Undergraduate degrees in Islamic Finance,Economics,Banking and Takaful

Bachelor of level Islamic Finance, Banking, Economics and Takaful courses

There are only few number of universities are providing the undergraduate degrees in Islamic banking, finance, Takaful and economics in English medium. Following are some of the universities providing undergraduate degrees in Islamic finance and banking. This list does not include the institutions, which are conducting the courses in other languages.

Bachelor of Science in Islamic Finance – (BSc) – Universiti Islam Sultan Sharif Ali (Unissa) – Brunie

Bachelor of Islamic Finance and Banking – College of Business UUM –  Malaysia

Bachelor of Business Administration in Islamic finance – University College of Bahrain

Bachelor of Science in Finance and Banking with specialization in Islamic Finance – University of Sharjah

Bachelor of Science in Islamic Banking – St Clements University Lausanne

Bachelor of Business Administration (Hons) Islamic Banking – Universiti Teknologi MARA, Malaysia

Bachelor level Islamic Banking and Finance as subjects – The University of Melbourne Australia

Bachelor of Science (Hons) in Banking and Finance – Islamic banking as major module – MDIS Uzbekistan

Bachelor of Arts (Honours) in Business (Banking & Finance) – Islamic Banking and Finance as elective – University of Wales UK

Bachelor in Islamic Financial (Banking) (Hons) – Selangor International Islamic University College (KUIS) Malaysia

Bachelor in Islamic Financial (Capital Market) (Hons) – Selangor International Islamic University College (KUIS) Malaysia

Bachelor in Islamic Financial (Takaful) (Hons) – Selangor International Islamic University College (KUIS) Malaysia

Bachelor of Finance and Islamic Banking (Hons) – Universiti Utara Malaysia (UUM)

Islamic finance and the global financial crisis – Implications for Japan- Symposium on Islamic Finance

Last November Bank for International Cooperation (JBIC) in Nihon Keizai Shimbun, along with the Japan Securities Dealers Association, “2009 Symposium on Islamic finance: Islamic finance and the global financial crisis – Implications for Japan” held.

The revised Financial Instruments and Exchange Law in Japan last year, banks and insurance companies has become possible with the handling of Islamic financial subsidiaries, and is expected to expand business potential in the future.

In his keynote speech, from the Bahrain Central Bank Governor Rasheed Arumaraji First, “the historical role and challenges of Islamic finance,” entitled, the current situation and future development of Islamic finance, and received a lecture about the business of the Central Bank of Bahrain.

In addition, K.. C. Financial Services Financial Secretary of Hong Kong Chan, “Non-Muslim Islamic finance market,” entitled, received a lecture about the global spread of Islamic finance.

The end of the keynote, JBIC chief executive from Hiroshi Watanabe, “Islamic Finance world financial crisis” gave a lecture titled.

In situations where the current financial market is shrinking, the large role played by private financial institutions, to revitalize the financial market, it will require new financing channels, such as Islamic banking, financial and real economy Islamic finance is closely related, has increased its presence in non-Muslim country, said the expected effect of future developments.

Followed by “Islamic finance and Japan” is a panel discussion titled, JBIC has participated as a panelist Maeda Masashi International Management from the Planning Department.

Maeda is a difficulty in the interpretation of Shariah in Islamic finance qualification, such as pointing out the problem does not exist Sekandarimaketto point, development of financial products and bridge the differences in interpretation will be important for the improvement of market I may mention.

(Asian Bond Markets nitiative、ABMI))In addition, JBIC comprehensive efforts to give the thickness in the bond market in Asia (Asian Bond Markets Initiative (Asian Bond Markets Initiative, ABMI)) that I went to this Asian financial savings in Asia Efforts will be recycled and made in the market for Islamic finance, as well as the domestic market, Japan has proposed to tackle the strategic effect must have a comprehensive perspective of the whole of Asia.

In the afternoon workshop, “Islamic equity and asset management” and “practical assistance from a legal point of view and Sharia” in the session, JBIC Yoshida Shiyouetsu served as moderator of Finance Director in the Middle East and Europe Ata.

From Yoshida, “On a practical basis for Islamic investment,” entitled, and the main Islamic investment products introduced recently gave an explanation about its composition and methods.

JBIC is Islamic finance and other like we intend to continue our efforts to disseminate will get useful information to fulfill its mission of utilizing financial tools

Source : jbic

Yinchuan, China is expected to become center for Islamic finance

Regional party committee, government support for local commercial banks to provide Islamic banking business, and wishing to cause mainland China Yinchuan fight Islamic financial center.

December 24, the reporter from the Ningxia banks offer Islamic banking pilot launch ceremony was informed that the Banking Board for approval of Ningxia, Ningxia bank became the first pilot run of the Islamic banking financial institutions.

During the pilot, Ningxia banks to set up Islamic finance division, responsible for the Islamic banking business operations and management; establishment familiar with the teachings of Islam and Islamic commercial law experts, academics Ningxia Islamic bank financial advisory committee to examine the cause of Islamic financial products are developed by the Department of Shariah-compliant.

The first choice in Ningxia Wuzhong branch banking, the square sub-branches, bright sub-branches, Xinhua West Street branch and the Metro branch of the establishment of Islamic financial services window, the majority of customers of Islamic banking products and services.

The pilot will initially be launched investment accounts (deposits), financial management and increase trade in 3 products.

