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TRAINING AND CERTIFICATION CAPABILITIES

INCLUDING CASE STUDIES: HOW ETHICA TRANSFORMS LEARNING AT BANKS AND UNIVERSITIES

BEST TRAINING INSTITUTION NOMINATION 2009 & 2010

BEST ISLAMIC FINANCE QUALIFICATION NOMINATION 2011

Ethica is the worlds most popular training and certification institute in Islamic finance.
100% online training, testing, and assessment 100% AAOIFI based standards, the worlds most accepted Islamic finance standard 100% accredited by leading Islamic finance scholars

Ethica is #1 for Islamic finance training and certification: 20,000+ paid users 40+ countries 100+ banks and universities

www.EthicaInstitute.com

More people choose Ethica for Islamic finance training and certification than any other organization in the world*
*Based on independent survey estimates conducted with IFQ, INCEIF, IIBI, CIMA, university programs, and others.

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"This is a timely and much needed development in the industry. Qualied human capital is the most critical need for the industry to maintain its growth trajectory across geographies. Afaq Khan, CEO, Standard Chartered Saadiq, Dubai "The best thing about Ethica Institute is that it makes AAOIFI standards accessible to everyone who is eager to learn." Liaquat Ali, MBA, CIFE, Founder, TrulyInterestFree.com

I would unhesitatingly recommend Ethica over anyone else.


Shaykh Faraz Rabbani, Shariah Scholar, StraightWay Ethical Advisory

This is an excellent initiative that promises to nally bring Islamic nance to the masses! Just as we had begun to fear that the caravan of Islamic nance had begun I have certications in to go astray, Ethica Islamic nance from 2 different institutesEthica Institute of Islamic Institute and somewhere Finance appears and promises to realign its else. Although both direction with its ideals. courses imparted useful knowledge, it was Ethicas Yusuf Jha, Shariah Controller, Abu Dhabi CIFE that claried my Islamic Bank, UAE understanding of the concepts. Faiza C, CIFE, Tax Professional, USA

"I certify that Ethica's training is fully Shariah compliant. And I consider the CIFE to be the strongest Islamic nance certication available online that I have seen." Tariq Bujasaim, Senior Shariah Auditor, Dubai Bank I have reviewed these online sessions and I am very impressed with what I see. Professor Walid Hejazi, Rotman School of Management, University of Toronto

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Table of Contents
Section About Ethica Institute of Islamic Finance About Ethicas CIFE Case Study: Why Mashreq Bank Chose Ethica Case Study: How Ethica Globalizes Your Campus Competitor Analysis Ethicas Training Platform Customized Solutions Time and Cost Estimates Advisory Services Face-to-Face Training Ethicas Shariah Standards Ethica in the News Contacting Ethica Page 7 8-17 18-25 26-33 34-41 43 44 45-46 47 48 49-51 52-53 54

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About Ethica Institute of Islamic Finance


Ethica Institute of Islamic Finance is the worlds only accredited institute delivering Islamic nance training and certication 100% online. More people now choose Ethicas 4-month CIFE (Certied Islamic Finance Executive) than any other Islamic nance certicate. As the most recognized Islamic nance certier in the world, Ethica was nominated Best Islamic Finance Training Institution two years running (2009 & 2010) by IB&F, the industrys leading award-granting body and in 2011 we received the award nomination for Best Islamic Finance Qualication from the Global Islamic Finance Awards (GIFA) in the UK: 1. AAOIFI Based: Ethicas CIFE is the only certicate in the world based on the highest Shariah standard in the Islamic nance industry - besides AAOIFI itself. 2. Scholar Approved: Our world-class team of bankers and scholars includes leading names like Sheikh Yusuf Talal DeLorenzo and Mufti Zubair Usmani. 3. Banker Tested: Bankers who execute transactions for a living, not professors who teach theory, prepare Ethicas material. 4. Fastest Growing: More bankers choose Ethicas CIFE than any other certicate in the Islamic nance industry. 5. Most Popular: Head-to-head consumer tests repeatedly show one thing: Ethicas CIFE sets a new standard in Islamic nance training and certication.

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About Ethicas CIFE

Who Can Become a Certied Islamic Finance Executive (CIFE)? Anyone with an interest in training and certication in standards-based Islamic nance. There are no prerequisites necessary in order to enroll because the material assumes no prior knowledge of Islamic nance. What Is Ethicas CIFE? Ethica Institutes CIFE is a 4 month training and certication program consisting of a growing library of 20minute training videos containing exercises, case studies, and quizzes, followed by an examination. How Do I Get Ethicas CIFE? Once users understand the material in the 22 core modules that comprise the testable material, they are ready to take the 90-minute online examination. If they pass, the Ethica Institute of Islamic Finance CIFE certicate is delivered directly to them. Beautifully-designed by 8

classically-trained Islamic artists, custom-calligraphered and framed by hand, each certicate is couriered to our clients doorstep. How Long Does It Take To Get Ethica's CIFE? Users take the exam as soon as they know the material. For some that's 3 months, for others it's more: users choose the pace. Why Should I Get Ethicas CIFE? Because a trained and certied professional brings condence, purpose, and knowledge to his work. Where Do I Get Ethicas CIFE? Training and certication for the CIFE is conducted 100% online and, as requested, at the clients site. When Can I Get Ethicas CIFE? Enrollment, training, and examination is open 24-hours a day, 365 days a year.

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The Highest Accreditation in Islamic Finance: Fatwas from Leading Islamic Finance Scholars
ISLAMIC FINANCE EDUCATION
but a few. And yet Islamic finance training, the very building block of the industry, is conspicuous in its absence of standards. This is a root problem for all practitioners for which almost every other problem is but a symptom. acutely in the industrys face-to-face training sector, where just about anyone with passable product knowledge stands before an audience of eager bankers and waxes lyrical about the virtues of Islamic finance. Of course, it would be acceptable if this trainer merely repeated the positions of those qualified to speak on the matter. unqualified trainer, professor, or writer assigns the role of scholar unto himself, guessing through an answer here, issuing a pronouncement there, with little regard for established industry standards. Seemingly innocent at first. But these same audience members then go out into the marketplace and begin putting what they learn to practice. If they remember nothing else from the trainer, they rarely forget his casual attitude towards the high standards of the Shariah, and his ready willingness to issue his own Fatwas a willingness they soon adopt. Non-scholar trainers may convey legal positions, but they may not create them.

