1. October, 2015
Issue 4
Institute of Finance
& Management
In this Issue
IFM: Introduction
IFM Strategic Partners
IFM Certificates
Highlights: Latest News
Highlights:
ACRIE launches the first Takaful
report at GIES
ACRIE launches its First IF
directory in both languages
IFM UAE Agent to conduct first
Certified Islamic Arbitrator
Course in Dubai- Nov 1st
IFM and IIRA to conduct first
Credit Rating Workshop for
IFIs in Bahrain 2-3 Dec and
Dubai 15-16 Dec
Monthly Newsletter- October 2015
Based on a sagacious
and strategic vision,
which supports the
concepts of Islamic
Economy, and seeks to
spread the same to the
world, and under the
umbrella of the
initiative of his
Highness Sheikh Faisal
Al Qassimi “Seek
Knowledge”, IFM, the
training institute
specialized in Islamic
financial, banking and
administrative training,
was launched.
Institute of Finance & Management (IFM)
Islamic Economy Knowledge Infrastructure
IFM provides a unique
range of certificates
with global partners.
IFM also presents the
services of professional
training to individuals,
establishments, banks
and organizations, by
providing occupational
training programs and
advisory services
specialized in Islamic
Economy, in addition
to other training
programs that support
the banking and
financial institutions by
means of an elite group
of specialized experts
and trainers. IFM
conducts also
conferences related to
Islamic Economy
globally.
IFM seeks to provide
training programs for
global certificates
issued by recognized
global institutions such
as IIRA, IICRA, IIFM,
IIIW, MIM and ICPAP.
In addition to this, IFM
provides a wide
spectrum of
management courses.
programs to cope with
the needs of the global
market through an e-
learning platform.
www.ifm.co.ae
www.acrie.ae
www.aafaq.ae
businessislamica.com
www.dcibf.ae
MARK YOUR CALENDAR
Certified Islamic Arbitrator –
CIA- Nov 1-5 2015 Dubai
Workshop on Islamic Arbitration
with Hamdan BM smart University
on Nov 16th
2015
Credit Rating 2-3 Dec (Bahrain)-
15-16 Dec (Dubai)
2. Page 2 of 9
Page 2 of 9 IFM Monthly Newsletter
“In the framework of
HH initiative, ACRIE
launches the First
Takaful Report at
GISE, in joint
cooperation with
(DCIBF).”
UAE, October 5, 2015 –
ACRIE- Aafaq Center for
Research in Islamic
Economy, a subsidiary
company of aafaq Islamic
Finance, and Dubai Center
for Islamic Banking and
Finance (DCIBF), a joint
initiative of Hamdan Bin
Mohammed Smart University
(HBMSU) and ‘Dubai the
Capital of Islamic
Economy’, released their
extensive report entitled
‘Takaful: Global
Challenges to Growth
Performance and
Governance’ during the 2015
Global Islamic Economic
Summit in Dubai. The event,
which is being held under the
patronage of H.H. Sheikh
Mohammed Bin Rashid Al
Maktoum, Vice President and
Prime Minister of the UAE
and Ruler of Dubai, ran from
October 5 to 6, 2015 at the
Madinat Jumeirah.
Dr. Mahmoud Abdulaal,
CEO, aafaq Islamic Finance,
added: “ACRIE and DCIBF
and DIEDC have prepared
an outstanding account of
the current Takaful
landscape and key areas for
improvement that can further
increase the sector’s impact
ACRIE and HBMSU’s Dubai Center for Islamic Banking and
Finance launch extensive Takaful report at GIES in Dubai
on the global Islamic
economy. It was a very
enlightening experience for
us to join the Center in
exploring the Takaful
industry’s mechanisms,
strengths, and gaps. Our
report gives Takaful players
and stakeholders a clearer
picture of what to expect,
what to address and what to
aim for as the sector gains a
firmer foothold on the
international markets.”
The report reveals that the
GCC region currently
dominates the Takaful
business, with Southeast
Asia and Africa as the next
biggest markets. There were
a total of 224 global Takaful
operators as of 2012, with
101 new companies formed
between 2006 and 2012
alone. The total manpower
supporting the Primary
Takaful sector stood at
70,010 as of 2013. Based
on its recent growth rates,
the global Takaful volume
of contributions could
reach USD 52.5 billion by
2020. The report notes
that the future rate of growth
of Takaful sales is being
inhibited by the relative
under-development of
insurance distribution
channels in several emerging
markets into which Takaful is
being launched.
