TAG-Org and the Chartered Institute of Management Accountants Renew Islamic Finance Partnership

TAG-Org and the Chartered Institute of Management Accountants Renew Islamic Finance Partnership

DUBAI – July 10, 2014- Talal Abu-Ghazaleh Professional Training Group (TAGI-TRAINING) announced the official renewal of their partnership with the UAE branch of the Chartered Institute of Management Accountants (CIMA).

The joint venture will continue to address the needs of the Islamic financing sector by providing students and professionals in the UAE with world-class training in the ever-growing field. According to the World Bank, global Islamic financial assets have increased from about $5 billion in the late 1980s to about $1 trillion in 2010. This rapid growth has led to a profound need for skilled Islamic finance professionals, as the World Islamic Economic Forum (WIEF) predicted that in the next 5-7 years the Islamic finance sector will require the addition of around 50,000 professionals.

The TAGI-Training/CIMA qualification in Islamic Finance is offered in both Arabic and English, allowing students from a diverse range of backgrounds to participate in the training. The qualification consists of four subject selections, including Islamic Commercial Law, Banking and Takaful, Islamic Capital Markets and Accounting for Islamic Finance Institutions. Additionally, students in the program have the option of earning an advanced self-study degree, which puts them further at the forefront of their field.

Mr. Salah Abu Osbeh, Executive Director of Professional Partnerships at Talal Abu-Ghazaleh Organization (TAG-Org), said of the continued cooperation: "The renewal of our partnership with CIMA is another step towards our commitment to develop new opportunities for Arab professionals to be specialized and internationally qualified in Islamic finance, which is one of the fastest growing financial services sector in the region today. Through our renewed agreement with CIMA, we will be responsible for translating and delivering the Islamic Finance CIMA certificate in the Arabic language, throughout the GCC region."

CIMAs Geetu Ahuja also praised the collaboration: "We are looking forward to continuing and strengthening our cooperation with Talal Abu- Ghazaleh Professional Training Group. Through this rewarding partnership, along with the qualification available in English we can access as well as empower non-English speaking Arab professionals from the banking and finance sector. The Islamic finance qualification has been developed for companies and employees that need to increase their talent pool of Islamic finance staff, knowing that there is a global shortage for these professionals. This certificate will be valuable for newcomers to Islamic finance and for financial professionals seeking accreditation and qualification in this field."

About TAGI-Training

A segment of the Talal Abu-Ghazaleh Organization (TAG-Org), Talal Abu-Ghazaleh Professional Training (TAGI-TRAINING) aims to equip professionals with the training and skills they need by offering more than 300 programs in over 20 sectors. TAG-Org was founded in 1972 and has since grown into the largest Arab group of professional service firms worldwide, with 80 offices around the world and 180 representative offices in Europe and North America.

About CIMU

Founded in 1919, the Chartered Institute of Management Accountants (CIMA) is the largest and leading professional body of management accountants worldwide, with over 218,000 members and students in 177 countries. In 2013 the Global Islamic Finance Awards recognized CIMA as the “Best Islamic Finance Education Provider” for its contribution to the Islamic finance and banking industry by introducing the world’s first professional Islamic financial course in 2008.