This article is the first in a twopart series by Atif R. Khan, Managing Director of Ethica Institute of Islamic Finance (www.EthicaInstitute.com) Copyright 2011. Look out for part II in next months issue of Islamic Business & Finance

always gone hand in hand. Or perhaps it is the Islamic finance industrys natural tendency to replicate the conventional finance industry, and thereby errantly impose upon the Islamic educational paradigm a western educators sensibility. Whatever the origins of this mistake, Islamic finance is ultimately about Islam. And in Islam, accreditation is not about the sanctity of a particular hall of academia or the credentials of a professor; it is about the Islamic qualification of the accreditor qualification proper to a particular Islamic science, in this case the application of Islamic commercial law, and qualification proper to the individual or institution issuing the opinion, in this case a Fatwa. After all, it was the Prophet Muhammad (Allah bless him and give him peace) who said, Whoever is given a Fatwa without knowledge, his sin is but upon the person who gave him the opinion (Abu Dawud).1

Delivery standards in Islamic finance training span the spectrum from excellent to illegal When training content is anything less than 100 per cent standardized to AAOIFI, discrepancies between learner knowledge and market

Fatwa, or expert legal opinion of one or more Islamic scholars, is the highest level of accreditation granted to a transaction, product, or institution in Islamic

Of the many challenges now facing the Islamic financial industry, perhaps the greatest two are: 1. Accreditation by scholars, not

WHAT DOES STANDARDISED AND ACCREDITED TRAINING MEAN IN ISLAMIC FINANCE?

universities, degree programmes, professional bodies, and accrediting institutes have a place, no doubt, in

A number of Islamic finance trainers now work with guidebooks and other material that is merely authored by a scholar or supervised by a scholar

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Ethicas CIFE Fatwa

In the Name of Allah, Most Merciful and Compassionate

Ethica Institute of Islamic Finance Certified Islamic Finance Executive (CIFE) Certification Accreditation
I hereby certify that I have carefully reviewed each of the Ethica Institute of Islamic Finance Certified Islamic Finance Executive (CIFE) examination questions and find them to be correct and in full compliance with the Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI) Shariah Standards. I make this external validation and accreditation as a third-party scholar without compulsion and confirm that I am not compensated additionally for issuing a positive statement. I affirm that I have practical and theoretical experience in Islamic finance and have specific expertise in the Shariah Standards of the Accounting and Auditing Organization of Islamic Financial Institutions which I believe are the leading standard-setting rulings that pertain to Islamic financial transactions and Islamic financial institutions. It is without reservation that I offer my approval of this Certificate Examination. May Allah bless our Prophet Muhammad and give him peace, and his folk and Companions.

______________________________

Dr. Muhammad Zubair Usmani Shariah Advisor

______________________________

Witnessed Atif R. Khan, Managing Director

______________________________

Witnessed Sameer Hasan, Business Director

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Ethicas User Experience


More users prefer Ethica in repeated head-to-head surveys

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Flexible Testing and Certification

Ethica offers you the exibility of 3 testing options: Online Testing: Users test at their chosen location, whether at work or at home, and Ethica delivers the CIFE examination. The rigor and speed of our examination ensures limited benet in an open-book, open-assistance environment. In-House Testing: You provide the testing facilities, you control the high stakes assessment environment, and we deliver access to the CIFE examination. Ethica Institute Testing: We provide the testing facilities, the monitoring and assessment controls, and access to the CIFE examination.

Ethica Institute of Islamic Finances CIFE is an original work commissioned by Ethica. Beautifully-designed by classically-trained Islamic artists, custom calligraphered and framed by hand, each certificate is couriered to our clients doorstep.

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Newcomer to Advanced in Just 4 Months

Certificate

Level

Accreditation Objective

Modules Prerequisite Duration

CIFE

Our most popular certicate: rapidly train all your teams in the essentials of Islamic nance in just 4 months Deliver practical banking knowledge for immediate application or cross-selling across the bank Convey essential knowledge of Islamic accounting, covering the latest AAOIFI standards The most advanced certicate in Islamic nance capital markets, going through the products and the case studies that shape todays Sukuk market

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None

4 months

Advanced CIFE in Banking

II

31

CIFE

4 months

Advanced CIFE in Accounting

III

27

CIFE

4 months

Advanced CIFE in Sukuk

III

25

CIFE

4 months

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CIFE Level I 22 Modules

Understanding Islamic Finance Why Islamic Finance? Understanding Ijarah I - Islamic Leasing Understanding Ijarah II And Quiz Understanding Mudarabah I - Islamic Investment Understanding Mudarabah II Understanding Mudarabah III And Quiz Understanding Murabaha I - Cost Plus Financing Understanding Murabaha II Understanding Murabaha III And Quiz Understanding Musharakah I - Partnerships Understanding Musharakah II Understanding Musharakah III And Quiz Understanding Salam And Istisna I - Forward Sales And Manufacturing Contracts Understanding Salam And Istisna II Understanding Salam And Istisna III And Quiz Understanding Sukuk I - Islamic Securitization Understanding Sukuk II And Quiz Understanding Islamic Insurance And Quiz

Islamic Financial Innovation Liquidity Management I Liquidity Management II And Quiz Risk Management I Risk Management II And Quiz

The course was amazing. I thoroughly enjoyed learning about Islamic nance and look forward to enrolling in more advanced courses with Ethica in the near future. Nivita Pande Investment Analyst Abu Dhabi

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Advanced CIFE in Banking Level II 31 Modules


Understanding Islamic Finance Why Islamic Finance? Understanding Ijarah I - Islamic Leasing Understanding Ijarah II And Quiz Understanding Mudarabah I - Islamic Investment Understanding Mudarabah II Understanding Mudarabah III And Quiz Understanding Murabaha I - Cost Plus Financing Understanding Murabaha II Understanding Murabaha III And Quiz Understanding Musharakah I - Partnerships Understanding Musharakah II At The Bank: How To Perform Calculations How To Calculate An Ijarah Schedule I How To Calculate An Ijarah Schedule II And Quiz How To Calculate Diminishing Musharakah Schedule And Quiz How To Structure Mudarabah Deposit Accounts I How To Structure Mudarabah Deposit Accounts II And Quiz How To Perform Murabaha Calculations And Quiz Asset Pool Management In Islamic Finance I Asset Pool Management In Islamic Finance II

