On a regular basis press releases and articles are published stressing the fact that there is a lack of skilled staff within the Islamic financial industry. On an equally regular basis I speak with people who have significant experience that could be useful in Islamic financial institutions, but can’t find a job in the field. Fair enough, in some cases their experience is in the conventional financial industry. However, as long as they are willing to learn, which most of them are, their skills and expertise are easily transferable. Why is it then that they are not able to secure a job within the Islamic finance industry? The most heard reason for this is that there is nothing being advertised. Bearing in mind that these are people who are not adverse to moving abroad, the question is where the discrepancy comes from. Perhaps jobs are being filled without being advertised, or firms just work their current staff harder in case they can’t fill the positions. On the other hand, it is possible that the lack of skilled staff is used as a convenient excuse or for training companies to generate a little more interest in their courses.

Dr Natalie Schoon, CFA