The Islamic banking and finance (IBF) sector has experienced substantial and unprecedented growth in recent years: growing at a rate of 10-15% per year. Today, more than 500 IBF institutions are operating worldwide, which are claimed to manage assets worth no less than $1.2 trillion, while the assets held in IBF institutions were only less than $10 billion in 1985. In Malaysia the IBF institutions are planned to capture the 25% of the market share, in terms of assets owned, by 2012, while it is expected that Islamic finance will be the mainstream finance in the Gulf region in the next decade.
Such immense growth has brought Islamic finance to the attention of the international banking and finance community, prompting the major banks to set up Islamic financial windows to take advantage of demand for Shari’ah compliant finance.
As a result of these exciting developments, financiers and bankers working in the field or those who wish to enter the Islamic financial market need to be aware of and trained in the principles, operations, techniques and mechanism of Islamic finance and financial products as well as the dynamics of Islamic financial and capital markets.
Durham Islamic Finance Summer School aims to provide such knowledge, skills and expertise, and help place participants in an advantageous position for entering and working in the Islamic financial sector. The programme is delivered mostly by leading financiers and bankers from across the world as well as the Centre’s academics.