Deloitte collaborates with FAA for world-class Islamic Finance training standards in the Middle East

The Deloitte Islamic Finance Knowledge Center (IFKC) has signed a Cooperation Agreement with the Finance Accreditation Agency (FAA), an organization supported by Bank Negara Malaysia and Securities Commission Malaysia which promotes leading practices in Islamic Finance training development.

Deloitte collaborates with FAA for world-class Islamic Finance training standards in the Middle East

Deloitte collaborates with FAA for world-class Islamic Finance training standards in the Middle East

The initiative aims to provide Quality Assurance and Accreditation in Islamic Finance Executive Education by having Deloitte IFKC professional training programs benchmarked against best practices and adhere to the highest standards of quality through reviews by international experts around the world.

This collaboration with the FAA complements Deloitte’s existing capacity programs with industry stakeholders. The program strives to enhance opportunities for practitioners in the Middle East and elsewhere to benefit from an international quality assurance framework developed for the financial service industry.

“Our capacity program strategy aims to work diligently and closely with the Islamic finance industry and help diffuse high standards of good practices in all aspects. This program has particular emphasis on quality of professional training and executive education,” said Joe El Fadl, Financial Services Industry leader, Deloitte Middle East.

“In today’s highly dynamic and evolving financial system, establishing business relations to strengthen the financial institutions cannot be overemphasised. FAA enters this significant partnership to reach this goal which supports the agenda in bringing the best practices to the industry at the same time promoting quality learning within the Financial Services Industry”, said Dr. Amat Taap Manshor, Chief Executive Officer of the FAA.

The IFKC and FAA cooperative initiative recognizes the importance of upholding quality learning in Islamic financial service industry.

Three main objectives are identified in this partnership:

1. To standardize Quality Assurance and Accreditation ‘QAA’ framework in the Islamic financial service industry.

2. To foster more widespread understanding about QAA in training and executive education, incorporating core local practices, leveraging on our joint expertise and insights.

3. To increase awareness about the opportunities to benefit from participation in capacity building and talent development.

“Teaming up with FAA and other leading industry players is an endorsement of the importance of energizing capacity collaboration among stakeholders and step forward in practice synergies between key markets”, said Dr. Hatim El Tahir, Director of the Deloitte Islamic Finance Knowledge Center. “We are extremely delighted to forge this cooperation agreement with FAA and strive to set a roadmap strategy for quality education in Islamic finance,” Dr El-Tahir added.

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About FAA:

Finance Accreditation Agency (FAA) is an international and independent quality assurance and accreditation body supported by Bank Negara Malaysia and Securities Commission Malaysia. FAA is responsible for quality assurance and promotion of learning initiatives within the Finance Services Industry (FSI) through learning programme, institutional and individual accreditation, as well as promotion of future learning practices in the FSI through the development of a FAA Qualification Structure (FQS), FAA Learning Standards (FLS) and FAA Recognition of Prior Learning (FRL). Through these initiatives, FAA aims to contribute towards promoting the highest standards in the development of talent for the FSI.

About Deloitte:

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.

Deloitte’s professionals are unified by a collaborative culture that fosters integrity, outstanding value to markets and clients, commitment to each other, and strength from cultural diversity. They enjoy an environment of continuous learning, challenging experiences, and enriching career opportunities. Deloitte’s professionals are dedicated to strengthening corporate responsibility, building public trust, and making a positive impact in their communities.

About Deloitte & Touche (M.E.):

Deloitte & Touche (M.E.) is a member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is the first Arab professional services firm established in the Middle East region with uninterrupted presence since 1926.

Deloitte is among the region’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with around 3,000 partners, directors and staff. It is a Tier 1 Tax advisor in the GCC region since 2010 (according to the International Tax Review World Tax Rankings). It has received numerous awards in the last few years which include Best Employer in the Middle East, best consulting firm, and the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW).

© Press Release 2013

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