The India-based International Institute of Islamic Business and
Finance (IIIBF) has entered into a partnership with Trisakti
University, Indonesia that includes mutual recognition of each
other's education programs, development of new courses in emerging
areas, such as, Islamic microfinance and Islamic non-profits and
According to Dr Mohammed Obaidullah, a
Senior Economist with the Jeddah-based Islamic Development Bank and
the founder of IIIBF, "The partnership should provide a tremendous
boost to research and human resource development for the growing
number of Islamic microfinance and poverty alleviation projects
across the globe.
IIIBF would now offer MA and PhD
degrees in Islamic Economics in India, to be awarded by Trisakti.
The degree programs would naturally focus on bringing into the class
room the best practices of Islamic microfinance from the innumerable
experiments being undertaken across Indonesia and encourage their
replication in India.
An IIIBF statement says that IIIBF,
sponsored by IBF Net (Islamic Business and Finance Network) has been
offering professional certification programs in the field of Islamic
banking, insurance and investments since 1999. Similarly, Trisakti,
the largest private university in Indonesia has been a pioneer in
Islamic economics and finance education in Indonesia.
"The mutual recognition of
certification programs should enhance the confidence of education
seekers faced with the problem of choosing the right diploma or the
right degree in Islamic finance to further their career
opportunities", according to Dr Ausaf Ahmad, a renowned scholar of
Islamic economics and President, IIIBF.
"The partnership would also provide a
fillip to the growth of the nascent Islamic finance sector in India
by preparing professionals to take up managerial positions", he
"IIIBF and Trisakti have ambitious
plans for the future that includes launching a joint website for
Islamic microfinance and development (www.imad.in)
and the first ever research journal in Islamic microfinance," says