Dubai, UAE: Noor Bank, one of the UAE’s leading Sharia compliant banks, hosted 20 MBA students from the American Ivy League institute, Cornell University, last week, as part of the bank’s continuing efforts to boost awareness about Islamic banking and finance. The session took place at Noor Bank’s head office in Dubai.
The students had the opportunity to interact with Noor Bank’s Islamic scholars, Amjad Naser, Head of Sharia and Ahmad Tarmidzi, Senior Manager, Sharia. Also present was Kazim Ali, Head of Corporate Banking and Mirza Muhammad Ali, Associate Wholesale Banking.
Amjad Naser said, “We are delighted to have had the opportunity to share our vast expertise with the students of the prestigious Cornell University. At Noor Bank, we always take a proactive approach of sharing the bank’s best practices and learning with schools and colleges, locally and internationally, as a means of spreading awareness about Sharia based banking. The students were given an introduction to Islamic banking principles, its beginnings and were given insights on Sharia compliant financial products and capital market transactions.” Speaking about the experience, Ms. Randy L. Allen, Senior Lecturer, Samuel Curtis Johnson Graduate School of Management at Cornell University, said, “We are very appreciative of Noor Bank hosting us for a very informative session on the bank and Sharia Finance. The students and I liked that Noor Bank took the time to explain Sharia Finance to us so carefully and thoughtfully before talking about how they applied it in their business and the bank performance and growth.
“The students were very impressed with the non-speculative nature of Sharia Finance and its tie to tangible assets. We admired the way that Noor Bank has ethically and creatively used Sharia Finance to grow and expand the bank profitably while serving all customers.” While more and more and people are becoming aware of Islamic finance, most western university students are still not exposed to Sharia in banking and finance. The visit provided a perfect opportunity for Cornell students to get exposure to this new field. In addition, the interactive session offered a look into the size of the Islamic finance market, the Sukuk market, as well as the structuring of specific transactions that Noor Bank had recently worked on.
© Emirates News Agency (WAM) 2015
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