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--- On Mon, 7/12/10, Atif R Khan (Ethica Institute of Islamic Finance)
<[email protected]> wrote:
From: Atif R Khan (Ethica Institute of Islamic Finance)
<[email protected]>
Subject: Ethica Institute at the G20 Islamic Finance Summit
To: "mousa" <[email protected]>
Date: Monday, July 12, 2010, 4:33 AM
Ethica Institute at G20 Islamic Finance Summit: Promoting Education
TORONTO June 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 University’s Ted Rogers School of Business and was opened
by Derek Lee MP, federal member of the Canadian parliament. Among the topics
discussed at the event, education figured prominently, with experts stressing
the importance of promoting standardized Islamic finance education.
Ethica Institute of Islamic Finance’s MD, Atif Khan, said, “We look forward to
a day that academic and training institutes adhere to a recognized Shariah
standard. One in which educators work with Islamic finance scholars to follow
AAOIFI, the most widely-accepted Shariah standard in the industry.” Presently,
academic institutes obtain external accreditation from conventional institutes,
unlike Islamic financial institutions that retain the services of Islamic
finance scholars to approve products.
Amid growing concern about the sustainability of interest-based finance, there
is burgeoning interest among conventional institutions, both financial and
academic, in exploring Islamic finance as an option. Stephen Ranzini, CEO of
US-based University Bank, cited his own experience in marketing Islamic finance
products to conventional customers: “The results were so compelling that…90% of
the customers are non-Muslim,” he said. With so much growing interest in
Islamic finance in the wake of the global financial crisis, the summit’s
experts agreed that, as finance professor in attendance Ayse Yuce stated,
“Education is extremely important.”
For media coverage of the G20 Islamic Finance Summit, see the following
interviews on BNN (Business News Network).
The Street : June 28, 2010 : G20 & the State of Islamic Finance [06-28-10 8:50
AM]
BNN takes a look at the state of Islamic banking which proved to be the least
vulnerable to losses and the least affected by the negative impact of the
global financial crisis. Shahzad Siddiqui, executive director, UFANA, updates
the current state of the sector.
Watch Interview
Market Morning : June 28, 2010 : Islamic Finance & Canadian mortgages [06-28-10
10:40 AM]
Guy David, partner, Gowling Lafleur Henderson, explains the potential for
Islamic finance in Canada, including its application to residential mortgages
and the capital markets.
Watch Interview
Market Morning : June 28, 2010 : Islamic Finance Products Bolster U.S.
Community Bank Profit [06-28-10 10:50 AM]
Stephen Ranzini, president & CEO, University Bank, explains how Islamic finance
products bolster University Bank's bottom line.
Watch Interview
©2010 Ethica Institute of Islamic Finance™ | PO Box 127150, Dubai, UAE | Off:
+9714 305 0782
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