Category: Finance World

Institute of Finance & Management subsidiary of aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has recently signed a Memorandum of Understanding (MoU) with the University of Bolton’s Centre for Islamic Finance, an initiative designed to facilitate research and promote the understanding of Islamic Finance through lectures, conferences and a joint professional certificate in Islamic Banking. The document was signed in London.



Under the terms of the MoU, both parties have expressed their full commitment in the continued advancement and growth of Islamic Finance—collaborating on a series of projects and initiatives that includes conducting and commissioning joint research in the field of Islamic Finance; develop and promote a new Islamic Banking Professional Certification program and host and organize an annual Islamic Finance-based event.

H.H. Sheikh Faisal Bin Saoud Al Qassimi, Board Member of “aafaq Islamic Finance” shared that the signing of the new MoU proves to be both timely and strategic as global financial experts continue to laud Islamic Finance's continuing growth. The new alliance between aafaq Islamic Finance and the University of Bolton’s Centre for Islamic Finance represent a cooperative framework that looks towards encouraging more development in Islamic Finance on regional and international levels, particularly in the fields of education, research, capacity building and consultancy.

Dr. Mahmoud Abdalaal, CEO of “aafaq Islamic Finance” said, “We are extremely excited with this new partnership that we have forged with the University of Bolton’s Centre for Islamic Finance. aafaq Islamic Finance is confident that this strategic new alliance will successfully be able to drive in more awareness on the many benefits and advantages offered by Islamic Finance. Through our partnership with the University of Bolton’s Centre for Islamic Finance, we are looking towards commissioning more research and studies while also laying the foundation for an international certification program for Islamic banking professionals.”

The Chairman of the Centre for Islamic Finance and the first Chancellor of the University of Bolton, The Baroness Morris of Bolton said, “I am delighted we have signed this MoU and look forward to working with aafaq in encouraging more development in Islamic Finance. This collaboration will help to strengthen the University's close ties to the UAE and builds on our core strength of working together with leading and innovative industry practitioners.”

The Centre for Islamic Finance was launched in 2012 at the University of Bolton to facilitate research and create a better understanding of Islamic Finance through the holding of key lectures, conferences and the offer of short course programs. The inaugural lecture of the centre was given by Dr. Ahmed Ali, President of the Islamic Development Bank and was attended by business leaders, academics and finance managers from across the UK.

Professor Mohammed Abdel-Haq, Director of the Centre for Islamic Finance and former Global Head of private banking at HSBC Amanah, welcomed the enthusiasm and vision of aafaq and looked forward to working together with aafaq to help drive a better understanding of the benefits and advantages of Islamic Finance.

“We have students studying with us at Bolton for their PhDs in Islamic Finance from around the world and have established a reputation which attracts respected speakers and supporters such as Norman Lamont, the former Chancellor of the Exchequer. Our work with a Company of such quality as aafaq, a leader in Islamic Finance in the UAE, will help us to broaden our research and to reach and educate more people working within the sector,” concluded Professor Abdel-Haq.


About aafaq Islamic Finance 

Backed by an eminent and respected group of shareholders, aafaq Islamic Finance was established in 2006 to provide innovative Islamic financial services and products that comply with Islamic Sharia across the UAE and the Region.

The company's strategic focus is set towards exploring and discovering available opportunities within various business sectors in order to achieve the highest return for its shareholders. Aafaq holds strategic partnerships with the Ministry of Finance and the Ministry of Labor, Department of Economic Development - Dubai, DMCC, NASDAQ Dubai , Menacorp, Tas'heel Centers, flydubai and Airarabia.

The company, which works closely with some of the world’s leading financial institutions, offers a variety of high-quality financial services like Corporation Finance, Retail Finance, e-Dirham, Labor Guarantees, Wages protection system, Payment for the DED, flydubai reservation payment, airarabia reservation payment. Aafaq outlets exist in 54 "Tas'heel Centers and government departments across UAE. For More information please visit website:


Source: Orient Planet PR & Marketing Communications