Islamic Finance: The Third Wave
APPROACHES TO TRAINING IN ISLAMIC FINANCE
Human capital development which is part of total development requires a unique perspective of Islamic finance that embarks on a paradigm shift from loanable capital to productive capital and impersonal lenders to financiers who are concerned for human development. Training of personnel in Islamic Finance would require a comprehensive, systematic and goal directed approach which is discussed in this article.
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Islamic Finance: The Second Wave
Islamic finance encompasses banking, insurance and capital market which are operated in conformity to the guidelines of Shari’ah principles. It is an old as well as new phenomenon at the same time. It is new and contemporary because the products operation has no precedent in the history of Islamic law but at the same time it is as competitive as conventional banking products. However, in another aspect it is an old system as these products are based on classical Muamalah principles traced back to the time of the Prophet Muhammad (pbuh).
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