Mudarabah Deposit

Accounts I
How To Structure Mudarabah Deposit

Accounts II And Quiz
How To Perform Murabaha Calculations And

Quiz
Asset Pool Management In Islamic Finance I
Asset Pool Management In Islamic Finance II

And Quiz
Prot Calculation Framework For Deposit

Accounts
Risk Management I

Advanced
CIFE in
Accounting
Level III
27 Modules

Investment

Financing


Securitization

Islamic Accounting Standards
Understanding Islamic Accounting I
Understanding Islamic Accounting II
Understanding Islamic Accounting III
Understanding Islamic Accounting IV
Understanding Islamic Accounting V
Understanding Islamic Accounting VI
Understanding Islamic Accounting VII
Understanding Islamic Accounting VIII
Understanding Islamic Accounting IX And

Quiz
Advanced
CIFE in
Sukuk
Level III
25 Modules

Investment

Financing


Securitization

Case Studies: In The Real World
Sukuk Case Study I: How To Prepare Sukuk

Documentation
Sukuk Case Study II: The Nakheel

Development Sukuk And The Aldar Properties
Sukuk
Sukuk Case Study III And Quiz: Comparing

An AAOIFI-Compliant Sukuk With A Non
AAOIFI-Compliant Sukuk
Risk Management I

Case Study:
Why Mashreq Bank Chose Ethica For
Bank-Wide E-Learning
We upgraded to twice as many users
after only 6 months with Ethica.
Moinuddin Malim, CEO, Mashreq Al Islami
We foresee unlimited
opportunities for learning
and growth with Ethica.
Their e-learning solution
combines the three things
that we were looking for:
scalability, quality, and
industry Shariah
standards. Ethica
provided us with the
exibility to train as many
or as few bankers as we
wanted throughout the
year.
Moinuddin Malim
CEO, Mashreq Al Islami
With Ethica we are able
to impart the basic
understanding of Islamic
banking to our bankers in
just 4 months with a
certication examination
to prove their learning.
Ethica now makes my
job easy: weekly reports,
quiz and exam scores,
and 24/7 tracking. All at
my desk.
Sameera Khan, Learning
and Development
Consultant,
Mashreq Bank

Rapid e-learning is the
wave of the future.
Ethica's e-learning
brings engaging content
and appealing design.
Yuvakumar Ramchander,
Head, Mashreq Learning
Systems, Mashreq Bank
My favorite part of the
day is learning Islamic
nance online with Ethica
Institute.
Mashreq Banker
Finally, AAOIFI based
industry training at my
desk!
Mashreq Banker
The case studies,
quizzes, diagrams, and
overall design really keep
me engaged. And
because training videos
come in 20 minute
chunks, I can t training
into my schedule any time
I want.
Mashreq Banker
What
Mashreq Is
Saying

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Mashreqs
Challenges,
Ethicas
Solutions
How do we train hundreds of bankers across hundreds of
branches?
Ethica offers Mashreq the only 100% online solution in Islamic
finance.
How do we deliver training that conforms to the banks Shariah
standards?
Ethica offers Mashreq the only e-learning solution conforming to
AAOIFI, the most widely accepted Shariah standard in the world.
How do we make e-learning interesting?
Ethica delivers Mashreq with interactive case studies, practical
exercises, and quizzes, keeping bankers engaged throughout.
How do we stop wasting money on face-to-face crash courses?
Ethica reduces Mashreqs per employee training cost by upto $3,000
per employee per year.
How do we stop wasting time trying to develop our own e-
learning?
Ethica saves Mashreq over 20,000 man hours in training and
development.

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5 Reasons
Why Mashreq
Upgraded
After Only 6
Months
1. Return-on-Investment: Mashreq increases return on investment with
knowledge process outsourcing (KPO) with a more motivated and
knowledgeable workforce trained at a fraction of the cost.
2. 100% Online: Mashreqs bankers are scattered in numerous
locations, so they were excited that Ethicas e-learning solution,
complete with training, testing, and certification, could be delivered
100% online.
3. Flexibility: Mashreq enjoys the flexibility of Ethicas train-them-
when-you-want approach.
4. Standardized: Mashreqs bankers and scholars saw eye-to-eye on
Ethicas AAOIFI-based standards, the most widely accepted Islamic
finance standards in the world.
5. Assessment Dashboard: Module tracking, user activity, quiz and
examination assessment, and certification delivery. All handled
without ever leaving Mashreq.

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Ethica
Empowers
Mashreqs
HR
Are you caught between using
expensive external classroom trainers
and trying to develop in-house e-
learning solutions? Ethica is your
solution to all Islamic nance
knowledge process outsourcing
(KPO) challenges. We take care of all
your end-to-end training needs at a
fraction of the cost of hiring external
trainers or developing your own
training material.

Ethicas e-learning allows you to:
Cost-effectively transfer maximum

knowledge in minimum time
Use one solution for all your

training needs
Rapidly deliver engaging, self-

paced learning
Administer formal assessments

and gauge the effectiveness of
courses
Customize and manage all facets

of online training
Leverage your existing

infrastructure
"But My Manager Says..."
Do Ethicas Shariah standards
conflict with our bank's Shariah
standards?
We designed our training material

to be detailed enough to be
practical, and general enough to
be useful to individual banks that
have their own policies and
practices. We follow internationally
recognized standards already
followed by the majority of the
industry.

