Islamic Finance

The article emphasises the need of Human resources in Islamic Banking and Finance industry(IBF) and how shortage and movement of staff can create problem for institutions due to lack of human resources in the industry. The IBF is posed with several challenges and lack of public sector funding and government support. Despite these challenges there are numerous opportunities existing in the market with strong need for developing Global Islamic Finance Accreditation body law schools and IBF Curricula.

The article discusses the Islamic Finance education in Australia and Master Course in Islamic Finance offered by La Trobe University. The article describes the complete course structure, Course approval process, student composition and industry response to the course.

The report criticises the Islamic finance industry for not doing anything concrete for talent development. The talent is one of the key organisational assets. There is conflict of interest between sharia scholars and business personals. The Industry and academia needs greater collaboration in this regard to understand each other’s perspective and to meet the growing need of Islamic finance professionals and Sharia scholars.

The educational background of staff in Islamic Finance industry does not have large influence on his prospect of becoming a successful Islamic Banker. It is responsibility of training staff and the right approach will determine the success. Due of lack of uniform curriculum, it is challenge for the industry to provide right kind of input learning environment to produce trained staff who will be able to handle all situations. A comprehensive program needs to be designed to attract students with the objective to bringing Islamic Finance to next level.

Islamic finance education needs strong foundation and standardisation without this nothing will change and it will continue to receive criticism from all around and lend further credence to the detractors. AAOIFI standards could fill the gap of standardisation and curriculum based on AAOIFI standards could have acceptance from majority of sharia jurisdictions.

Islamic microfinance Finance is a tool for financing small businesses and to relieve poverty. The lack of awareness and absence of specialised Islamic finance education is hindering the growth of industry. It is also responsibility of world’s major institutions to subsidised the Islamic finance education and make it affordable to everyone.

Unlike conventional finance with primary goal of making profits and maximizing the shareholders’ value, Islamic Finance offers a unique proposition to satisfy the commercial as well as social need at the same time being morally and ethically correct. Among the challenges faced by Islamic Finance industry is not only to acquire new customer but also to retain the existing ones. Everyone from school pass to PhDs need to be aware of Islamic Finance.

Islamic finance literacy has become critical for the future growth of the Islamic financial sector in the twenty-first century. While a multi-pronged approach is called for, the focus in this paper is on the undergraduate programs in Islamic banking and finance. It analyses the state of teaching of Islamic banking and finance at the undergraduate level and proposes solutions for improving the undergraduate education of Islamic banking and finance.Â

Muslims make up 53% of the population of Malaysia, but Islamic banks capture only 1.5% of the country’s banking industry. What is the cause of this imbalance? Islamic banks are not being marketing appropriately. Although almost 100% of the

The remarkable growth in the Islamic Finance industry has given rise to demand for Islamic finance education and trained professionals. According to estimate at least 50000 professionals are needed in the industry. There are around 40 universities offering Undergraduate, Post Graduate and doctoral programs in Islamic Finance. Several other approaches such as Training & Workshops, Distance Learning Programs and publications can be used to develop Islamic Finance Professionals.