Opportunities for Islamic finance professionals are increasing

This sector has been experiencing positive growth which has led to strong competition among leading business hubs such as Dubai, London and Kuala Lumpur, all vying for the top spot to become the global hub of Islamic banking and finance.

The Chartered Institute of Management Accountants (CIMA) first launched its certificate in Islamic Finance in 2008 in the Gulf Cooperation Council and today, in these Middle Eastern countries, close to 1,000 students have enrolled and benefited from this qualification.

This globally recognised qualification aims to address the demand for skilled Islamic finance professionals in this fast-growing sector where according to the World Islamic Economic Forum (WIEF), the global Islamic commercial banking assets is expected to exceed by $2tn by end 2014.

Opportunities in SA

"The Islamic finance qualification has been developed for companies and employees that need to increase their talent pool of Islamic finance staff, knowing that there is a global shortage of these professionals," says Zahra Cassim, head of CIMA South Africa. "We believe there are significant opportunities in South Africa for qualifying specialists in Islamic finance, as companies increase their dealings with Islamic countries. This certificate will be valuable for newcomers to Islamic finance and for financial professionals seeking accreditation and qualification in this field."

In 2013, CIMA was recognised as the Best Islamic Finance Education Provider by the Global Islamic Finance Awards, where it was acknowledged for its contribution to the growth of the Islamic banking and finance industry, and for its role in preparing students and professionals for a career in Islamic finance.

Four strategic courses

CIMA's Islamic finance qualifications, offer prospective students the option of qualifying in four strategic courses. Students can opt for modules such as Islamic Commercial Law, Banking and Takaful, Islamic Capital Markets and Accounting for Islamic Finance Institutions. CIMA students enrolling for the Islamic finance qualification also have the option of taking an advanced diploma, a self-study course which offers flexibility and progressive learning.

Employers also benefit from hiring CIMA graduates, as they learn strategic insights and gain a solid understanding of the Islamic finance industry, particularly when they may be doing business in Islamic countries.