And Quiz Understanding Musharakah III And Quiz Understanding Salam And Istisna I - Forward Prot Calculation Framework For Deposit Sales And Manufacturing Contracts Accounts Understanding Salam And Istisna II Understanding Salam And Istisna III And Quiz Islamic Financial Innovation Understanding Sukuk I - Islamic Liquidity Management I Securitization Liquidity Management II And Quiz Understanding Sukuk II And Quiz Risk Management I Understanding Islamic Insurance And Quiz Risk Management II And Quiz

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Advanced CIFE in Accounting Level III 27 Modules


Understanding Islamic Finance Why Islamic Finance? Understanding Ijarah I - Islamic Leasing Understanding Ijarah II And Quiz Understanding Mudarabah I - Islamic Investment Understanding Mudarabah II Understanding Mudarabah III And Quiz Understanding Murabaha I - Cost Plus Financing Understanding Murabaha II Understanding Murabaha III And Quiz Understanding Musharakah I - Partnerships Understanding Musharakah II Understanding Musharakah III And Quiz Understanding Salam And Istisna I - Forward Sales And Manufacturing Contracts Understanding Salam And Istisna II Understanding Salam And Istisna III And Quiz Understanding Sukuk I - Islamic Securitization Understanding Sukuk II And Quiz Understanding Islamic Insurance And Quiz Islamic Accounting Standards Understanding Islamic Accounting I Understanding Islamic Accounting II Understanding Islamic Accounting III Understanding Islamic Accounting IV Understanding Islamic Accounting V Understanding Islamic Accounting VI Understanding Islamic Accounting VII Understanding Islamic Accounting VIII Understanding Islamic Accounting IX And Quiz

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Advanced CIFE in Sukuk Level III 25 Modules


Understanding Islamic Finance Why Islamic Finance? Understanding Ijarah I - Islamic Leasing Understanding Ijarah II And Quiz Understanding Mudarabah I - Islamic Investment Understanding Mudarabah II Understanding Mudarabah III And Quiz Understanding Murabaha I - Cost Plus Financing Understanding Murabaha II Understanding Murabaha III And Quiz Understanding Musharakah I - Partnerships Understanding Musharakah II Understanding Musharakah III And Quiz Understanding Salam And Istisna I - Forward Sales And Manufacturing Contracts Understanding Salam And Istisna II Understanding Salam And Istisna III And Quiz Understanding Sukuk I - Islamic Securitization Understanding Sukuk II And Quiz Understanding Islamic Insurance And Quiz Case Studies: In The Real World Sukuk Case Study I: How To Prepare Sukuk Documentation Sukuk Case Study II: The Nakheel Development Sukuk And The Aldar Properties Sukuk Sukuk Case Study III And Quiz: Comparing An AAOIFI-Compliant Sukuk With A Non AAOIFI-Compliant Sukuk Islamic Financial Innovation Liquidity Management I Liquidity Management II And Quiz Risk Management I Risk Management II And Quiz

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We upgraded to twice as many users after only 6 months with Ethica.


Moinuddin Malim, CEO, Mashreq Al Islami

Case Study:
Why Mashreq Bank Chose Ethica For Bank-Wide E-Learning

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CASE STUDY

What Mashreq Is Saying

We foresee unlimited opportunities for learning and growth with Ethica. Their e-learning solution combines the three things that we were looking for: scalability, quality, and industry Shariah standards. Ethica provided us with the exibility to train as many or as few bankers as we wanted throughout the year. Moinuddin Malim CEO, Mashreq Al Islami

certication examination to prove their learning. Ethica now makes my job easy: weekly reports, quiz and exam scores, and 24/7 tracking. All at my desk. Sameera Khan, Learning and Development Consultant, Mashreq Bank

My favorite part of the day is learning Islamic nance online with Ethica Institute. Mashreq Banker Finally, AAOIFI based industry training at my desk! Mashreq Banker

The case studies, quizzes, diagrams, and Rapid e-learning is the overall design really keep wave of the future. me engaged. And Ethica's e-learning because training videos brings engaging content come in 20 minute and appealing design. With Ethica we are able Yuvakumar Ramchander, chunks, I can t training to impart the basic Head, Mashreq Learning into my schedule any time understanding of Islamic Systems, Mashreq Bank I want. banking to our bankers in Mashreq Banker just 4 months with a

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CASE STUDY

Mashreqs Challenges, Ethicas Solutions

How do we train hundreds of bankers across hundreds of branches?


Ethica offers Mashreq the only 100% online solution in Islamic finance.

How do we deliver training that conforms to the banks Shariah standards?


Ethica offers Mashreq the only e-learning solution conforming to AAOIFI, the most widely accepted Shariah standard in the world.

How do we make e-learning interesting?


Ethica delivers Mashreq with interactive case studies, practical exercises, and quizzes, keeping bankers engaged throughout.

How do we stop wasting money on face-to-face crash courses?


Ethica reduces Mashreqs per employee training cost by upto $3,000 per employee per year.

How do we stop wasting time trying to develop our own elearning?


Ethica saves Mashreq over 20,000 man hours in training and development.
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CASE STUDY

5 Reasons Why Mashreq Upgraded After Only 6 Months


1. Return-on-Investment: Mashreq increases return on investment with knowledge process outsourcing (KPO) with a more motivated and knowledgeable workforce trained at a fraction of the cost. 2. 100% Online: Mashreqs bankers are scattered in numerous locations, so they were excited that Ethicas e-learning solution, complete with training, testing, and certification, could be delivered 100% online. 3. Flexibility: Mashreq enjoys the flexibility of Ethicas train-themwhen-you-want approach. 4. Standardized: Mashreqs bankers and scholars saw eye-to-eye on Ethicas AAOIFI-based standards, the most widely accepted Islamic finance standards in the world. 5. Assessment Dashboard: Module tracking, user activity, quiz and examination assessment, and certification delivery. All handled without ever leaving Mashreq.

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CASE STUDY

Ethica Empowers Mashreqs HR


Are you caught between using expensive external classroom trainers and trying to develop in-house elearning solutions? Ethica is your solution to all Islamic nance knowledge process outsourcing (KPO) challenges. We take care of all your end-to-end training needs at a fraction of the cost of hiring external trainers or developing your own training material. Ethicas e-learning allows you to: Cost-effectively transfer maximum knowledge in minimum time Use one solution for all your training needs Rapidly deliver engaging, selfpaced learning Administer formal assessments and gauge the effectiveness of courses Customize and manage all facets of online training Leverage your existing infrastructure

"But My Manager Says..."


Do Ethicas Shariah standards conflict with our bank's Shariah standards? We designed our training material to be detailed enough to be practical, and general enough to be useful to individual banks that have their own policies and practices. We follow internationally recognized standards already followed by the majority of the industry.

