Agreement To Establish West African Islamic Finance Academy Signed

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Boubacar Baidari

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The African Centre for Advanced Studies in Management, Université Paris-Dauphine and the ICD sign an agreement for the implementation of the West African Islamic Finance Academy

BOUBACAR Baidari, director general of the African Centre for Advanced Studies in Management, CESAG, and Khaled Al-Aboodi, chief executive officer of the Islamic Corporation for Private Sector Development, ICD, signed an agreement for the implementation of an academic program of Islamic Finance in West Africa. The agreement involves University of Paris-Dauphine as the third partner in carrying out the initiative. The agreement was signed in the presence of the governor of the Central Bank of West African States, BCEAO.

The programme aims to articulate certificate, qualification, and diploma awarding training and research and consulting activities in the field of Islamic finance. This is to ultimately establish an academy of excellence in Islamic finance in West and Central Africa.

The Parties will deploy efforts to develop the programme. The ICD is committed to contribute and mobilize necessary resources to promote the program implementation. Université Paris-Dauphine, strong of its experience with its Executive Master in Islamic Finance, will provide the expertise required for the design and implementation of training, research and consulting programs as well as the supervision of academic affairs. The CESAG will participate in the design and implementation of training, research and consulting and ensure the deployment of the program in West Africa. Diplomas and certificates will benefit from the quality mark and the reputation of Paris Dauphine and the CESAG.

On the occasion, Al-Aboodi, the CEO and general manager of the ICD explained that the academy would train excellent managers for the emerging industry of Islamic finance in the region. The partnership confirmed that the ICD, in collaboration with its partners, would deploy all efforts to strengthen and promote Islamic finance while developing the private sector in these member countries.

Baidari declared that he was delighted to sign the agreement with the ICD and Université Paris-Dauphine University, two institutions internationally recognised in the field of Islamic finance. The program will allow the CESAG and its partners to train competent human resources to cope with strong growing demand in Islamic financial services. The CESAG would hence fulfill its mission to build capacity of managers in specific niches to accompany the economic and social development of African countries.

Arnaud Raynouard, vice-president for the International Affairs at the Université Paris-Dauphine, said: “We are delighted to sign this agreement with the ICD, which is a major and essential player in the region and in the world, as well as with CESAG, which is a regional centre for training, research and consulting under the supervision of the BCEAO, with which we have a scientific cooperation and strong and old ties. We are convinced of the high potential and opportunities of Islamic finance for the sustained development of Africa. That is why, as an institution for higher education with a strong social responsibility, we believe in the capacity building that will help to stimulate growth.”

— Jan 25, 2016 @ 13:50 GMT

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