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Cooperation and Collaboration

IIBI has built relationships and collaborated with important institutions to promote Islamic finance education and thought leadership in the Islamic  finance industry.

UKIFS (part of TheCityUK): IIBI is a member of the UK Islamic Finance Secretariat and is a member of the ETQ Committee to promote the United Kingdom as a centre of excellence through UK qualifications that are widely recognised for its robustness and quality. The UKIFS was originally set up by the UK Trade and Investment (UKTI) to promote the UK as a leading centre for Islamic finance. The UKIFS is a supporting organisation for IIBI events. Because of IIBI’s long history, IIBI was considered a valuable source of information to the extent that UKIFS offered IIBI a prominent space on their new website, assist in sourcing venues, promote IIBI qualifications, etc. (Keith Phillips’ email Aug 24, 2011 refers).
Markfield Institute of Higher Education (MIHE), UK: they were established in 2000 with the objective of being a centre of creative excellence in academia guided by Islamic ethos. MIHE will admit holders of IIBI Post Graduate Diploma in Islamic Banking and Insurance and Post Graduate Diploma in Islamic Banking to the MSc in Islamic Economics, Finance and Management Programme, with exemptions for two modules. The Master’s degree is awarded by the Newman University, Birmingham, United Kingdom.
Campus and accommodation: Markfield Institute, Leicester, United Kingdom
Auditing and Accounting Organisation for Islamic Financial Organisations (AAOIFI), Bahrain: IIBI acts as the examination centre for their students in Europe and the United Kingdom. AAOIFI is offering two Professional Certificates, the Certified Islamic Professional Accountant (CIPA) and the Certified Shari’ah Adviser and Auditor (CSAA). CIPA is the only internationally recognised qualification in accounting for Islamic financial institutions, catering for all banking, investment and Takaful segments. The AAOIFI is an Islamic international autonomous non-for-profit corporate body that prepares accounting, auditing, governance, ethics and Shari’ah standards and capacity building programmes for Islamic financial institutions and the Islamic finance industry. It is supported by a number of institutional members, including central banks and regulatory authorities, financial institutions, accounting and auditing firms, and legal firms, from over 45 countries. Its standards are currently followed by all the leading Islamic financial institutions across the world and have introduced a progressive degree of harmonisation of international Islamic finance practices.

Bangladesh Institute of Islamic Thought (BIIT) and Bangladesh Institute of Islamic Finance (BIIF), Dhaka, Bangladesh: IIBI is assisting the BIIT and its subsidiary BIIF with learning and training material on Islamic banking and takaful. BIIT was founded by a group of renowned academicians, Islamic thinkers and policy makers of Bangladesh as an independent think tank. Many scholars, researchers and experts of different fields have been closely associated with this institution in doing research, translation, publications, teaching training, education and consultation with a goal of Reconstruction of Thought and Integration of Knowledge. BIIT also functions as the Bangladesh affiliate of International Institute of Islamic Thought (IIIT), USA. BIIF was established as a subsidiary of BIIT to act as a centre of excellence in training, teaching, research, publications, education and consultancy through creating the best learner-centred environment for Islamic banking, insurance, and business professionals.

Epistemological Integration in Academic Disciplines: International Workshop at BIIT in Dhaka, Bangladesh, 2019. Dr M. Abdul Aziz, Managing Director and CEO in the centre.
Islamic Shari’ah Research Academy for Islamic Finance (ISRA), Malaysia: IIBI has held a number of  one-day annual thematic workshops in London with ISRA. The central ongoing theme is on moral responsibility in corporate governance. ISRA was established by the government of Malaysia to promote applied research in the area of Shari’ah and Islamic finance; it also acts as a repository of Shari’ah views and rulings on contemporary issues in the Islamic financial industry.
Dr. Mohamad Akram Laldin, Executive Director ISRA, (on left) with Mufti Barkatullah, one of the UK's foremost Shari'ah scholars and member of IIBI Shari'ah Advisory Group at the Annual IIBI-ISRA Thematic Workshop on ‘Legal Compliance and Moral Responsibility in Islamic finance’ held in London, UK in 2012.

Islamic Finance Council (IFC), United Kingdom: to explore collaborating on new research. IFC is a not-for-profit body established to promote and develop the Islamic finance industry.

Islamic Development Bank (IDB) / Islamic Research and Training Institute (IRTI), Saudi Arabia: IIBI have held a number of joint programmes with the IDB/IRTI. The IDB group is a multilateral development financing institution, created to foster the economic development and social progress of its member countries and Muslim communities (individually as well as jointly) in accordance with the principles of the Shari’ah. The IRTI which is part of the IDB group undertakes research, training and knowledge generation activities on economic, financial and banking issues.

Global Learning Centre & IQRA Group (GLC), United Arab Emirates: to promote IIBI qualifications (principally) in the UAE, as well as other international markets.

Metropolitan Consulting (S.A.E.) / Metropolitan Training Academy, Egypt: for delivery of IIBI programmes in Egypt (principally) and elsewhere.

Tazkia University College of Islamic Economics, Indonesia: collaborate on exchange of Staff and Student, publications, research, development of syllabus for certificate, diploma, undergraduate, postgraduate and other programs, joint seminar, conference and workshop and other programmes of integrated knowledge, practical training and short courses to enhance academic curriculum and/or professional proficiency.

Chartered Institute of Securities and Investment (CISI), United Kingdom: they are the largest and most widely respected professional body for those who work in the securities and investment industry in the UK and in a growing number of financial centres globally. IIBI and CISI entered into a MOU (since terminated by IIBI) for IIBI to promote the Islamic Finance Qualification (IFQ) offer by CISI and for CISI to support IIBI in their transition to charity status, providing advice on an informal basis, for the CISI to become the formal awarding body for the IIBI Diploma and Post Graduate Diploma examination until such time as IIBI becomes a formal awarding body, promote IIBI conferences, training, seminars and lectures as an accredited provider for the CISI CPD Scheme, of IIBI, upon application, IIBI assisted the CISI to develop a Professional Interest Forum (PIF) in Islamic finance for CISI members.

Harvard Law School, USA: IIBI has exchanged communications with Director, Islamic Finance Project & Acting Executive Director, Islamic Legal Studies Program and reporting on projects undertaken at Harvard Law School.