MBAs Find Practical Knowledge in Ethica’s CIFE 

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MBAs Find Practical Knowledge in Ethica’s CIFE

While universities around the world quickly add Islamic finance to their MBA programs, students are still turning to professional training institutes for practical knowledge. MBA programs are faced with two options: find talent internally to teach the more practical aspects of Islamic finance to increasingly theory-savvy students; or turn to the institutes. 

With most MBA professors never having worked inside a bank, it is more likely that universities will turn to professional training institutes for practical training to complement the theory in their programs. 

One university did just this. La Trobe University, one of Australia’s oldest universities, used e-learning from Ethica Institute of Islamic Finance to supplement its coursework for several years: students received their regular Islamic finance instruction on campus, and logged into Ethica’s online modules for technical coursework. La Trobe University's Associate Professor Ishaq Bhatti said, “With Ethica, our Islamic finance program now extends far beyond our physical campuses. For the first time ever, we now tap into the tremendous demand for Islamic finance from students all over the world.”

Another success story comes from Kiran Kumar, an MBA from ICFAI Business School (IBS). During his MBA program he interned at Bank Nizwa in Oman for three months. Shortly after the internship began, he felt the need to supplement the theory from his MBA program with some practical knowledge. 

Kiran said, “Theory and practice are two different things. To further solidify my knowledge on how Islamic finance practically works in banks, I decided to pursue a certification course. This is where Ethica’s CIFE came in. Their lectures are shaped more towards how Islamic instruments work in a bank using real life examples to understand the basics. Their simple yet effective videos helped me understand how the work in Bank Nizwa’s departments are shaped using Islamic instruments and also helped me perform jobs given to me with much more clarity. Ethica’s CIFE has helped me become much more confident in my knowledge of Islamic finance and, combined with my experience at the bank, has motivated me to work in this industry in the future.” 

But why would Kiran need practical knowledge if he is already sitting inside a bank doing an internship? Because often working inside a bank — amid the day to day minutiae of clients and paperwork — one loses sight of the overall context, the big picture. What is the point of Islamic finance? 

Lola Boatwright, who joined Ethica’s CIFE and INSEAD’s prestigious MBA program in France, may be one of the many people finding meaning in their careers through Islamic finance, saying, “I've become even more convinced that Islamic finance is the key to unlocking the potential of finance to promote well-being and avoid the instability of the cycles of boom and bust.”

Officially AAOIFI Recognized

Officially recognized by AAOIFI (pronounced “a-yo-fee”), the world’s leading standard-setting body in Islamic finance, Ethica's award-winning Certified Islamic Finance Executive (CIFE) and Advanced CIFE (ACIFE) earn you continuing professional development (CPD) credits

"The role Ethica has played in promoting the cause of standardization of best practices in Islamic finance, especially in the fields of Shari'ah and accounting, that too for the last two decades, is indeed praiseworthy. They have always put AAOIFI standards at the heart of all their certification and training programs for which we are grateful."

Omar Mustafa Ansari
 Secretary General, AAOIFI

What CIFE and ACIFE Graduates Say...

"Ethica’s CIFE has already opened doors for me..."
 Boyd Ruff
 Esq., USA    


“The course is brilliant.”

Mufti Ibrahim Essa, Darul Uloom

"I chose Ethica’s certification as it has an excellent reputation in the market and now I understand why. All the different modules cover the most important types of contracts from both a theoretical as well as a practical perspective and are complemented by a lot of clear examples. And the self-paced training permits excellent time management. I recommend the CIFE from Ethica Institute to everybody seriously interested in learning about Islamic finance."
Daniel Rasqui
Director, Product Support and IT, SIX Financial Information, Luxembourg                                                             

"We upgraded to twice as many users after only 6 months with Ethica."
Moinuddin Malim
CEO, Mashreq Al Islami        


Read more testimonials (here)

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CIFE & ACIFE graduates have likened the knowledge gained from Ethica’s certification to actually working inside an Islamic bank. Ethica puts you ahead of the curve by training you in the practical aspects of Islamic banking without overwhelming you with theory. Play one of our videos (click here) to experience the quality and depth of our training.

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About Ethica Institute of Islamic Finance


Couriered to your doorstep at no extra charge, your framed certificate will handsomely adorn your office or study for years to come. Custom-mounted and framed by hand, this beautiful certificate was designed by classically-trained Islamic artists and third-party accredited to comply with AAOIFI, the world’s leading Islamic finance standard.

Ethica is trusted by more professionals for Islamic finance certification. Officially recognized by AAOIFI, the world's leading standard-setting body in Islamic finance, the Institute has trained over 15,000 paying professionals in 160 financial institutions across 65 countries, winning numerous industry awards. Ranked #1 on Google for “Best Islamic Finance Certification” regularly, Ethica’s globally recognized and accredited award-winning certificates include the Certified Islamic Finance Executive™ (CIFE™), Advanced CIFE™ Financial Analysis (ACIFE™ FA), and Advanced CIFE™ Accounting (ACIFE™ ACC), delivered online or live at the bank.

Celebrating 20 Years of Islamic Finance Excellence


  • Official recognition from AAOIFI, the world’s leading standard-setting body for Islamic finance
  • 15,000 paying professionals in 65 countries from over 160 institutions 
  • +$350,000 given in financial aid
  • +100 countries and thousands receive free courses and ebooks
  • Ranked #1 on Google for “Best Islamic Finance Certification” regularly
  • 69 industry awards

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Disclaimer: This email is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action. Ethica Institute LLC does not purport to and does not, in any fashion, provide tax, accounting, actuarial, record keeping, legal, broker, dealer or any related services. You should consult your advisors with respect to these areas and the material presented herein. You may not rely on the material contained herein. Ethica Institute LLC shall not have any liability for any damages of any kind whatsoever relating to this material. Unlless indicated otherwise, the names of people, locations, and events may have been changed and any resemblance to actual people, locations, and events may be purely coincidental.

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