The demand for Islamic finance experts is ten times greater than the current supply, according to Zubhair Mughal, CEO of AlHuda Centre of Islamic Banking and Economics, a nonprofit microfinance research and training organization based in Pakistan. While speaking at the recent Moscow Halal Expo, an annual exhibition of halal (permissible under Islamic law) business practices, Mr. Mughal said that while 38 Islamic universities worldwide are producing a total of 5,000 Islamic bankers per year, demand is close to 50,000. AlHuda is working to help meet this demand by increasing their offerings of distance-learning courses.
By Brett Cohen, Research Associate
About AlHuda Centre of Islamic Banking and Economics
Located in Pakistan, AlHuda Centre of Islamic banking and Economics is a nonprofit that specializes in research, training, consulting in the Islamic microfinance industry. The organization also provides technical assistance in the area of Shariah law, organizes distance learning programs and publishes a monthly newsletter on Islamic microfinance.
Sources and Additional Resources
Press Release provided to MicroCapital by Alhuda Centre of Islamic Banking and Economics, also available at Microfinance Gateway: “Demand for Islamic Finance Professionals Outpaces Supply, Says CEO of AlHuda Centre of Islamic Banking and Economics”
http://www.microfinancegateway.org/p/site/m/template.rc/1.9.57955/
Halalexpo.org, press release, “About Us”
http://www.halalexpo.org/about-us/what-is-mhe
MicroCapital.org story, May 9, 2012: “MICROCAPITAL BRIEF: HSBC to Provide Technical Assistance to Microfinance Institutions in Middle East, North Africa in Partnership with Grameen-Jameel, Bankers without Borders”
https://www.microcapital.org/microcapital-brief-hsbc-to-provide-technical…
MicroCapital.org story, May 6, 2012: “MICROCAPITAL BRIEF: In Islamabad, Pakistan, Orascom’s Waseela Microfinance Bank Limited (WMBL) Opens First Branch”
https://www.microcapital.org/microcapital-brief-in-islamabad-pakistan-ora…
MicroCapital Universe Profile: AlHuda Centre of Islamic Banking and Economics
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=AlH…
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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