The African Centre for Advanced Studies in Management, Université Paris-Dauphine and the ICD sign an agreement for the implementation of the West African Islamic Finance Academy

By Islamic Corporation for the Development of the Private Secto

Professor Boubacar BAIDARI, Director General of The African Centre for Advanced Studies in Management (CESAG), and Mr. Khaled AL-ABOODI, CEO of the Islamic Corporation for Private Sector Development (ICD) (, signed an agreement for the implementation of an academic program of Islamic Finance in West Africa. This agreement involves University of Paris-Dauphine as the third partner in carrying out this initiative.The agreement was signed in the presence of the Governor of the Central Bank of West African States (BCEAO).

The program aims to articulate certificate, qualification, and diploma awarding training and research and consulting activities in the field of Islamic finance. This is to ultimately establish an academy of excellence in Islamic finance in West and Central Africa.

The Parties will deploy efforts to develop the program. The ICD is committed to contribute and mobilize necessary resources to promote the program implementation. Université Paris-Dauphine, strong of its experience with its Executive Master in Islamic Finance, will provide the expertise required for the design and implementation of training, research and consulting programs as well as the supervision of academic affairs. CESAG will participate in the design and implementation of training, research and consulting and ensure the deployment of the program in West Africa. Diplomas and certificates will benefit from the quality mark and the reputation of Paris Dauphine and CESAG.

On this occasion, Mr. Khaled AL-ABOODI Al Aboodi, The CEO and General Manager of the ICD explained that this academy will train excellent managers for the emerging industry of Islamic finance in the region. This partnership confirms that the ICD, in collaboration with its partners, will deploy all efforts to strengthen and promote Islamic finance while developing the private sector in these member countries.

Professor Boubacar BAIDARI, Director General of CESAG, declared that he was delighted to sign this agreement with the ICD and Université Paris-Dauphine University, two institutions internationally recognized in the field of Islamic finance. This program will allow the CESAG and its

partners to train competent human resources to cope with strong growing demand in Islamic financial services. CESAG would hence fulfill its mission to build capacity of managers in specific niches to accompany the economic and social development of African countries.

Professor Arnaud RAYNOUARD, Vice President for International Affairs at the Université Paris-Dauphine, declared: "We are delighted to sign this agreement with the ICD, which is a major and essential player in the region and in the world, as well as with CESAG, which is a regional centre for training, research and consulting under the supervision of the BCEAO, with which we have a scientific cooperation and strong and old ties. We are convinced of the high potential and opportunities of Islamic finance for the sustained development of Africa. That is why, as an institution for higher education with a strong social responsibility, we believe in the capacity building that will help to stimulate growth”.

About the African Centre for Avanced Studies in Management (CESAG) CESAG in an International Public Establishment specializes in training, research and consulting in management. Created in 1985, it has rapidly risen to the rank of the best Business school in Africa and is now a real alternative to the northern Great Business schools. Since 1996, the CESAG is under the supervision of the Central Bank of West African States (BCEAO) on behalf of the States of the West African Economic and Monetary Union (UEMOA). On the occasion of its meeting on 20 September 1996, the Council of Ministers of UEMOA entrusted to the Central Bank of West African States (BCEAO), the mission of reorganizing the CESAG to promote the continuation and development of activities. Since then, the CESAG has engaged in a process of restructuring and revitalization of its activities to better meet the needs and expectations of its partners and clients. The objective was to equip West African countries of a community Businesss school capable of training effective managers taking into account the realities of the African environment.

About the Islamic Corporation for the Development of the private sector (ICD) ICD ( is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Shari'a. ICD also provides advice to Governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. For more information, visit

About The Paris-Dauphine University Université Paris-Dauphine is a Paris-based public institution of higher education and research specializing in organizations and decision sciences. Created in 1971 as “Université Paris 9”, it is now known as Université Paris-Dauphine and was granted a special elite institution status in 2004. In 2011, along with some other elite institution it founded PSL (Paris Sciences et Lettres)-Research university, after being selected as an Excellence initiative by an international jury. With approximately 10 000 students and a core faculty of 500, to which some 1500 professional lecturer join forces, it offer 90 specialized master tracks and is a major Executive Education player. Recognized for its research and with a branch Campus in Tunisia, a Center in London and ongoing actions in more than 50 countries, it positions itself as a world-class player.