Islamic Finance Hot New Topic at Asian Schools
With the Islamic finance industry worth an estimated $1 trillion and growing rapidly, it is no surprise that several Asia-Pacific nations are among a growing band of countries worldwide to signal their intention to carve out a larger share of the market. Malaysia, Indonesia and Singapore, along with Hong Kong, have set their sights on becoming hubs for Islamic finance, where investments are made according to Islamic principles. (Under Shariah, or Islamic law, charging interest and making investments in industries such as gambling and alcohol are forbidden.) While their sectors may be at varying stages of development, they are facing a common predicament: a shortage of professionals skilled in Islamic finance. Education institutions around the Asia-Pacific region, like their counterparts in the Middle East and Europe, are seeking to fill that gap by adding Islamic finance specialization to their master’s programs in business administration and elsewhere. The number of such courses available in those countries to the most developed Islamic finance sector in the region, is growing rapidly. (more…)
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