Academic sees Islamic benefit

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ISLAMIC finance could offer more stability for investors than conventional banking, according to a Yorkshire academic.

Professor Ros Haniffa, who is the director of the centre for accounting and accountability at Hull University Business School, believes Yorkshire should be taking a lead in the growing market for Sharia-compliant financial services. Ms Haniffa also claims that the rise of Sharia-compliant banking would provide more work for solicitors and business advisers.

She said: “One of the major challenges to the success of Islamic finance is the lack of experts in the field. We have a growing number of students interested in this area and perhaps this is another opportunity for Yorkshire universities to help train the next generation of Islamic bankers, accountants and lawyers.”