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CASE STUDY

Ethica now makes my job easy: weekly reports, quiz and exam scores, and 24/7 tracking. All at my desk.
Sameera Khan Learning and Development Consultant, Mashreq Bank

money. At Ethica, training 500 Does Ethica's training staff costs $395 per trainee per cannibalize HR functions? If year; and training 1,000 staff costs everything is done on computers, $235 per trainee per year. what happens to internal trainers? Internal trainers are indispensable Ethicas Dashboard: to Ethica: conduct bank-wide, CIFE training online at Ethica; Empowering Managers then deliver blended, high-level training face-to-face with HR and Weekly snapshots for quick training professionals. Without previews internal trainers, "blended" training Drill-down reports for detailed never happens. With Ethica, HR tracking and training managers become Schedule CIFE examinations for even more important. controlled testing and monitoring CIFE examination reports Won't we save money by Advanced search (including user, developing our own training? training module and/or date range) Knowledge process outsourcing, WYSIWYG: What you see on the or KPO, is one of the fastest screen is what you Print or Save growing sectors of the banking as Excel industry because it saves banks

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CASE STUDY

A Day At Mashreq Bank

8:58 AM Meeting with capital markets team to discuss Sukuk strategy for the week 10:49 AM At EthicaInstitute.com reviewing Sukuk Case Study Nakheel Development Sukuk And Aldar Properties Sukuk 1:34 PM At Emirates Towers Lunch with Legal Counsel to discuss Ijarah Sukuk documentation 4:01 PM At EthicaInstitute.com Spend 20 minutes going through Ijarah documentation module; Score 95% on the Quiz 4:33 PM Updating senior management on Sukuk structuring progress 6:07 PM On my Blackberry reading Q&As on Sukuk at EthicaInstitute.com

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CASE STUDY

The Case For E-Learning: Less Cost, More Learning


1. Travel costs = zero In tough times, employee travel gets slashed rst. And not just air travel, but also time spent travelling locally to training centers. Dow Chemical reduced average spending of $95 per learner per course on classroom training to only $11 per learner per course with e-learning, saving them $34 million. (Brandon Hall, Rosenberg 2001). Time is compressed in e-learning, since you do not have the logistics that come with classroom instruction: welcomes, introductions, delivery, and breaks. Since the biggest cost of any training is learner time spent in training, this makes a big difference to the bottom line. Ernst & Young cut training costs 35% while improving consistency and scalability by condensing 2,900 hours of classroom training into 1400 hours of blended e-learning.

2. Marginal cost of delivery = zero The cost of e-learning is all in the production. Theres no marginal cost of delivery rolling out e-learning to 100 or 10,000 learners costs 5. It gives learners more control the same. No classrooms, no additional E-learning is accessed on demand, giving trainer costs, no lunches, and no binders. your learners control over their time. Learners can access the material on the move or from 3. Management and HR have more home so can use down time productively. visibility on learning Repeating and reviewing complex material With e-learning tracking and assessment, you can be better accomplished with the click of have total visibility on what your learners are a button rather than scheduling meetings and doing. When, where, and how often they conference calls with live instructors, which access the training, how well they score, and may or may not even happen. how quickly they get certiedall easily (Source: Kineo 2008) measurable for maximum ROI. 4. Learner time is better spent E-learning is generally shorter than classroom training on the same subject by up to 25-60%

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With Ethica, our Islamic finance program now extends far beyond our physical campus.
Ishaq Bhatti, Associate Professor, La Trobe University

Case Study:
How Ethica Globalizes Your Campus

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CASE STUDY

What La Trobe University Is Saying


For the rst time ever, we now tap into the tremendous demand for Islamic nance from students all over the world. Ishaq Bhatti Associate Professor La Trobe University We just nished the Islamic nance professional development (IFPD) course, the rst of its kind in Australia. IFPD blends online modules from Ethica with on campus class lectures. Ethicas training videos were very rich and practical. They engaged students and enhanced the University learning experience. The research projects submitted by students indicate that they grasped the fundamental concepts very well. Ethica is a great business partner, prompt and professional at all times. Almir Colan Program Coordinator La Trobe University This course is primarily aimed at providing high quality training to cater for the growing need of the industry. It provides academic and industry knowledge of the products within the Islamic nance and banking industry in Australia and overseas. It is thus highly appropriate that La Trobe University is leading the way in the development of programs such as the one we are launching today. Professor Paul Johnson ViceChancellor La Trobe University

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CASE STUDY

...La Trobe University teams up with Dubais Ethica Institute, a world leader in Islamic finance training...

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CASE STUDY

Deliver E-Learning In 3 Easy Steps

You: Send Student Details to Ethica

We: Create Your Branded Login Page

You: Deliver E-Learning to Your Students

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CASE STUDY

How La Trobe Delivered The IFPD


Course Content
The course will cover the key principles underlying Islamic nance: Modes of Islamic nance such as Islamic leasing (Ijarah); Islamic investment (Mudarabah); receive IFPD certicate from La Trobe University as well as a CIFE (Certied Islamic Finance Executive),certicate from the Ethica Institute of Islamic Finance. The CIFE component relates to the online

modules offered by Ethica. The course will Cost-Plus Financing (Murabaha): Partnerships (Musharakah); Islamic Forward comprise of up-to-date practical knowledge designed to conform to the Selling and Manufacturing Contracts internationally acclaimed AAOIFI (Salam and Istisna), and; Islamic Securitisation (Sukuk). Other topics include: Global Development of Islamic Finance; Challenges for Islamic Financial Providers; Opportunities in Australia (Government policies and tax reforms); Islamic Capital Markets; Islamic Insurance (Takaful) and Islamic Banking Products. (Accounting and Auditing Organisation for Islamic Financial Institutions) standards.

Course Structure And Delivery


The course will include on-line modules, class activities and a research project that could potentially be adopted by nancial institutions. The idea behind the research project is to encourage students and professionals to take on projects that are practical and relevant to their individual interests and expertise.

Accreditation And Certication


The course, subject to approval, is accredited to the related masters programs at La Trobe University. Upon successful completion of the program, students will

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CASE STUDY

How La Trobe Delivered The IFPD (cont.)


Lectures And Modules
1. Complete rst set of online modules towards Ethicas CIFE certicate. This is done in order to prepare students for the face-to-face intensive course and to enable constructive discussions with the class and instructor. 2. Two days intensive course for local students (conductedat Melbourne Campus) and online for students abroad. 3. Complete second set of online modules for Ethicas CIFE certicate. 4. One-on-one research project consultation (by appointment). No prior knowledge or qualications are necessary.

