Emirati woman becomes world's first ever recipient of CIMA's Islamic finance certificate

With this achievement, Rehab Lootah becomes the world's first woman ever awarded a certificate in this highly specialized professional area.

Rehab Lootah, Mawarid's SVP-Business Development, Products and Corporate Communication and CEO-Tamaiaz Award, said:

"The importance of this professional specialization stems out of the vital role played throughout the world by Islamic banking industry including Islamic financing and investment governed by the principles and provisions of Islamic Sharia."

Rehab added, "Islamic banking constitutes for the Islamic world a basis of economic and social development and is viewed as a practical realization of concepts and rules of Islamic economy."

"This certificate in Islamic finance is given to accountants and bankers among other academically qualified candidates who should pass four examinations evolving around Islamic commercial law, Islamic banking and takaful, Islamic capital markets and instruments and Islamic corporate finance accounting, with comprehensive study materials covering at least 23 courses addressing contract-based Islamic banking transactions different from those practices related to traditional banking," Lootah explained.

Mawarid Finance Group of Companies received from the Institute's management many emails the last of which was on 18 December informing the Group of this achievement and confirming that Rehab Lootah is the world's first woman to be awarded this certificate following two men one from Malaysia and the other from China.

At a ceremony held to honor Rehab Lootah on this achievement, Mohammed Mosabeh Al Neaimi, CEO - Mawarid Finance Group of Companies, said: "We are pleased to have an Emirati national achiever among our Group's senior staff and encourage others to follow her example," he added. "Such unique accomplishments promote the image of the United Arab Emirates on the international scale."