Professional Documents
Culture Documents
INCLUDING CASE STUDIES: HOW ETHICA TRANSFORMS LEARNING AT BANKS AND UNIVERSITIES
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
Ethica is #1 for Islamic finance training and certification: 20,000+ paid users 40+ countries 100+ banks and universities
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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.
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"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
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 I have certications in to go astray, Ethica Islamic nance from 2 different institutesEthica Institute of Islamic Institute and somewhere Finance appears and promises to realign its else. Although both direction with its ideals. courses imparted useful knowledge, it was Ethicas Yusuf Jha, Shariah Controller, Abu Dhabi CIFE that claried my Islamic Bank, UAE understanding of the concepts. Faiza C, CIFE, Tax Professional, USA
"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
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Table of Contents
Section About Ethica Institute of Islamic Finance About Ethicas CIFE Case Study: Why Mashreq Bank Chose Ethica Case Study: How Ethica Globalizes Your Campus Competitor Analysis Ethicas Training Platform Customized Solutions Time and Cost Estimates Advisory Services Face-to-Face Training Ethicas Shariah Standards Ethica in the News Contacting Ethica Page 7 8-17 18-25 26-33 34-41 43 44 45-46 47 48 49-51 52-53 54
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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 20minute 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 8
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.
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The Highest Accreditation in Islamic Finance: Fatwas from Leading Islamic Finance Scholars
ISLAMIC FINANCE EDUCATION
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.
This article is the first in a twopart 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
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
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
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
Of the many challenges now facing the Islamic financial industry, perhaps the greatest two are: 1. Accreditation by scholars, not
universities, degree programmes, professional bodies, and accrediting institutes have a place, no doubt, in
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
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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.
______________________________
______________________________
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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.
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Certificate
Level
Accreditation Objective
CIFE
Our most popular certicate: rapidly train all your teams in the essentials of Islamic nance in just 4 months Deliver practical banking knowledge for immediate application or cross-selling across the bank Convey essential knowledge of Islamic accounting, covering the latest AAOIFI standards The most advanced certicate in Islamic nance capital markets, going through the products and the case studies that shape todays Sukuk market
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None
4 months
II
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CIFE
4 months
III
27
CIFE
4 months
III
25
CIFE
4 months
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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
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And Quiz Understanding Musharakah III And Quiz Understanding Salam And Istisna I - Forward Prot Calculation Framework For Deposit Sales And Manufacturing Contracts Accounts Understanding Salam And Istisna II Understanding Salam And Istisna III And Quiz Islamic Financial Innovation Understanding Sukuk I - Islamic Liquidity Management I Securitization Liquidity Management II And Quiz Understanding Sukuk II And Quiz Risk Management I Understanding Islamic Insurance And Quiz Risk Management II And Quiz
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Case Study:
Why Mashreq Bank Chose Ethica For Bank-Wide E-Learning
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CASE STUDY
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
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
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 Rapid e-learning is the overall design really keep wave of the future. me engaged. And Ethica's e-learning because training videos brings engaging content come in 20 minute and appealing design. With Ethica we are able Yuvakumar Ramchander, chunks, I can t training to impart the basic Head, Mashreq Learning into my schedule any time understanding of Islamic Systems, Mashreq Bank I want. banking to our bankers in Mashreq Banker just 4 months with a
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CASE STUDY
CASE STUDY
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CASE STUDY
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CASE STUDY
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
money. At Ethica, training 500 Does Ethica's training staff costs $395 per trainee per cannibalize HR functions? If year; and training 1,000 staff costs everything is done on computers, $235 per trainee per year. what happens to internal trainers? Internal trainers are indispensable Ethicas Dashboard: to Ethica: conduct bank-wide, CIFE training online at Ethica; Empowering Managers then deliver blended, high-level training face-to-face with HR and Weekly snapshots for quick training professionals. Without previews internal trainers, "blended" training Drill-down reports for detailed never happens. With Ethica, HR tracking and training managers become Schedule CIFE examinations for even more important. controlled testing and monitoring CIFE examination reports Won't we save money by Advanced search (including user, developing our own training? training module and/or date range) Knowledge process outsourcing, WYSIWYG: What you see on the or KPO, is one of the fastest screen is what you Print or Save growing sectors of the banking as Excel industry because it saves banks
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CASE STUDY
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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CASE STUDY
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 5. It gives learners more control the same. No classrooms, no additional E-learning is accessed on demand, giving trainer costs, no lunches, and no binders. your learners control over their time. Learners can access the material on the move or from 3. Management and HR have more home so can use down time productively. visibility on learning Repeating and reviewing complex material With e-learning tracking and assessment, you can be better accomplished with the click of have total visibility on what your learners are a button rather than scheduling meetings and doing. When, where, and how often they conference calls with live instructors, which access the training, how well they score, and may or may not even happen. how quickly they get certiedall easily (Source: Kineo 2008) 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%
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With Ethica, our Islamic finance program now extends far beyond our physical campus.
