Islamic Finance: currently 5 jobs.The latest job was posted on 21 Mar 19.
Islamic finance careers are flourishing in Singapore, due to increasingly important trade links between the Middle East and Asia.
Islamic finance is an approach to finance and banking which is compliant with Islamic law, or Sharia. This is a highly complex area, but at its most basic it involves handling Sharia compliant products where interest is forbidden.
As a private equity portfolio manager in Islamic finance, for example, you would ensure that your client's portfolio was free of investments related to things like alcohol or gambling. You would also vet the investment instruments and strategies, to avoid short selling or leverage. Because investments must take the form of tangible assets which can be bought and sold, derivatives are not Sharia compliant.
Across all finance sectors, including retail banking, private banking, investment banking, insurance and asset management, Islamic finance careers tend to mirror those of the conventional finance sector.
As a specialist in Islamic finance, you may find a role as an analyst, product manager or relationship manager, of you may carve out a consultancy career.
Routes into Islamic Finance
In order to obtain an Islamic finance position, you will need relevant qualifications. Increasingly, financial university courses offer Islamic finance specialisms, and major institutions such as CIMA also provide Islamic finance training, qualifications and certification.
Other than the need to demonstrate Islamic finance knowledge, routes into finance careers are identical to the opportunities enjoyed by those in conventional finance roles.
Some of the highest paying Islamic finance positions are to be found in places like Riyadh and Jeddah, in Saudi Arabia. In non-Muslim countries, however, Islamic finance specialists may in higher demand as their skills and knowledge are relatively less common.
Wherever you choose to work, the job market for Islamic finance specialists is growing, and looks set to continue to grow in the near and mid future.