EDUCATION TALENT DEVELOPMENT
Malaysia - Malaysia needs more skilled workers in the Islamic finance system, as the government seeks to transform the sector into a leading hub.
“Although the size of Islamic sector remains just a fraction of global assets, given a Muslim population of around 1.5 billion people, the industry has enormous potential,” Datu Putit Matzen, head of Sarawak Islamic Council (SIC), said.
The Islamic banking and finance industry is worth an estimated US$1 trillion (MYR$3.03 t) and growing rapidly, The Borneo Post
reported. With projected a growth rate of up to 20% a year, Putit called for greater emphasis on a higher level of human capital development in Islamic finance.
Malaysia’s Islamic finance has continued to grow rapidly due to many factors. These include an environment renowned for continuous product innovation, diversity of financial institutions from across the globe, offering a broad range of innovative Islamic investment instruments, a comprehensive financial infrastructure and adopting global regulatory and best legal practices.
Putit commended SEGi College Sarawak for understanding the vast shortage and the market potential, with its programme tailored to develop relevant and highly applicable qualifications that will help drive the Islamic finance institutions.
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