Corporate governance specialist firm Pavilion has bolstered its expertise in Islamic Finance with Director Bernard Swain successfully completing the Chartered Institute of Securities and Investment’s (CISI) Level 3 Certificate in Islamic Finance.

Considered an international benchmark in today’s global finance industry where Islamic finance features increasingly heavily, the qualification covers Islamic finance from both a technical and a Sharia perspective.

This achievement enhances Bernard’s capabilities as an independent director in developing highly valuable knowledge of Sharia principles and their application to Islamic finance. It also complements his existing qualifications as a Fellow of the Royal Institution of Chartered Surveyors and holder of the Institute of Directors’ Diploma in Company Direction and demonstrates Pavilion’s commitment to a rapidly growing area of business.

Commenting on his success, Bernard said: “Given the significant anticipated growth in the Islamic finance sector, there is a clear need for directors who can demonstrate that they fully understand the responsibilities of overseeing Sharia compliant structures and transactions. Jersey has a good reputation for Islamic asset management and is one of the preferred domiciles for sukuk issuance, particularly in respect of real estate. This makes it well placed to take advantage of future growth by offering secure, well regulated, and expertly managed structures to Middle East investors.”

Pavilion Managing Director Sue Fossey, added: “I am delighted that Bernard has achieved this important qualification.  We see Islamic finance as a prime growth area in Jersey and as such it is vital that our professional independent director offering has the technical knowledge to match the market need.  With the value of Sharia compliant assets worldwide forecast to grow from US$2 trillion to US$3 trillion by 2019* and Jersey aiming to remain a centre of choice for Islamic finance, Pavilion is well positioned to deliver added value to clients by giving them confidence that we fully appreciate the fundamental themes of this market .”

*Standard and Poor’s

Bernard Swain, Director, Pavilion