Standard Chartered Bank has announced the launch of a new Islamic banking course at Dubai International Financial Centre (DIFC), where it recently opened its Middle East office.
The course lasts two days and provides participants with a comprehensive understanding of the fundamental principles of Islamic finance.
More than half of people taking the course are UAE nationals working either for Standard Chartered or at the DIFC.
Malcolm Walker, senior executive officer, Standard Chartered DIFC, said: “With over 500 staff moving to the DIFC by mid-2007, Standard Chartered will become the largest employer in the centre. We’ve invested heavily in our new operation and are also deeply committed to developing and harnessing national talent. The ‘Fundamentals of Islamic Banking’ course is one of our first steps to supporting the expansion of this emerging industry globally, and in educating the financial leaders of the future.”
The bank’s global team for structuring customised Islamic financial solutions is based in the DIFC, as is its regional CEO, Shayne Nelson, who chairs its Islamic banking board.
In an interview with
Arabian Banking & Finance
this month, Nelson said that financial institutions that did not offer Islamic financial products would miss out on a valuable market.
Nelson said: “This is not a passing fad, this is a faith-driven product that consumers, corporates and governments are demanding, and you’d better be good at it and you’d better be quick at doing it.”
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