Applied Islamic financial sectors have developed into a global dimension, which is highly dynamic and growing rapidly with utmost appreciated by all. There are almost 600 Islamic financial institutions worldwide with assets estimated at more than US$ 1.3 trillions, financial investments above US$900 b. and a growth rate is estimated to be around 18% p.a. Among the master players of Islamic finance in the contemporary world are the Middle East, Malaysia, Iran, Indonesia, Brunei, Singapore, North America, Pakistan, Bangladesh, South-West Africa and Europe. The cliental of Islamic financial institutions are not confined to Muslim countries, but are spreaded over Europe, U.S.A, South Asia, South East Asia, Asia Pacific and the Far East. Providers are not confined to local institutions as global players increasingly playing major roles in the industry today by aiming the global appreciation from all regardless of the issue of one’s religion, color, culture, nationality or status.
It is widely accepted that the adaptation of the Shari’ah compliant financial paradigm is one of the fastest growing areas of the banking, finance & corporate reality across the world. The forecasts predict that, there will be significant growth in this sector over the next five to seven years. However, this growth is dependent on successful professional development, risk management, professionalism, product innovation, regulatory frameworks, marketing strategies, research & discovery and customer satisfaction that all professionals, regulators, practitioners, customers and participants of the banking -financial industry must attend to. All these may be achieved only through an Islamic Corporate Human Capital development plan & its effective operation.
Thus, considering the above needs & prospects, it is timely to establish a first ever “World Islamic Corporate Human Capital Development Hub” to centralize an effective movement of Shari’ah standard of corporate professional development with a global coverage. The establishment of the hub may resolve the skill & professional crisis faced by the contemporary global Islamic financial & Corporate industries and environment. This may eventually contribute towards dynamic growth with sustainability and greater achievement in the Islamic corporate & financial sectors of the world.
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