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Ethica Islamic finance training comes to India

Tuesday February 07, 2012 12:42:46 PM, Staff Reporter


Malegaon: Ethica Institute of Islamic Finance, a leading Dubai based institute in Islamic finance training and certification announced February 07 that it has granted Infinity Consultants, a Bangalore-based advisory firm, rights to exclusively market and sell Ethica training across India, says a statement released by Ethica.


According to the statement, bids for the much sought after Ethica country exclusivity license began last year and were concluded recently. Other country exclusivity licenses currently under discussion include one each for Pakistan, Oman, Australia, Nigeria, France, and Germany.


Ethica is currently offered in 43 countries and this will be the first time a partner has the right to exclusively sell Ethica to an entire country.

Ethica’s entry into India may be a critical turning point for bringing Islamic finance to a growing economic powerhouse with over 150 million Muslims.


"In the industry, only Ethica’s e-learning platform is 100% online and fully AAOIFI-compliant. That means whether Ethica is training one user, a group of college students, or the entire staff of a bank, training duration remains only 4 months. For a country with limited professionals trained in Islamic finance, the Ethica-Infinity partnership could prove historic", says the statement.

Ethica’s core product is their 4-month Certified Islamic Finance Executive (CIFE) program, the only 100% AAOIFI-compliant and 100% online Islamic finance certificate in the market today. AAOIFI stands for the Accounting and Auditing Organization for Islamic Financial Institutions, the leading Islamic finance standard in the world and the de facto standard for over 90% of the world’s jurisdictions.

“In the aftermath of the global financial crisis, governments around the world recognize the precariousness of purely conventional capital markets and the need for asset-backed, equity-based finance. If India is going to attract Shariah-compliant investment at this critical time, when Gulf liquidity is fast making decisions about where to go next amid a growing Euro crisis, it will first have to train its professionals in AAOIFI-based Islamic finance", says the statement.


Saif Ahmed, Managing Partner at Infinity and a former Islamic banker said, “In less than 4 months, Indian residents now get a globally recognized certificate in Islamic finance at a cost that is affordable from the comfort of their own home or office – something which was not possible before."


"This is a critical step for Shariah-compliant liquidity to find its way into India through infrastructure and private equity investments", he added.

Ethica is also launching special pricing for Indian residents, now available at

Infinity Consultants which has been granted Ethica exclusivity license is a Shariah-compliant advisory firm is based in Bangalore, India. It focuses on providing corporate finance advisory to clients in the GCC region and advising on cross-border investments between India and the Middle East with a track record of over 30 executed engagements.


Infinity is also pioneering several Islamic finance initiatives in India as part of its mission to introduce an ethical alternative to the conventional interest-based financial system. Infinity’s key resource base is its human capital with team members bringing a wealth of experience in investment banking, private equity, management consulting, and Islamic finance in the US, UK, Gulf, and Indian markets.


Winner of “Best Islamic Finance Qualification” at the 2011 Global Islamic Finance Awards, Ethica is chosen by more professionals and students for Islamic finance training and certification than any other organization in the world. With over 20,000 paying users in 43 countries, the Dubai-based institute is accredited by leading scholars and serves banks, universities, and professionals across over 100 organizations.









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