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The Islamic Research & Training Institute (IRTI) of the Islamic Development Bank (IDB) Group, and CIMB Islamic Bank Bhd of Malaysia signed a memorandum of understanding towards developing Islamic Finance Country Reports (IFCR) on Malaysia and Indonesia. The IFCR is expected to provide in-depth information, and independent due diligence to facilitate the growth and development of the Islamic finance industry in IDB Group member countries and encourage investment by enhancing transparency. Through this combined initiative, the two institutions aim to facilitate access to information that is currently not available to stakeholders.

Takaful received a grim assessment in the Islamic Financial Standards Board (IFSB) and Islamic Research & Training Institute (IRTI) Mid-Term Review (MTR), which was released last week. The takaful business model faces significant challenges, according to the MTR. The challenge starts with the gap between how takaful operators are organized in theory and practice. Moreover, Islamic insurance firms have been not been successful so far outside of a few countries like Saudi Arabia and Malaysia in reaching "critical mass". If the new firms are unable to grow to a large enough size, administrative costs become very steep and reserves will not be sufficient enough to cover losses. If takaful operators engage in a consolidation process (should regulations allow it), it would improve the underwriting marketplace.

The Deloitte Islamic Finance Knowledge Center (IFKC) in the Middle East and the Islamic Research & Training Institute (IRTI) held on March 27, 2014 the "Restructuring Sukuk- the Islamic Way" workshop in Dubai, the first of a series of executive workshops targeting industry practitioners, investors and issuers. The event tackled the Sukuk market trends and the key Sharia' and regulatory considerations for restructuring activities. The participants discussed actual restructuring case studies with analysis of risks associated with transactions and lessons learned. The event also provided practitioners the opportunity to hear different perspectives in discussions facilitated by leaders from Deloitte, DFSA , IDB Group , Islamic International Rating Agency, FWU Global Takaful, and Clifford Chance .

The Deloitte Islamic Finance Knowledge Center (IFKC) in the Middle East has signed an MOU of a collaborative training initiative with the Islamic Research & Training Institute (IRTI). This collaboration aims to develop industry-based training programs for the industry of Islamic Finance and Takaful in order to streamline professional education and capacity building. Four key objectives are identified to provide 'Continued Professional Development' and Executive Education programs for the Islamic Finance and Takaful industry stakeholders. First, the collaborative approach amongst industry stakeholders will be strengthened. Moreover, high quality practitioner training and support to industry stakeholders will be provided. Another goal is to assist clients, developing talent management strategies and competency-based training approach in Islamic finance practice. The forth aim is to set the standards of professional excellence and good practices of leadership development in Islamic finance.