Davide Barzilai, a partner at Norton Rose, says there is a real dearth of lawyers who understand the ‘drivers’ behind the Islamic banking industry in Asia.

Speaking to ALB after a recent move from the firm’s London headquarters to Hong Kong to build its Islamic banking practice, Barzilai said that while there is no shortage of astute banking & finance practitioners, very few are able to combine these skills with a deep understanding of Shariah law.

“There are good opportunities and strong growth potential [for Islamic banking] in the Asia Pacififc,” he said. “There is always a shortage of suitable lawyers in the Islamic finance sector who have strong banking legal skills as well as an understanding of Islamic drivers.”

But while Barzilai bemoans the lack of suitable candidates available, he does note that lawyers with strong skills in banking & finance can be trained up.

“Any good banking lawyer can make a good Islamic finance lawyer even if they are not necessarily familiar with Islamic drivers and lack knowledge of Islamic finance. That could be trained,” he said. ALB