KUALA LUMPUR, April 26 — There is an immense opportunity to accelerate and unlock Islamic finance’s long-term potential and for Malaysia to supply talents for the industry, said the Chartered Institute of Islamic Finance Professionals (CIIF).
Chief executive officer Azura Othman said Islamic banking is distinguished by several key success pillars, namely, high industry standards, cutting-edge knowledge, paramount levels of integrity and excellent quality services.
“Upholding these pillars when performing Islamic banking services is critical for every personnel.
“Therein comes the need to provide these talents with the necessary resources and accreditation to develop future leaders of Islamic banking,” she said in a statement.
She said this can be done through the various programmes provided by the CIIF, which aims to strengthen the credibility and improves the professional qualification of industry players, such as leaders in the financial services industry and employees of financial institutions in Islamic finance.
“The next generation of Muslims will have at least two things in common: youth and technology. The future growth of shariah-compliant institutions will greatly depend on opportunity, their ability to gain knowledge and master technology and innovation.
“Further, there are various efforts to develop an international regulatory framework governing Islamic finance; and Malaysia, Indonesia, Qatar and Kuwait have all taken significant steps to centralise and simplify their shariah compliance,” she added. — Bernama