The Chartered Institute for Management Accountants has extended its reach in Islamic Finance to incorporate the Arabic language.

CIMA signed a contract with Jordan based organisation TAGITraining to translate and offer a qualification in Islamic finance in Arabic.

The course is available throughout the world and is the first time that the Institute has decided to offer one of its qualifications in a language other than English.

Robert Jelly, CIMA director of education said: 'Islamic finance is a rapidly growing market and we have taken the lead in offering business and government the knowledge and skills necessary to meet demand through this qualification. Such has been the success of the English language version that we plan to launch further qualifications in Islamic Finance early in 2009.'

The Islamic finance industry is thought to be worth between £150bn and £250bn, and is growing at an estimated rate of 15 to 20% per annum.