Emirates College of Technology has recently stepped forward through signing a Memorandum of Understanding with the Institute of Finance and Management, a pioneering consultancy and training institute, on June 23rd, 2015. By signing this MoU, the two parties expressed their willingness to cooperate with each other in enabling students of ECT to incorporate elements of practical experience in its programs and strengthen their exposure to best practices in Islamic Finance.
As per this agreement, Institute of Finance and Management will align its professional certificates in Islamic Banking and Islamic Financial Markets with the ECT curricula to create an equivalency in line with the Institute of Finance and Management requirements. Therefore, ECT students may apply for a professional certificate from the Institute of Finance and Management once they have completed and passed the relevant course work as per ECT curriculum with a “C” grade at least.
According to Professor Bruce Taylor, President of Emirates College of Technology: “this MoU represents a cooperation framework in the field of human resources development, research and consultancy in order to explore and identify various areas of mutual collaboration based on relative strengths and complementarities”. He also asserted that the new agreement will offer ECT Students a fantastic opportunity to develop a solid competitive advantage in the highly dynamic and competitive Islamic finance labor market.
On his side, Dr. Mahmoud Frag, Chief Executive Officer of the Institute of Finance and Management, asserted that this MoU aims at helping ECT students benefit from its professional training services specialized in the Islamic economy and its sciences and applications as well as other training programs that support the banking and financial establishments and the execution of conferences related to the Islamic banking industry in the world.