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Chat With Muath Mubarak

Sadia Karim

MM talks with Sadia Karim, the creator of Yurizk™, the first and so far only online interactive directory of global providers of Islamic Finance courses, certifications, degrees, training and workshops. Yurizk™’s mission is “to accelerate and facilitate the process of creating qualified professionals in the Islamic Finance industry and to make people in every corner of the world aware of the concept of Islamic Finance.”

MM: Could you tell us briefly your aspirations for the Islamic economy? Sadia: First of all, thank you for allowing me to share my perspective with your audience. My aspiration for the Islamic economy is to leave a legacy towards establishing a global economic system which is driven by universally shared and upheld values such as justice, morality and ethics based on the principles laid out by the sources of Islamic Legal Jurisprudence in order to benefit not just Muslims but all of humanity. MM: You are the founder of Yurizk. What made you launch Yurizk and how do you see your progress? Sadia: Before launching Yurizk, I was helping a family member look for Islamic Finance courses. While researching that online, I saw that it was not easy to find what I was looking for. There was no dedicated website where I could find a list of institutions 44 Islamic Banker Asia April 2014

offering such courses and providing their details. I saw that gap and while I was doing more research in Islamic Finance, I became very interested in the industry and decided to do something that could contribute to the cause of Islamic Finance in general. After several years, when I was ready to launch an entrepreneurial venture, I decided to focus on Islamic Finance education and awareness. To start, I wanted to bridge the information gap. So in 2012, after much research and collection of a huge amount of data on Islamic Finance education providers, I launched Yurizk as a dedicated online portal or directory to bridge the information gap for global Islamic Finance education. The objective was to facilitate and accelerate the process of developing human capital for the industry, which has been a critical need. The approach was to minimise the time and effort of individuals who

were actively looking for Islamic Finance education, and to bridge the gap between education providers and education seekers. However, there is a lot still to be done as the whole industry is faced with numerous challenges. Human capital is just one but critical aspect of those challenges. In terms of progress with these objectives, Yurizk managed to draw active users from over 118 countries within 2 years of inception. Our subscription has been increasing at a consistent rate, affirming the increasing demand for and interest in Islamic Finance and its education services. Yurizk also created a platform for education providers to promote their courses. Leveraging Yurizk’s strong network and promotional services, they are now able to reach new market segments, regions which were previously untapped. We see these as examples of progress for Yurizk’s

broader mission of raising global awareness and as a disseminator of educational resources on Islamic Finance. In addition, we created a research service to provide the industry with critical knowledge backed by numerical data. Our Global Islamic Finance Education 2013 that we released last year is our first report. It has been recognised as a critical contribution to the Islamic Finance education sector by respected authorities and practitioners in the industry and was referenced in major news and media outlets, including the State of the Global Islamic Economy Report by Thomson Reuters/DinarStandard. MM: What is Yurizk’s vision and how do you provide solutions to the industry? Sadia: Yurizk’s vision is to be a leading contributor in facilitating the establishment of a globally sustainable economic system with universally shared values and that will provide tangible solutions to the widespread economic problems we are seeing today. It may sound idealistic, but historically very few great things in this world were achieved without an idealistic view and the problemsolution approach. MM: Yurizk released the Global Islamic Finance Education 2013 at the end of 2013. Could you tell us briefly what its findings were? Sadia: The Global Islamic Finance Education 2013 report released last year is the first in the series of Islamic Finance education-related reports from Yurizk. The objective of this report was to reveal critical insights into where the Islamic Finance education sector stands today in terms of numerical measure and in the global context. Critical findings of the research report are as follows (all data is based on research conducted between 2012-2013): • There are 742 institutions globally that are involved in the dissemination of education and knowledge in Islamic Finance. • Pakistan, Malaysia, United Kingdom, United States, and United Arab Emirates are among the top countries in terms of the number of Islamic Finance education

and knowledge services providers. • 85% of the initiatives within Islamic Finance education and knowledge services are potential contributors towards skill building or professional development in the industry and 15% of educational and knowledge dissemination initiatives are potential contributors towards research and innovation. April 2014 Islamic Banker Asia 45

Chat with Sadia Karim, Founder & CEO, Yurizk  

Muath Mubarak interviews Yurizk Founder and CEO, Sadia Karim. Published in Islamic Banker Asia Magazine April 2014.

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