Holy Banking

Nov 20, 2006 (LBO) – The Ceylinco group tied up Monday with Malaysia’s Centre for Islamic Finance to set up a faculty for Islamic financial studies in Sri Lanka.

The Ceylinco Sussex Business School will roll out a Certified Islamic Finance Program locally, to meet a growing demand for trained professionals in Islamic finance, expected to exceed 5000 over the next four years.

The faculty has just been set up within Ceylinco’s business school, together with Malaysia’s International Centre for Education in Islamic Finance (INCEIF).

Set up by the Central Bank of Malaysia, INCEIF is backed by a 500 million Ringgit fund by the Bank, top officials from the Malaysian Centre said Monday.

The initial certificate program will provide an insight into Islamic Shariah law, economics, ethics, financial management and regulations and wealth management as well as case studies, Agil Natt, Chief Executive Officer of INCEIF said in Colombo.

As the final part of the Certified Islamic Finance Program (CIFP), students will be awarded internship programmes in a financial institution locally or abroad.

Islamic finance operates on principl