e-Momentum ISSUE 24
MAY-JUNE 2011
Baird appointed as president At the annual general meeting held at the Queen Elizabeth II Conference Centre, London, on 4 June, Mr Harold Baird FCMA was elected as president of CIMA. Mr Baird, a management accounting and business advisor, provides services to small-to-medium enterprises and not-for-profit organisations in Northern Ireland and is currently a director of the Methodist Publishing Company Limited and Belfast Activity Centre Limited. Formerly, he was a senior corporate planning accountant with Northern Ireland Electricity PLC which on privatisation became Viridian PLC. He has been extensively involved in the CIMA member network and was elected to council in June 2001 to represent Northern Ireland. Mr Harold Baird FCMA, the newly elected President of CIMA.
Mr Baird said, ‘It is an honour to be elected as president of CIMA and I am certain it will be a fulfilling year. CIMA is entering into a joint venture with the American Institute of Certified Public Accountants (AICPA), which will raise the profile of the profession and be a passport for careers throughout the world. I am keen to further enhance the institute’s relevance and reputation by forging strong partnerships and working relationships both within the institute and externally. It has truly never been a better time to be a management accountant.’ Mr Gulzari Babber FCMA and Mr Malcolm Furber FCMA were elected deputy president and vice president respectively.
CIMA and AICPA joint venture CIMA and the American Institute of Certified Public Accountants (AICPA) have agreed on the creation of a new professional designation, the Chartered Global Management Accountant (CGMA), that will be a worldwide standard of professional excellence in management accounting. It is proposed that the new CGMA letters will be issued to members early in 2012. The joint venture, covering 550,000 members and students worldwide, will combine the strength of the AICPA in North America with CIMA’s presence in Europe, the Middle East, Africa, Asia and elsewhere. Past CIMA President, Mr George Glass said, ‘We are delighted that management accountancy is to be given a strong new global impetus by this joint venture. This advances our strategic aim and will ensure management accountants, committed to strict ethical standards, will receive world-class support in a fast-globalising world.’ This sentiment was echoed by AICPA Chairman, Mr Paul Stahlin who said, ‘This is truly an historic moment for the accounting profession worldwide. Our joint venture with CIMA creates long-term strategic value and literally opens up the world for US CPAs in management accounting.’
Launch of Diploma and Advanced Diploma in Islamic Finance
Mr Venkkat Ramanan, Head of CIMA Malaysia, launching the Diploma and Advanced Diploma in Islamic Finance.
At the first panel session: (from left) Mr Mohd Damshal Awang Damit, Managing Director, Amundi Islamic Malaysia; Y Bhg Datuk Noripah Kamso, CEO, CIMB-Principal Islamic Asset Management; Mr Effendy Rahaman, moderator from Amanie Advisors; Y Bhg Dato’ Redza Shah Abdul Wahid, CEO, Bank Muamalat Malaysia Berhad; Dr. Mohd Daud Bakar.
CIMA launched its new Diploma and Advanced Diploma in Islamic Finance at the Corporate Leadership in Islamic Finance event on 21 June. The event was co-hosted by UCSI University and Amanie Advisors, a globally recognised Shari’ah advisory firm, at the UCSI Blue Ocean Strategy Hall in Kuala Lumpur. It follows the successful launch of CIMA’s Certificate in Islamic Finance four years ago, which, following a detailed review, has been re-graded to the CIMA Diploma in Islamic Finance. The four modules of the Diploma will be offered as certificates in their own right. The new Advanced Diploma is based upon a top level case study. Preceding the launch of the Diploma and Advanced Diploma were two panel sessions entitled ‘Positioning Malaysia as the leading international hub for Islamic finance: challenges and what it takes’ and ‘Human capital development as the key driver for Islamic finance growth: addressing the industry’s need’. The panel sessions were moderated respectively by Mr Effendy Rahaman and Mr Razi Pahlavi, both from Amanie Advisors. In his speech, Mr Venkkat Ramanan, Head of CIMA Malaysia, highlighted that CIMA sees the Islamic finance market as particularly important, with its current global value estimated at greater than $1.1 trillion. Its continued growth needs to be funded by appropriately trained, new human capital and Malaysia, as a leader in the development of the Islamic finance industry, needs to develop this skilled workforce to meet its own demands, fuel growth and maintain its position internationally. Also speaking at the event was Dr Mohd Daud Bakar, an international Shari’ah expert, President and CEO at Amanie and the International Institute of Islamic Finance Inc as well as consultant on both the CIMA Diploma in Islamic Finance and the new Advanced Diploma. Visit www.cimaglobal.com/if for more information