“One of the important initiatives planned for the next year is the leadership grooming program for member institutions. Under this program the Waqf Fund together with its member institutions will identify top talent among middle managers and put them through a rigorous executive development program with one of the leading world universities. The objective is to groom the C-suite executives of the future who have the leadership skills, strategic and visionary thinking and ethical approach to business in order to lead the Islamic banking industry,” Waqf Fund in a statement said.
“Another new initiative approved by the Board relates to cooperation with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). The Waqf Fund will provide financial support to help AAOIFI in further developing the Certified Islamic Professional Accountant (CIPA) qualification,” it added.
The Board reviewed the existing programs and expressed its satisfaction over the progress. These include specialist programs for Internal Shari’a Reviewers such as Advance Diploma in Islamic Commercial Jurisprudence and Shari’a Scholar sessions. Graduate Sponsorship Program, now in its fifth year, is meant to orientate junior employees of member institutions to Islamic finance. The Board also discussed the topics for three Roundtable Discussions that are planned for 2014.
The Board also welcomed Dr. Abdul Sattar Abu Ghuddah, a leading Shari’a scholar, who presented a research proposal to the Board and was endorsed for funding.