Growing need for Islamic finance experts

KUALA LUMPUR: There is a need to overcome the shortage of Islamic finance specialists and professionals, especially with Islamic banking growing strongly, the International Centre for Education in Islamic Finance said. 

Its president and chief executive officer, Agil Natt, who is also a prominent banker, said that in the Gulf States alone, there would be a shortage of 30,000 such people in the next 10 years. 

Speaking to reporters after the launch of Inceif's PhD in Islamic Finance here yesterday, he said Islamic banking was growing between 15% and 20% annually. 

Inceif was established by Bank Negara in December 2005 to contribute towards the global development of human capital, talent and professionals required to support the growth of the Islamic financial industry. 

Meanwhile, Higher Education Minister Datuk Mustapa Mohamed said Islamic finance professionals have become sought after. 

“Wealth will continue to be created in countries that can develop human capital,” said Mustapa, whose speech was read out by Higher Education Department director-general Datuk Prof Dr Hassan Said.