Centre for Excellence in Islamic Finance was established at IBA with the objective of providing a platform for discovery, enhancement and dissemination of knowledge in the field of Islamic Finance. It aims to be a world class Centre which through education and research, carries on the IBAโs legacy of thought leadership in the Islamic Finance industry. Globally, Islamic Banking assets have witnessed a CAGR of 17% over a period of last 5 years exceeding USD 778 bn in 2014. In Pakistan, the Islamic Banking assets growing at the CAGR of 30% at present are at 12% of the total banking assets, expected to exceed 15% by 2020. This exponential growth of the industry has led to the vacuum of trained human resource at all levels. A wider array of products which are distinctively Shariโah Compliant are also the need of the hour which would lead the industry to clearly differentiate itself in the market. CEIF has been established to meet this need for greater research and training. CEIF, based at IBAโs City Campus, at 6th Floor of Aman Towers, will offer Short courses, Executive training programs, Degree programs and later on Phd pograms as well. In this regard, it is finalizing an MOU with Malaysia based University: INCEIF. In line with its aim to provide demand driven training, IBA has entered into a strategic partnership with Meezan Bank Ltd. to establish CEIF. The Board of Management of the Centre includes CEOs of major market players and regulators with Dr. Ishrat Husain as the Chairman. This strong linkage with the industry will enable the Centre to achieve its key objectives, which include:
To provide trained human resource to the industry to take it to the next level of maturity
To conduct quality research and document case studies for enhancing and disseminating knowledge. To be a platform for debate, discussion and discourse on current issues and best practices around the globe. It is actively negotiating with various multilateral institutions to assure quality and best practices in this field. To provide a network of global outreach. In this regards, an International Lecture Series has been launched where various leaders of the industry from around the globe will be invited regularly for training sessions to bridge the knowledge gap. To advance theory of Islamic Economics and Finance and its role in the society
To establish a data centre with best local and international resources. CEIF was established on October 1st, 2015 with the help by State Bank of Pakistan (SBP) financed through a program by DIFD, UK. Board of Management, CEIF:
The Founding members of Board of Management (BoM) of Centre for Excellence in Islamic Finance include:
Dr. Ishrat Hussain, Chairman CEIF,
Mr. Irfan Siddiqui, CEO Meezan Bank Ltd.,
Mr. Hassan Bilgrami, CEO BankIslami Ltd.,
Mr. Shafqaat Ahmed, CEO Al Barakah Bank Ltd.,
Mr. Junaid Ahmed, CEO Dubai Islamic Bank,
Dr. Imran Usmani, Shariโah Advsior, Meezan Bank Ltd.,
Mr. Samar Hasnain, Executive Director, Development Finance Group, SBP and
Mr. Ahmed Ali Siddiqui, Founding Director of CEIF.
