Globally, Indonesia, Malaysia, Turkey, Pakistan, U.A.E, Qatar, Saudi Arabia, Kuwait & Bahrain are prominent where the contribution of their total assets of Islamic Banking is 82% to the Global Islamic Banking market. The Islamic Finance market has shown a steady growth of 13%-15% in the past 5 years and is expected to cross USD $3 Trillion by 2020. This exponential growth of the industry has led to the vacuum of trained human resource at all levels. A wider array of products which are distinctively Shari'ah Compliant are also the need of the hour which would lead the industry to clearly differentiate itself in the market. CEIF has been established to meet this need for greater research and training.
CEIF, based at the IBA's City Campus, offers Executive Learning Programs, Forums for discussions between various stakeholders. In this regard, CEIF has signed an MOU with Malaysian based University, INCEIF, as its Academic Partner. Furthermore, CEIF has entered into collaborations with Islamic Research and Training Institute (IRTI) and International Shari'ah Research Academy (ISRA) to cooperate in enhancing the objective of Research, Training and Development in the field of Islamic Finance. In line with its aim to provide demand driven training, IBA initiated a strategic partnership with Meezan Bank Ltd. to establish the Centre.
The Board of Management of the Centre includes CEOs of major market players and regulators with Dr. Ishrat Husain as the Chairman. This strong linkage with the industry will enable the Centre to achieve its key objectives, which include: