Importance Of Islamic Finance In Accountancy Growing

Tue, 01 Dec 2009

Islamic finance is becoming an increasingly important part of the global accountancy sector, according to one expert.

Daud Vicary Abdullah, the recently appointed global leader of Deloitte Touche Tohmatsu's Islamic Finance industry group, explained that the rapidly expanding industry is presenting opportunities for new areas of growth for "companies in various businesses around the world".

He added that Deloitte's member firms already provide Islamic financial institutions with a range of services including audit, tax and consulting, as well as advice on issues regarding sharia compliance.

Mr Vicary Abdullah has been brought on board at Deloitte to ensure member firms offer Islamic finance groups the best possible service.

International sharia expert, Dr Mohd Daud Bakar, recently warned that the Islamic finance sector could face a shortage of talent in the future unless accountancy institutions address the issue of staff development now.

He called on firms to take action by ensuring they train staff so that they develop the necessary skills to help them succeed in the field.
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