Skip to main content

Islamic banking a good option for finance professionals: Time of India

HYDERABAD: Emerging markets in Islamic banking and finance in India and abroad need close to 50,000 financial experts, a requirement that can be met by the huge reserves of human capital in the country, particularly in Hyderabad. 

Speaking at a conference on Islamic banking here on Monday, M S Sheriff from the Institute of Islamic Banking Finance and Insurance (IIBFI www.iibfi.com  said, "There are 75 countries in the world which have recognised Islamic banking and finance with South Africa, USA, SingaporeSaudi Arabiaand Malaysia being a few of them. Major corporate banks such as HSBC, Citigroup, Deutsche Bank and Standard Chartered all have Islamic banking windows. There are a lot of job opportunities in this sector for the youth. The youth of Hyderabad have always shown interest and are keen on understanding Islamic banking." Sheriff pointed out that a large section of the ulema (Muslim clergy) remain unaware of banking practices and need to be trained in both Islamic and conventional banking. The training of the ulema in practical banking principles is imperative to answer queries regarding paying and receiving interest on loans and deposits. Also, Islamic banking and finance institutions require them to be on the boards of their governing bodies. 

Experts noted that Islamic banking and finance, though recognised by the Securities and Exchange Board of India in the capital market in the form of wealth management and mutual funds, is yet to gain mainstream acceptance. "Islamic finance advisors are getting competitive remuneration packages in India and abroad. The BSE Shariah 50 Index recognises 50 companies in India that have passed strict Taqwaa Advisory and Shariah Investment Solutions (www.tasis.in) norms of shariah compliance - that of dealing in halal (permissible according to tenets of Islam) products and products free from interest," said Shariq Nisar from IIBFI and London School of Economics.

Ref:
http://timesofindia.indiatimes.com/city/hyderabad/Islamic-banking-opens-job-options/articleshow/15286130.cms

More info:
Download Presentation 'Career Options In Islamic Finance' from Ethica Institute: 
http://www.ethicainstitute.com/webinar/Career_Options_In_Islamic_Banking_And_Finance_Presentation.pdf

Main site: www.ethicainstitute.com



Comments

Popular posts from this blog

Future of oil is bleak. By 2030, 95% of people may not own private cars which would wipe off the automobile industry

A futurist and clean energy expert, Toni Seba, has predicted that electric vehicles would destroy the global oil industry after a decade. By 2030, 95% of people won't own private cars which would wipe off the automobile industry, he says.

Boeing and JetBlue Airways have announced they would begin selling a hybrid-electric commuter aircraft by 2022. Planned by start-up Zunum Aero, the small plane would seat up to 12 passengers and reduce travel time and cost of trips under 1,600 km.

Ref http://auto.economictimes.indiatimes.com/amp/news/oil-and-lubes/the-future-of-oil-is-almost-here-and-it-doesnt-look-very-pretty/60972841

Can Herbalife 'Afresh' cause insomnia(sleeplessness) and heart problems?

Here is another "great" product from Herbalife. Marketed as an ENERGY drink mix. Few people know it contains Gurana seeds which have no active compound giving artificial energy other than caffeine. Afresh also contains additional caffeine

Ingredients of Herbalife Afresh Energy Drink Mix:
Maltodextrin, Orange Pekoe Extract, Guarana Seed Extract, Acidity Regulator - 330 and Caffeine Powder.

http://mall.coimbatore.com/bnh/herbalife/afresh-energy-drink-mix.htm

http://products.herbalife.co.in/energy-and-fitness/afresh-energy-drink

Side effect include insomnia, sleeplessness and heart problems, It is especially harmful for people with High blood pressure.

http://www.medicinenet.com/caffeine_tablets-oral/article.htm

PPF interest rate cut to 7.9% but are other investment options better? Here's a comparison

The Public Provident Fund (PPF) will now offer 7.9% but experts say it is still a good option for investors. Given that consumer inflation is down to 3.65%, the real rate of return of the PPF is a healthy 4.25%. 

"This is quite impressive for an option that offers assured returns," says Amol Joshi, Founder, PlanRupee Investment Service. "Investors should continue to take advantage of this long-term tax-free product," he adds. 

Even if you compare the PPF rate with the 10-year government bond yield, the scheme is attractive. "The 10-year bond yield is a better benchmark for PPF than consumer inflation," says Manoj Nagpal, CEO, Outlook Asia Capital
Currently, the 10-year bond yield is around 6.8% and the PPF at 7.9% makes it for a premium of 110 basis points. "Historically, the average premium has been around 75 bps. So, the PPF investor is today earning a higher real return," says Nagpal. Even so, some investors may be feeling disappointed by the cu…