MBSB Bank, Public Islamic Bank, and Bank Rakyat are leading the charge for a future-ready Islamic finance workforce in Malaysia.

According to the Islamic Banking & Finance Institution Malaysia (IBFIM), the three banks have invested more than RM3 million to upskill close to 5,000 talents as they seek to ensure employees’ skills remain relevant, as the industry and complexity of Shariah issues evolve.

IBFIM Chief Executive Officer (CEO) Yusry Yusoff said, “The remarkable growth of Islamic finance and the speed in which technology is changing, coupled with the drive for a global Islamic digital economy means businesses must ensure that their employees have the necessary competencies to thrive.

“The three banks and our regional client, Bank Islam Brunei Darussalam’s (BIBD) focus in upskilling professionals strengthens their competitive positioning as such investments can only lead to invaluable returns.”

As one of the country’s knowledge leaders, IBFIM has trained and nurtured more than 32,000 talent and experts in the Islamic financial services industry.

In appreciation of the banks’ human capital development investment with IBFIM, Chairman and CEO of Maybank Islamic Bank Berhad, Dato’ Mohamed Rafique Merican presented the IBFIM League of Excellence Awards to MBSB Bank, Public Islamic Bank and Bank Rakyat. He also presented the IBFIM Outstanding International Collaboration Award to BIBD.

The awards were received by MBSB Bank CEO, Datuk Seri Ahmad Zaini Othman; Public Islamic CEO, Abu Hassan Assari Ibrahim; Bank Rakyat Managing Director/President, Dato' Zulkiflee Abbas Abdul Hamid; and BIBD’s Learning & Development Manager, Puan Nurul Jafriah Abdullah.

The growth of the sector continues to drive the demand for qualified talents. There are 1,407 Islamic financial institutions globally, from retail to investment banks and asset managers. The 2017 ICD-Reuters report put the Islamic finance industry at $2.2tn of assets in 2016 and forecast that it would grow to $3.8tn of assets by 2022.

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