Islamic finance training comes to India | World News - Hindustan Times
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Islamic finance training comes to India

PTI | By, Dubai
Feb 07, 2012 11:29 AM IST

Ethica Institute of Islamic Finance, a leading Islamic finance training and certification institute, has granted Infinity Consultants, an India-based advisory firm, rights to exclusively market and sell Ethica training across India.

Ethica Institute of Islamic Finance, a leading Islamic finance training and certification institute, has granted Infinity Consultants, an India-based advisory firm, rights to exclusively market and sell Ethica training across India.

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Bids for the Ethica country exclusivity licence began last year and were concluded recently.

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Other country exclusivity licences currently under discussion include ones for Pakistan, Oman, Australia, Nigeria, France, and Germany, a statement released here said.

Ethica is currently offered in 43 countries and this will be the first time a partner has the right to exclusively sell Ethica to an entire country.

"Ethica’s entry into India may be a critical turning point for bringing Islamic finance to a growing economic powerhouse with over 150 million Muslims...," the statement said.

Ethica’s spokesperson said: "In the aftermath of the global financial crisis, governments around the world recognise the precariousness of purely conventional capital markets and the need for asset-backed, equity-based finance.

"If India is going to attract Shariah-compliant investment at this critical time, when Gulf liquidity is fast making decisions about where to go next amid a growing Euro crisis, it will first have to train its professionals in AAOIFI-based Islamic finance."

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