CIMA wins award for qualification in Islamic finance.

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CIMA has won the KLIFF Islamic Finance Award 2008 for its certificate in Islamic finance. The institute, which was the first chartered accountancy body to offer a global qualification in Islamic finance, accepted the accolade at a gala dinner during the fifth Kuala Lumpur Islamic Finance Forum 2008 (KLIFF) in November. The award recognises organisations that have contributed significantly to the development of the Islamic finance industry.

Chandra Mohan Balasubramaniam FCMA, divisional president of CIMA Malaysia, received the award from Tan Sri Nor Mohamed Yakcop, Malaysia's minister of finance II.

"We believe that there is a demand from the global business community for knowledge and skills in Islamic finance," Balasubramaniam said. "We have tailored the content of the certificate not only to equip students with foundation knowledge of Islamic finance, but also with reference to international products, standards, regulations and best practices."

The qualification, launched in April, has four modules: Islamic commercial law; Islamic banking and insurance; Islamic capital markets and instruments; and accounting for...

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