Oman starts Islamic finance training
Muscat, June 12, 2012
The Central Bank of Oman (CBO) has started organising specialised training programme for its officers ahead of the launch of Islamic financial services in the Sultanate.
Leading consultancy Islamic Finance Advisory & Assurance Services (IFAAS) has been roped in by the central bank to design and deliver the course to these officers.
IFAAS said it had devised the ‘The Islamic Banking Foundation Programme' as a bespoke package to meet the specific requirements of the central bank.
The consultancy delivered the programme as an intensive, and interactive, two-week course which concluded with a formal ceremony where delegates were awarded their certificates recently.
Speaking at the ceremony, Hamood bin Sangour Al Zadjali, the CBO executive president said the programme has been conducted for the first batch of bank officers and will be rolled out to additional groups in the coming months.
Farrukh Raza, the managing director of IFAAS, said,'We are delighted to be supporting the CBO as it works towards developing the financial sector with the introduction of Islamic finance.'
At the ceremony, Raza presented the key findings of a recent report published by IFAAS entitled ‘Islamic Finance in Oman – Sizing the retail market'.
'The report was the result of groundbreaking, independent, market research conducted by IFAAS. It analyses the potential market for retail Islamic finance in the Sultanate and the challenges that lay ahead to realise this potential, he added.-TradeArabia News Service