Amanie Islamic Finance Consultancy and Education Joins the DIFC Centre of ExcellencePress Release28 Apr 2010 01:25 pm
Amanie Islamic Finance Consultancy and Education (AIFCE) today announced the opening of its office at the DIFC Centre of Excellence. The new office will be the company’s base for providing Shariah endorsement and training services to clients in Europe and the Middle East and North Africa (MENA) region.
Amanie’s Shariah endorsement services are focused on conducting reviews and providing certification for Islamic finance products based on internationally accepted Shariah principles and standards. The service is provided through Amanie’s Shariah Supervisory Board, which comprises of four eminent scholars. In addition, the group provides supports throughout the product development process - from the creation of the product through to its final endorsement. Amanie also provides a range of education and training programmes on Sharia-based finance.
“DIFC provides a comprehensive platform that enhances growth in the financial industry across our region. Taking into consideration the constant developments in the financial sector, training and education are seen as imperatives to ensure that financial institutions’ staff is always up to date with the latest developments. DIFC Centre of Excellence, established by the Dubai International Financial Centre, facilitates getting the best training and education without the need to travel abroad through cooperation with reputed universities, colleges and educational institutions. Therefore, it pleases us to welcome Amanie to DIFC Centre of Excellence and we are confident that it will provide additional value, particularly in the field of Islamic finance consultancy”, said Marwan Ahmad Lutfi, Deputy CEO and Head of Business Development in DIFC Authority.
Faten Hani, CEO of the DIFC Centre of Excellence said: “We are very happy to welcome Amanie, a leading provider of Islamic Finance consultancy and training services to the DIFC Centre of Excellence. Islamic Finance is currently growing faster than almost any other sector in the global financial industry. Over the last year, it has widened its appeal to markets that lie beyond its traditional base. Consultancy and education services such as those offered by Amanie are critical to the sustained growth and development of the Islamic Finance industry. We look forward to providing the support necessary for Amanie to successfully deliver its services from the DIFC Centre of Excellence.”
Dr. Mohd Daud Bakar, the group’s Managing Director: “We choose the Dubai International Financial Centre (DIFC) as the base to service our European and MENA clients as it provides the best regulatory environment and infrastructure for delivering our services. The DIFC Centre of Excellence is also the ideal location for our training activities and academic outreach. Dubai in general and DIFC in particular has a large number of global financial institutions looking for Shariah-compliant services and products and we are very happy to have the opportunity to partner with these institutions.”
Amanie’s educational programmes cover a wide range of Islamic Finance areas including commercial law, Sharia principles and standards, banking and finance, Takaful, Re-Takaful, Equity Capital Market, derivatives and structured products, Sukuk, accounting, legal issues and documentation, Sharia audit and compliance review, product structuring and product development, risk management and corporate governance.
Amanie and the DIFC Centre of Excellence recently teamed up to organise The Amanie-Failaka Symposium, an event that analysed the environment for Islamic capital markets and the prospects for its growth in the light of the current global economic crisis. Held on 12 April, the event featured an exchange of ideas between representatives of both GCC-based and overseas firms as well as Shariah scholars, investors, regulators and intermediaries.