Action on lack of Islamic expertise
Bahraini group is helping universities begin courses in Sharia-compliant business practices to avoid a shortage of experts in the US$1 trillion (Dh3.67tn) market.
Khairul Nizam, the deputy secretary general of the Accounting and Auditing Organisation for Islamic Financial Institutions, stated that the industry will need 15 % more personnel over the next five years and 25 % more in a decade.
Countries like Nigeria, Thailand, Australia and France plan to present legislation to facilitate Islamic financing, moves that will increase demand for scholars to certify that the products meet requirements on no interest payments.
Syndicate
