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15.5.09

Islamic Finance Education at Graduate Level

One of our very first posts consisted of a survey of Islamic finance training programs and certifcations, and this in turn triggered a great deal of interest and a sustained number of inquiries on industry education (or lack thereof). Issues uncovered range from lack of local availability, costs, balancing practical-theoretical aspects, as well as whether there is global recognition for some of them. This particular article goes further in discussing the educational/curriculum approach (and being published only last year reveals there are plenty of areas that need to be strenghtened). Whilst the focus is mostly on Malaysian academic institutions and on some policy concerns, we would argue this is useful reading to anyone seriously looking to undertake an Islamic finance degree anywhere in the world.

Islamic Finance Education at Graduate Level: Current Position and Challenges
Zubair Hasan
Internarional Islamic University Malaysia (IIUM)
Some excerpts: "Programs for education in Islamic finance were hurriedly drawn up to meet the expanding demand. The haste resulted in unsuitable curricula frames and course designs; much of the research tended to be confirmative. The dearth of competent teachers worsened the situation further; compromises on the quality of instructions had to be made. Theory and practice exhibited increasing divergence."

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