The Islamic Reserch and Training Institute (IRTI) of the Islamic Development Bank (IsDB); Saudi-Spanish Center for Islamic Economics and Finance (SCIEF), IE Business School, Madrid; and Islamic Economics Institute (IEI) of King Abdulaziz University (KAU), Jeddah have resolved to deepen their collaboration to promote capacity development in Islamic finance.
The three institutions are long-standing partners, jointly managing programs that include the highly successful International Executive Program in Islamic Finance held annually in Jeddah, Saudi Arabia.
During a meeting held at IRTI Headquarters in Jeddah, heads of the institutions evaluated on-going joint activities and discussed various potential areas of future cooperation.
The meeting was attended by IRTI Director General, Dr. Humayon Dar; SCIEF Director, Dr. Celia de Anca; SCIEF General Coordinator, Mr. Gonzalo Marin; Dean of IEI, Dr. Abdullah Turkistani; and Dr. Kaleem Alam of KAU.
Speaking during the meeting, Dr. Dar said IRTI was committed to a sustainable partnership with SCIEF and KAU to continue to support capacity development in Islamic finance.
The meeting discussed the Executive Program in Islamic Finance, and agreed to enhance the program to make it more beneficial to both participants and the organizers.
Potential cooperation was also discussed to explore how to expand the scope of the Sustainable Development Goals (SDGs) for the benefit of IsDB member countries.
The meeting decided to enhance the existing Islamic financial products development competition such that focus would be on developing innovative ideas to resolve challenges facing Islamic FinTech, and creating a product development lab for innovative projects aimed to resolve specific issues in the field of Islamic finance.
A short-term internship program will also be considered for students of Islamic economics and finance to spend up to three months in IRTI to work on innovative projects in Islamic finance.
The meeting similarly resolved to explore partnership with other institutions offering professional certificates in Islamic finance.