In 2024, the Centre for Islamic Finance, Compliance and Advice (CIFCA) entered into a Memorandum of Understanding (MoU) with ADL Advisory (Malaysia), with a strategic focus on:
- Capacity building in Islamic finance
- Shariah advisory and governance services
- Technical collaboration aligned with global standards, particularly AAOIFI Key
Objective:
The visit to Malaysia aimed at provided a critical opportunity to:
- Operationalize the MoU,
- Transition from virtual engagement to institutional-level collaboration, and
- Align implementation priorities for 2025 - 2026.
Key Outputs:
The visit to ADL Advisory represents a strategic milestone in CIFCA's international engagement agenda. It has transitioned the partnership from a formal MoU into practical, result-oriented collaboration, with clear pathways for:
- Capacity building including - Development of a joint Takaful training and certification programme, Joint delivery of Certified Shariah Adviser and Auditor (CS AA) preparatory courses, and Development of a high-level executive study tour for Tanzanian Islamic Finance stakeholders to Malaysia.
- Shariah advisory excellence
- Ecosystem development in Tanzania and the wider region.
- Adl tarn hosted Secretary General in a podcast (entitled Bismillah) and the conversation delved into Key developments in Tanzania’s Islamic Finance, emerging trends, and near-term opportunities shaping Islamic finance across the region. This episode offers a grounded, on-the-field perspective on one of Africa’s most promising Islamic finance frontiers and how Tanzania is positioning itself as a future hub.
This engagement reinforces CIFCA's role as a key enabler of Islamic finance development in Africa, while strengthening its linkage with globally established centers of excellence in much developed Islamic Finance systems such as Malaysia.
