London; 5 August 2021: The Islamic Development Bank (IsDB) and Bloomberg LP will work together to deliver a financial education program for university students in nine countries in the Middle East, Africa and Asia. The program will leverage the Bloomberg Terminal to support the growth of the Islamic finance sector and empower students in leading universities with the financial skills needed to excel in the professional world.
The program will equip the next generation of leaders in sectors with the foundational principles of financial markets. By delivering practical real-world experiences, training will enable students to build competencies and transferable skills which are highly sought after by employers. The program is also designed to support the long-term growth of the Islamic finance industry through specialized training on market infrastructure and areas like transparency, connectivity and compliance across central banks and regulators.
At the program’s core will be IsDB-Bloomberg certification, composed of a series of challenges and modules specially designed for the selected countries and delivered by Bloomberg market specialists. These include the Bloomberg Islamic Finance module to introduce students to the principles of Islamic finance and the relevant tools available on the Bloomberg Terminal. Top performing students will be recommended for internship opportunities at IsDB.
Dr. Bandar Hajjar, President, IsDB, said: “The launch of the Capacity and Skills Building Program with Bloomberg is important to IsDB Group to prepare young people for the twenty-first-century jobs and the labor market requirements. We hope this program will contribute to providing a number of our member countries with a group of young people capable of bringing about a qualitative leap in increasing productivity and enhancing competitiveness in some vital and pioneering productive sectors in these countries. Through this partnership, the two parties will seek to develop tailored financial literacy and education programs across the selected IsDB member countries in a manner consistent with the Fourth Industrial Revolution's applications to build a new generation of skilled workers.”
Michael R. Bloomberg, Founder of Bloomberg LP and Bloomberg Philanthropies said: "We are excited that Bloomberg’s collaboration with IsDB will create a bridge between the academic and professional worlds for the next generation of banking and finance leaders in nine fast-growing economies. The Bloomberg Terminal will help the program offer a valuable learning experience that equips students with skills that are in high demand, helping them succeed in the workforce of the future.”
As part of the program, Bloomberg LP will also offer the Bloomberg Market Concept course (BMC). BMC provides an interactive introduction to the financial markets, with modules covering Economic Indicators, Currencies, Fixed Income, Equities, Portfolio Management, Stock Options, and Commodities. Students will receive the Bloomberg Market Concept Certificate after completing the 7-course modules, supporting their job applications at financial firms.
The objectives of the program align with IsDB’s mandate to put in place infrastructure to enable people fulfil their potential and build collaborative partnerships between communities and nations. The multilateral development finance institution brings together fifty-seven member countries across four continents. The nine IsDB member countries involved in the program are Bangladesh, Egypt, Kazakhstan, Kuwait, Malaysia, Nigeria, Oman, Saudi Arabia and Uzbekistan. IsDB and Bloomberg will announce participating universities over the coming months.