The Islamic Finance and Banking industry has been identified as one of the fastest growing sectors within the global economy. However the dearth of Islamic Banking and Finance professionals not only locally but also regionally and globally is impeding the progress of the industry. As such there is a great demand for professionals to serve in this very happening industry.
With this enormous growth in the Islamic Finance industry, the competency gaps are increasing. Recent studies and statistics show that the entire industry is in need of a skilled workforce, to drive the Islamic Finance industry towards fully-fledged sustainability. 28.7% Sharia expertise, 28.4% innovation and product development skills, 11.4% Technical Islamic Finance knowledge and practical experiences, 7.4% strategic planning and critical thinking skills, 24.1% other talents are lacking in the industry. This clearly shows every passing moment is a challenge for all the players in the Islamic Banking & Finance industry, to get equipped with a vibrant and knowledgeable workforce and to capitalize on the enormous growth potential and opportunities of this lucrative and promising industry.
We at First Global Academy, (FGA) have taken that responsibility, in order to build a new breed of professional Islamic Bankers and Islamic Finance Specialists in their chosen field, and have introduced some globally recognized study programs in the field of Islamic finance, Takaful, Islamic wealth management, credit management, risk management and liquidity management programs from an Islamic finance perspective. We are immensely proud of having initiated various Islamic Banking and Finance programs to quench the thirst of this lucrative industry by bridging the human capital gap of the industry.
Over the last decade, since 2006, FGA has trained more than 3000 students and professionals locally and globally in the field of Islamic Banking & Finance, holding some prominent positions in Islamic Finance Institutions locally and in the Middle East. Further, 100 plus local students have obtained their Associate Membership (ACSI-UK) awarded by the prestigious Chartered Institute for Securities Investments (CISI) – UK, the largest and most widely respected professional body for those who work in the securities and investments domain.
Since its inception in 1975 and over the last four decades the Islamic Finance industry is the only financial sector which grows at a double digit rate of 10% - 15% growth rate year on year across the financial world. The worth of the industry has been estimated as of 2014 at $1.87 Trillion and the statistics show that this figure will grow up to $5 Trillion by 2020.
The Islamic Finance industry continues to reach new heights and these expanding trends suggest that the industry is moving towards a much deeper and more sustainable economic system. In other words, it is considered a global success story.
The global market is actively embracing the richness of the Islamic Finance industry and taking strong initiatives to tap into the riches of the industry by attracting Foreign Direct Investments (FDIs) to their respective countries to fund their much needed infrastructure and revenue generating projects.
“The time has come for Sri Lanka as well to be part of the Islamic finance bandwagon mainly to tap into the riches of this multi-trillion dollar industry and to shift the economy towards a more ethical, social and moral banking system in parallel” said Mr. Thowfeek, Founder of FGA.
“We at FGA are bridging the talent gap of the Islamic Finance Industry locally & globally, where not only Muslims but people from all faiths, can benefit by being professional Islamic Bankers to improve the lives and financial choices of the people who are seeking an alternative system of banking and finance” said Muath Mubarak, CEO of First Global Academy (FGA).
Also FGA has organized a special program targeting the Bankers and Professionals to get equipped with Islamic Finance Qualification (IFQ) within 8 weeks, commencing on 22nd February 2017. The students will have the privilege of getting a deep knowledge of Islamic Banking & Finance industry growth potential and the enamors opportunities during the program, so that students and professionals can get into a lucrative and promising career path, to tap into the riches of this Multi-Trillion Dollar Islamic Finance industry.
For further details log into www.firstglobalacademy.com
About FIRSTGLOBAL Academy (FGA)
FGA has pioneered the introduction of some highly recognized and quality courses of study in Islamic Banking and Finance in Sri Lanka since 2006. FGA is an award winning and an accredited educational institute on a local and international level As recognition for our immense contribution, we (FGA) have been awarded as,“Best Islamic Finance Training Provider – Sri Lanka 2017” by Capital Finance International (CFI.Co), Two consecutive years to win “The Best Islamic Finance Education Provider in Sri Lanka – 2015/2016” by Global Banking & Finance Review Magazine – UK, “The Best Islamic Finance Education Provider in Sri Lanka” by the prestigious ‘Global Banking & Finance Review – UK' magazine, "Pioneering Islamic Finance Education Initiative Award 2016" by the Global Islamic Finance Awards (GIFA), “Islamic Finance Service Provider of the Year – 2016” at the inaugural Islamic Finance Forum of South Asia (IFFSA) awards ceremony organized by UTO EduConsult - Sri Lanka.
In addition it is also the only educational institution which has been recognized as “Education First” in the first ever Islamic Finance country report 2011 by KPMG – Sri Lanka and was covered in the Global Islamic Finance Forum – GIFF2012 – Country and Business Guide, as a ‘Talent Development’ institution for the Islamic finance industry, coming from Sri Lanka.
FGA has been accredited by a number of institutions such as Chartered Institute for Securities & Investments (CISI) – UK, City & Guilds – UK, Institute of Certified Management Accountants (ICMA) as well as the Sri Lanka Institute for Credit Management. Recently the Tertiary and Vocational Education Commission (TVEC) - Sri Lanka, have also recognized FGA’s programs.