Assessment
1. Certied Islamic Finance Executive (CIFE) Examination: 90 minute online exam with 112 multiple choice questions covering the "Understanding Islamic Finance" (18) and the "Islamic Financial Innovation" (4) modules. 2. Major project: A minimum of 2000 word essay to be approved by the course coordinator/director.

Course Duration
6 weeks

Who can enroll?


This course is available for local and international students who want to enhance their understanding of Islamic banking and nance, enter the eld or further their employment opportunities.

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CASE STUDY

FAQ For Universities

Our university offers a Degree/Diploma/ MBA in Finance. Will inclusion of Islamic banking be an appropriate move? This would be a very positive development for your university. Repeatedly universities have seen a dramatic increase in interest (and enrollment) when they announce a new Islamic nance program. It is on the headlines for weeks. The bottleneck is nding the right content to deliver the Islamic nance know-how. We hope that with Ethica those days are over. What form does Ethicas program

universities to absorb Ethicas training within their own program. The CIFE (Certied Islamic Finance Program) is a 4-month training and certication program, designed to conveniently t into a standard semester-based or executive training program. One must understand the 22 modules in the program before taking the exam so it is self-paced. We also have dozens of modules that are part of our Advanced CIFE certicates in Banking, Accounting, and Sukuk.

How many contact hours? The CIFE consists of 22 modules x 20 take? minutes, plus about 1 hour per module of All online or blended. We are the only self-study. We have dozens of modules that accredited Islamic nance program that we are launching as part of our Advanced delivers training and certication 100% online with the exibility to add face-to-face CIFE certicates later this year. One module consists of an approximately 20 training and testing conducted by you or minute training video comprising a variety us. of exercises, case studies, and quizzes, How long is it? along which the student is expected to The program can be compressed into as conduct his or her own self-study. little as 1 month or as much as 6 months. Experience with hundreds of other learners We designed the program to be exible for

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CASE STUDY

FAQ For Universities (cont.)

shows that the CIFE program is comfortably manageable in about 1 to 3 months of training and about 1 month or less of studying for the examination, enabling most users to complete the program in less than the 4 month access period. Are the courses academic in content or practical? We keep the content practical and add just enough theory to provide newcomers with a meaningful starting point. In terms of our standards, we follow the most widely followed Islamic nance standard in the world, AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions), and to our knowledge we are the only institute in the world to offer 100% AAOIFI-based training and certication. What entry qualications should students have? Ethicas program targets anyone with limited to no understanding of nance, and certainly anyone with no prior exposure to

Islamic nance. Ethicas CIFE graduates include non-nance majors, non-Muslims, and non-bankers. We designed the program to be comprehensible to newcomers but accelerated enough to get learners up to speed in a short period of time. Do students have to have an in-depth knowledge of Sharia law? No. Is it possible to turn Ethicas online program into 4 x 14 week courses thus giving a Certicate in Islamic Banking as part of the Finance Diploma/Degree/ MBA we currently offer? We are open to co-branding and would be happy to support you on a Certicate in Islamic Banking.

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Competitor Analysis

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Why Ethica? 5 Simple Reasons

Weve been there


We are the first and only institute in the world to successfully deliver bank-wide Islamic finance e-learning. Why take chances with anyone else?

#1 in popularity
Ethica is chosen by more people than any other organization in the world for Islamic finance certification based on independent survey estimates conducted with IFQ, INCEIF, IIBI, CIMA, university programs, and others.

100% online, anytime, anywhere


We offer the only 100% online Islamic finance program in the world. Case studies, exercises, quizzes, exams: everything is online so you are in complete control of your staffs training with Ethicas Dashboard. And best of all: no more waiting for guidebooks in the mail.

#1 in customer satisfaction: 99.9% customer retention


Ethicas CIFE program consistently ranks #1 in customer satisfaction. Period. Play a training module right now and compare for yourself. Try our free 7 day trial and compare our engaging, beautifully-designed modules with our competitors.

AAOIFI standards vs. Because we say so standards


We offer the only certificate in the world standardized to AAOIFI standards besides AAOIFI itself the most widely accepted Islamic finance standard in the world. Our competitors will occasionally offer their own version of what they consider to be Shariah-compliant, but we adhere to a known standard acceptable to everyone.

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Ask Yourself 7 Questions

1. Is the certicate recognized? Ethicas CIFE is accredited by leading Islamic nance scholars and bankers earning us the award nomination for Best Islamic Finance Training Institute (2 years running) from Islamic Business and Finance magazine in Dubai and the award nomination for Best Islamic Finance Qualication from Global Islamic Finance Awards in the UK. 2. Is the certicate standardized? Ethicas CIFE is the only third-party certicate in the world to conform to the industrys most widely-accepted standard. 3. Is the certicate up-to-date? Workbooks, CDs, and distance-learning courses grow old fast. Can you really be sure that your 3-year old workbook or last year's CD is up-to-date? With Ethicas CIFE, when Islamic nance innovates, our online content innovates right there with it. So you can be sure that you're never left behind. 4. Is the certicate prepared by professors or bankers? Ethicas CIFE is rigorously prepared by a team of bankers and scholars, not

professors. Ethica gets you from theory to advanced practical knowledge faster than anyone else in the market. 5. What happens after certication? At other institutes you may never have spoken to the trainer 1-on-1. Or received counseling. Or shared your concerns. Ethicas 1-on-1 Career Counseling helps guide your Islamic nance career. And Ethicas Recruiter Database gets you access to hundreds of industry contacts. 6. Can we afford your certicate? Our individual, group and corporate rates are designed to rapidly and costeffectively train and certify users in less than 4 months at rates lower than or comparable to our competitors. 7. Where is the institute based? According to Forbes Magazine, Dubai holds the title of Islamic nance hub. Anywhere else is just a compromise. Islamic nance trainers need to be where the action is. It is one thing to read about deals sitting far away, and quite another to be working with bankers and scholars who execute transactions for a living.

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Ethica is #1 in Customer Service


99.9% Customer Retention
IT Systems: Running on Rackspace, the Worlds #1 Hosting Provider, Around-the-Clock
With nine data centers around the world, Rackspace Fanatical Support and Cisco powered networks guaranteeing 100% network uptime, Rackspace is the obvious choice for Ethica. And downtime is attended to within seconds and triggers immediate contact with Ethica support staff, 24 hours a day, 365 days a year.

