Islamic finance, one of the hottest topics in European and Middle Eastern financial training, is now being adopted in accountancy training too.
Cima, the Britain-based Chartered Institute of Management Accountants, has launched an Advanced Diploma in Islamic Finance, intended for those working in accounting and financial services who want to move into Islamic finance, as well as those already working in the sector who want to broaden their knowledge.
“We see the Islamic finance market as particularly important, with its current global value estimated at more than $1.1-trillion (U.S.),” says Cima’s John Willsdon. “Islamic finance is becoming much more prominent throughout the financial institutions of the world, rapidly growing from a niche industry to a mainstay of finance.”
Growth in the industry is daunting. According to Mohd Daud Bakar, president and chief executive of the International Institute of Islamic Finance, “Thousands of professionals will need to join the industry globally over the next five to seven years if its impressive growth is to be sustained.”