Sources: Statistics Sweden and the Riksbank  BIS central bankers’ speeches  17  Figure 9 Forecasts 2013–2014 for CPIF inflation 2014 Annual percentage change, annual average 2,0  2,0 The Riksbank Other analysts  1,5  1,5  1,0  1,0  0,5  0,5  0,0 jan-13  0,0 jul-13  jan-14  jul-14  Sources: Respective forecasters (8 of them), Statistics Sweden and the Riksbank  Figure 10 Inflation expectations, money market participants Annual percentage change  Source: TNS Sifo Prospera  18  BIS central bankers’ speeches
It is heartening that these institutions have had notable achievements since their inception. An example is INCEIF, where as to date, 107 students have graduated with the Chartered Islamic Finance Professional qualifications, while an estimated 1,000 more are at different stages of completing the qualification. As the pool of talents within the Islamic finance industry widens with the entries of new players, the competition for the best talent would also intensify as demands increase for the right and most suitable talent. It is therefore opportune for the education and learning service providers to constantly review their teaching methodology and learning contents, and to be updated on the skills requirements of the industry. Greater collaboration between the industry and academia is also an important aspect to align the training and development with the business requirements of the industry. Moving forward, more initiatives are required to expand the business horizon and product offerings in Islamic finance. Further in-depth research on Shariah issues relating to risk mitigation, liquidity management and hedging would enrich the research and development function to facilitate in the generation of ideas and creation of new ground-breaking Islamic financial products. The combined market knowledge and insights from education and training institutions such as INCEIF and ISRA can also provide meaningful contributions to the global Islamic finance industry that address both market needs and Shariah preservation.