New Delhi :In yet another novel initiative, Ma’din Academy will offer taught bachelors and masters program in Islamic Banking and Finance. The curriculum and course structure of the program, designed in collaboration with the prestigious International Islamic University Malaysia (IIUM) will commence from September 2016.
With a business turnover value over 2 trillion dollars and recognition in more than 75 countries, Islamic banking as an academic study looks promising and opens up plethora of potential opportunities. However, there is a dearth of faculty to deliver quality teaching in this field at the moment. Through this initiative, Ma’din academy looks to negate this shortcoming and to assist economic growth of India by introducing Islamic Banking to the Indian financial system.
Islamic Banking is growing at a faster pace than conventional banking industry with an annual growth rate of over 17% registered each year. Thus, Islamic banking assumes alarming importance in the Indian economy with an optimistically promising outlook of financial possibilities in the Indian financial market.
For a start, about 200 students in Ma’din Academy will be taking the Master of Science in Islamic Banking and Finance programme, on a full-time or part-time basis.Fifteen lecturers from IIUM’s Institute of Islamic Banking and Finance would initially be involved in conducting the programme at Ma’din Academy.
Upon successful completion of this program, a prospective student will be exposed to wide ranging placement opportunities in the Islamic Banking sector, which is well established in the Gulf and ASEAN countries.
International Islamic University of Malaysia (IIUM) Rector, Dr. Zaleha Kamaruddin and Ma’din Academy Director General , Dr. K.K.N Kurupp signed an MOU to commence Islamic Banking courses in India and in Gulf Countries under the educational institutions of Ma’din Academy sprawling across various countries. In the event held at Kuala Lampur, IIUM university president and socio- cultural Advisor to Malaysian government Tan Sri Dr. Rais Yatim, and Ma’din Chairman Sayyid Ibraheemul Khaleel Al Bukhri were present.
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