KARACHI: Hamdard Institute of Management Sciences (HIMS) has formed one of its kind 'Hamdard University - Islamic Finance Academic Advisory Board (HU-IFAAB)' in collaboration with the banking professionals and Academics of different academic institutions to introduce specific courses based upon practical knowledge and market needs.

Formation of HU-IFAAB was announced in a recently held meeting of board members and faculty members headed by Dr Muhammad Wasie Fasih Asst Prof HU at Avari Towers Karachi.

The main motive of this initiative was to cater the emerging market needs in Islamic Banking and financial sector and to build HIMS to emerge as a leading educational institution. With the help of this board, Hamdard University will offer unique specific courses based on job demand and strengthen students' understanding with practical knowledge.

Speaking on the occasion Bilal Fiaz, Group Head Consumer Banking of BankIslami highlighted the need for product-specific courses like Islamic Auto Finance and House Finance for front office staff. The suggested courses should focus more on practicality and unique features of the offered products.

Dr Irum Saba Asst Prof IBA stressed upon improving current MBA-Islamic banking and finance programme with Islamic Finance oriented Continuing Professional Development (CPD) learning activities for Islamic Financial Institutions professionals at all levels.

Mufti Muhammad Ibrahim Essa, Member Shariah Board - Habib Metropolitan Bank said, "HIMS can facilitate banking and financial sector in this regard by designing professional trainings via pre-recorded video lectures, following AAOIFI& ETHICA online courses model."

Muhammad Faisal Sheikh Head Islamic Banking - Faysal Bank suggested a detailed degree programme for current marketing students to improve knowledge for the future marketing endeavours. Dr Muhammad Wasie Fasih Butt said that academic institutions like HIMS could play a key role by arranging orientation and awareness sessions.

Copyright Business Recorder, 2020