New Delhi: India is also seeking to grow in the sector of Islamic Finance and different institutions in the country are working to enhance the sector’s reach. For the same effort, a new Management Development Program on “Islamic Banking & Finance”has been introduced by the Indian Institute of Management (IIM) Kashipur.
IIM Kashipur has announced that the new Management Development Program on “Islamic Banking & Finance” will be held at the India Islamic Cultural Center in New Delhi on August 24-25, 2013.
The program is the first such executive course offered by a leading business school in the country on Islamic banking, which is considered the largest alternative financial system in the world today, growing at double digit growth rates with a presence in 75 countries and a total size of approximately of $2 trillion.
The program is designed to give participants a thorough grounding in the key concepts, products and applications of Islamic banking and finance along with an understanding of the latest developments in this industry and ideas for its implementation in India.
Announcing this initiative, Prof. K.M. Baharul Islam, Chairperson (Planning and Development) at IIM Kashipur explained that the need for such a program in India given the huge interest in this subject among various sections and the growing demand for Islamic finance and banking solutions in the country. The program will be conducted in partnership with Infinity Consultants, a Bangalore based advisory firm focused on training and development of Islamic finance in India.
Commenting on the program, Saif Ahmed a former Islamic banker and Managing Partner with Infinity Consultants, stated, “India offers a huge potential to develop innovative Islamic finance solutions that are based on ethical foundations in areas such as microfinance, consumer funding and cross border Shariah-compliant infrastructure investments within existing regulations, and for this we need qualified human capital that this program seeks to develop. We are very excited about partnering with IIM Kashipur on this new venture and hope to conduct similar programs going forward.”