The Chartered Insurance Institute (CII) has partnered with Bolton University to launch an MBA in Islamic Finance.
The partnership, in conjunction with the Islamic Insurance Association of London, will help advisers have a better understanding of clients who practice Islamic principles.
The part-time two-year course focuses on management and commerce and will help people gain a better understanding of Islamic law and Islamic business transactions. The course is open to anyone with a finance-related degree and will be taught online due to the Coronavirus pandemic.
CII education partnerships manager Vivine Cameron explained Islamic Finance is based on the principle of Takaful, which she said is based around mutuality and differs from general financial practices. Within Takaful, members contribute money into a pool system to guarantee each other against loss or damage.
Cameron said the course was created to “demonstrate that there are options in this profession, for people of a particular faith who have particular requirements that general financial services is not providing.”
“Its really important for the financial market to understand this aspect of finance which is quite specialist. If you’re working for an organisation that’s looking to have a particular team that specalises in this area, then [the course] will develop their knowledge and complement their expertise,” Cameron added.
‘Stand out from the crowd’
CII corporate developments director Steve Jenkins said: “People are much keener now on what their profession will do for people and society. Over the last year or so, we’ve been reaching out to schools but also to universities about the prospect of partnering with them such that graduates can come out of higher education with both an academic qualification and at least, a part-prepared professional qualification.”
He said the course will give firms an opportunity to “hit the ground running with recruitment”, but from a candidate’s perspective, it gives them the opportunity “to stand out from the crowd”.
Source: Professional Adviser