PRESS RELEASE
For IMMEDIATE RELEASE
INCEIF’s joint research initiative in Bahrain
2 April, 2013 – The Deloitte Middle East Islamic Finance Knowledge Center (IFKC) based
in Bahrain has launched a collaborative research initiative with INCEIF The Global
University of Islamic Finance and the Henley Business School, University of Reading,
UK.
This initiative will pave the way for research as well as thought leadership pieces in the
Islamic finance sector that will enhance the knowledge and skills of market participants
and promote leading business practices through thought leadership programmes. The
collaboration will also promote professional excellence and capacity building in Islamic
finance.
INCEIF and Henley Business School are already strategic academic collaboration
partners and are now expanding their partnership to the industry in association with
Deloitte’s IFKC.
This tripartite collaborative research initiative aims to develop a research strategy that
addresses practice and policy-making issues in Islamic finance and its subsectors. Three
key objectives are identified to deliver international research framework:
1.
To create and lead international research excellence and develop
multidisciplinary research programs across the Islamic finance practice.
2.
To foster - through research partnerships - a culture of strategizing support for
industry-driven, and industry-funded research.
3.
To communicate and disseminate research outcomes through effective thought
leadership programs.
INCEIF President & CEO Mr Daud Vicary Abdullah said: “The global Islamic finance
industry today needs to have specific inputs that will enable it to move to the next level.
This can only occur through a concerted effort from both the industry and the
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academia. This tripartite collaboration is the first step in bringing to market a research
strategy that addresses practice and policy-making issues in the industry and its
subsectors.”
Deloitte Middle East Global Financial Services Industry Regional Leader Mr Joseph El
Fadl said “There is a vital need for industry-driven research that addresses the emerging
practice, policy issues and growth opportunities in the realm of Islamic Finance.”
Deloitte IFKC Director Dr Hatim El Tahir said: “A successful outcome of this research
partnership will go a long way towards demonstrating the value of industry-driven
research, practice benchmarking of key markets such as MENA and South-East Asia,
and the need for ongoing investment in research culture in the industry.”
Henley Business School Dean Professor John Board Reading: “This collaboration brings
together deep expertise in Islamic and conventional finance from both academic and
professional services perspectives. It offers a real capability to advance knowledge and
inform policy in all jurisdictions around the world. ”
A recent report by the Organisation of Islamic Cooperation (OIC) confirms that the
global market for Islamic financial services, as measured by the total volume of Shariahcompliant assets, is estimated to have reached US$ 1.1 trillion at the end of 2011. OIC
countries, with a collective share of 98% in these assets, continue to be the main actors
in the industry’s impressive growth story.
Ends
About INCEIF:
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INCEIF, The Global University of Islamic Finance, is set up by Bank Negara Malaysia
to develop human capital for the global Islamic finance industry. Apart from its
academic programmes, which are Chartered Islamic Finance Professional, MSc in
Islamic Finance and PhD in Islamic Finance, INCEIF also offers customised executive
training programmes and industry-focused applied research in line with its vision to
be the knowledge and thought leader in Islamic finance.
INCEIF syllabus is structured with inputs from industry players to bridge the gap
between academic knowledge and industry experience. INCEIF faculty members,
who are globally respected among the Islamic finance academia and industry, have
a combined wealth of experience and diversity. The faculty, coupled with
continuous support from the industry, provides INCEIF students with strong
mentoring relationships and opportunities for professional development.
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 for over 85 years. 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 over 2,500 partners,
directors and staff. It is a Tier 1 Tax advisor in the GCC region (International Tax
Review World Tax 2010, 2011 and 2012 Rankings) and was recognized as the 2010
Best Consulting Firm of the Year in the Complinet GCC Compliance Awards. In 2011,
the firm received the Middle East Training & Development Excellence Award by the
Institute of Chartered Accountants in England and Wales (ICAEW).
About Henley Business School at the University of Reading:
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One of the world’s largest full-service business schools, Henley Business School at
the University of Reading is also one of the few global business schools to hold
achieve triple accredited status (AMBA, EQUIS, AACSB).
The School comprises five distinctive units -- the Schools of Economics,
Management and Real Estate & Planning, the ICMA Centre and a corporate learning
division.
Henley Business School’s internationally renowned offering includes an established
range of undergraduate and postgraduate degrees, the world-ranked Henley MBA
and world-leading corporate and executive education programmes which attract
students and programme members from over 100 countries.
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