Operations and Customer Care: Rapid Responsiveness


Ethicas team of operations, technical, and administrative support staff respond to client queries, comments, and suggestions within 24 hours, 365 days a year. No ifs, ands, or buts. We begin working on your request right away and, depending on the level of complexity, achieve rapid resolution to your satisfaction. To date, we have a 99.904% customer retention record.

Management: Caring, Personalized Service


Ethicas senior management responds to client queries, comments, and suggestions within 24 hours on every business day of the year. Most requests are responded to on or before deadline and call-in and meeting opportunities are available on short notice.

Shariah Advisory: World-Class Scholars Ethicas team of scholars and subject matter experts respond to advisory requests in priority time, with most Islamic finance questions answered within 3 to 5 days, and most advisory requests, including product approvals, responded to in days or weeks. We endeavor to always respond in less time than has now become acceptable within the Islamic finance industry. Editorial
Ethicas 100% online platform gives us a clear advantage over guidebook and email based distance programs. We respond to client queries within 24 hours, depending on the degree of complexity, and as a one-stop subject matter company, offer vertical customized solutions at the best rates.

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Rates and Volume Discounts

Number of Users 1 2 to 7 8 to 19 20 to 39 40 to 69 70 to 99 100 to 299 300 to 599 600 to 999 1,000 to 1,499 1,500 to 2,000

Rate/User $1,495 $1,295 $1,095 $995 $895 $745 $595 $395 $295 $235 $199

Discount -13% -27% -33% -40% -50% -60% -74% -80% -84% -87%

Access Period 4 Month Access for Individuals and Small Groups

1 Year Access for Corporates

30 Day Risk-Free Satisfaction Guarantee

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Ethica is #1 in Cost Savings

Large Bank: I want to certify 1,000 customer-facing bankers.


Your Most Cost-Effective Choice: 1-Year Corporate License What You Get (With No Hidden Charges): The CIFE, framed, and delivered to all successful candidates Unlimited access to all premium content for 1 year Weekly employee progress reports Total Cost: $235,000/year Total Cost Per Employee: $235/year

University: I want to create a semester course for 30 students.


Your Most Cost-Effective Choice: 4-Month Academic License What You Get (With No Hidden Charges): The CIFE, framed, and delivered to all successful candidates Unlimited access to all premium content for 4 months Total Cost: $29,850/semester Total Cost Per Student: $995/semester

Medium-Sized Bank: I want to train and certify 300 bankers.


Your Most Cost-Effective Choice: 1-Year Corporate License What You Get (With No Hidden Charges): The CIFE, framed, and delivered to all successful candidates Unlimited access to all premium content for 1 year Weekly employee progress reports Total Cost: $118,500/year Total Cost Per Employee: $395/year 39 www.EthicaInstitute.com

Competitive Analysis
Certification Cost 100% Online? 100% AAOIFIBased
Yes

Scholar Courses Certification Fatwa

Ethica CIFE

$1,495

Yes

Yes

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1 CIFE + 3 Advanced CIFE 1 Diploma

IIBI (Institute of Islamic Banking and Insurance) INCEIF (International Centre for Education in Islamic Finance) CIMA (Chartered Institute of Management Accountants) IFQ (Islamic Finance Qualication) AIMS (Academy for International Modern Studies) Shape Financial

$1,890

No (Distance learning) No (Classroombased delivery) No (Distance learning)

No

No

$6,850

No

No

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1 CIFP

$2,300

No

No

1 Cert IF

$1,320

No (Distance learning) No (Distance learning) No (Classroom and Online)

No

No

1 IFQ

$1,000

No

No

1 CIFE

$5,505

No

No

12

1 CIFA

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Ethica vs. Distance Courses

Ethica offers the only 100% online program in Islamic finance. Anything less than 100% online is going to cost more, take longer, and deliver less. Our competitors offer: Distance Courses (80-90% online) Sometimes called online, these are not online programs but rather correspondence courses. They are emailbased, telephone-based, and rely heavily on guidebooks received through postal delivery. Their greatest drawback is the difculty of scaling such programs across large organizations while keeping the Islamic nance content up-to-date with the industry. CDs (0% online) Compact discs run on desktops for computer-based training. The major drawback with CDs is that there is no certication process without an expensive testing process, there is no online connectivity with the vendor, and upgrades to content require purchasing new CDs. Classroom Delivery (0% online) Expensive, time-consuming, and in many ways less effective than e-learning in imparting knowledge, classroombased training is simply outdated when compared with online programs for rapid information transfer.
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Inside Ethica

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The Most Powerful Training Engine In Islamic Finance


The Power of a Proprietary LMS Ethicas proprietary Learning Management System (LMS) is the product of a concerted 3-year, $1 million effort designed to give clients greater power and freedom to manage their internal training needs. An off-the-shelf solution, while less expensive, lacks the customization offered by a proprietary system. 360 Degree Reporting and HighStakes Testing and Certication We offer corporate license members the ability to track every users training module, quiz, and certication exam. This means that we can tell how much time a user spends on each module, quiz, or exam, the number of times he or she accesses it, and the date and time it was accessed. Our reporting engine
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allows you to generate reports based on start date, end date, member ID, and module. We also enable corporate license members to customize pre-scheduled certication exams, restrict testing to a given location, and, if requested, allow or deny multiple attempts for the certication exam. Open Learning Paths Years of experience training a wide variety of banks teaches us that bankers bring a broad cross-section of experience levels and training needs. For example, a Risk Manager may already understand Mudarabah Deposit Accounts, and needs to skip directly to Risk Management, rather than be forced to learn at the same pace as a Relationship Manager new to Islamic nance.
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Customized Solutions

Ethica specializes in customized white label solutions for corporate clients. As a one-stop content production, approval, and delivery training institute, our clients leverage a depth of in-house experience unmatched in the industry. Your brand name. Our training content. It's that simple. Risk free, costeffective, and a gateway to an entirely new global delivery channel through the Internet. Customized Training Modules We bring extensive experience in creating customized solutions for banks, universities, and media organizations. The client has the option to provide Ethica with the basic content or not and we create the customized learning platform, complete with training modules, examinations, specialized learning tracks, and branded certications.

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Time and Cost Estimates

How Long Does it Take to Create E-Learning?


