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Emirati woman becomes world’s first ever recipient of CIMAs Islamic finance certificate

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Points of Essence:

  • Rehab Lootah, a senior vice president of the UAE based Mawarid Finance has emerged the world’s first female recipient of CIMA’s Islamic finance certificate. The certificate comprises professional study of Islamic commercial law, Islamic banking and takaful, Islamic capital markets and instruments and Islamic corporate finance accounting, with comprehensive case study on contract-based Islamic banking transactions. Eyeof dubai.com has the report.

Rehab Lootah, Senior Vice President, Mawarid Finance pjsc

Rehab Mohammed Lootah has been awarded CIMA’s Certificate from the Chartered Institute of Management Accountants, a London-headquartered institute with eight branches in China, Hong Kong, India, Ireland, Malaysia, Singapore, South Africa and Sri Lanka. With this achievement, Rehab Lootah becomes the world’s first woman ever awarded a certificate in this highly specialized professional area.

“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;” said Rehab Lootah, Mawarid’s SVP-Business Development, Products and Corporate Communication and CEO-Tamaiaz Award.

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”.

Source: http://www.eyeofdubai.com

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Written by Suapi Shaffaii

December 31, 2008 at 1:39 am

One Response

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  1. Congratulations Ms. Rehab Lootah on attaining this unbeatable record.

    In mid-February 2009, I became the 12th person (irrespective of gender) in the World to have passed CIMA Certificate in Islamic Finance.


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