E-learning is fast gaining acceptance among Islamic banks. Besides the delivery itself, in terms of training content we wanted to ensure that former conventional bankers could easily transition into Islamic banking both in spirit and law.
Dubai, United Arab Emirates (PRWEB) January 28, 2014
Ethica Institute of Islamic Finance announced today that an undisclosed UAE bank hired the institute to train teams ahead of the launch of their Islamic banking operations. The bank’s employees enrolled in Ethica’s 4-month online Certified Islamic Finance Executive (CIFE) program in preparation for the launch. Since many of the bankers came from a conventional background, Ethica’s e-learning helped them understand the practical aspects of Islamic finance.
“E-learning is the most effective way to train large groups of bankers. It is now commonplace in conventional banking and it is fast gaining acceptance among Islamic banks. Besides the delivery itself, in terms of training content we wanted to ensure that former conventional bankers could easily transition into Islamic banking both in spirit and law,” said Ethica’s spokesperson.
Ethica’s Certified Islamic Finance Executive (CIFE) program is designed to take those new to Islamic finance to an advanced level of practical knowledge in 4 months or less. Previously, the CIFE has been delivered as a university semester, a year-long bank wide program, and as the standard 4 month accelerated program. Ethica’s clients include several global banking giants, most notably Mashreq bank in Dubai, where 1,000 bankers were trained. The award-winning CIFE program is now trusted by more professionals, with students from over 100 financial institutions in 62 countries around the world certified under the program.
Just two months ago Ethica received the UAE’s top honor among educational institutes when His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE and Ruler of Dubai, personally awarded the institute “Best Research and Education Company.” With over two dozen large banks in the UAE of which many are full-fledged Islamic banks, it remains to be seen how quickly financial institutions take up e-learning for their training needs.