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ICMA Centre launches UKs first collaborative degree in Investment Banking and Islamic Finance

The ICMA Centre at the University of Reading has launched the UK's first collaborative MSc in Investment Banking and Islamic Finance, to be taught jointly with INCEIF (International Centre for Education in Islamic Finance) in Kuala Lumpur.

The degree is responding to the growing interest in Islamic finance, and also the increase in Islamic banking services, investment and other financial services based on Islamic principles.

The MSc is the first in the UK to use Islamic material taught by Islamic specialists and aims to capture the increasing demand for the subject with an academic base and practical views on issues such as Islamic finance, economics and law.

Students will benefit from having the opportunity to spend three months studying in Kuala Lumpur alongside Islamic finance professionals. The MSc will not require any previous knowledge of Islamic law or concepts but will explain the current issues within their overall Islamic economic and legal context. Graduates will also receive a thorough understanding of Western banking practices allied to the principles of Islamic finance. They will then be well qualified to join specialist Islamic financial institutions, investment managers and finance divisions of multinational companies.

In addition, participants on the course will cover the materials necessary to qualify for the Certificate Islamic Finance Professional (CIFP). This certificate aims to give participants a better insight on world views and cross-cultural perspectives for a robust Islamic finance industry.

Professor John Board, Director of the ICMA Centre said: "This partnership brings together two institutions with great reputations for education focused on the financial markets. We are delighted to launch this programme in partnership with INCEIF. We are launching this MSc at a time of great interest in Islamic finance and we expect a considerable amount of interest in this degree."

Agil Natt, President & Chief Executive Officer of INCEIF, said: "Our unique mission is to elevate and advance the practice of Islamic finance globally. We aim to do this by being the knowledge leader in Islamic finance not only from the religious aspect but also from the ethical perspective to everyone, from Kuala Lumpur to Dubai, Tokyo, London and the rest of the world, irrespective of faith and creed." For more information please visit

PHOTO: The formal signing ceremony - Agil Natt, President & CEO of INCEIF and Prof Gordon Marshall, Vice Chancellor of the University.

Published 17 June 2008

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