Explore Your Career in Islamic Banking

Islamic Finance refers to a system of banking and finance which consistently follow the principles of Islamic law (Shariah). The law prohibits the payment of interest fees for lending money.

Generally, Islamic bankers and financial professionals follow the Western banking style of working with one major difference that the Islamic banking industry follows the rule of Islamic Law. This means that everything is done under the umbrella of Islamic Banking. The financial professionals are responsible to build and maintain the banking industry.

The Islamic banking sector is growing with an incredible pace and if you plan to explore your career in it, typical duties may include:  accountancy for clients and businesses, preparing and filing tax returns, advising on investment opportunities, budgeting and forecasting, working with the major and minor financial sector, assisting new businesses and start-ups, monitoring of legitimacy and ethics and building connections with western banks and businesses.

If you want to pursue a career in Islamic Banking, you need to be good with numbers. In addition, a great deal of respect and responsibility are required to work with strict rules and code of conduct. They need to be well informed about Islamic Banking and the way business is done in the Islamic world. 

To become a competent Islamic banker you need to have flawless attention to detail, be natural solution provider, patience and ability to work under intense pressure and have an investigative nature and total tenacity. They should have the willingness to travel and outstanding communication skills and integrity to go ahead in life.

Those who prefer to work in Islamic Banking reap the rewards which are considerably less competitive than western banking positions. Usually accountants’ salaries vary around £30,000, investment analysts around £45,000 and banking executives/directors in excess of £100,000.

Most of the bankers follow standard office hours, though many service providers work in evenings, weekends and whenever deadlines demand. International traveling is also required to explore further opportunities. 

Islamic Banking is an extremely complex and specialist field of banking and if you want to join this field, you need to be familiar with key theory and the basics of Islamic financial law to operate in a manner permissible in Islamic banking. Many public and private institutions are offering high-end Islamic banking courses, developed by noted academics and respected industry leaders that could change your life.