KARACHI - Publicitas Islamic Financial Training (A Division of Publicitas Pvt Ltd) has initiated courses for development of Islamic finance professionals. The course entitled Profit and Loss Distribution for Islamic Banking was held recently. It is the 2nd in a series of 18 courses aimed at developing an expert interactive forum for all Islamic finance Professionals. Spread over a period of 12 months, the courses are planned and directed by the Ford Rhodes Sidat Hyder & Co, a member firm of Ernst & Young Global Ltd. The series was initiated with a two-day course in Accounting for Islamic Finance which was attended by prominent Islamic financial professionals. Course conductor Omar Mustafa Ansari, Partner, Islamic Financial Services, Ford Rhodes Sidat Hyder & Co, explained the significance of the course saying, Profit and loss sharing with depositors is the essence of Islamic banking. The subject deals with issues relating to core concepts of fairness and equity inherent in Islamic finance and banking. The course is designed to instil comprehension of principles and skills relating to the subject, whereby enabling middle management and professionals to improve their understanding of Shariah compliance. The past three years have witnessed rapid global progress of Islamic financial institutions. Despite considerable research, there lies a gap in functional and theoretical frameworks. Non-interest-bearing part, being the crux of the system, is one of the many pillars supporting the Islamic financial system.