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Ethica now makes
my job easy: weekly
reports, quiz and exam
scores, and 24/7
tracking. All at my
desk.
Sameera Khan
Learning and Development
Consultant, Mashreq Bank
Does Ethica's training
cannibalize HR functions? If
everything is done on computers,
what happens to internal trainers?
Internal trainers are indispensable

to Ethica: conduct bank-wide,
CIFE training online at Ethica;
then deliver blended, high-level
training face-to-face with HR and
training professionals. Without
internal trainers, "blended" training
never happens. With Ethica, HR
and training managers become
even more important.
Won't we save money by
developing our own training?
Knowledge process outsourcing,

or KPO, is one of the fastest
growing sectors of the banking
industry because it saves banks
money. At Ethica, training 500
staff costs $395 per trainee per
year; and training 1,000 staff costs
$235 per trainee per year.
Ethicas Dashboard:
Empowering Managers
Weekly snapshots for quick

previews
Drill-down reports for detailed

tracking
Schedule CIFE examinations for

controlled testing and monitoring
CIFE examination reports
Advanced search (including user,

training module and/or date range)
WYSIWYG: What you see on the

screen is what you Print or Save
as Excel

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A Day At
Mashreq
Bank
8:58 AM
Meeting with capital markets team to discuss Sukuk strategy for the
week
10:49 AM
At EthicaInstitute.com reviewing Sukuk Case Study Nakheel
Development Sukuk And Aldar Properties Sukuk
1:34 PM
At Emirates Towers Lunch with Legal Counsel to discuss Ijarah Sukuk
documentation
4:01 PM
At EthicaInstitute.com Spend 20 minutes going through Ijarah
documentation module; Score 95% on the Quiz
4:33 PM
Updating senior management on Sukuk structuring progress
6:07 PM
On my Blackberry reading Q&As on Sukuk at EthicaInstitute.com

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The Case For
E-Learning:
Less Cost,
More
Learning

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1. Travel costs = zero
In tough times, employee travel gets slashed
rst. And not just air travel, but also time
spent travelling locally to training centers.
Dow Chemical reduced average spending of
$95 per learner per course on classroom
training to only $11 per learner per course
with e-learning, saving them $34 million.
2. Marginal cost of delivery = zero
The cost of e-learning is all in the production.
Theres no marginal cost of delivery rolling
out e-learning to 100 or 10,000 learners costs
the same. No classrooms, no additional
trainer costs, no lunches, and no binders.
3. Management and HR have more
visibility on learning
With e-learning tracking and assessment, you
have total visibility on what your learners are
doing. When, where, and how often they
access the training, how well they score, and
how quickly they get certiedall easily
measurable for maximum ROI.
4. Learner time is better spent
E-learning is generally shorter than classroom
training on the same subject by up to 25-60%
(Brandon Hall, Rosenberg 2001). Time is
compressed in e-learning, since you do not
have the logistics that come with classroom
instruction: welcomes, introductions, delivery,
and breaks. Since the biggest cost of any
training is learner time spent in training, this
makes a big difference to the bottom line.
Ernst & Young cut training costs 35% while
improving consistency and scalability by
condensing 2,900 hours of classroom training
into 1400 hours of blended e-learning.
5. It gives learners more control
E-learning is accessed on demand, giving
your learners control over their time. Learners
can access the material on the move or from
home so can use down time productively.
Repeating and reviewing complex material
can be better accomplished with the click of
a button rather than scheduling meetings and
conference calls with live instructors, which
may or may not even happen.
(Source: Kineo 2008)
Case Study:
How Ethica Globalizes Your Campus
With Ethica, our Islamic finance
program now extends far beyond our
physical campus.
Ishaq Bhatti, Associate Professor, La Trobe University
For the rst time ever,
we now tap into the
tremendous demand for
Islamic nance from
students all over the
world.
Ishaq Bhatti
Associate Professor
La Trobe University
We just nished the
Islamic nance
professional
development (IFPD)
course, the rst of its
kind in Australia. IFPD
blends online modules
from Ethica with on
campus class lectures.
Ethicas training
videos were very rich
and practical. They
engaged students and
enhanced the University
learning experience. The
research projects
submitted by students
indicate that they
grasped the fundamental
concepts very well.
Ethica is a great
business partner, prompt
and professional at all
times.
Almir Colan
Program Coordinator
La Trobe University
This course is primarily
aimed at providing high
quality training to cater
for the growing need of
the industry. It provides
academic and industry
knowledge of the
products within the
Islamic nance and
banking industry in
Australia and overseas.
It is thus highly
appropriate that La
Trobe University is
leading the way in the
development of
programs such as the
one we are launching
today.
Professor Paul
Johnson Vice-
Chancellor
La Trobe University
What
La Trobe
University Is
Saying

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...La Trobe University
teams up with Dubais
Ethica Institute, a world
leader in Islamic finance
training...
Deliver
E-Learning In
3 Easy Steps

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We:
Create Your Branded Login Page
You:
Deliver E-Learning to Your Students
You:
Send Student Details to Ethica

