Skill Issues for Islamic Financial Institutions-Reasons and Solutions

Abstract

This study focuses on the skill issues of the Islamic financial institutions that impact on the industry negatively. For the Islamic financial industry to develop according to the standard level, it needs proper skills. Therefore, this paper clarifies the issue first and then reasons for skill gaps in the Islamic financial industry. Shortage of centers and training courses for creating talents in Islamic finance field slows down the industry. In addition, the current unqualified staff of Islamic financial institutions effect on the Islamic financial industry. Shortage of skills in the Islamic finance field is not always due to the insufficient number of staff, but because that current staff do not possess all related Islamic financial knowledge, such as legal, Shariah and modern finance system. Therefore, this paper presents suitable methods for developing and producing Islamic finance professionals. Establishing centers and colleges for producing knowledgeable Islamic financial staff is an important method for developing the Islamic financial industry. In addition, opening training courses by Islamic financial institutions can also be a good tool for developing necessary skills of the current Islamic financial employees.

Keywords: Islamic Finance, Skill Issues and Islamic Financial Institutions

DOI: 10.7176/JLPG/89-14

Publication date:September 30^th 2019