The consultant lecturer for the Islamic Capital Market course held recently, Mohamed Faisal Sulaiman has stated that the course have been a remarkable success.
Speaking at the certificate awarding ceremony, Mohamed Faisal said that the he has participated in the courses held in this field in various countries but he has never seen such a great performance from the students as shown by Maldivian students.
He noted that the Islamic Capital Market is very important to be developed in the Maldives. He said that he will extend his cooperation and assistance if the CMDA holds more such programs in this field.
Mohamed Faisal appealed the students to be actively involved in what they have learned and to pass on the knowledge to others as well.
The Capital Market Development Authority (CMDA) has taken numerous initiatives to develop a vibrant and thriving Islamic Capital Market in the Maldives. One of the most prominent visions of CMDA is to develop an Islamic Capital Market parallel to that of the existing Conventional Capital Market in Maldives.
The emergence of a distinct Islamic Capital Market in the Maldives, where investment, financing activities and products are structured in accordance with principles of Shariáh, is the outcome of a natural progression in the growth of the Islamic financial services industry of the Maldives.
Islamic finance is a financial system that operates according to Islamic law (Shariáh). The principles that administer Islamic finance are mutual risk & profit sharing, assurance of fairness, equity and justice with transactions revolving around an underlying business activity or asset. These principles are complemented by the fundamental Shariáh values which prohibit activities that involve interest (riba), gambling (mysir), and uncertainty (gharar). Just like conventional financial systems, Islamic finance features banks, capital markets, fund managers, investment firms, and insurance companies.
Course in the field of Islamic Capital Market has been very successful
