IslamicFinance.de

There have been many surveys done by academic and business institutions on the skills gap in Islamic banking in recent years, and they all come to the same conclusion: that unless this gap is bridged, the impressive average annual growth of 15 per cent achieved by the Islamic banking industry in recent years will be undermined. More Islamic financial institutions, individually and collectively, need to engage in formalised training. Next, clear and easily understood standards need to be adopted that help to define products which Islamic banks and other institutions offer. Apart from the positive impact this would have on the regulation of the industry, this would also help to demystify what the sector offers to the general public.