Malaysia has training capability in Islamic banking, says UK report
KUALA LUMPUR: Malaysia has the capability to help train many countries in Islamic banking products due to the country’s position as one of the key players in Islamic finance, according to a report.
In the report entitled ‘Malaysia, Gateway to Asean’, published by UK-based PMC Ltd on Tuesday, Tabung Haji Chairman Datuk Seri Abdul Azeez Abdul Rahim was quoted as saying the sector is expected to create more job opportunities in the future, further boosting the industry globally.
“Many people are not familiar with syariah-compliant funds.
“Therefore, many countries send their people to Malaysia to get trained in Islamic banking products,” he was quoted as saying in the report.
The report said that the International Islamic University of Malaysia (IIUM), the country’s arm of Islamic finance education system, has played its role in spreading the knowledge, keeping the industry ‘up-to-date’.
“IIUM promotes global exchange amongst students through its network with the Federation of the Universities of the Islamic World, composed of 300 universities.
“IIUM also offers online programmes for international students and collaborates with IRTI, the research arm of the Islamic Development Bank,” the report said.
IIUM Rector Datuk Seri Zaleha Kamaruddin, who was also cited in the report, said the university targets to make Malaysia the global training centre for the Halal hub, through exporting educational programmes internationally via new partnerships.
As for now, she sees the United Kingdom as the best place to offer such programmes due to the growing interest in Islamic finance.
“The global trend in education is exploring new frontiers and creating new products.
“(The objective is to become) an Islamic window to the Western world,” she said in the report.
IIUM is helping to push the boundaries of education, doing its part to create a pool of talented individuals who are in tune with the industry’s needs, said the report. — Bernama