October 1, 2013
DUBAI — Oman’s move towards establishing Islamic finance picked up pace today as Ethica Institute of Islamic Finance announced signing Excel Institute for Administrative Training to exclusively resell Ethica’s Islamic finance certification in Oman. The exclusive partnership means that all of Ethica’s certification, including the award-winning Certified Islamic Finance Executive (CIFE), will be marketed through Excel in Oman.
Mohammed Al Barwani, CEO of Excel Oman, said, “Through partnering with global players in Islamic finance like Ethica, we believe that our services will comply to best practices, meet AAOIFI-standards, and be recognized for partnering with the best and most trusted Islamic financing programs.” Excel Oman is a subsidiary of Safety Technical Services which has a country-wide network across Oman and also operates in Saudi Arabia, UAE, Qatar, Kuwait, India, and the United Kingdom.
“What makes this partnership special is that Oman is one of the most important Islamic finance markets in the world today: stable, well-supported by the government, and substantial unfulfilled demand. We were looking for an on-the-ground partner who would help galvanize the Omani training market and decided on Excel because of their long-term commitment to Ethica through this exclusive partnership,” said the spokesperson.
Ethica’s Islamic finance training and certification is ideally suited to Oman’s rapid entry into Islamic finance: banks in Oman have a choice between e-learning and face-to-face training depending on how many professionals need to be trained and certified. E-learning suits large banks who are looking to training thousands of bankers, similar to Ethica training 1,000 Mashreq bankers in the past. While face-to-face training suits institutions looking to have smaller groups of high-level professionals trained.