Ethica Institute of Islamic Finance will roll out a fully Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI)-compliant certification to Australia, Malaysia, Singapore, and New Zealand.
“Because of the vast distance between the Gulf and southeast Asia, the two regions historically developed their industries quite separately from each other. With Ethica’s 100% online platform, we finally bridge the distance with globally recognised certification that harmonises standards across regions,” said an Ethica spokesperson. The institute leads the Islamic finance certification industry with over 20,000 paying users in 44 countries and a network of resellers in 10 countries.
Ethica’s license went to Equitable Financial Solutions and grants marketing and selling rights for Australia, Malaysia, Singapore, and New Zealand. Now Ethica’s four-month Certified Islamic Finance Executive (CIFE) programme is delivered 100% online. This means that these countries are now connected to the same standardised training delivered in Dubai, Bahrain, and London.
The country is expected to survive the review, which it must do to retain its place in the European Central Bank’s asset purchase programme.
The bank believes that the battered UK currency, recently only just holding above the US$1.20 level, could be trading at US$1.36 by this time next year.
The Middle East oil producer’s debut global bond issue surpassed the total of US$16.5bn raised by Argentina when it tapped the market earlier this year.
The group reports that currency fluctuations were less of a challenge to multinationals in the second quarter of 2016, but Brexit has since spelt a return to volatility.