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Course Content
The course will cover the key principles
underlying Islamic nance: Modes of
Islamic nance such as Islamic leasing
(Ijarah); Islamic investment (Mudarabah);
Cost-Plus Financing (Murabaha):
Partnerships (Musharakah); Islamic Forward
Selling and Manufacturing Contracts
(Salam and Istisna), and; Islamic
Securitisation (Sukuk). Other topics
include: Global Development of Islamic
Finance; Challenges for Islamic Financial
Providers; Opportunities in Australia
(Government policies and tax reforms);
Islamic Capital Markets; Islamic Insurance
(Takaful) and Islamic Banking Products.
Accreditation And Certication
The course, subject to approval, is
accredited to the related masters programs
at La Trobe University. Upon successful
completion of the program, students will
receive IFPD certicate from La Trobe
University as well as a CIFE (Certied
Islamic Finance Executive),certicate from
the Ethica Institute of Islamic Finance.
The CIFE component relates to the online
modules offered by Ethica. The course will
comprise of up-to-date practical
knowledge designed to conform to the
internationally acclaimed AAOIFI
(Accounting and Auditing Organisation for
Islamic Financial Institutions) standards.
Course Structure And Delivery
The course will include on-line modules,
class activities and a research project that
could potentially be adopted by nancial
institutions. The idea behind the research
project is to encourage students and
professionals to take on projects that are
practical and relevant to their individual
interests and expertise.
How La Trobe Delivered The IFPD

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How La Trobe Delivered The IFPD (cont.)
Lectures And Modules
1. Complete rst set of online modules
towards Ethicas CIFE certicate. This
is done in order to prepare students for
the face-to-face intensive course and to
enable constructive discussions with the
class and instructor.
2. Two days intensive course for local
students (conductedat Melbourne
Campus) and online for students
abroad.
3. Complete second set of online modules
for Ethicas CIFE certicate.
4. One-on-one research project
consultation (by appointment).
Who can enroll?
This course is available for local and
international students who want to enhance
their understanding of Islamic banking and
nance, enter the eld or further their
employment opportunities.
No prior knowledge or qualications are
necessary.
Assessment
1. Certied Islamic Finance Executive
(CIFE) Examination: 90 minute online
exam with 112 multiple choice questions
covering the "Understanding Islamic
Finance" (18) and the "Islamic Financial
Innovation" (4) modules.
2. Major project: A minimum of 2000 word
essay to be approved by the course
coordinator/director.
Course Duration
6 weeks
FAQ For
Universities

C
A
S
E

S
T
U
D
Y
Our university offers a Degree/Diploma/
MBA in Finance. Will inclusion of Islamic
banking be an appropriate move?
This would be a very positive development
for your university. Repeatedly universities
have seen a dramatic increase in interest
(and enrollment) when they announce a
new Islamic nance program. It is on the
headlines for weeks. The bottleneck is
nding the right content to deliver the
Islamic nance know-how. We hope that
with Ethica those days are over.
What form does Ethicas program
take?
All online or blended. We are the only
accredited Islamic nance program that
delivers training and certication 100%
online with the exibility to add face-to-face
training and testing conducted by you or
us.
How long is it?
The program can be compressed into as
little as 1 month or as much as 6 months.
We designed the program to be exible for
universities to absorb Ethicas training
within their own program. The CIFE
(Certied Islamic Finance Program) is a
4-month training and certication program,
designed to conveniently t into a standard
semester-based or executive training
program. One must understand the 22
modules in the program before taking the
exam so it is self-paced. We also have
dozens of modules that are part of our
Advanced CIFE certicates in Banking,
Accounting, and Sukuk.
How many contact hours?
The CIFE consists of 22 modules x 20
minutes, plus about 1 hour per module of
self-study. We have dozens of modules that
we are launching as part of our Advanced
CIFE certicates later this year. One
module consists of an approximately 20
minute training video comprising a variety
of exercises, case studies, and quizzes,
along which the student is expected to
conduct his or her own self-study.
Experience with hundreds of other learners
FAQ For
Universities
(cont.)

C
A
S
E

S
T
U
D
Y
shows that the CIFE program is
comfortably manageable in about 1 to 3
months of training and about 1 month or
less of studying for the examination,
enabling most users to complete the
program in less than the 4 month access
period.
Are the courses academic in content or
practical?
We keep the content practical and add just
enough theory to provide newcomers with
a meaningful starting point. In terms of our
standards, we follow the most widely
followed Islamic nance standard in the
world, AAOIFI (Accounting and Auditing
Organization for Islamic Financial
Institutions), and to our knowledge we are
the only institute in the world to offer 100%
AAOIFI-based training and certication.
What entry qualications should
students have?
Ethicas program targets anyone with
limited to no understanding of nance, and
certainly anyone with no prior exposure to
Islamic nance. Ethicas CIFE graduates
include non-nance majors, non-Muslims,
and non-bankers. We designed the
program to be comprehensible to
newcomers but accelerated enough to get
learners up to speed in a short period of
time.
Do students have to have an in-depth
knowledge of Sharia law?
No.
Is it possible to turn Ethicas online
program into 4 x 14 week courses thus
giving a Certicate in Islamic Banking as
part of the Finance Diploma/Degree/
MBA we currently offer?
We are open to co-branding and would be
happy to support you on a Certicate in
Islamic Banking.

Competitor Analysis
Why Ethica?

