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Building Intellectual Capital in Islamic Finance
Brick by brick, tile by tile
Islamic Finance is a business and operational model that predominantly relies on its intellectual capital, knowledge assets and knowledge managers to drive its evolution and sustainability in both terms, qualitative and quantitative. Yet some institutions offering Islamic Financial Services (IIFS) often lack the tools to help them identify the knowledge assets and the knowledge management value proposition it could develop to deploy resources and achieve efficiency and profitability.
A knowledge management strategy could help IIFS build their intellectual capital and strengthen their capabilities on functional, operational and organisational fronts. The discussion highlights the importance of developing a relevant set of tools and resources that help IIFS build capabilities in knowledge management and ultimately build adequate intellectual capital to drive and achieve the desired business objectives. A common theme that emerges from the discussion is that IIFS ought to have a collaborative approach towards the concept of knowledge sharing, leveraging their scarce resources and expertise and proposing practical steps to develop a knowledge-sharing culture in the industry.