National Relationship Manager, Al Rayan Bank
Obaidullah Khan is a Professional Ambassador for our MSc Islamic Finance courses.
Why Do You Endorse the Course?
Islamic finance and banking has a niche market and the fastest growing industry not only in UK but globally. Just over 3.3 million Muslims live in UK and they continuously looking for Sharia Compliant financial products and services. The industry is very new in the UK but growing rapidly and high street conventional banks have also introduced Sharia Complaint banking. As there are shortage of expertise in regulators in the Islamic Financial industry, more and more banks are now creating completely separate departments to hire experts of sharia law in finance. The financial institutes in UK require qualified and specialised staff to join their organisation. Over 17,000 registered NGOs in UK, they provide their services in UK and overseas and they require Islamic Financial advisers to help in running the NGOs.
Birmingham City University has introduced B.A (Hons) and Master degrees in Islamic finance and accounting during 2020/21. These courses will help students to understand basics of Islam, Sharia Law and Islamic Finance which will prepare specialised workforce in Islamic finance and they will have opportunities to meet the demand in the market.
What is your background?
I graduated from London obtaining MBA in 2000. I have been working in banking and financial sector for the last 21 years. I have worked for Barclays Bank as AVP in West Midlands, in commercial banking and international trade. I am currently working as a National Manager for Al Rayan Bank, the only Islamic bank that has high street presence in UK.
During my banking career I have delivered several trainings and seminars in Cyber Fraud, Business Growth, international trade, Finance for start-ups and established businesses, compliance, financial sharia law and have delivered lectures in universities including Social entrepreneurship, Challenges, Growth and opportunities of Islamic Banking.
I have worked with DIT (Department of International Trade) to promote international trade and investments, mentor and encourage UK businesses to expand their operation internationally. I have worked with foreign governments consulates in Midlands by conducting seminars to engage businesses and provide opportunities to connect them with suitable international partners for investment and international trade.
What is your specialism?
I am an experienced banker, financial advisor and consultant in both conventional finance and Islamic banking. I have practical knowledge of Islamic products, compliance, Sharia Law, international trade and commercial finance.
What are you employability tips?
I am often approached by youngsters who wish to make career in Islamic finance and I find myself repeating regularly, in response. Often I am asked, what’s the career prospects in Islamic financial sector? My first-hand experience is that the industry needs Sharia experts, finance/funding officers, internal auditors, regulatory specialists and risk specialists.
In the area of Islamic banking and finance knowledge capacity that includes sharia comprehension and application are necessary in insuring effective implementation of knowledge in this sector. Accountability, integrity and knowledge capacity are the other three essential characters in graduating students to be employable. So if someone wishes to be employed by an Islamic financial organisations then they will have to obtain specialists skills which are in demand.
Such skills can be acquired by choosing appropriate university degree and the course BCU is offering has all the contents to help students. BCU can become a feeder of the industry to meet employers need.
In last 20 years financial institutes in UK have hired thousands of employee but most of them were not specialised and all organisation have spent massive budget to train them at the job. These institutes have now realised that they need specialise staff and continuously looking for new employees.
20 banks in the UK offers Islamic finance and currently UK is the leading Western country who has most Islamic finance providers almost double of USA. Over 200 international law firms are based in London, 25 of them have established dedicated Islamic finance units. UK’s largest accounting, consulting and professional services firms have Islamic finance departments.