A global umbrella body for Islamic financial institutions has accredited Nairobi-based Aqeel Consulting as its Kenyan agent for professional development.
The General Council for Islamic Banks and Financial Institutions (Cibafi) accredited Aqeel Consulting in a move expected to facilitate the promotion and consolidation of the Islamic finance industry in the region.
The firm specialises in Islamic finance training, business advisory, product development, research, Shariah commercial contract documentation, and arbitration services.
“This partnership shall certainly create synergies in the realisation of making Nairobi the financial hub for Islamic finance in the region,” Aqeel Consulting managing director Jaafar Abdulkadir said.
Mr Abdulkadir said they will focus on developing capacity for professionals in the legal, accounting, auditing risk, compliance, banking and finance sectors.
The accreditation comes at a time when Nairobi is preparing to host the third edition of the East Africa Islamic Summit in April.The meeting will focus on financial technology (fintech) as a driver for Islamic economy and financial inclusion in the region.
Lack of qualified and skilled human resource has been cited as one of the major challenges to faster growth of the Islamic finance industry.
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