Islamic finance attracting more executives from diverse backgrounds

Islamic finance is attracting increasing numbers of executives from diverse backgrounds, according to a London Business School finance professor.

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Islamic finance

Narayan Naik, professor of finance, London Business School, who teaches on the School’s Islamic Finance and Wealth Management elective, said finance students from a wide range of backgrounds are recognizing the growing significance of Islamic finance globally and within the financial sector.

“Since the financial crisis, specialist teams within financial institutions, such as those working in Islamic finance, are seen as more significant,” said Naik.

Global growth

Islamic finance has been growing globally at an annual rate of more than 10%, according to research released at a World Islamic Banking Conference in Bahrain. Naik noted that numbers for the advanced-level elective at London Business School reflect this trend, rising steadily over the years.

Only a fifth of last year’s intake identified themselves as Muslim, with students representing 22 countries overall, including Peru, Hungary, Ireland, China and Bulgaria. “Most of our students are mid-career and see the course as a way to make a switch to a more specialist route, or to take their career to the next level,” said Naik.

The Islamic Finance and Wealth Management elective is taught out of London Business School’s Dubai Centre at the Dubai International Financial Center (DIFC), where it has been based for the last 10 years. The course prepares participants studying on the Executive MBA to confidently recognize and navigate a broad range of conventional wealth management and Islamic finance concepts, tools and structures.

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