The key insights provided by
‘Takaful: Global Challenges
to Growth Performance and
Governance’ reflect the
growing role DCIBF is
playing in investigating and
studying major technical and
socio-economic issues
affecting Islamic banking and
finance. The Center is the
result of HBMSU’s efforts to
become the first learning
institute to launch a
dedicated platform for
enhancing both academic
knowledge and human
capital development in
Islamic banking and finance
at the regional and
international levels. DCIBF
embodies HBMSU’s
outstanding commitment to
the provision of quality
education, training, research
and community service and
the promotion of best
practices in the field of
Islamic banking and finance.
ACRIE, as a research
subsidiary of aafaq Islamic
Finance, is dedicated to
support the initiative of his
Highness.
3. Page 3 of 9 IFM Monthly Newsletter
Aafaq Center for Research in Islamic Economy
to launch first Islamic Finance Encyclopedia &
Directory in Arabic
Unveiling of pioneering products to take place on sidelines of
Global Islamic Economic Summit 2015
In line with the vision of H.H.
Sheikh Mohammed Bin Rashid Al
Maktoum, UAE Vice President and
Prime Minister and Ruler of Dubai,
to make Dubai the Capital of the
Islamic Economy, the Aafaq Center
for Research in Islamic Economy
will launch the first ‘Islamic
Finance Encyclopedia’ and ‘Islamic
Finance Directory’ in Arabic.
It is worth noting that Aafaq Center
for Research in Islamic Economy
was recently established to provide
thematic, multi-disciplinary
research to address strategic and
practical research issues on Islamic
economy, the Center develops a
competitive portfolio to establish an
international platform for experts,
practitioners and academics in
Islamic economy.
The release coincides with the 2015 Global Islamic
Economic Summit taking place from October 5 to 6,
2015 at Madinat Jumeirah, Dubai.
The ‘Islamic Finance Encyclopedia’ comprises twelve
volumes covering all aspects of Islamic Finance
including Shari’ah Framework, emergence of Islamic
Financial Institutions, Banking Services; Takaful,
Islamic Financial Markets, Islamic Arbitration,
Waqf; Zakah, Risk Management and Credit Ratings
in IFIs; Governance in IFIs; and Accounting
Treatments in IFIs.
HE. Abduljaleel Abdulrahman Mohammad Alblouki,
Vice Chairman of aafaq Islamic Finance, said: “To
complement H.H. Sheikh Mohammed’s vision of
establishing Dubai as the Capital of Islamic Economy,
Aafaq Center for Research in Islamic Economy has
done a pioneering work of publishing the first-ever
‘Islamic Finance Encyclopedia’ along with the first
‘Islamic Finance Directory’ in Arabic. We have
undertaken this move to raise greater awareness about
Islamic Finance and its products through various
media to the biggest possible geographical area.”
“This is the first-ever
‘Islamic Finance
Encyclopedia’ along
with the first ‘Islamic
Finance Directory.”
4. Page 4 of 9
Page 4 of 9 IFM Monthly Newsletter
“ACRIE and IFM
partners at WIBC
2015 - Bahrain”
ACRIE and IFM, Association partners at the
upcoming WIBC – Bahrain 1-2-3 December 2015
5. Page 5 of 9 IFM Monthly Newsletter
Request your copy
Aafaq Encyclopedia in Arabic (12 volumes) $1000
Request your copy
Aafaq Directory in cooperation with
UAB $100
Takaful Report in Cooperation with
Hamdan Smart University
6. Page 6 of 9
Page 6 of 9 IFM Monthly Newsletter
Mark Your Calendar
Dec 2-3 Bahrain
Dec 15-16Dubai
Mark Your Calendar
Nov 16th
- Dubai
8. Page 8 of 9
Page 8 of 9 IFM Monthly Newsletter
Partners
ACRIE in the media
9. Page 9 of 9 IFM Monthly Newsletter
• Arabic Online Coverage:
• Al Bayan
• Al Khaleej
• Al Ittihad
• Emarat Al Youm
• WAM
• Araa News
• HN Speed
• Aawsat
• En Maktoob News Yahoo Online
• Al Bawaba
• http://www.albawaba.com/ar/business/pr
English Online Coverage:
• Arab Wide Web
• Emirates Week
• Press Release Ping
• Zawya
• Pocket News Alert
• Invest in Brazil
• CPI Financial
• Gulf News
• Gulf News 247
• Albawaba
• Khaleej Times
• Al Press
• Press Release Point
• Dubai PR Network
• Day of Dubai
• Go Dubai
• Mena FN
• Islamic Banking Magazine
• Scoop IT
• Social Media News
• Wam
• Capital Business
• Topix
ACRIE in the media- Online Coverage
Contact us: www.acrie.ae / m.kamil@acrie.ae / Tel 0097147058404