Professional Documents
Culture Documents
Career opportunities
e live in an age of
specialisation, where
human
resources
can capitalise on the
opportunities created by the demand
and supply of skilled professionals.
Islamic
finance
practitioners,
academia and training industry in
Pakistan are very well positioned to
make the most out of it.
Higher education institutions,
being one of the major producers of
human resources to Islamic financial
institutions (IFIs), ought to train,
create awareness and provide career
orientation to their graduates to exploit
careers in IFIs locally as well as globally.
As a qualified and experienced
Islamic banker, I have attempted to
envisage the state of the local and
international Islamic banking industry,
including growth dynamics, human
resourcing requirements, functional
roles and the challenges ahead for
the Islamic banking industry. In this
article, I have tried to map out skill
requirements and the underlying career
opportunities for potential employees
and young graduates, and employers in
Pakistan as well as in the GCC.
INDUSTRY AT HOME
Muhammad ArsalanAqeeq
GROWING DEMAND
www.cpifinancial.net
41
EDUCATION
cont. from pg41
Projected
Growth %
Year
Assets Rs inBn
Branches
Human
Resource[Avg.
Head Count 15/
branch]
20
2012
712
1,000
15,000
20
2013
855
1,772
18,000
20
2014
1,026
1,440
21,600
20
2015
1,231
1,728
25,920
20
2016
1,477
2,074
31,104
20
2017
1,772
2,488
37,325
1%
220
Mid-level managers
15%
3300
84%
18480
Front office professional, General banking & relationship management skills along with
thorough shariah product knowledge.
Islamic Corporate/
Investment Bankers
Front office personnels, Corporate lending, credit risk & shariah facility structuring.
Shariah Product
Development
42
Shariah Compliance
Auditor/ Officer
Exclusive Islamic Banking requiring Shariah Product and processflow knowledge for
shariah governance and control.
Risk Managers
Risk management knowledge for market, credit and operational risk in addition to
shariah related facility risk and shariah compliance.
Trade Finance
Manager
Trade finance , International Codes, UCP along with shariah modalities and transaction
process flows requirements.
Operations Manager
HELP NEEDED
22000
Treasury Manager
Treasury, FX, Market Risk, Asset Liability Management with shariah compliant
invesments & liquidity management expertise.
Portfolio management, asset risk profiling, fixed and equity markets along shariah
screening and compliant investments.
Takaful Manager
Acturial underwriting, risk profiling, premium and portfolio management along with
shariah contractual arrangement and shariah investments.
Shariah Advisor
The centripetal body holding the riegns of shariah governance, control and compl.
Authority and Subject matter expert on Shariah, Fiqa, Islamic Commercial Law
www.cpifinancial.net
EDUCATION
Candidates need
to be well-versed
in conventional
banking practices
as well as Islamic
banking and
must be able to
understand and
communicate
the difference
between the two
THE REAL CHALLENGE
economic principles.
Being a nascent industry with 11
years of history, existing conventional
finance professionals need to be
trained to shrink the shortage of
experienced professionals.
The
shortage
of
skilled
professionals is graded as the one of
the key impediments to the growth
of the Islamic finance industry locally
in Pakistan, where Islamic finance
has an eight per cent penetration
rate, as well as globally, which
can only be addressed by higher
education institutes.
CAREER OPPORTUNITIES
WORLD OF POSSIBILITIES
holds a Diploma in Islamic Finance from CIMA and has experience in corporate lending,
syndication finance, project finance, credit risk review, cash flow analysis, financial
modelling and credit origination functions for conventional and Islamic banking
institutions. He is an independent corporate trainer and research supervisor in premier
academic organisations like the Institute of Bankers Pakistan, Karachi Institute of
Economics and Technology and the Shaheed Zulfiqar Ali Bhutto Institute of Science and
Technology. He may be contacted at: arswasti@yahoo.com
www.cpifinancial.net
43