Ishaq Bhatti, Associate Professor, La Trobe University
Case Study:
How Ethica Globalizes Your Campus
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CASE STUDY
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CASE STUDY
...La Trobe University teams up with Dubais Ethica Institute, a world leader in Islamic finance training...
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CASE STUDY
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CASE STUDY
modules offered by Ethica. The course will Cost-Plus Financing (Murabaha): Partnerships (Musharakah); Islamic Forward comprise of up-to-date practical knowledge designed to conform to the Selling and Manufacturing Contracts internationally acclaimed AAOIFI (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. (Accounting and Auditing Organisation for Islamic Financial Institutions) standards.
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CASE STUDY
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
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CASE STUDY
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
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 take? minutes, plus about 1 hour per module of All online or blended. We are the only self-study. We have dozens of modules that accredited Islamic nance program that we are launching as part of our Advanced delivers training and certication 100% online with the exibility to add face-to-face CIFE certicates later this year. One module consists of an approximately 20 training and testing conducted by you or minute training video comprising a variety us. of exercises, case studies, and quizzes, How long is it? along which the student is expected to The program can be compressed into as conduct his or her own self-study. little as 1 month or as much as 6 months. Experience with hundreds of other learners We designed the program to be exible for
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CASE STUDY
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.
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Competitor Analysis
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#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.
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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 costeffectively 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.
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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.
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Number of Users 1 2 to 7 8 to 19 20 to 39 40 to 69 70 to 99 100 to 299 300 to 599 600 to 999 1,000 to 1,499 1,500 to 2,000
Rate/User $1,495 $1,295 $1,095 $995 $895 $745 $595 $395 $295 $235 $199
Discount -13% -27% -33% -40% -50% -60% -74% -80% -84% -87%
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Competitive Analysis
Certification Cost 100% Online? 100% AAOIFIBased
Yes
Ethica CIFE
$1,495
Yes
Yes
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IIBI (Institute of Islamic Banking and Insurance) INCEIF (International Centre for Education in Islamic Finance) CIMA (Chartered Institute of Management Accountants) IFQ (Islamic Finance Qualication) AIMS (Academy for International Modern Studies) Shape Financial
$1,890
No
No
$6,850
No
No
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1 CIFP
$2,300
No
No
1 Cert IF
$1,320
No
No
1 IFQ
$1,000
No
No
1 CIFE
$5,505
No
No
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1 CIFA
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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 emailbased, 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, classroombased training is simply outdated when compared with online programs for rapid information transfer.
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Inside Ethica
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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.
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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, costeffective, 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.
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Phase
Content Creation: Researching, writing, and editing scripts for learning delivery Module Production: Recording, post-production editing, and synchronizing with visual content Module Design: Creating layouts, moving objects, visual prompts, and all design-related content Module Delivery: Integrating raw content into a learning management system Testing: Conducting tests with client side systems to ensure effective delivery
$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
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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.
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Face-to-Face Training
Ethicas CIFE is also offered as a faceto-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 or on-site at the clients premises. Online Delivery: Access to all of Ethicas premium training modules 24hours 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. 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.
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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,
Banks, the rst English and Arabic reference on Middle East Banker, and others. His 30 year career was featured in an August 2007 front 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 page story in the Wall Street Journal.
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nance. He holds the Alamiyyah and Takhassus Islamic Financial Institutions) and currently
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he worked for BMB Islamic and Dar Al Istithmar and acquisitions and corporate nance
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.
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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 oncampus 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 ELearning 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.
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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 firstever 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
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"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 Fairmont Tower, Suite 508 Sheikh Zayed Road 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 311 6724 Fax? If you insist: +9714 332 8810
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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