When Mona al-Shinnawy took a job three years ago at Sharjah Islamic Bank, she already had 20 years of experience in financial control positions in conventional regional banks. Still, entering the world of Islamic finance, with its specialised terms and diverging standards, turned Ms Shinnawy back into a novice.

She was struck by the steep learning curve that awaits Islamic bankers, even though Ms Shinnawy, an Egyptian, knew the Arabic words that litter Shariah-compliant deals, from murabaha to musharaka.