IslamicFinance.de

Some countries have realised this opportunity regarding Islamic finance and are preparing for the golden age. More ports are being built in the Middle East to handle increase transshipment and trade, including Halal trade. According to the Global Islamic Economy 2014-2015 report by Thomson Reuters and Dinar Standard, the Islamic clothing and footwear industry alone will increase 82 per cent to $484 billion (Dh1.7 trillion) by 2019 from 2013. The big constraint is the lack of institutions educating the Muslim populace on how to deliver for such services and develop such industries. This lack of talent pipeline will impact the ability of product innovation, organic expansion and at the very base level providing of services to an expanded populace. The industry needs to come together to set up various international qualification boards to tackle this issue.