On March 2018, International Council of Islamic Finance Educators (ICIFE) conducted a program titled ‘Basic Course on Islamic Banking and Finance’ in Philippines for professors, deans, head of departments as well as the practitioners from Mindanao State University (MSU) and Philippines Association of Islamic Accountants (PAIA).

This program was intended to introduce the fundamental Islamic finance principles, discuss Islamic finance policies and practices as well as to highlight issues of Islamic finance in the financial sector to professionals, practitioners and academics from Philippines. The course was comprised of seven modules namely:

  1. Islamic Economics and Banking Business
  2. Fiqh Muamalat for Banking and Finance
  3. Islamic Financial System
  4. Transactions in Islamic Banking and Finance
  5. Islamic Banking Operations – Sources of Funds & Application of Funds
  6. Takaful and Re-Takaful
  7. Muamalat Interactive Game (MIG) – Industry.

First six modules where conducted in Limketkai Luxe Hotel, Cagayan De Oro City, Philippines on March 3-4, 10-11 and 17-18 consequently. Meanwhile, the last module was organized in Seri pacific Hotel, Kuala Lumpur Malaysia on March, 27-28.

Upon the completion of modules participants visited and had session in Islamic Financial Institutions based in Kuala Lumpur namely,  Bank Negara Malaysia (Central Bank of Malaysia), Maybank Islamic, IIUM Shariah Advisory Services (ISAS) and Amanie Holdings. Participants graduated on 31st March 2018 following the ICIFE Islamic Finance Education and Quality Assurance Symposium held in Seri Pacific Hotel, Kuala Lumpur and was granted ICIFE individual membership. ICIFE would like to express gratitude to the lecturers for this course, Dr. Mustafa Omar Mohammed – Assoc. Professor at International Islamic University Malaysia (IIUM), Mr. Razi Pahlavi – CEO and Managing Director of Amanie Holdings, Tuan Haji Azmi Bin Abu Bakar – Consultant at First International Consulting and Dr. Zurina Shafii – Assoc. Prof from Islamic Science University of Malaysia (USIM).