Bringing Islamic Finance to Africa: How one Training Company Does it

DUBAI, UAE, March 6, 2012 /PRNewswire via COMTEX/ — How do you bring training in interest-free finance to a vast continent historically crippled by interest-based lending? Ethica Institute of Dubai may have solved the problem.

Already in 11 African countries, Ethica is now the most heavily enrolled Islamic finance training and certification institute in the world with over 20,000 paying users in 44 countries and over 100 institutions.

But what makes Ethica different? Part of its success comes from a 100% online platform accessible from any corner of the globe, requiring only 4 months to go from newcomer to advanced. And part of it comes from being fully AAOIFI-compliant, the Islamic finance industry’s leading standard-setting body.

What makes Ethica quite different from other training institutes is its readiness to go on the ground in Africa. Ethica has licensed resellers in North Africa and West Africa and has delivered face-to-face sessions to African bankers in both Africa and the Middle East.

Dr. Binta Jibril of the International Institute for Islamic Banking and Finance in Nigeria said about her recent Ethica training, “I really enjoyed every hour of the training. It has added immensely to my little knowledge about Islamic finance and increased my interest in it.” She was trained by one of Ethica’s AAOIFI-certified scholars Sheikh Ashraf Muneeb.

Ethica’s spokesperson said, “We are very fortunate that our recent growth across the continent coincides with Ethica’s plans to launch specially discounted pricing for African countries.

Africa has too long been on the receiving end of failed interest-based lending programs and we are delighted to be part of a new Africa based on sustainability and self-sufficiency.” Ethica’s core product is their 4-month Certified Islamic Finance Executive (CIFE) program, the only 100% AAOIFI-compliant, 100% online Islamic finance certificate in the market today.

AAOIFI stands for the Accounting and Auditing Organization for Islamic Financial Institutions, the leading Islamic finance standard in the world and the de facto standard for over 90% of the world’s jurisdictions.

About Ethica Institute of Islamic Finance

Winner of “Best Islamic Finance Qualification” at the 2011 Global Islamic Finance Awards, Ethica ( http://www.EthicaInstitute.com ) is chosen by more professionals and students for Islamic finance training and certification than any other organization in the world. With over 20,000 paying users in 44 countries, the Dubai-based institute is accredited by leading scholars and serves banks, universities, and professionals across over 100 organizations.

To watch an Ethica training video click here http://bit.ly/FCWhyIF . For more information about this article, or to schedule an interview with Ethica Institute of Islamic Finance

http://www.marketwatch.com/story/bringing-islamic-finance-to-africa-how-one-training-company-does-it-2012-03-05

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