There Are Untapped Opportunities And Potentials In Islamic Finance – Hajiah Olanrewaju-Odesina

The Lead Consultant, Nectar Accounting Services, Hajiah Wasilat Olanrewaju-Odesina has revealed that there are so many untapped areas of opportunities and potentials in Islamic Finance, urging members of the public to join the Institute of Islamic Finance Professionals (IIFP) so as to know these areas.

Hajiah Olanrewaju-Odesina made the disclosure in a chat with Muslim News after her presentation on the theme, “Islamic Finance: Tapping the Potentials”, at a one-day seminar organised by the Institute of Islamic Finance Professionals (IIFP) at the Faculty of Science Hall, University of Lagos, over the weekend.

Olanrewaju-Odesina, a fellow of Association of Certified Chartered Accountants (ACCA) noted that those who have proper understanding of how Islamic Finance works can serve on the Shari’ah Board of banks operating the Islamic banking system.

She said, there are opportunities in Islamic Finance. People normally think that because everything in Islam is all about Shariah, they cannot invest. The truth of the matter is that everything in Islam is halal unless the Shariah says categorically that such thing is wrong. There are a lot of opportunities in Islamic Finance: investment opportunities, joint venture, takaaful, etc.

According to her, there are a lot of banks coming up in Nigeria saying that they want to practise Islamic Finance. If Muslims are not aware of these banks, and they don’t know the things they offer, how can they be a part of the bank by working there? she queried.

“Before you open such banks, there must be a Shari’ah Board charged with giving advice and reviewing the products of Islamic Finance. They can work in those areas. There are opportunities for being self-employed. There are also opportunities for working in banks on the Shari’ah Board,” she added.

Advising the participants, Hajiah Olanrewaju-Odedina, who is also a member of the Institute called on the participants to go for training on Islamic Finance and pursue post graduate degrees in any area of Islamic Finance, adding that, “the seminar only introduced them to the basics.”

She also enjoined them to join the Institute for more opportunities.

Other speakers who shared their knowledge on the theme at the seminar were Dr. Tajudeen Yusuf and Dr. Jubril Salaudeen. Read their reports HERE and HERE.