The Chartered Insurance Institute (CII) and the Islamic Insurance Association of London (IIA) have partnered with the University of Bolton to create a master of business administration in Islamic Finance.
The course will be open to anyone who has at least two years of relevant work experience and a UK honours degree, postgraduate degree or equivalent.
The MBA will be held over two years on a part-time basis and focus on management and commerce to help insurance professionals progress in their careers within organisations that follow Islamic principles.
“[It] will ensure professionals develop a comprehensive knowledge of methodologies and concepts of Islamic Law, and the application of legal principals within Islamic business transactions,” the CII said.
Setting the standard
Max Taylor, chair of the IIA, said: “We are extremely pleased to have played our part in the creation of this MBA, which will provide a recognised qualification in an ever more important area of the global risk and insurance profession.
“The involvement of the University of Bolton and the CII ensures this course will set the standard for a qualification which we believe will be recognised and valued by employers across the industry.
“We very much hope this will be seen as an attractive opportunity for students across the world to utilise the MBA in their efforts to pursue a career within Islamic insurance and it forms a significant part of the IIA’s efforts to create the foundations for the establishment of sharia-compliant capacity within the London market.
Sian Fisher, chief executive of the CII, added: “Insurers need professionals who are well informed about the market, its challenges and opportunities if they are to succeed commercially by meeting the needs of new and diverse customers.
“This qualification combines the specialist understanding of Islamic insurance and risk management with the core University of Bolton MBA suite of modules supporting critical business and leadership skills.
“Islamic insurance is of growing importance to the global insurance profession. An MBA focusing on this area would make a relevant and positive contribution,” she said.
