Tecom team discusses Islamic finance in Malaysia
Dubai, March 24, 2014
A delegation from Tecom Investments visited Malaysia to meet with representatives of various Islamic finance academic institutions to look into having them set up in Dubai.
The delegation, led by Dr Ayoub Kazim, managing director of Dubai Knowledge Village (DKV) and Dubai International Academic City (DIAC), looked into the academic programmes and courses supporting the various sectors of the Islamic economics, such as Islamic finance, sharia-compliant funds, sukuk, murabaha and laws, as well as the regulatory frameworks related to Islamic finance.
They also visited various Malaysia-based research centres and universities specialising in Islamic finance, including the International Islamic University Malaysia and The Global University of Islamic Finance (Inceif).
The visit also aimed at attracting established governmental professional development centres, such as the Islamic Banking and Finance Institute Malaysia (IBFIM) to DKV and the Labuan International Business and Finance Centre (Labuan IBFC), whose current research efforts focus on Islamic wealth management.
"Demand for skilled talent in the field of Islamic finance has never been higher. As a home for the region’s education and training institutes, we have an important role to play in enhancing our educational offerings. This is through bringing academic institutions and research centres that tailor their programmes to meet the industry demands,” said Dr Kazim.
“Our trip to Malaysia represents our continuous striving to attract relevant academic institutions that can provide quality education across all levels, covering graduate, undergraduate, and vocational training courses,” he said.
“Our decision to go to Malaysia was based on its leading reputation and expertise in the Islamic finance sector. We exchanged best practices and expertise during our visit, and discussed ways that enable us to identify the current and future needs of the Islamic finance industry to ensure the continued growth and success of the sector in the UAE,” he added.
The trip followed the finding of the ‘Workforce Planning Study,’ launched by DIAC and commissioned by Deloitte, which identified some of the major themes and skills gaps within the fast-growing Islamic finance sector.
The study revealed that dedicated Islamic banking skills are in high demand from GCC banks, particularly at the entry level, closely followed by financial risk management and customer segmentation and analytics skills. - TradeArabia News Service