Welcome to Centre for Excellence in Islamic Finance (CEIF) at IBA.
The Centre for Excellence in Islamic Finance (CEIF) has been established at IBA with the objective of providing a platform for discovery, enhancement and dissemination of knowledge in the field of Islamic Finance. It aims to be a world class Centre which, through education and research, carries on IBA's legacy of thought leadership in the Islamic Finance industry.
Globally, Islamic Banking assets have exceeded USD 2.2 trillion by the end of 2018. In Pakistan, 5 full ledged Islamic banks & 17 conventional banks with Islamic Banking branches operating 2,913 branches (including window operations) grew their assets by 7.3% to reach Rs, 2,992 billion, deposits by 9.8%, reaching Rs 2,415, ending up with profits of Rs 32 billion for the year 2018. This exponential growth of the industry has led to the vacuum of trained human resource at all levels. A wider array of products which are distinctively Shari'ah Compliant are also the need of the hour which would lead the industry to clearly differentiate itself in the market. CEIF has been established to meet this need for greater research and training.
CEIF, based at the IBA's City Campus, offers Executive Learning Programs, Practitioners' Qualification Series, Discussion Forums, Conferences, Seminars, and Distinguished Leadership Dialogues for discussions between various stakeholders including Academicians, Shariah Scholars, Industry Professionals, Regulators and Policy Makers from Central Bank and Ministry of Finance to provide the industry with trained human resource at all levels. Currently, IBA CEIF offers a Masters in Islamic Banking and Finance (MS-IBF) program and is in the process of developing a PhD program in Islamic Finance. In this regard, CEIF has signed an MOU with Malaysian based University, INCEIF, as its Academic Partner. Furthermore, CEIF has entered into collaborations with Islamic Research and Training Institute (IRTI) and International Shariah Research Academy (ISRA) to cooperate in enhancing the objective of Research, Training and Development in the field of Islamic Finance.
The Board of Management of the Centre includes CEOs of major market players and regulators with Dr. Ishrat Husain as the Chairman. This strong linkage with the industry will enable the Centre to achieve its key objectives, which include:
- To provide trained human resource to the industry to take it to the next level of maturity
- To conduct quality research and document case studies for enhancing and disseminating knowledge.
- To be a platform for debate, discussion and discourse on current issues and best practices around the globe. It is actively negotiating with various multilateral institutions to assure quality and best practices in this field.
- To provide a network of global outreach. In this regards, an International Lecture Series has been launched where various leaders of the industry from around the globe will be invited regularly for training sessions to bridge the knowledge gap.
- To advance theory of Islamic Economics and Finance and its role in the society
- To establish a data centre with best local and international resources.
CEIF was established with the help of State Bank of Pakistan (SBP) financed through a program by DFID, UK.
Board of Management, CEIF:
- Dr. Ishrat Husain, Chairman CEIF
- Dr. Syed Akbar Zaidi , Vice Chairman CEIF & Executive Director IBA Karachi
- Mr. Irfan Siddiqui, CEO Meezan Bank Ltd.
- Syed Amir Ali, CEO BankIslami Ltd.
- Mr. Ahmed Shuja Kidwai, CEO Al Baraka Bank Ltd.
- Mr. Junaid Ahmed, CEO Dubai Islamic Bank
- Dr. Imran Usmani, Vice Chairman Shari'ah Board , Meezan Bank Ltd.
- Mr. Samar Hasnain, Executive Director, Development Finance Group, SBP
- Mr. Ahmed Ali Siddiqui, Founding Director of CEIF
- Mr Yousaf Hussain, President & CEO Faysal Bank Limited
- Mr Said Gul - Managing Director, Pak-Qatar Takaful Group
- Mr Azhar Aslam, Head of Islamic Banking, Standard Chartered (Pakistan) Limited