Benefits of Islamic Banking and Finance

In this blog, we have talked about the importance and benefits of working in Islamic banking and finance. Give it a read:

Importance of Islamic Banking and Finance

Today, Islamic banking and finance are one of the thriving financial sectors of the world. Islamic banking and finance are globally developing moderately since there has been a huge influx of potential investments in the halal sector, infrastructure, and Sukuk bond especially. The significance of Islamic banking becomes very much clear as we review the numbers. At the present time, there are more than 500 Islamic banks and investment firms operating globally contributing $1.72 trillion of the industry’s assets as of 2017. Furthermore, the International Islamic Finance Forum predicts that in the following 2 to 3 years, Islamic banks will hold up to half of all investment funds of the world’s 1.2 billion Muslims. The factors accelerating the growth of Islamic financial markets are directing investment towards the massive growth opportunities in the burgeoning and fulfilling Islamic sectors.

Islamic banking is significant for the sole explanation that demand for such banking services is surging high. From individual customers to two world largest businesses whatsoever the Islamic finance market is tremendously large and strong and has just barely started to the fleet.

The Benefits of Working in Islamic Banking

For those who want to establish a promising career in finance, Islamic banking and finance speak to a remarkably potential-filled specialism. From the security of a job to career growth chances to high monetary rewards, it is a field where those with the basic required aptitudes, capabilities, and responsibility are setting examples and writing their success stories.

Only a portion of the advantages of working in the Islamic Financial industry include:

  • Little Competition

Given the way that Islamic banking is as yet considered something of a specialism catering to a specific segment of individuals or a niche in the West. Since it is developing and expanding all over the world, there is significantly less rivalry to stress over when hoping to set a career in this field and securing a job in any case.

  • Huge Demand

In spite of the fact that it might keep on being viewed as a specialism catering niche for quite a while, demand for proficient Islamic banking and finance services is quickening at a rate that far outpaces that of conventional western banking systems. Investment firms and banks dealing in this, especially in Pakistan and the Middle East, have a great demand for skilled and qualified Islamic bankers and financial experts.

Learn about Islamic banking with CIE’s banking and finance courses online.

  • Job Security

Islamic banking is one of the many modern sectors that are generally ensured to keep developing and expanding out an amazing pace with certainty. Regarding career stability and job security, it is an industry that can ensure a sound and secure career path for life.

  • Financial/Monetary Rewards

As in every aspect of finance, there is tremendous potential for a great handsome income as one keeps climbing the career ladder in an Islamic banking system. The plus point is that there is comparatively less competition for each job post than the conventional banking system.

  • High Moral Standards

The plus point of an Islamic banking and financial system is that there is a perception amongst people that Islamic financial institutions are associated with a high moral standard and which is very true. It operates in a system that is religiously and morally right and never deals with risk or uncertainty.

CIE, Centre for Islamic Economics is a platform that offers courses on Islamic banking and finance, Takaful, Islamic trade, Islamic business laws, and other related products of Shariah. Check out our list of banking courses online and enroll yourself.