About Centre for Islamic Finance, Compliance and Advice (CIFCA)
Centre for Islamic Finance, Compliance and Advice (CIFCA)
About Centre for Islamic Finance, Compliance and Advice (CIFCA)
The Center for Islamic Finance, Compliance and Advice (CIFCA) was established in the year 2010 to assist in fostering the growth of the Islamic Banking and Finance in Tanzania. The idea formally rigorously discussed in 2008 when a group of Muslim intellectuals, sheikhs and shariah scholars met at the Muslim University of Morogoro (MUM) to discuss the potentialities, the need for, challenges and the best strategies for promotion of Islamic Banking and Finance in Tanzania. The Center’s vision is to be the most comprehensive advice and knowledge support provider for the Islamic Financial Industry in Tanzania.
Towards the pursuance of our goal to promote Islamic banking and finance in Tanzania and East African countries, CIFCA is working diligently since its existence 14 years ago. The Centre has been acknowledged as a distinguished service provider due to our notable services, team of dedicated professionals and one-stop solutions of Islamic banking and finance. Our aim is to provide state-of-the-art services of Islamic banking and finance in the industry. This is in line with the government’s efforts to broaden financial sector in Tanzania through promoting inclusive financial services.
Supported by its vision and mission below, CIFCA will ensure that we continue to collaborate with Government and others stakeholders in order to map the development of Islamic finance in Tanzania at a high level.
Vision
To be the highest national authority in Islamic Finance in Tanzania through promoting ‘Halal Finance for Halal Wealth’ by providing knowledge, advice, and ensuring compliance with shariah.
Mission
To impart knowledge on the Islamic Finance and effectively advice on and supervise compliance of Islamic finance issues and transactions in order to achieve and maintain sustainable economic growth through being a breast with the state of the art technology and adhering to shariah, for the benefit of the humanity.
Values of the center
- Adherence to Qur’an and Sunnah
- Integrity and professionalism
- Innovation and Excellent in quality
- Commitment and reliability
- Team work
Services Offered by the Center
As the Islamic Finance industry leader in Tanzania, we focus in providing the following services to our stakeholders:
- Training, certification and human resource development;
- Research, consultancy and publication;
- Resource center for local and global collaborations;
- Supervising adherence to the industry standards and voluntary compliance; and
- Propagation of awareness on the Islamic Banking and Finance
Team
Our Team
Aref Nahdi
Chairperson
chairman@cifca.or.tz
Aref Nahdi is CIFCA’s Chairman and a founding member since 2008.
He has renowned experience in leading multi-disciplinary and complex organsations. Mr Nahdi is a founder of The ISlamic Foundation (TIF) and a Chairman of its Board of Trustees since 1998 to date.
Under his leadership, TIF has owned and effectively run Imaan Newspaper, and TV and Radio Imaan. Mr. Nahdi is also a founding and current Director of Tanzania Takaful, since 2015. Mr Nahdi has also served as a Founder and Treasurer of the Supreme Council of Tanzania Ansaar Sunnah Organisation (BASUTA) since 2008, and as a Financial Director for the Muslim University of Morogoro (MUM) from 2010 to 2014.
Chairperson
Prof. Mohammed Hafidh
Vice Chairman
vice.chairman@cifca.or.tz
Mohammed Hafidh Khalfan holds a PhD in International Economics from Putra University Malaysia, MSc and BSc (Hons) in Economics from the International Islamic University – Islamabad.
He is an Associate Professor in Economics, and an Associate Research Fellow at the Dar es Salaam based Economic and Social Research Foundation (ESRF). He has extensive experience in lecturing Executive Programs in Economics in various local and International Universities.
His several years in the Private and public Sector where he has served in several senior positions and Boards, has exposed him to active discussion on measures to strengthen the Public-Private Dialogue, advocacy, lobbying and marketing.
Vice Chairman
Salum Lupande
Secretary General
secretary.general@cifca.or.tz
He is a Full Chartered Certified Accountant (FCCA) of the Association of Chartered Certified Accountants (ACCA). He holds a bachelor’s degree in accounting (Hons) from the International Islamic University in Malaysia and an MSc in finance with accounting from The London South Bank University in England. He also attended for the MA in Islamic Studies with the Muslim College in London, England.
Cumulatively, Salum has worked with PricewaterhouseCoopers (PwC), Tanzania for over 15 years in Management Consulting providing Public Financial Management and project management advice to the public sector local and international organizations. Salum has also worked as an accountant with a learning institution, and a lecturer of finance and accounting courses.
Secretary General
Jumanne Bundala
Co-ordinator
coordinator@cifca.or.tz
Mr. Jumanne is management consultant and expert in operations of Microfinance institutions. He hold Master in Economic, Policy and Management (MAEPM) from Makerere University in Uganda, BA Economic (Hons) from University of Dar-es-salaam and Post graduate Diploma in Islamic Banking and Finance from Alhuda CIBE.
He has vast experience in management, policy formulation and project management having worked with grassroots people for more than 20 years in Microfinance Institutions. He is passionate in promoting Islamic finance.
Co-ordinator