Ethica offers vertically integrated customized learning solutions. We take care of the content creation, production, design, delivery, and testing phases to offer you a complete outsourced solution. Based on industry standards (Source: Brandon Hall Research), and upgraded and streamlined due to Ethicas advanced in-house capabilities, we estimate the following benchmarks:

Phase
Content Creation: Researching, writing, and editing scripts for learning delivery Module Production: Recording, post-production editing, and synchronizing with visual content Module Design: Creating layouts, moving objects, visual prompts, and all design-related content Module Delivery: Integrating raw content into a learning management system Testing: Conducting tests with client side systems to ensure effective delivery

Estimated Duration Per Module


30 hours 15 hours 15 hours 5 hours 5 hours

Estimated Cost Per Module

$9,950

Sample quote based on 10 customized 20 minute modules requiring 700 man hours of work (87.5 man days at 8 hours/day, or 2 to 3 months for project team): $99,500
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Time and Cost Estimates (cont.)


Ethicas Customization Team consists of: Instructional Designer Ethicas instructional designer works collaboratively with the subject matter expert and the editorial team to deliver objectives, activities, sequencing, and evaluation methods in order to meet the goal of the instruction. Subject Matter Expert (SME) Ethicas subject matter expert is an Islamic nance banker, scholar, or lawyer who brings practical execution experience to the instructional design process. Graphic Designer Ethicas designers develop industry best-practices interface design for an optimal user experience. This process includes page layouts, graphics, colors, and media to support the instructional objectives. Editorial Team Ethicas editorial team works closely with the SME to ensure effective lucidity, layout, usability, and style guidelines. Management The company and project management work closely with the client to ensure ontarget iterative deliverables and on-deadline testing and launch dates. These individuals regularly liaise with the client to ensure that ongoing objectives are being met. 46 www.EthicaInstitute.com

Advisory Services

Ethica offers Shariah advisory services in three areas: Shariah Reviews: Ethica conducts annual and quarterly product and transactional reviews for Shariah compliance. Shariah Approvals: Ethica approves and certies products and transactions for Shariah accordance with AAOIFI and IFSB standards. Shariah Documentation: Ethica creates new documentation or restructures existing documentation for Shariah compliance.

Mufti Zubair Usmani is one of the worlds most reliable Islamic nance scholars and works with Ethica on Islamic nance advisory assignments, leveraging over 20 years of practical fatwa experience in commercial law.

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Face-to-Face Training

Ethicas CIFE is also offered as a faceto-face program designed to take complete newcomers to an advanced-level of understanding in Islamic nance. We offer 1 to 10 day blended learning programs, conducted face-to-face and supplemented by Ethicas online CIFE program. Face-to-face training includes: Classroom Delivery: 1 to 10 days of or on-site at the clients premises. Online Delivery: Access to all of Ethicas premium training modules 24hours a day for 2 months. Practical Knowledge: In-depth practical knowledge of the underlying product structures used in Islamic nance.

CIFE Certication: Ethicas training material is overseen and approved by leading Islamic nance scholars. Ethicas scholars certify that the CIFE examination conform to AAOIFIs Shariah standards Train-the-Trainer: Personalized Instruction: We conduct both 1-on-1 and small classroom instruction in order to train your trainers. Hotline Access: In addition to classroom delivery and CIFE certication, your trainer gets Ethica Hotline Access, with an opportunity to speak to an Ethica subject matter expert regularly throughout the year.

face-to-face training at Ethicas facilities Premium CIFE Certication and

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Ethicas Shariah Standards

Shaykh Yusuf Talal DeLorenzo is one of


the worlds leading Islamic nance scholars and serves in an advisory capacity at Ethica Institute. Based in Dubai, he also serves as a Shariah advisor to dozens of international nancial entities, including index providers, institutional investors, home nance providers, international investment banks and a variety of asset managers. Shaykh Yusuf is a member of Shariah Board of the Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI), Council of Scholars, and ISRA. He is the author of the three volume Compendium of Legal Opinions on the Operations of Islamic

Islamic Asset Management, Islamic Retail Finance, and Islamic Finance: Innovation & Growth. His entries on the terminology of Islamic nance appear in the Oxford Dictionary of Islam. Shaykh Yusuf was a special consultant to the Asian Development Bank and the Islamic Development Bank on their joint project for the Islamic Financial Services Board (IFSB). He served as Advisor on Islamic Education to the President of Pakistan from 1981-1984. His career has been noted in the Financial Times, New York Times, Fortune, Forbes, US News and World Report, Newsweek, CNBC, Conde Nast Portfolio,

Banks, the rst English and Arabic reference on Middle East Banker, and others. His 30 year career was featured in an August 2007 front the fatwas issued by Shariah boards. In addition, Shaykh Yusuf wrote the introduction to Islamic Bonds, the book that introduced Sukuk and transformed the world's Islamic capital markets. His work has appeared in academic and industry journals and as chapters in books, including Euromoney's page story in the Wall Street Journal.

Dr. Muhammad Zubair Usmani (Mufti)


is a Shariah Consultant at Ethica Institute where he reviews and approves our certication and handles training and

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Ethicas Shariah Standards (cont.)


consultancy work on a case-by-case basis. As one of the world's leading Islamic nance scholars and a noted expert on AAOIFI Shariah Standards, he also serves as a Shariah Advisor at Muslim Commercial Bank, Pak-Qatar Takaful, and ICAP's Accounting Committee where he oversees the development, execution and compliance of Islamic banking products. He is increasingly involved with a variety of sukuk and private equity related forums around the world and is an active trainer in all areas of Islamic nance. He is a regular featured speaker at the National Institute for Banking and Finance, Jamia Darul Uloom, and the Centre for Islamic Economics, and is an internationally recognized scholar in Islamic from Jamia Darul Uloom. worked with leading Islamic nance scholars administering and implementing expert legal opinions according to AAOIFI Shariah Standards. He also provided introductory training in Islamic nance to new employees at Dubai Bank. Tariq is involved with developing Ethica's material from both a legal perspective as well as a pedagogical one. He has a degree in Islamic Studies from the College of Shariah and Islamic Studies at the University of Sharjah and a Bachelor's from Stanford University.

Yusuf Jha is a Chartered Sharia Auditor and


Advisor formally certied by AAOIFI (Accounting and Auditing Organization for works for a major Islamic Bank in the GCC as Senior Sharia Controller. Alongside his daily tasks of consultancy and auditing he often presents products and ideas to his Sharia Board, which includes Mufti Taqi Usmani,

nance. He holds the Alamiyyah and Takhassus Islamic Financial Institutions) and currently

Tariq Bujasaim is a Shariah Consultant at


Ethica Institute. He worked as a Senior Shariah Auditor at Dubai Bank where he

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Ethicas Shariah Standards (cont.)


