The Muamalat Newsletter Vol. 2 2023

FEM eNewsletter | Dec 2023 12 Sept 27, 2023 has remarked an important event to celebrate Asian Institute of Chartered Bankers (AICB) - Universities Partnerships. The event which took place at the AICB building in Kuala Lumpur attended by representatives from Banks, Universities’ and Faculties’ management, lecturers and students, and AICB representatives. The Dean of the Faculty of Economics and Muamalat (FEM), Assoc. Prof. Dr. Khairil Faizal Khairi, has represent USIM in the event. The AICB is renowned for its dedication to enhancing professional excellence in banking, brings a wealth of expertise and a strong industry presence to this collaboration. With a focus on upholding the highest standards of banking professionalism, the AICB has been a key player in advancing the skills and competencies of banking professionals in the region. It is an honour for USIM as it is one of the first six universities in Malaysia which has established partnership with the AICB. USIM through its Degree of Islamic Banking and Finance (Hons.) offered in the FEM, has been recognised by the AICB for its flagship qualification i.e. the Chartered Banker. This degree programme has been mapped with the Chartered Banker Level 1 Foundation Certificated Programme i.e. Certificate in Financial Services. The exemption granted for USIM’s graduates from the Degree of Islamic Banking and Finance (Hons.) for Level 1 Chartered Banker qualification signifies a recognition of the program’s alignment with the knowledge and competencies required at the initial level of the Chartered Banker qualification. Typically, exemptions are granted when a certain academic program covers content and skills equivalent to or exceeding the standards set for a specific qualification. In this case, USIM’s Degree of Islamic Banking and Finance (Hons.) evidently covers the foundational aspects that the Level 1 Chartered Banker qualification seeks to assess, allowing them to advance entry to the next level of the certification process. In addition, the exemption granted by the AICB is crucial for several reasons: 1. Recognition of Academic Rigor: The exemption reflects the high standards and academic rigor of USIM’s Degree of Islamic Banking and Finance. It acknowledges that the program sufficiently covers the foundational knowledge and skills required for Level 1 of the Chartered Banker qualification. 2. Time and Cost Efficiency: By being exempted from Level 1, graduates can save both time and money that would have been spent on completing the initial qualification requirements. This accelerates their path toward achieving the Chartered Banker status. 3. Professional Advancement: Graduates can advance more swiftly in their professional banking careers. The exemption streamlines their journey toward obtaining a prestigious industry qualification, enhancing their professional standing and potential for career growth. 4. Competitive Edge: Having an exemption provides graduates with a competitive edge in the job market. Employers often value professional qualifications and being exempted from Level 1 of the Chartered Banker qualification demonstrates a strong foundation in banking principles and practices. In summary, the exemption is a testament to the quality of education provided by USIM and offers tangible benefits to graduates, streamlining their AICB-USIM Partnership Remarks the Faculty’s Commitment to Excellent Teaching and Intellectual Growth of its Students