Globally, the Islamic finance industry has witnessed phenomenal growth over the past decade.

As of the first quarter of the year, Bank Negara reported that Malaysia’s Islamic banking assets totalled RM527.2bil or 24.1% of the banking system’s total assets which in turn accounted for over 10% of global Islamic banking assets.

Today, Malaysia is home to 20 Islamic financial institutions, 10 of which are internationally owned.

As Islamic finance becomes an increasingly important component of the global financial system, there is a huge demand for a qualified workforce to underpin sustainable growth within the industry.

In view of this, the University of Nottingham Malaysia Campus (UNMC) has launched a new programme — Master’s in Investment and Islamic Finance.

The course will provide insights into different aspects of the Islamic financial environment and address advanced developments in both Islamic finance and conventional finance.

The programme also aims to enhance students’ understanding of techniques that are particular to Islamic and conventional finance, besides developing tools that are necessary to investigate relevant financial management issues.

A distinctive feature of the programme is the integration of the underlying theoretical foundations of Islamic finance with their practical applications.

Upon graduating, students will also be equipped with a critical awareness of ethical and corporate social responsibility issues in Islamic and conventional finance.

The varsity is also in the process of establishing a dedicated research centre on Islamic business to cater for research, training and consultancy needs.

*This article was published by The Star Online on 15 December 2013. Read the original article here.