Whichever team carries off the Jules Rimet trophy in Qatar 2022, the tournament will certainly be an unrivalled global opportunity for the Islamic world to showcase the blossoming of Islamic finance and Shari'ah compliant commerce.

Underpinned by a multi-disciplinary infrastructure of Islamic products and professionals, ranging from Islamic scholars, through catering to the media, the event is set to provide the most high profile focus yet on Islamic business achievement.

Qatar's independent Islamic investment bank, chief executive, Emad Mansour, believes, "The FIFA 2022 World Cup is a big win. The resulting investment will have a multiplier effect on several other industries and lead to increased diversification of Qatar's hydro-carbon focussed economy." These, together with the three pillars of FIFA 2022 investment initiatives: stadiums, accommodation and infrastructure, have a projected value of $3bn, $12.4bn and $44bn respectively.

With Sir Alex Ferguson having publicly backed Qatar’s World Cup bid at 2010’s Doha Aspire4Sport conference, and the innovative prospect in 2022 of carbon neutral solar energy powering air-conditioned stadiums (which can be dismantled and re-erected in other countries for the benefit of developing economies), the public relations stakes could hardly be higher.

But there remains much to do if the many disciplines operating within Shari'ah compliant commerce are to come together to achieve a cohesive and globally significant impact. For example, keynote speaker at the 2011 Sixth World Halal Forum in Malaysia, Rushdi Siddiqui, the New York based Head of Global Islamic Finance at Thomson Reuters, has argued in recent media commentary for the establishment of a pan-Islamic sovereign wealth fund (SWF).

Siddiqui says, "In today's financial markets, we talk about billions and trillions, yet in Islamic finance we do not have large banks (billion-dollar paid-up capital), and funds are small, with an average size of about US$40 million (Dh146.9m)’. Beyond the cheer-leading, the industry needs to think outside the "mosque" for developments that generate foundational growth and have a cross-selling appeal to the non-Islamic community. An Islamic SWF would not only capture the imagination, but it might also be an anchor to move this niche industry to $2 trillion by 2015."

What is clear is that Islamic finance is set to have an impact far beyond a relatively narrow pool of financial advisers, bankers, administrators and regulators, with the involvement of professional advisers of all stripes, including academics, property, legal, marketing, PR and media.

Education and training will continue to be imperative. Among professional qualifications, CIMA’s Certificate in Islamic finance is geared not only to accountants but also the many diverse professionals who now need a good working understanding of the principles and practice of Islamic Finance.

In turn, Siddiqui argues that: "The Islamic finance industry, as part of Islamic finance 2.0, needs to move away from product pushing to a more holistic approach, which includes big 'ticket' offerings while becoming 'conventionally efficient'. An Islamic SWF would fill both roles for asset management."