I would like to turn my attention this month to area of our business that is gaining in traction and requires considerable thought, analysis and attention. This relates primarily to technology, otherwise known as FINTECH, and how it relates to the real world and the real economy. I must confess that, as someone in their 60's, I cannot claim to have any particular expertise in this area. However, I would like to make some observations (based purely on my experience) and to promote not only a discussion but also to speed up the process of realisation.

The subprime crisis that peaked in 2008 has pushed the world economy into the deepest recession since the end of World War II. As doubts mount over the proper functioning of the conventional banking and finance industry during the crisis, growing attention is being given to Islamic banking and finance. Headed by Iran, Saudi Arabi, and Malaysia, Islamic finance has penetrated more than 65 countries around the globe. By the end of 2013, Islamic financial assets were estimated to be around US$1.3 trillion to US$1.5 trillion. Although Islamic assets are roughly less than 1 percent of global financial assets, their rapid growth, especially in Southeast Asia and the Middle East, and their superior performance during the crisis have led many to believe that Islamic finance is a viable alternative. The rapid growth of the Islamic finance can be seen in various regions of the world. To provide perspective and an overview of the Islamic finance industry, key developments of the industry for various regions are highlighted in this introduction.

This Eaglemont Career Book on Islamic finance consultancy aims to paint an accurate and in-depth picture of the good, the bad and the downright challenging aspects of the work to give the reader the best possible picture of what lies ahead if they decide to pursue a career path that takes them towards this destination. The intention throughout the book is to answer the same questions that jobseekers and students might ask themselves.

This book looks at Islamic finance from the perspective of the consumer who has to make very important financial decisions throughout his or her life. It provides timely and highly relevant lessons on the: principles of Islam that form the bedrock of Islamic finance; similarities and differences between conventional and Islamic finance transactions; and types of Islamic financial products and the various contracts underlying them.

This volume explains and updates how conventional finance products work-from mortgages and leases to trade finance and insurance-before delving into their Islamic versions. Three new topics are added in the second edition: microfinance, the ethical company and wealth succession.

Interview session with Daud Vicary Abdullah, President & Chief Executive Officer of INCEIF on "Issues in Islamic finance: starting up an Islamic financial institution in China".

This paper discusses a global overview of liquidity management in institutions offering Islamic financial services. It also investigates the challenges and issues which impact on an effective liquidity management process. The main challenge and issue with liquidity management is to make it a globally accepted process by having global standardisation. This would promote transparency as well as familiarity within the Islamic finance industry. Our findings show that there are still many gaps to be filled, especially in the area of Shari'ah-compliant liquidity management schemes, cross-border liquidity market and infrastructures, availability of adequate short-term financial instruments, robust standards of documentation, product, process and accounting, uniformity in tax, legal and regulatory frameworks, an integrated payment and settlement system, as well as integrated liquidity monitoring and supervision. It is well accepted that liquidity management is the life-blood of a business process. Therefore, it is crucial to have a globally accepted process in order to develop a high-quality liquidity management framework. As such, creating awareness through education, having the right perceptions about Islamic finance, and having sufficient cross-border liquidity will bring liquidity management to the next level.

Interview session with Daud Vicary Abdullah, President & Chief Executive Officer of INCEIF on "Perspective on Islamic finance: Islamic finance 2.0".

This month I would like to build on the discussions we have been having over the last few months and reflect on the work we have to do in order to further promote the values of Islamic Finance. In the past month I have had the opportunity to address audiences at conferences, run workshops and discussion groups, contribute at panel discussions as well as some face to face discussions in Zurich, Geneva, Kuala Lumpur and London. Much of what I have been speaking about is based on Relevance, Trust and Impact #RTI, which I discussed at some length last month. In addition to that I have been painting a picture of the alignment between the 17 UN SDG's and the objectives of the Maqasid al Shariah. I could burden you with the numerous observations and anecdotes from all the interactions over the last 30 days, but I will stick with just three.

This month I would like to use a theme that I have been using for several months now, which appears to resonate quite well with many different types of audiences all over the world. That theme is "Relevance, Trust and Impact." Relevance applies to individuals as well as Corporations. I recall a discussion I had with a leading Shari'a scholar several months ago, where he was citing the Quran and the importance of remaining relevant at all times. He was using this in the context of a growing concern he held that many of his fellow scholars were becoming increasingly irrelevant to the needs of humanity in the 21st Century! This discussion got me focused and it started to get me thinking about myself, my organisation and, indeed, what my next steps should be.

Islamic finance as an alternative. Islamic financial sector is in a unique position to promote financial innovation and bring stability to global finance, as long as it is correctly nurtured and developed internationally.

This month I would like to focus on the opportunities that we have ahead of us, so long as we remain patient, persistent and focused on making an impact. Overall, I would like to take a brief look at 4 areas that I believe will be critical during 2017 to take us further forward and into the great wide open. All of them could be tied back to my EPL theory (Education, Perception and Liquidity). All of them have the capability of having sustainable impact.

Economic and financial crimes, defined generally as crimes against property, have been increasing rapidly in recent years. In the 2014 Global Economic Crime Survey it is noted that among the 5,000 business organisations across the world responding, 37 percent report being victims of economic crime, up from 30 percent in 2009. No country, society, culture or community has been immune. The financial crisis focused attention on elite white-collar crimes while empirical research was pointing to another alarming development: “the everyday crimes of the middle class”, committed by those “[...} at the very core of contemporary society” (Karstedt and Farrall, 2007).

As many of you will have heard, I shall be retiring from INCEIF shortly. This does not mean that I am retiring from Islamic Finance and Life in general. It does mean I shall be able to spend some more time with family and to reflect and act on some key focus areas with which I will still continue to be engaged. Make no mistake, I shall remain involved at INCEIF, but just in a different role.