It is understood that the Islamic banking and conventional banking, the difference is that: first, to follow the teachings of Islam; followed by emphasis on risk-sharing, profit sharing, product revenue is designed to rental income and profits in the form of sharing rather than interest; 3 is the product and services are based on tangible assets, the transaction must have a practical purpose, better able to evade the impact of financial market volatility, and the economic bubble of false prosperity and effective boycott; 4 is to fulfill contractual obligations and the disclosure of information enshrined in the responsibilities, engage in Islamic banking financial institutions are equipped with specialized agencies of financial institutions abide by the teachings of monitor the situation.

According to British “Banker” magazine reported in 2008 registered in Islamic financial institutions worldwide had reached 614, operational control of the assets of 639.1 billion U.S. dollars.

Which is China’s Ningxia Hui neighborhood, there are 2.2 million Hui people, the country’s total Muslim population, 1 / 5. At the same time, our region has to provide Islamic banking services needed a good cultural, political, economic base. With the Islamic business and further development, our region’s economic and trade exchanges with the Middle East, Muslim countries, in-depth, will attract more money into the Middle East, the western economic development.

Source : Xplus

Proposal for Development of Islamic Finance in China

As a big oil importer, China’s long-term and Muslim countries have maintained friendly cooperative relations, efforts to attract Middle East oil dollars for investment, not only conducive to China’s economic development, and also has to protect our energy security, strategic significance.  

With regard to China’s development “Islamic finance” proposal The Central Committee of Chinese Kuomintang Revolutionary Committee “Islamic finance” is based on financial activities carried out by Islamic law. According to Islam, “Islamic finance” of transaction is that all products and services are based on asset-based, meaning that all transactions must have a real purpose, such as trade financing, or railways, Or is to buy machines are based on real asset-based, rather than purely for the purpose of making money, such as “futures” of such financial derivatives, is absolutely prohibited.”

Over the last few years, international oil prices have rocketed in the Middle East nation’s oil wealth makes the rapid accumulation, triggering strong investment demand, “Islamic finance” in the global context has developed very quickly become a global financial system, an important part. In the by the U.S. sub-prime crisis evolved over the financial turmoil, “Islamic Finance” by virtue of its own characteristics, maintaining a stable development trend.

According to estimates, the current “Islamic finance” has reached a global scale, about one trillion U.S. dollars, and the estimated annual growth in more than 15%.Currently more than 70 countries around the world there are 250 Islamic mutual funds, more than 300 “Islamic finance” institutions, it holds a 550 billion U.S. dollars in assets.

Not only to gather some Muslim countries such as Malaysia, Indonesia, Bahrain, Pakistan, Saudi Arabia, United Arab Emirates and other countries is the importance of Islamic finance, a number of non-Muslim countries and regions, such as the United Kingdom, Singapore, Japan and Hong Kong, in order to enhance and strengthen the international financial center, but also to the development of “Islamic finance” as a key work, have started to change the law and regulatory system to meet the “Islamic finance” requirement, hoping to enhance the attractiveness of the oil capital.

As a big oil importer, China’s long-term and Muslim countries have maintained friendly cooperative relations, efforts to attract Middle East oil dollars for investment, not only conducive to China’s economic development, and also has to protect our energy security, strategic significance.

However, development in the Mainland of China “Islamic finance” business is quite slow, far from the Middle East oil money to invest in China to meet the demand. Therefore, we make the following recommendations to promote “Islamic finance” in China’s development:

First, establish a “Islamic finance” industry, an effective mechanism for co-operation. “Islamic finance” features of business operations, operations conducted in-depth study and actively participate in “Islamic finance” international organizations, organized the domestic financial sector to conduct trade talks with the Islamic countries and study and promote the two sides to expand their “Islamic finance” new products and facilities cooperation.

Second, try to carry out the “Islamic finance” business. China’s Muslim population, mostly concentrated in the western region, with the implementation of the western development strategy, you can take the following measures.

First, consider the western region or the establishment of “Islamic finance” institutions; the second is to allow the Western financial institutions, launched the “Islamic finance” products, in particular, Wealth management tools (such as the Islamic investment funds), to attract capital investment in the Middle East in western building; three western companies to issue abroad “Islamic bonds” or arrange Murabahah trade financing by banks and so on, are also feasible and convenient way; 4 is to encourage financial institutions to the west in the Middle East countries have set up Islamic financial windows.

Third, give full play to the Shenzhen Special Economic Zone “experimental field” role, the first to strengthen ties with “Islamic finance” institutions. Shenzhen borders Hong Kong an international financial center, in the financial personnel exchanges, and international capital and financial markets to cultivate docking with other cities on the irreplaceable advantages, is the country’s fund management center.

And Shenzhen, has a local legislative powers, you can improve the local legislation in support of “Islamic finance” development is conducive to take the lead in the introduction of “Islamic finance” institutions, to promote Shariah-compliant financial products to meet the domestic enterprises and the Middle East investors.

At present, the constraint “Islamic finance” the development of the bottleneck is the training of professionals not keep up with increased demand for speed. Develop”Islamic finance” experts, at least 10 to 20 years.

This is a comprehensive Islamic knowledge, the East-West financial theory with the new knowledge, financial ﹑ rule of law and religion in one of modern economy, and must focus on the practical ability to work. Thus, the domestic colleges and universities should be established as soon as possible “Islamic finance” professional, the United Nations financial institutions, there are plans to train professionals.

Source : Netease financial