Ethica Institute Makes History at Mashreq Bank: Delivers First Bank-Wide Islamic Finance E-Learning

For the First Time Ever, Bank-Wide Islamic Finance E-Learning is Now a Reality, Bringing the Still-Booming Islamic Finance Industry One Step Closer to the Rest of the World

DUBAI, UAE, November 2, 2010 - Islamic finance just got one step closer to addressing its biggest
problem: a lack of qualified bankers and scholars. Today, the UAE's largest
private bank, Mashreq Bank, rolled out the first ever bank-wide Islamic
finance e-learning solution at its Islamic banking division, Mashreq Al
Islami. Hiring Ethica, the Islamic finance e-learning institute, brings
Mashreq 100% online Islamic finance training and certification across their
entire network of branches.

The move marks a major turning point in an industry heavily bottlenecked
by a lack of trained bankers and scholars. To date, banks have had to rely on
external consultants to deliver short courses, but today's announcement makes
year-round, bank-wide Islamic banking courses approved by scholars a working
reality.

Mashreq Al Islami's Chief Executive Officer, Moinuddin Malim, said, "Our
partnership with Ethica demonstrates our commitment to ensure imparting
quality programs, which caters to both basic Islamic banking courses as well
as more sophisticated programs. We hold Sharia'h compliance as the core value
of our business."

Ethica's Managing Director, Atif Khan, said, "Whether training 100
bankers or 1,000 bankers, in tough times only e-learning provides the
cost-effectiveness and year-round learning advantage over more expensive
delivery channels such as classroom training. We are delighted to finally
deliver Islamic banking courses to bankers anywhere, anytime."

Mashreq piloted Ethica with a few hundred users before rolling out
bank-wide training. Earlier this year Dow Jones affiliate Zawya.com and New
York based Banker's Academy signed on with Ethica as well.

In 2010, Ethica Institute of Islamic Finance
(www.EthicaInstitute.com) was chosen by more professionals for Islamic
finance certification than any other organization in the world. The
Dubai-based institute received the award nomination for "Best Islamic Finance
Training Institution" in 2009 and 2010 by Islamic Business and Finance
Magazine. Mashreq Bank is the largest private bank in the UAE with assets of
$25 billion and launched Mashreq Al Islami, their Islamic finance division,
in March of this year.

For more information about this article, or to schedule an interview with
Ethica Institute of Islamic Finance, please call Sameer Hasan at
+971-4-305-0782 or e-mail at info@ethicainstitute.com.

For more information about this article, or to schedule an interview with Ethica Institute of Islamic Finance, please call Sameer Hasan at +971-4-305-0782 or e-mail at info at ethicainstitute.com.