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August 2015
- 1. August, 2015 Issue 2 Instituteof Finance & Management In this Issue IFM: Introduction IFM Strategic Partners IFM Certificates Highlights: Latest News Mark Your Calendar Highlights: IFM signs Agreement with Fleming Gulf Aafaq distributed parcels during Ramadan ACRIE to issue first Takaful report with DCIBF Monthly Newsletter- August 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. Useful Links: www.ifm.co.ae www.acrie.ae www.aafaq.ae businessislamica.com www.dcibf.ae MARK YOUR CALENDAR Workshop on Islamic Arbitration with Hamdan BM smart University on Sept 19 th 2015 Time Management workshop on August 29
- 2. Page 2 of6 Page 2 of 6 IFM Monthly Newsletter “In the framework of its social responsibilities activities, aafaq Islamic finance distributes parcels.” Institute of finance & Management signed an Agreement with Fleming Gulf, a leading marketing and media company as a supporting association in the upcoming 7th World Islamic Retail Banking Conference, 17 – 18 November 2015, Dubai – UAE. Pursuant to the agreement, Fleming Gulf Partnership between Fleming Gulf & Institute of Finance & Management UAE, July, 2015 (ACRIE) – aafaq Islamic finance distributed parcels during the holy month of Ramadan in a number of UAE areas. Aafaq Islamic finance, the UAE leading Islamic finance company has aafaq distributed parcels during Ramadan ACRIE, a research subsidiary of aafaq Islamic finance will issue its first report on Takaful in partnership with Dubai Center for Islamic Banking and finance at Hamdan ACRIE to issue first Takaful report in partnership with DCIBF- Hamdan smart University will Acknowledging Institute of Finance and Management (IFM) as the" Supporting Association" for the 7th World Islamic Retail Banking Conference (on all printed & on-line materials) and IFM's logo will feature in the Official Event Magazine’ in all Ads, E-shots, marketing collateral and branding opportunities at the event / exhibition. IFM will also be entitled to 2 conference passes and will have the opportunity to distribute free copies of its marketing materials to participants. IFM will also get Exclusive discount to subscribers on conference registration and the opportunity to receive all speaker presentation and participation profiles for all participants. .. http://www.ifm.co.ae dispatched food packages in various areas including to those needy people in the UAE. This action is part of aafaq Islamic finance social responsibility that covers different philanthropist activities. To continue: http://www.ifm.co.ae Smart University UAE. The issuance of such a report comes pursuant to an agreement signed between Hamdan Smart University and aafaq Islamic finance. Aafaq is aligning its objectives with Dubai smart government and Islamic Economy objectives. Both parties agree to issue a number of other reports later.
- 3. Page 3 of6 IFM Monthly Newsletter The Dubai Islamic Economy Development Centre (DIEDC) will publish its annual report on Sharia-compliant goods and services in October. It is part of the Dubai government’s efforts to become a world leader in Islamic products ranging from finance, food and tourism. The Islamic economy Dubai Islamic Economy Development Centre to Publish Annual Report in October Abu Dhabi Islamic Bank’s (ADIB) rights issue will be conducted through the issue of tradable securities to registered shareholders of ADIB as at the close of business of the ADX on 13 August 2015 in the amount of 56 Rights for every 1,000 shares held at a price of AED 3 per new share, including a premium of AED 2 per share. Abu Dhabi Islamic Bank Rights Issue Timetable “To catch the reader’s attention, place an interesting sentence or quote from the story here.” could be a US$3.73 billion market for companies focused on Sharia-compliant industries by 2019, according to estimates from Thomson Reuters and DIEDC. The State of the Global Islamic Economy report will also highlight rapid growth in Islamic finance, with outstanding assets expected to exceed $4bn by 2019, according to DIEDC estimates. Countries such as Hong Kong, Britain and South Africa issued their maiden sukuk in the past year. “We are confident that the report will inspire and empower entrepreneurs, industry leaders and investor. The issue will see ADIB’s share capital increase from AED 3,000,000,000 to AED 3,168,000,000, ADIB intends to use the funds in order to strengthen its capital base and fund its banking operations, including extending financing to customers. Each Right grants eligibility to subscribe for one new share at the issue price. Shareholders who do not wish to subscribe may sell their rights to other investors from the opening of trading on 16 August 2015 until the close of trading on 3 September 2015. Subscription for the new shares will take place from 23 August 2015 until 10 September 2015. Caption describing picture or graphic.
- 4. Page 4 of6 Page 4 of 6 IFM Monthly Newsletter ACRIE, aafaq Center for Research in Islamic Economy, a subsidiary of aafaq Islamic finance, is going to issue the first Islamic finance directory pursuant to an agreement signed between aafaq Islamic finance and Union of Arab Banks The agreement states that ACRIE and UAB to issue the first Islamic Finance Directory in Arabic “To issue the first Islamic finance directory that covers All Islamic Banks in the Arab World” “Our Global Professional Certificates” both parties will jointly partner in issuing a global directory on Islamic financial institutions in the Arab world. It is worth mentioning that this directory is the first to be issued in Arabic language. CIBAFI used to issue till 2013 an English version of global and GCC Islamic finance directories. However, since 2014, CIBAFI no longer issues such a publication. This publication will deal with financial highlights and indicators for all Islamic banks in the Arab world.
- 5. Page 5 of6 IFM Monthly Newsletter Mark Your Calendar: September 19, 2015
- 6. Page 6 of6 Page 6 of 6 IFM Monthly Newsletter Our Strategic Partners Mark Your Calendar: August 29, 2015