Chairman of AAOIFI. Prior to his current role, in London. A graduate from the University of Birmingham, UK, he also worked as a Corporate Trainer and Systems Analyst at Accenture. He has received formal training in Islamic wills and inheritance tax and investment planning in the UK; and is qualied as a UK Chartered Independent Financial Advisor (IFA). in New York and London, executing mergers transactions, and Chief Financial Ofcer of Iprox Limited in London. Atif earned a Bachelor's summa cum laude from the University of Massachusetts, Amherst and a Master's from Harvard University.

he worked for BMB Islamic and Dar Al Istithmar and acquisitions and corporate nance

Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) All certications, examinations,
training videos, quizzes, and Q&As at Ethica Institute of Islamic Finance are based on AAOIFI's latest Shariah Standards. AAOIFI is the world's leading standard-setting body for Islamic nance and are chosen by many of the major nancial centres of the world. We are independent of AAOIFI and promote their standards in order to foster greater Shariah convergence and increased clarity among nancial institutions who wish to better manage their product development and Shariah teams.

Atif R. Khan is Managing Director at Ethica


Institute. Previously he was Director of Islamic Finance at BankT&D. In addition to working closely with Islamic nancial institutions on product development, Atif studied the Shariah sciences for ve years in Pakistan, the last years of which were spent one-on-one with some of the world's leading Islamic nance bankers and scholars. His earlier conventional nance experience includes investment banking at Morgan Stanley

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Ethica in Recent News

Islamic Finance Heads Down Under: Australia Launches its First Islamic Finance E-Learning Program DUBAI, UAE December 6, 2010: Today the leader in Islamic finance training and certification, Ethica, announced the launch of a new Islamic finance for-credit course at one of Australia's leading universities. This will be the first time ever that a 100% online course in Islamic finance is offered as part of an oncampus course. Enrolment for the award-winning Master of Islamic Banking and Finance (MIBF) program is now open and online classes begin next month on January 10, 2011. Ethica Institute Makes History at Mashreq Bank: Delivers First Bank-Wide Islamic Finance ELearning DUBAI, UAE November 2, 2010: Islamic finance just got one step closer to addressing its biggest problem: a lack of qualified bankers and scholars. Today, the UAE's largest private bank, Mashreq Bank, rolled out the first ever bank-wide Islamic finance e-learning solution at its Islamic banking division, Mashreq Al Islami. Hiring Ethica, the Islamic finance e-learning institute, brings Mashreq 100% online Islamic finance training and certification across their entire network of branches. Ethica and Zawya Announce Partnership DUBAI, UAE September 21, 2010: Ethica Institute of Islamic Finance and Zawya today announced a partnership to jointly deliver online Islamic banking courses and certification. Ethica Institute's certification is chosen by more professionals and students than any other Islamic finance certificate in the world, and Zawya is widely regarded as the leading provider of business and investment intelligence in the Middle East. Ethica Institute at G20 Islamic Finance Summit: Promoting Education DUBAI, UAE June 28, 2010: The G20 Islamic Finance Summit recently brought together Islamic finance experts from around the world to discuss the changing role of the industry amid the continuing global financial crisis. The summit was held on June 28 at Ryerson Universitys Ted Rogers School of Business and was opened by Derek Lee MP, federal member of the Canadian parliament. Edcomm Banker's Academy and Ethica Institute of Islamic Finance Announce Partnership DUBAI, UAE June 15, 2010: The Edcomm Group Bankers Academy and Ethica Institute of Islamic Finance today announced a partnership to work together to enhance the training programs they offer to the Islamic Finance community to provide the best possible solution to their clients worldwide.

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Ethica in Recent News (cont.)

Ethica Launches the Worlds Largest Database of Islamic Finance Q&As DUBAI, UAE June 15, 2011: The most popular Islamic finance training website today announced the launch of a freely accessible database of Islamic finance Q&As. With over 800 scholar-approved answers to commonly asked technical questions, Ethicas Islamic finance Q&A database is now the worlds largest inventory available online. Dubai Eye FM103.8 Interviews Ethica DUBAI, UAE May 23, 2011: Dubais leading business news radio program interviews Ethica about Islamic finance, the need for training and the importance of standards. Guidance Introduces Landmark Islamic Finance Training for American Imams RESTON, VA April 25, 2011: Guidance Residential (Guidance), announced today the formation of the American Islamic Finance Project (AIF) which is a collaborative effort between the Islamic Society of North America (ISNA), Ethica Institute of Islamic Finance (Ethica) and Guidance to provide the firstever Islamic finance training to over 100 American imams. Government of Dubai Invites Ethica to European Trade Delegation DUBAI, UAE April 4, 2011: Europe move one step closer to Islamic finance today when the Government of Dubai announced that it is inviting Ethica Institute of Islamic Finance on a high-level trade delegation to France and Germany. With over 20,000 paid users in over 40 countries, Ethica is the leading Islamic finance training institute in the world. Ethica Receives Award Nomination for Best Islamic Finance Qualification LONDON, UK March 14, 2011: Global Islamic Finance Awards (GIFA) in the UK nominated Ethica Institute of Islamic Finance for the award of Best Islamic Finance Qualification. Zawya and Ethica Launch Advanced Certification in Islamic Finance (ACIF) DUBAI, UAE February 28, 2011: Zawya, the Middle Easts leading business news provider, and Ethica, the worlds leading Islamic finance training and certification institute team up to launch the industries most advanced certification in Islamic finance capital markets. To see all news items, visit http://www.EthicaInstitute.com/Blog

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"I have reviewed these online sessions and I am very impressed with what I see. They provide a solid foundation that is fundamental to fully understanding Islamic finance.
Professor Walid Hejazi Rotman School of Management, University of Toronto What Next? Visit us at www.EthicaInstitute.com and join our growing community today. Location: Ethica Institute of Islamic Finance Fairmont Tower, Suite 508 Sheikh Zayed Road PO Box 127150 Dubai, UAE Emails are responded to within the same day, usually a few hours: contact@ethicainstitute.com We take calls Sunday to Thursday from 9am to 5pm Dubai time: +9714 311 6724 Fax? If you insist: +9714 332 8810

ETHICA INSTITUTE OF ISLAMIC FINANCE 2011-15. All rights reserved. Ethica Institute of Islamic Finance is a training, certication, and advisory company.

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