Acute shortage of talent in the Islamic Finance industry

The Islamic Finance industry in the country is facing an acute shortage of talent to serve the growing needs of the industry, as it is seeing a mismatch between the supply and demand of skilled workers in the niche financial sector. Chief executive director of Finance Accreditation Agency (FAA) Dr. Amat Taap Manshor said that globally, there is a shortage of close to 56,000 professionals to serve the growing industry.
Dr. Amat told the audience during a forum at the 11th World Islamic Economic Forum that there needs to be a deeper collaboration between academia and the industry to address the shortage. “The capital market sector is seeing the most acute shortage of Islamic Finance professionals, followed by takaful and banking,” Dr. Amat told reporters on the sideline after the forum. He said addressing the shortage issue has to be a continuous effort by all parties in the industry, and hopes that the country can see 40,000 Islamic Finance professionals in the market by 2020.