Shaykh Yusuf Talal Delorenzo Endorses Ethica Institute of Islamic Finance

Shaykh Yusuf Talal Delorenzo Endorses Ethica Institute of Islamic Finance PR Newswire DUBAI, UAE, July 2, 2012 DUBAI, UAE, July 2, 2012 /PRNewswire/ -- The highest accreditation in Islamic finance is a fatwa, or expert legal opinion, from a top Islamic finance scholar. And the most widely accepted standard in Islamic finance is AAOIFI's, the Accounting and Auditing Organization for Islamic Financial Institutions, now the de facto standard in 90% of the world's Islamic finance jurisdictions. Today the two came together when AAOIFI Board Member Shaykh Yusuf Talal DeLorenzo, one of the world's leading Islamic finance scholars, endorsed Ethica Institute of Islamic Finance. Ethica is the most heavily enrolled Islamic finance training and certification institute in the world with over 20,000 paying users in 44 countries. Shaykh Yusuf joins Mufti Zubair Usmani and Sheikh Ashraf Muneeb, both leading scholars, in acting as an advisor to Ethica. This announcement further highlights the Islamic finance industry's move towards greater standardization. Islamic finance currently suffers an acute shortage of trained and certified professionals. And despite the global financial crisis, Islamic finance continues to spread across the globe. The Dubai-based institute's clients include large banks like Mashreq Bank which trains 1,000 employees using Ethica, universities like La Trobe, and Dow Jones affiliate Zawya, which offers Ethica to its 750,000 users.