5 Simple
Reasons
Weve been there
We are the first and only institute in the world to successfully deliver bank-wide Islamic
finance e-learning. Why take chances with anyone else?
#1 in popularity
Ethica is chosen by more people than any other organization in the world for Islamic
finance certification based on independent survey estimates conducted with IFQ,
INCEIF, IIBI, CIMA, university programs, and others.
100% online, anytime, anywhere
We offer the only 100% online Islamic finance program in the world. Case studies,
exercises, quizzes, exams: everything is online so you are in complete control of your
staffs training with Ethicas Dashboard. And best of all: no more waiting for
guidebooks in the mail.
#1 in customer satisfaction: 99.9% customer retention
Ethicas CIFE program consistently ranks #1 in customer satisfaction. Period. Play a
training module right now and compare for yourself. Try our free 7 day trial and
compare our engaging, beautifully-designed modules with our competitors.
AAOIFI standards vs. Because we say so standards
We offer the only certificate in the world standardized to AAOIFI standards besides
AAOIFI itself the most widely accepted Islamic finance standard in the world. Our
competitors will occasionally offer their own version of what they consider to be
Shariah-compliant, but we adhere to a known standard acceptable to everyone.
Ask Yourself
7 Questions
1. Is the certicate recognized?
Ethicas CIFE is accredited by leading
Islamic nance scholars and bankers
earning us the award nomination for
Best Islamic Finance Training
Institute (2 years running) from Islamic
Business and Finance magazine in Dubai
and the award nomination for Best
Islamic Finance Qualication from
Global Islamic Finance Awards in the UK.
2. Is the certicate standardized?
Ethicas CIFE is the only third-party
certicate in the world to conform to the
industrys most widely-accepted
standard.
3. Is the certicate up-to-date?
Workbooks, CDs, and distance-learning
courses grow old fast. Can you really be
sure that your 3-year old workbook or
last year's CD is up-to-date? With
Ethicas CIFE, when Islamic nance
innovates, our online content innovates
right there with it. So you can be sure
that you're never left behind.

4. Is the certicate prepared by
professors or bankers?
Ethicas CIFE is rigorously prepared by
a team of bankers and scholars, not
professors. Ethica gets you from theory
to advanced practical knowledge faster
than anyone else in the market.
5. What happens after certication?
At other institutes you may never have
spoken to the trainer 1-on-1. Or received
counseling. Or shared your concerns.
Ethicas 1-on-1 Career Counseling
helps guide your Islamic nance career.
And Ethicas Recruiter Database gets
you access to hundreds of industry
contacts.
6. Can we afford your certicate?
Our individual, group and corporate rates
are designed to rapidly and cost-
effectively train and certify users in less
than 4 months at rates lower than or
comparable to our competitors.
7. Where is the institute based?
According to Forbes Magazine, Dubai
holds the title of Islamic nance hub.
Anywhere else is just a compromise.
Islamic nance trainers need to be where
the action is. It is one thing to read about
deals sitting far away, and quite another
to be working with bankers and scholars
who execute transactions for a living.
Ethica is #1
in Customer
Service
99.9%
Customer Retention
IT Systems: Running on Rackspace, the Worlds #1 Hosting Provider, Around-the-Clock
With nine data centers around the world, Rackspace Fanatical Support and Cisco powered
networks guaranteeing 100% network uptime, Rackspace is the obvious choice for Ethica. And
downtime is attended to within seconds and triggers immediate contact with Ethica support staff,
24 hours a day, 365 days a year.
Operations and Customer Care: Rapid Responsiveness
Ethicas team of operations, technical, and administrative support staff respond to client queries,
comments, and suggestions within 24 hours, 365 days a year. No ifs, ands, or buts. We begin
working on your request right away and, depending on the level of complexity, achieve rapid
resolution to your satisfaction. To date, we have a 99.904% customer retention record.
Management: Caring, Personalized Service
Ethicas senior management responds to client queries, comments, and suggestions within 24
hours on every business day of the year. Most requests are responded to on or before deadline and
call-in and meeting opportunities are available on short notice.
Shariah Advisory: World-Class Scholars
Ethicas team of scholars and subject matter experts respond to advisory requests in priority time,
with most Islamic finance questions answered within 3 to 5 days, and most advisory requests,
including product approvals, responded to in days or weeks. We endeavor to always respond in
less time than has now become acceptable within the Islamic finance industry.
Editorial
Ethicas 100% online platform gives us a clear advantage over guidebook and email based
distance programs. We respond to client queries within 24 hours, depending on the degree of
complexity, and as a one-stop subject matter company, offer vertical customized solutions at the
best rates.
Rates and
Volume
Discounts
Number of Users Rate/User Discount Access Period
1 $1,495 -
4 Month Access for
Individuals and
Small Groups
2 to 7 $1,295 -13%
4 Month Access for
Individuals and
Small Groups
8 to 19 $1,095 -27%
4 Month Access for
Individuals and
Small Groups
20 to 39 $995 -33%
4 Month Access for
Individuals and
Small Groups
40 to 69 $895 -40%
1 Year Access for
Corporates
70 to 99 $745 -50%
1 Year Access for
Corporates
100 to 299 $595 -60%
1 Year Access for
Corporates
300 to 599 $395 -74%
1 Year Access for
Corporates
600 to 999 $295 -80%
1 Year Access for
Corporates
1,000 to 1,499 $235 -84%
1 Year Access for
Corporates
1,500 to 2,000 $199 -87%
1 Year Access for
Corporates
30 Day Risk-Free Satisfaction Guarantee
Ethica is
#1 in Cost
Savings
Large Bank: I want to certify 1,000 customer-facing bankers.
Your Most Cost-Effective Choice: 1-Year Corporate License
What You Get (With No Hidden Charges):
The CIFE, framed, and delivered to all successful candidates
Unlimited access to all premium content for 1 year
Weekly employee progress reports
Total Cost: $235,000/year
Total Cost Per Employee: $235/year
University: I want to create a semester course for 30 students.
Your Most Cost-Effective Choice: 4-Month Academic License
Unlimited access to all premium content for 4 months
Total Cost: $29,850/semester
Total Cost Per Student: $995/semester
Medium-Sized Bank: I want to train and certify 300 bankers.
Your Most Cost-Effective Choice: 1-Year Corporate License
Unlimited access to all premium content for 1 year
Weekly employee progress reports
Total Cost: $118,500/year
Total Cost Per Employee: $395/year
Certification Cost
100%
Online?
100%
AAOIFI-
Based
Scholar
Fatwa
Courses Certification
Ethica CIFE $1,495 Yes Yes Yes 19 1 CIFE
+ 3 Advanced
CIFE
IIBI (Institute of
Islamic Banking
and Insurance)
$1,890 No
(Distance
learning)
No No 6 1 Diploma
INCEIF
(International
Centre for
Education in
Islamic Finance)
$6,850 No
(Classroom-
based
delivery)
No No 17 1 CIFP
CIMA
(Chartered
Institute of
Management
Accountants)
$2,300 No
(Distance
learning)
No No 4 1 Cert IF
IFQ (Islamic
Finance
Qualication)
$1,320 No
(Distance
learning)
No No 9 1 IFQ
AIMS (Academy
for International
Modern Studies)
$1,000 No
(Distance
learning)
No No 5 1 CIFE
Shape Financial $5,505 No
(Classroom
and Online)
No No 12 1 CIFA
Competitive Analysis
Ethica vs.
Distance
Courses
Ethica offers the only 100% online program in Islamic finance. Anything less
than 100% online is going to cost more, take longer, and deliver less. Our
competitors offer:
Distance Courses (80-90% online) Sometimes called online, these are

