Culture & Education | Monday 25 April, 2016 7:24 am |

Capital Finance International in the UK has awarded Ethica Institute of Islamic Finance in Dubaiwith the Best Online Islamic Finance Education Provider Global Award. In recent months Ethica has also received 'Islamic Finance Education Provider of the Year' from The European at the Global Banking and Finance Awards and 'Best Islamic Online Finance Program' from International Finance Magazine Awards.

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Islamic finance is gaining in popularity, not just in the Middle East but throughout the world. Between 2009 and 2013, Islamic banking assets grew at an annual average of 17.6%. That pace is picking up and may exceed 20% by 2018. A relatively young branch of the financial services industry, Islamic banking was first introduced on a commercial scale in the mid-1970s. After a slow start, the sector ballooned and today boasts a global asset base of well over two trillion dollars.

With conventional banks scrambling to break into this buoyant market, bankers well-versed in Islamic law are much in demand. Based in Dubai and with a global network of partners, Ethica Institute of Islamic Finance provides the training and insights to people entering the world of Sharia-compliant banking or aiming to hone their skills.

All Ethica courses follow the guidelines and standards provided by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) - a non-profit entity in Bahrain established in 1990 to maintain and promote Sharia standards in banking. Ethica not only aims to teach interest-free Islamic banking to novices, the institute also seeks to promote financial inclusion and sustainability by suggesting alternatives to the model of fractional debt reserve banking which it holds co-responsible for social and environmental degradation.

Ethica has trained banking professionals in over 160 financial services providers in 65 countries. Its 4-month long Certified Islamic Finance Executive (CIFE) programme has become a globally recognized certificate for Islamic bankers and is fully sanctioned by leading scholars. Ethica offers a suite of certificate courses addressing all aspects of Islamic banking. The institution retains experienced and renowned scholars, legal experts, and Islamic bankers to design courses and assist students.