The Next Step to Boost Islamic Finance Education

Knowledge and research are important tools that can fuel strategic initiatives and innovation in the industry, says education minister

MALAYSIA is recognised globally as a leader in Islamic finance. The country ranked among the top three Islamic finance markets worldwide in terms of overall development, according to the Thomson Reuters Islamic Finance Development Report 2018.

Malaysia’s Islamic banking portion also grew sixfold over the last 30 years and now holds a market share of over 30%, while takaful has also registered a double-digit growth, outpacing conventional insurance expansion.

Yet, one mustn’t get complacent as this would hinder the development of the industry. In a recent lecture at Durham University, UK, Education Minister Dr Maszlee Malik (picture) highlighted knowledge and research as important tools that can fuel strategic initiatives and innovation in the industry.