UCSI University​’s Associate Dean of the Faculty of Management and Information Technology, Mr Sudesh Balasubram​anian giving his speech during the event

UCSI University​’s Associate Dean of the Faculty of Management and Information Technology, Mr Sudesh Balasubram​anian giving his speech during the event

Participan​ts from UCSI University and Universiti Teknologi Mara (UiTM) at the Corporate Leadership in Islamic Finance Forum

Second Panel Session: “Human Capital Developmen​t as the Key Driver for Islamic Finance Growth: Addressing the Industry’s Need” Forum Panellist (L-R): Professor Datuk Dr. Syed Othman Alhabshi, Chief Academic Officer, INCEIF, Dr. Mohd Daud Bakar, President

The Organising team and panelist after the launching of CIMA Diploma and Advanced Diploma in Islamic Finance. From (L-R): Mr Lim Fang Ching, Programme Leader for Accounting & Finance of UCSI University​’s Faculty of Management and IT, Mr. Adam Abdullah, L

Kuala Lumpur, 21 June, 2011 - CIMA (Chartered Institute of Management Accountants) today held the global launch of its new Advanced Diploma in Islamic Finance at the Corporate Leadership in Islamic Finance event. This was hosted by UCSI University, Amanie and CIMA at the UCSI Blue Ocean Strategy Hall in Kuala Lumpur. 

The launch of the Advanced Diploma marks a major step forward for the Islamic Finance industry as it is the first of its kind to be offered by a professional accountancy body. It follows the successful launch of CIMA’s Certificate in Islamic Finance four years ago, which, following a detailed review, has just been re-graded to the CIMA Diploma in Islamic Finance. 

Venkkat Ramanan, Head of CIMA Malaysia, explained to an audience of over 300 senior Malaysian business professionals that CIMA’s Advanced Diploma and Diploma in Islamic Finance have been developed to help meet a global shortfall of skilled Islamic Finance professionals. Both qualifications offer international recognition by the industry. He stressed that CIMA sees the Islamic Finance market as particularly important, with its current global value estimated at greater than $1.1 trillion. Its continued growth needs to be funded by appropriately trained, new human capital and Malaysia, as a leader in the development of the Islamic finance industry, needs to develop this skilled workforce to meet its own demands, fuel growth and maintain its position internationally. Ramanan also outlined the structure of the new Advanced Diploma, which is based upon a top level case study. 

Also speaking at the event was Dr Mohd Daud Bakar. An international Shari’ah expert, President and CEO at Amanie and the IIIF (International Institute of Islamic Finance Inc), he is a consultant on both the CIMA Diploma in Islamic Finance and the new Advanced Diploma. He discussed the important role played by Islamic Finance has played in the modern world and outlined the need for global qualifications that can be used in all the major and developing Islamic Finance hubs, including Malaysia. He said that over 50,000 professionals will need to join the industry globally over the next five to seven years if its impressive growth is to be sustained. 

UCSI University’s Associate Dean of the Faculty of Management and Information Technology, Sudesh Balasubramanian, concurred by saying, “I hope there will be wide sharing of ideas and expertise during this seminar for the development of cutting edge finance courses and other skill sets that could be further contributed significantly towards the growth of Islamic finance.” 

“The launch of the CIMA Diploma and Advanced Diploma is a clear indication of the University’s strong support in realising the aspiration of becoming a global leader in Islamic finance,” he added. 

UCSI University is contributing through active efforts of developing ideas and programs across the University so as to produce industry-ready professionals particularly in the field of Islamic finance.