Islamic courses to start at University of Bedfordshire
The University says there is a demand for the course
Two new courses are set to begin at the University of Bedfordshire.
The courses will recognise the increase in demand for Islamic financial products and services.
They will guide students through the principles of Islamic finance and the theory of Islamic commercial practice which is based on Shari'a Law
According to these principles, Islamic financial products prohibit the charging of interest and investment in alcohol, pork, pornography or gambling.
The university says that students choosing these courses, The Master of Science (MSc) in Islamic Banking and Finance and the Master of Laws (LLM) in Islamic Commercial Law, will benefit from growing employment opportunities in the West representing Muslim interests and in Muslim countries.
Tariq Khan from the University of Bedfordshire told the BBC there is a demand for this type of course:
"We are based just outside London, the financial capital of the world, where there is a large demand for Islamic finance and banking products.
"Our international students, who are often from the Middle East, and who will return home to practise law, have also highlighted a need for a foundation in Islamic banking and finance laws."
Although the growth of formalised Islamic products and services is relatively new, a recent estimate puts the value of assets managed by the Islamic financial industry at US$1 trillion, a figure that is predicted to grow between 10 and 15 per cent per year.
Today, there are more than 500 financial institutions offering Islamic finance in more than 80 countries.
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