Filling a Niche for Islamic Banking

Islamic finance activity has been growing 14 percent per year, with Islamic finance assets exceeding $1.1 trillion in cumulative value in 2011.Such growth has pushed more educational institutions into creating degree programs in Islamic finance. In 2005, the International Islamic University Malaysia created an Islamic banking institute that offers students Master of Science and doctoral degrees in the subject, among other universities. The classes are aimed at both familiarizing students with the history of Islamic banking products, and encouraging them to think about developing more contemporary services.