Deloitte Appoints Shariah Scholar
Deloitte, the business advisory firm, has appointed Mufti Hassan Kaleem as Shariah
scholar in its Islamic Finance practice, it announced recently. Islamic Finance currently accounts for around 1-2% of the global financial
services industry, yet with Muslims representing approximately 20% of the
world’s population and growing, the market is likely to see continuing
double digit growth, according to Deloitte. There is a great shortage of qualified experienced Sharia’a scholars,
but enormous demand. Deloitte revealed that Mr Kaleem possesses significant knowledge and experience,
gained through a combined 16 years of education and practical experience. He
holds a variety of consultancy posts in Pakistan with organisations ranging from Islamic bank and insurance
companies to advisory committees for the State Bank and the Securities and
Exchange Commission. Deloitte believes that London is well positioned as a gateway for Islamic Finance,
especially if the current Treasury consultation on the UK Sovereign Sukuk (Islamic
bond) leads to an actual issuance. “London represents a key location for Islamic Finance, as the principal
based governance and regulation is more adaptable to accommodate innovation
such as Sharia’a compliant products,” commented Maghsoud Einollahi,
global head of Islamic Finance at Deloitte. “I was drawn to working with Deloitte as I will be working on an array
of different financial products from tax, to maybe government and institutional
issues,” concluded Mr Kaleem. .
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