ID :
25280
Sat, 10/18/2008 - 15:15
Auther :
Shortlink :
http://m.oananews.org//node/25280
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BNM TO HELP LA TROBE CONDUCT MASTER'S COURSE IN ISLAMIC BANKING & FINANCE
MELBOURNE, Oct 18 (Bernama) -- La Trobe University here will introduce a master's course in Islamic banking and finance next year with the help of Bank Negara Malaysia (BNM, Malaysia's Central Bank).
It will provide students with post-graduate training in technical skills
required by the global Islamic capital markets and institutions.
Industry-based certification will be provided by the International Centre
of
Education in Islamic Finance, a training subsidary of BNM.
The course will help students develop expertise in Islamic banking,
insurance and capital markets.
On graduation, the student will be granted full exemptions from the
Chartered Islamic Finance Professional (CIFP) Part One requirement for
international professional recognition.
BNM established CIFP to address the shortage of qualified people in the
Islamic banking and finance sector.
Associate Prof Dr Ishaq Bhatti of La Trobe's Department of Economics and
Finance, said the course, the first in Australia dedicated to Islamic banking
and finance, would appeal to students from South-East Asia, the Middle East,
India, Pakistan and African countries.
"We also expect Australian graduates keen to enter the growing sector in
Australia," he said.
Local banks -- the National Australia Bank, Kuwait Finance House, HSBC and
the Muslim Community Cooperative Australia -- have offered support for the La
Trobe course.
"The Islamic banking and finance market has experienced substantial and
unexpected growth in recent years, growing at a rate of 10 to 15 percent a
year.
"Today, more than 260 Islamic financial institutions are operating
worldwide, which are claimed to manage assets worth no less than A$500 billion
(A$1=RM2.37), while the assets held by Islamic financial institutions were only
A$8.5 billion in 1985," he told La Trobe University Bulletin.
In his recently-published book, 'Developments in Islamic Banking', Dr
Bhatti calls Islamic banking a "paradigm of fairness and equity" contrasting it
with conventional economics which has little interest in promoting benevolent
behaviour in the market.
To be accepted into the La Trobe Master of Islamic Finance programme, a
student must hold a creditable bachelor's degree and foreign students must be
proficient in English.
-- BERNAMA
It will provide students with post-graduate training in technical skills
required by the global Islamic capital markets and institutions.
Industry-based certification will be provided by the International Centre
of
Education in Islamic Finance, a training subsidary of BNM.
The course will help students develop expertise in Islamic banking,
insurance and capital markets.
On graduation, the student will be granted full exemptions from the
Chartered Islamic Finance Professional (CIFP) Part One requirement for
international professional recognition.
BNM established CIFP to address the shortage of qualified people in the
Islamic banking and finance sector.
Associate Prof Dr Ishaq Bhatti of La Trobe's Department of Economics and
Finance, said the course, the first in Australia dedicated to Islamic banking
and finance, would appeal to students from South-East Asia, the Middle East,
India, Pakistan and African countries.
"We also expect Australian graduates keen to enter the growing sector in
Australia," he said.
Local banks -- the National Australia Bank, Kuwait Finance House, HSBC and
the Muslim Community Cooperative Australia -- have offered support for the La
Trobe course.
"The Islamic banking and finance market has experienced substantial and
unexpected growth in recent years, growing at a rate of 10 to 15 percent a
year.
"Today, more than 260 Islamic financial institutions are operating
worldwide, which are claimed to manage assets worth no less than A$500 billion
(A$1=RM2.37), while the assets held by Islamic financial institutions were only
A$8.5 billion in 1985," he told La Trobe University Bulletin.
In his recently-published book, 'Developments in Islamic Banking', Dr
Bhatti calls Islamic banking a "paradigm of fairness and equity" contrasting it
with conventional economics which has little interest in promoting benevolent
behaviour in the market.
To be accepted into the La Trobe Master of Islamic Finance programme, a
student must hold a creditable bachelor's degree and foreign students must be
proficient in English.
-- BERNAMA
