As many as 65,000 Islamic Finance professionals are needed to fill the void of skilled practitioners in various sectors in the field.
In a bid to fill the talent pool into the robust and emerging Islamic economies, the International Islamic University Malaysia (IIUM) plans to produce more qualified Islamic Finance professionals with its industry focused programs.
In an exclusive interview with Amilin TV, Assoc. Prof.Dr. Baharuddin Aziz, IIUM’s Director in Department of Communication, stated this as one of the current demands in the Islamic Finance world.
IIUM has been identified by the Malaysian government in providing solutions to tackle this issue.
“We have already begun our third workshop on Islamic Finance in Universiti Utara Malaysia (UUM) Sintok, Al Bukhary College in Alor Setar, Universiti Teknologi Mara (UiTM) and in collaboration with other higher insitutions,” he said during the OIC International Business Centre’s Iftar Session cum Sponsors announcement at the Putra World Trade Centre, Kuala Lumpur yesterday.
When asked how the training modules in IIUM should differ from other existing universities focusing on Islamic Finance, Dr Baharuddin replied that the university was the pioneer in Islamic Finance professionals training and its alumni includes some of the highest ranks in the industry.
“We have offered Islamic Banking and Finance since our inception in 1983. So we can safely say that we are the pioneers in the Islamic Banking and Finance as so far as Malaysia is concerned. In fact, we have graduates that are now in key positions in banking and financial institutions, not only in this country, not only in the Asia Pacific region but also in other parts of the world, particularly in central Asia as well as within the OIC country nations,” Dr Baharuddin added.
Apart from that, he also said that Islamic Finance and Banking is now seen as the alternative to the weaknesses within the present monetary and financial system, the global financial system that the world is having now.
“Islamic Banking and Finance has the position or the opportunity to be an alternative. It is more human, not exploitative, the way the system operates, it creates a more level-playing field. It doesn’t cause exploitation as in the taking of the ‘riba’ (usury).
“The plight of the consumers have been realized by the Islamic Finance industry in the final analysis.”
Through its unique educational model of integration and Islamization of knowledge, IIUM offers professional courses in areas of Islamic Finance.
IUM operates under the direction of a Board of Governors with representatives from the eight sponsoring governments and the Organization of Islamic Conference (OIC).
It maintains links with governments and institutions all over the world, such as the League of Islamic Universities, the International Association of Universities and the Association of
Commonwealth Universities.
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