Fundamentals of Islamic finance course launched to cater for market growth

Islamic banking is seen as an alternative to traditional finance and a growing sector of the global finance market. It is bringing new opportunities, with an estimated growth rate of 20% year on year, which means the need for skilled professionals in Islamic finance is now higher than ever.

To address this demand for new skills CIMA Sri Lanka is holding a two-day Islamic Banking and Finance (IBF) intensive course on 22 and 29 May, running from 10 a.m. to 12:30 p.m. each day. 

This webinar will be valuable to anyone currently working in Islamic finance wanting to hone their skills and broaden their knowledge, those wishing to enter the financial services sector and specialise in this area, legal and accounting professionals who advise on Islamic issues and anyone with a general interest in Islamic finance. 

The webinar course organised through the Association of International Certified Professional Accountants (CIMA and AICPA) and delivered through CIMA Sri Lanka. It will teach participants the core concepts behind Islamic financial instruments and principles, and how they can apply them when servicing Muslim as well as non-Muslim clients who are actively exploring Islamic financial services. 

The course will cover the core principles and terminology in Islamic banking, the types of Islamic Banking products and its classifications in financial statements, the amendments to the Sri Lanka Banking Act and the institutions that offer Islamic finance services in Sri Lanka, the screening of equities to ensure compliance with Islamic principles and will cover Islamic capital markets: Sukuk, alternative investment classes and much more. 

Helping lead the course is Sabri Cader, a consultant with over 25 years in banking, most of which was within the specialised area of Islamic banking. Having commenced his career at Union Bank of Colombo, Sri Lanka, he has worked in local and international banks based in Sri Lanka and overseas. In 2000, he took up an assignment at Abu Dhabi Islamic Bank, (ADIB) UAE, which gave him an insight into the operation of a truly colossal Islamic bank. 

Other posts he has held are Manager, Business Banking at Amana Investments Ltd., the company that pioneered Islamic Finance in Sri Lanka, and his last working engagement with Seylan Bank where he served as the Head of Islamic Banking until May 2020. 

Additionally, he serves as a part time lecturer in Islamic Banking and Finance and has conducted lectures on the subject in India, Singapore and the UAE and was a key member of the panel of trainers of the training program for Abu Dhabi Commercial Bank’s Islamic banking unit ‘Meethaq’. He is currently engaged in consultancy services related to Islamic Banking and Finance. 

Cader will be supported with guest speaker Adl Capital Ltd. MD/CEO Ishrat Rauff. Rauff’s experience in the financial industry spans over three decades in areas as diverse as stock broking, corporate credit, foreign exchange trading, treasury management, fund management and investment banking. He currently specialises in the field of Islamic Finance, having spent almost 25 years in the industry. 

In addition to serving as MD/CEO of the Adl Capital Group, he serves on several other companies including a not-for-profit educational institution, which he serves in an honorary capacity. He has also served as CEO and been on the Board of companies in the Amana Group of Companies as well as a company listed on the Colombo Stock Exchange (CSE).

For further information and assistance on the webinar and registration, please contact Kishnika Weeresinghe on [email protected] or call 075-790-3410.