Saudi Gazette

JEDDAH — Effat University signed a memorandum of understanding with the General Council for Islamic Banks and Financial Institutions (CIBAFI). The agreement was aimed at empowering women in Saudi Arabia by boosting their skills and knowledge in Islamic finance to work in Islamic banks.

Aziza Yarlaeva, head of strategic planning at CIBAFI, and Dr. Haifa Jamal Al-Lail, president of Effat University, signed the MOU at the 3rd Islamic Finance Conference held at Effat campus in Jeddah on Thursday.

Under this agreement CIBAFI will issue the students of Effat international certification after giving them courses in Islamic banking and finance.

Aziza Yarlaeva said: “The General Council for Islamic Banks and Financial Institutions is an international organization that represents Islamic banks in 32 countries. We conduct various programs in research and professional development and offer international certifications for our partners around the globe. In Saudi Arabia these programs will be offered through Effat University to their graduates. When they finish university they will receive these courses and professional certification in Islamic banking. Our aim is to empower women in Saudi Arabia and promote Islamic banks.»

Dr. Samar Khan, dean of Effat College of Business, said: “At Effat University we collaborate with international organizations and universities and we constantly work to increase awareness and knowledge of our students. We don›t just rely on their local experience, but we also want them to have international exposure in different fields.»

Effat University is the first non-profit educational institution specialized in offering higher education for girls in the Kingdom. It was established by the children of Queen Effat Al-Thunayyan, wife of the late King Faisal, in 1999. The university operates under the umbrella of the King Faisal Foundation.

The university offers a broad range of undergraduate and postgraduate programs that enhance lifelong learning and education through four faculties: the Business School, the Faculty of Humanities, the Faculty of Engineering and the Faculty of Architecture and Design.