not online programs but rather correspondence courses. They are email-
based, telephone-based, and rely heavily on guidebooks received through
postal delivery. Their greatest drawback is the difculty of scaling such
programs across large organizations while keeping the Islamic nance
content up-to-date with the industry.
CDs (0% online) Compact discs run on desktops for computer-based

training. The major drawback with CDs is that there is no certication
process without an expensive testing process, there is no online
connectivity with the vendor, and upgrades to content require purchasing
new CDs.
Classroom Delivery (0% online) Expensive, time-consuming, and in many

ways less effective than e-learning in imparting knowledge, classroom-
based training is simply outdated when compared with online programs for
rapid information transfer.
Inside Ethica
The Most
Powerful
Training Engine
In Islamic
Finance
The Power of a Proprietary LMS
Ethicas proprietary Learning
Management System (LMS) is the
product of a concerted 3-year, $1
million effort designed to give clients
greater power and freedom to
manage their internal training needs.
An off-the-shelf solution, while less
expensive, lacks the customization
offered by a proprietary system.
360 Degree Reporting and High-
Stakes Testing and Certication
We offer corporate license members
the ability to track every users
training module, quiz, and
certication exam. This means that
we can tell how much time a user
spends on each module, quiz, or
exam, the number of times he or she
accesses it, and the date and time it
was accessed. Our reporting engine
allows you to generate reports based
on start date, end date, member ID,
and module. We also enable
corporate license members to
customize pre-scheduled certication
exams, restrict testing to a given
location, and, if requested, allow or
deny multiple attempts for the
certication exam.
Open Learning Paths
Years of experience training a wide
variety of banks teaches us that
bankers bring a broad cross-section
of experience levels and training
needs. For example, a Risk Manager
may already understand Mudarabah
Deposit Accounts, and needs to skip
directly to Risk Management, rather
than be forced to learn at the same
pace as a Relationship Manager new
to Islamic nance.
Customized
Solutions
Ethica specializes in customized white label solutions for corporate clients.
As a one-stop content production, approval, and delivery training institute,
our clients leverage a depth of in-house experience unmatched in the
industry.
Your brand name. Our training content. It's that simple. Risk free, cost-
effective, and a gateway to an entirely new global delivery channel through
the Internet.
Customized Training Modules
We bring extensive experience in creating customized solutions for banks,
universities, and media organizations. The client has the option to provide
Ethica with the basic content or not and we create the customized learning
platform, complete with training modules, examinations, specialized learning
tracks, and branded certications.
Time and
Cost
Estimates
How Long Does it Take to Create E-Learning?
Ethica offers vertically integrated customized learning solutions. We take care of
the content creation, production, design, delivery, and testing phases to offer you a
complete outsourced solution. Based on industry standards (Source: Brandon Hall
Research), and upgraded and streamlined due to Ethicas advanced in-house
capabilities, we estimate the following benchmarks:

