The Ministry of Foreign Affairs of Malaysia (Wisma Putra) and the Islamic Banking & Finance Institute Malaysia (IBFIM) concluded the Fundamental Certificate in Islamic Banking for 83 participants under a Malaysian Technical Cooperation Programme (MTCP) 2023 in Manila on July 8.
Under this collaboration, the Fundamental Certificate in Islamic Banking (FCIB) course is offered with the aim to advance Islamic finance knowledge as one of the means to promote Islamic finance knowledge in the Republic of the Philippines.
Speaking at the closing ceremony of the programme, His Excellency, Dato’ Abdul Malik Melvin Castelino, Ambassador Extraordinary and Plenipotentiary of Malaysia to the Republic of the Philippines said that the “MTCP courses are offered by the government of Malaysia to government officials from 144 MTCP Recipient Countries. It is Malaysia’s South-South co-operation commitment to promote technical cooperation among developing countries and has benefitted over 37,000 participants since its inception in 1980. The sharing of knowledge and transfer of skills through learning programmes and technical development is important in supporting national and regional growth, and is crucial in building sound and resilient societies.” Participants’ enrolment is fully-funded by the Government of Malaysia with IBFIM as the training partner institution.
IBFIM CEO, Yusry Yusoff said that “IBFIM became part of the MTCP in 2021, and to date, over 200 individuals from 31 countries have been trained under the programme,”. He added, “IBFIM is honoured to be a partner to the MTCP, as it has opened door to Islamic finance knowledge outreach, allowing IBFIM to serve various stakeholders and communities in many emerging Islamic finance markets. The MTCP participants who become part of IBFIM’s global alumni of Islamic finance professionals, currently serve in many emerging and developing Islamic finance markets such as the Republic of the Philippines. The sharing of knowledge and transfer of skills through learning programmes and technical development is crucial in building sound and resilient Islamic finance industry”.
He also said that “This programme complemented the existing collaborations between IBFIM and Bangko Sentral Ng Filipinas as well as the Asian Development Bank in developing an Islamic finance talent pool in the Philippines and to date, has resulted in 100 certified professionals.”
He further emphasised “The inter-link between countries, especially those in the same region, is important to create opportunities in fostering a more inclusive Islamic finance industry.”
Under the MTCP programme, IBFIM offers two of its flagship certifications – the Fundamental Certificate in Islamic Banking (FCIB) and the Associate Qualification in Islamic Finance (AQIF), apart from modular-based programmes on Islamic Capital Market and Sustainability. These certifications aim to empower individuals and professionals by enhancing their understanding and knowledge on the fundamentals in the practical application of Shariah contracts in Islamic Banking.