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A partnership agreement between INSAG Business School, Financia Business School and the Bahrain Institute of Banking and Finance (BIBF) has been signed with the aim of launching a double degree specialized in Islamic finance.
The signing took place in the presence of the Bahraini Ambassador to Algiers Ali Jassem Ahmed Al Aradi, as well as managers of the main companies of the Algerian financial sector, was signed by Dr. Ahmed Abdul Hameed Abdul Ghani AlShaikh, CEO of BIBF , Nassim Lounes, CEO of INSAG Business School, and Alfonso Lopez de Castro, President of Financia Business School.
This double degree aims to “meet the growing demand for skills in Islamic finance. The program will combine the expertise of the three partner institutions to offer comprehensive and professional training. It will also make it possible to support “the very remarkable growth of the Algerian Islamic finance market, currently served by 12 approved banks (6 public, 6 private) which has a growing network with 75 agencies dedicated to Islamic finance and 741 counters offering Islamic finance products,” it is indicated in a press release.
In June 2023, according to the note from the Bank of Algeria, the volume of Islamic finance deposits reached 624 billion dinars (an increase of 14.1%), the outstanding balance of Islamic financing products reached 370 billion dinars. Dinars (4.85% increase). This partnership will therefore make it possible to “offer the entire Algerian financial ecosystem a unique and high-level professionalizing Islamic finance training program in Algeria,” continued the same source.
This first international double diploma specialized in Islamic finance in Algeria will allow Algerian professionals and excellent students to obtain the Advanced Diploma of Islamic Finance (ADIF) from the BIBF and also to obtain the Executive MBA Islamic Finance from Financia Business School and INSAG Business School.
It will be led by Mr. Merbouh Kader, founder and director of the Islamic Finance Department at Financia Business School, which brings together several professional training programs of excellence in Islamic finance.
Furthermore, this initiative will benefit from a steering council composed of several Algerian and international experts in Islamic finance. “This partnership for this high-level professional training reflects the commitment of the three institutions to provide world-class educational solutions and to contribute to economic growth and the development of human capital in Algeria and beyond,” specified the same source.
In addition, it strengthens the ties of fraternity and friendship between Algeria and Bahrain, symbolizing the continued cooperation between the two countries in the field of education and professional training.
INSAG Business School, affiliated with INSAG Education Group, stands out for its Executive Education, offering Bachelor, Master and MBA programs. Specializing in the fields of management, human resources, finance, insurance and digital marketing, INSAG relies on solid partnerships with prestigious international institutions such as IGS RH, the École supérieure des assurances de Paris , EFAP Paris and the Collège de Paris Group.
Financia Business School is a French business school, with campuses in Paris, Lyon and Bordeaux, offering bachelor’s and MBA programs in various financial and management fields. BIBF is a semi-governmental organization affiliated with the Central Bank of Bahrain, providing leading educational and training solutions for the banking and financial sector.