Phase
Estimated
Duration Per
Module
Estimated
Cost Per
Module
Content Creation: Researching, writing, and editing
scripts for learning delivery
30 hours
$9,950
Module Production: Recording, post-production
editing, and synchronizing with visual content
15 hours
$9,950
Module Design: Creating layouts, moving objects,
visual prompts, and all design-related content
15 hours
$9,950
Module Delivery: Integrating raw content into a
learning management system
5 hours
$9,950
Testing: Conducting tests with client side systems to
ensure effective delivery
5 hours
$9,950
Sample quote based on 10 customized 20 minute modules requiring 700
man hours of work (87.5 man days at 8 hours/day, or 2 to 3 months for
project team): $99,500
Time and
Cost
Estimates
(cont.)
Ethicas Customization Team consists of:
Instructional Designer
Ethicas instructional designer works collaboratively with the subject matter expert
and the editorial team to deliver objectives, activities, sequencing, and evaluation
methods in order to meet the goal of the instruction.
Subject Matter Expert (SME)
Ethicas subject matter expert is an Islamic nance banker, scholar, or lawyer who
brings practical execution experience to the instructional design process.
Graphic Designer
Ethicas designers develop industry best-practices interface design for an optimal
user experience. This process includes page layouts, graphics, colors, and media
to support the instructional objectives.
Editorial Team
Ethicas editorial team works closely with the SME to ensure effective lucidity,
layout, usability, and style guidelines.
Management
The company and project management work closely with the client to ensure on-
target iterative deliverables and on-deadline testing and launch dates. These
individuals regularly liaise with the client to ensure that ongoing objectives are
being met.
Advisory
Services
Ethica offers Shariah advisory
services in three areas:
Shariah Reviews: Ethica
conducts annual and quarterly
product and transactional reviews
for Shariah compliance.
Shariah Approvals: Ethica
approves and certies products
and transactions for Shariah
accordance with AAOIFI and IFSB
standards.
Shariah Documentation: Ethica
creates new documentation or
restructures existing
documentation for Shariah
compliance.

Mufti Zubair Usmani is one of the
worlds most reliable Islamic nance
scholars and works with Ethica on
Islamic nance advisory assignments,
leveraging over 20 years of practical
fatwa experience in commercial law.
Face-to-Face
Training
Ethicas CIFE is also offered as a face-
to-face program designed to take
complete newcomers to an advanced-level
of understanding in Islamic nance. We
offer 1 to 10 day blended learning
programs, conducted face-to-face and
supplemented by Ethicas online CIFE
program.
Face-to-face training includes:
Classroom Delivery: 1 to 10 days of

face-to-face training at Ethicas facilities
or on-site at the clients premises.
Online Delivery: Access to all of

Ethicas premium training modules 24-
hours a day for 2 months.
Practical Knowledge: In-depth

practical knowledge of the underlying
product structures used in Islamic
nance.
CIFE Certication: Ethicas training

material is overseen and approved by
leading Islamic nance scholars.
Ethicas scholars certify that the CIFE
examination conform to AAOIFIs
Shariah standards
Train-the-Trainer:
Personalized Instruction: We conduct

both 1-on-1 and small classroom
instruction in order to train your trainers.
Premium CIFE Certication and

