The Institute of Chartered Accountants of India (ICAI), Doha chapter, recently hosted a seminar on “Islamic vs conventional banking and IFRS vs AAOIFI standards”.
The event was sponsored by Sasco Group and attended by more than 100 participants.
Musadag El Melik, QNB Al Islami general manager, was the keynote speaker.
El-Melik provided an insight into the principles of Shariah-compliant Islamic banking and the various products currently available such as Ijara, Estisna’a, Mudarabah, Musharaka, Sukuk and Murabaha. The variations of Islamic banking from the conventional system and the critical accounting standards adopted by the Accounting & Auditing Organisation for Islamic Financial Institutions (AAOIFI) were highlighted.
ICAI Doha chapter vice-chairman Venkat Ramamurthy welcomed the gathering. Chapter chairman Girish Jain and secretary Valiyakath Sheji spoke.
ICAI said the chapter’s next event is a workshop, which will be held in the third week of this month.
The Talal Abu-Ghazaleh CIMA Academy hosted the global launch of the CIMA (Chartered Institute of Management Accountants) certificate in Islamic Finance in Arabic in Amman on July 22nd at Talal Abu-Ghazaleh Forum/Talal Abu-Ghazaleh College of Business.
The launch of the Arabic certificate marks a major step forward for the Islamic finance industry – it is the first global qualification of its kind to be offered by a professionally chartered accountancy body.
CIMA to launch first global Arabic certificate in Islamic Finance
Meanwhile, the two bodies will also cooperate in the Global Business Challenge; a competition in the business field provided by CIMA and will be represented in the Arab region through Talal Abu-Ghazaleh College of Business.
The competition is based on case study methodology and will be judged by field experts recommended by TAG-College. Continue reading