Tuesday, June 17, 2008

Inceif launches Masters in Islamic Finance

By Habhajan Singh
The International Centre for Education in Islamic Finance (Inceif) recently launched its Masters in Islamic Finance, marking another major milestone following the launch of its PhD in Islamic Finance last year.

Inceif, established with an endowment from Bank Negara Malaysia (BNM), had also recently forged a collaboration with the United Kingdom's University of Reading for an Islamic finance course.

Inceif already holds the distinction of being the only global university dedicated to Islamic finance, offering its flagship programme, the Chartered Islamic Finance Professional (CIFP) and PhD in Islamic Finance.Inceif is offering two masters programmes, the Masters in Islamic Finance by Research and the Masters in Islamic Finance by Coursework and Dissertation.

The Masters in Islamic Finance by Research is aimed at candidates with experience in the financial services industry, whose pursuit of the degree will lead to the creation of new products, development of new structures and resolution of outstanding problems.

The Masters in Islamic Finance by Coursework and Dissertation, on the other hand, is designed to produce graduates with in-depth exposure to various components of coursework in Islamic finance, before they are allowed to conduct their research.

The research output is intended to expand the horizon for new products or services in the Islamic financial services industry.In a statement, Inceif said the programme is supported by faculty members including Inceif's Prof Dr Hamzah Ismail (Head of Graduate Studies), Prof Datuk Dr Syed Othman Alhabshi (Head of Takaful Department), Prof Dr Saiful Azhar Rosly (Head of Islamic Banking Department), Prof Dr Murat Cizakca (Professor of Comparative Economic History), Prof Dr Syed Abdul Hamid AlJunid (Head of Islamic Financial Market Department) and Prof Dr Zainal Azam Abdul Rahman (Head of Shariah Department).

On May 5, Inceif had a preview of the programme, handled by Prof Hamzah Ismail who heads its Department of Graduate Studies.

The launch on June 12, was officiated by Higher Education Minister Datuk Seri Mohamed Khaled Nordin. Also present was BNM governor Tan Sri Dr Zeti Akhtar Aziz and Inceif governing council chairman Dr Rozali Mohamed.In August this year, the University of Reading will launch its Master of Science (MSc) in Investment Banking and Islamic Finance, where part of the courses would be from Inceif's CIFP Part I.

Students will also be expected to spend one term at the Inceif campus in Kuala Lumpur.Students who complete the Inceif component courses successfully can apply for exemptions from the CIFP Part 1 modules in addition to the Masters degree awarded by the University of Reading.

This is a first for Inceif and Reading and indeed, in the world, as students will be taught by faculties from the two universities.

(The Malaysian Reserve, June 16, 2008)

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