Hotline Access: In addition to
classroom delivery and CIFE
certication, your trainer gets Ethica
Hotline Access, with an opportunity
to speak to an Ethica subject matter
expert regularly throughout the year.
Ethicas
Shariah
Standards
Shaykh Yusuf Talal DeLorenzo is one of
the worlds leading Islamic nance scholars
and serves in an advisory capacity at Ethica
Institute. Based in Dubai, he also serves as a
Shariah advisor to dozens of international
nancial entities, including index providers,
institutional investors, home nance providers,
international investment banks and a variety of
asset managers. Shaykh Yusuf is a member of
Shariah Board of the Accounting and Auditing
Organization of Islamic Financial Institutions
(AAOIFI), Council of Scholars, and ISRA. He is
the author of the three volume Compendium of
Legal Opinions on the Operations of Islamic
Banks, the rst English and Arabic reference on
the fatwas issued by Shariah boards. In
addition, Shaykh Yusuf wrote the introduction
to Islamic Bonds, the book that introduced
Sukuk and transformed the world's Islamic
capital markets. His work has appeared in
academic and industry journals and as
chapters in books, including Euromoney's
Islamic Asset Management, Islamic Retail
Finance, and Islamic Finance: Innovation &
Growth. His entries on the terminology of
Islamic nance appear in the Oxford Dictionary
of Islam. Shaykh Yusuf was a special
consultant to the Asian Development Bank and
the Islamic Development Bank on their joint
project for the Islamic Financial Services Board
(IFSB). He served as Advisor on Islamic
Education to the President of Pakistan from
1981-1984. His career has been noted in the
Financial Times, New York Times, Fortune,
Forbes, US News and World Report,
Newsweek, CNBC, Conde Nast Portfolio,
Middle East Banker, and others. His 30 year
career was featured in an August 2007 front
page story in the Wall Street Journal.
Dr. Muhammad Zubair Usmani (Mufti)
is a Shariah Consultant at Ethica Institute
where he reviews and approves our
certication and handles training and
consultancy work on a case-by-case basis. As
one of the world's leading Islamic nance
Ethicas
Shariah
Standards
(cont.)
scholars and a noted expert on AAOIFI Shariah
Standards, he also serves as a Shariah Advisor
at Muslim Commercial Bank, Pak-Qatar
Takaful, and ICAP's Accounting Committee
where he oversees the development, execution
and compliance of Islamic banking products.
He is increasingly involved with a variety of
sukuk and private equity related forums around
the world and is an active trainer in all areas of
Islamic nance. He is a regular featured
speaker at the National Institute for Banking
and Finance, Jamia Darul Uloom, and the
Centre for Islamic Economics, and is an
internationally recognized scholar in Islamic
nance. He holds the Alamiyyah and Takhassus
from Jamia Darul Uloom.
Tariq Bujasaim is a Shariah Consultant at
Ethica Institute. He worked as a Senior
Shariah Auditor at Dubai Bank where he
worked with leading Islamic nance scholars
administering and implementing expert legal
opinions according to AAOIFI Shariah
Standards. He also provided introductory
training in Islamic nance to new employees at
Dubai Bank. Tariq is involved with developing
Ethica's material from both a legal
perspective as well as a pedagogical one. He
has a degree in Islamic Studies from the
College of Shariah and Islamic Studies at the
University of Sharjah and a Bachelor's from
Stanford University.
Yusuf Jha is a Chartered Sharia Auditor and
Advisor formally certied by AAOIFI
(Accounting and Auditing Organization for
Islamic Financial Institutions) and currently
works for a major Islamic Bank in the GCC as
Senior Sharia Controller. Alongside his daily
tasks of consultancy and auditing he often
presents products and ideas to his Sharia
Board, which includes Mufti Taqi Usmani,
Chairman of AAOIFI. Prior to his current role,
he worked for BMB Islamic and Dar Al Istithmar
in London. A graduate from the University of
Ethicas
Shariah
Standards
(cont.)
Birmingham, UK, he also worked as a
Corporate Trainer and Systems Analyst at
Accenture. He has received formal training in
Islamic wills and inheritance tax and
investment planning in the UK; and is qualied
as a UK Chartered Independent Financial
Advisor (IFA).
Atif R. Khan is Managing Director at Ethica
Institute. Previously he was Director of
Islamic Finance at BankT&D. In addition to
working closely with Islamic nancial
institutions on product development, Atif
studied the Shariah sciences for ve years in
Pakistan, the last years of which were spent
one-on-one with some of the world's leading
Islamic nance bankers and scholars. His
earlier conventional nance experience
includes investment banking at Morgan Stanley
in New York and London, executing over $3
billion in transactions in several departments,
including mergers and acquisitions, corporate
nance, equity capital markets, and debt
capital markets. He went on to become Chief
Financial Ofcer of Iprox Limited in London
before pursuing his studies in Islamic nance.
Atif earned a Bachelor's summa cum laude
from the University of Massachusetts, Amherst
and a Master's from Harvard University.
Accounting and Auditing Organization
for Islamic Financial Institutions
(AAOIFI) All certications, examinations,
training videos, quizzes, and Q&As at Ethica
Institute of Islamic Finance are based on
AAOIFI's latest Shariah Standards. AAOIFI is
the world's leading standard-setting body for
Islamic nance and are chosen by many of the
major nancial centres of the world. We are
independent of AAOIFI and promote their
standards in order to foster greater Shariah
convergence and increased clarity among
nancial institutions who wish to better manage
their product development and Shariah teams.
Ethica in
Recent News
Islamic Finance Heads Down Under: Australia Launches its First Islamic Finance E-Learning
Program
DUBAI, UAE December 6, 2010: Today the leader in Islamic finance training and certification, Ethica,
announced the launch of a new Islamic finance for-credit course at one of Australia's leading universities.
This will be the first time ever that a 100% online course in Islamic finance is offered as part of an on-
campus course. Enrolment for the award-winning Master of Islamic Banking and Finance (MIBF) program
is now open and online classes begin next month on January 10, 2011.
Ethica Institute Makes History at Mashreq Bank: Delivers First Bank-Wide Islamic Finance E-
Learning
DUBAI, UAE November 2, 2010: Islamic finance just got one step closer to addressing its biggest
problem: a lack of qualified bankers and scholars. Today, the UAE's largest private bank, Mashreq Bank,
rolled out the first ever bank-wide Islamic finance e-learning solution at its Islamic banking division,
Mashreq Al Islami. Hiring Ethica, the Islamic finance e-learning institute, brings Mashreq 100% online
Islamic finance training and certification across their entire network of branches.
Ethica and Zawya Announce Partnership
DUBAI, UAE September 21, 2010: Ethica Institute of Islamic Finance and Zawya today announced a
partnership to jointly deliver online Islamic banking courses and certification. Ethica Institute's certification
is chosen by more professionals and students than any other Islamic finance certificate in the world, and
Zawya is widely regarded as the leading provider of business and investment intelligence in the Middle
East.
Ethica Institute at G20 Islamic Finance Summit: Promoting Education
DUBAI, UAE June 28, 2010: The G20 Islamic Finance Summit recently brought together Islamic finance
experts from around the world to discuss the changing role of the industry amid the continuing global
financial crisis. The summit was held on June 28 at Ryerson Universitys Ted Rogers School of Business
and was opened by Derek Lee MP, federal member of the Canadian parliament.
Edcomm Banker's Academy and Ethica Institute of Islamic Finance Announce Partnership
DUBAI, UAE June 15, 2010: The Edcomm Group Bankers Academy and Ethica Institute of Islamic
Finance today announced a partnership to work together to enhance the training programs they offer to
the Islamic Finance community to provide the best possible solution to their clients worldwide.
Ethica in
Recent News
(cont.)
Ethica Launches the Worlds Largest Database of Islamic Finance Q&As
DUBAI, UAE June 15, 2011: The most popular Islamic finance training website today announced the
launch of a freely accessible database of Islamic finance Q&As. With over 800 scholar-approved answers
to commonly asked technical questions, Ethicas Islamic finance Q&A database is now the worlds largest
inventory available online.
Dubai Eye FM103.8 Interviews Ethica
DUBAI, UAE May 23, 2011: Dubais leading business news radio program interviews Ethica about
Islamic finance, the need for training and the importance of standards.
Guidance Introduces Landmark Islamic Finance Training for American Imams
RESTON, VA April 25, 2011: Guidance Residential (Guidance), announced today the formation of the
American Islamic Finance Project (AIF) which is a collaborative effort between the Islamic Society of
North America (ISNA), Ethica Institute of Islamic Finance (Ethica) and Guidance to provide the first-
ever Islamic finance training to over 100 American imams.
Government of Dubai Invites Ethica to European Trade Delegation
DUBAI, UAE April 4, 2011: Europe move one step closer to Islamic finance today when the Government
of Dubai announced that it is inviting Ethica Institute of Islamic Finance on a high-level trade delegation to
France and Germany. With over 20,000 paid users in over 40 countries, Ethica is the leading Islamic
finance training institute in the world.
Ethica Receives Award Nomination for Best Islamic Finance Qualification
LONDON, UK March 14, 2011: Global Islamic Finance Awards (GIFA) in the UK nominated Ethica
Institute of Islamic Finance for the award of Best Islamic Finance Qualification.
Zawya and Ethica Launch Advanced Certification in Islamic Finance (ACIF)
DUBAI, UAE February 28, 2011: Zawya, the Middle Easts leading business news provider, and Ethica,
the worlds leading Islamic finance training and certification institute team up to launch the industries
most advanced certification in Islamic finance capital markets.
To see all news items, visit http://www.EthicaInstitute.com/Blog
"I have reviewed these
online sessions and I am
very impressed with what I
see. They provide a solid
foundation that is
fundamental to fully
understanding Islamic
finance.
Professor Walid Hejazi
Rotman School of Management,
University of Toronto
What Next?
Visit us at www.EthicaInstitute.com and join our growing community today.
Location:
Ethica Institute of Islamic Finance
Level 14, Boulevard Plaza - Tower 1
Emaar Boulevard, Downtown Dubai
PO Box 127150
Dubai, UAE
Emails are responded to within the same day, usually a few hours:
contact@ethicainstitute.com
We take calls Sunday to Thursday from 9am to 5pm Dubai time:
+9714 455 8690
Fax? If you insist:
+9714 455 8556
ETHICA INSTITUTE OF ISLAMIC FINANCE
2011-15. All rights reserved. Ethica Institute of Islamic Finance is a training, certication, and advisory company.

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TRAINING AND CERTIFICATION CAPABILITIES

INCLUDING CASE STUDIES:

20,000+ paid users

100+ banks and universities

Why Islamic Finance?

Understanding Ijarah I - Islamic Leasing

Understanding Ijarah II And Quiz

Understanding Mudarabah I - Islamic

Understanding Mudarabah III And Quiz

Understanding Murabaha I - Cost Plus

Understanding Murabaha III And Quiz

Understanding Musharakah I - Partnerships

Understanding Musharakah III And Quiz

Understanding Salam And Istisna I - Forward

Understanding Salam And Istisna II

Understanding Salam And Istisna III And Quiz

Understanding Sukuk I - Islamic

Understanding Sukuk II And Quiz

Understanding Islamic Insurance And Quiz

Liquidity Management II And Quiz

Risk Management II And Quiz

Why Islamic Finance?

Understanding Ijarah I - Islamic Leasing

Understanding Ijarah II And Quiz

Understanding Mudarabah I - Islamic

Understanding Mudarabah III And Quiz

Understanding Murabaha I - Cost Plus

Understanding Murabaha III And Quiz

Understanding Musharakah I - Partnerships

Understanding Musharakah III And Quiz

Understanding Salam And Istisna I - Forward

Understanding Salam And Istisna II

Understanding Salam And Istisna III And Quiz

Understanding Sukuk I - Islamic

Understanding Sukuk II And Quiz

Understanding Islamic Insurance And Quiz

How To Calculate An Ijarah Schedule I

How To Calculate An Ijarah Schedule II And

How To Calculate Diminishing Musharakah

How To Structure Mudarabah Deposit

How To Structure Mudarabah Deposit

How To Perform Murabaha Calculations And

Asset Pool Management In Islamic Finance I

Asset Pool Management In Islamic Finance II

Prot Calculation Framework For Deposit

Liquidity Management II And Quiz

Risk Management II And Quiz

Why Islamic Finance?

Understanding Ijarah I - Islamic Leasing

Understanding Ijarah II And Quiz

Understanding Mudarabah I - Islamic

Understanding Mudarabah III And Quiz

Understanding Murabaha I - Cost Plus

Understanding Murabaha III And Quiz

Understanding Musharakah I - Partnerships

Understanding Musharakah III And Quiz

Understanding Salam And Istisna I - Forward

Understanding Salam And Istisna II

Understanding Salam And Istisna III And Quiz

Understanding Sukuk I - Islamic

Understanding Sukuk II And Quiz

Understanding Islamic Insurance And Quiz

Understanding Islamic Accounting I

Understanding Islamic Accounting II