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Sunday, 24 February 2008

Executive Diploma in Islamic Law (Islamic Banking and Finance) programme launched

THE International Islamic University (IIUM) and the Malaysian Bar Council have launched the Executive Diploma in Islamic Law (Islamic Banking and Finance) programme.
Representing the Bar Council at the launch were Steven Thiru, Hendon Mohamed and Rashid Ismail.
IIUM was represented by Prof Datuk Dr Sano Koutoub Moustapha, Assoc Prof Dr Haji Azmi Haji Harun and Prof Datuk Dr Zaleha Kamarudin.
Prof Sano, the deputy rector of IIUM, said that under the 9th Malaysian Plan, the Government had emphasised the importance of Islamic banking in Malaysia.
“The Government hopes that the Islamic banking industry will continue to expand parallel with conventional banking.
“By 2010, the Islamic banking industry is expected to constitute about 20% of the overall banking and insurance market.”
Prof Sano also said the Government intended to develop Malaysia as a global Islamic financial hub which would serve as a platform for the origination, issuance and trading of Islamic capital market and treasury instruments, for fund and wealth management, offshore Islamic financial services market as well as takaful and retafakul business.
“This will be complemented by the formation of centres of excellence for education, training, consultancy and research in Islamic banking and finance,” he added.
According to Thiru, the course would also enhance students' knowledge of Islamic commercial and legal principles, especially in banking and takaful.
The programme was the first step in the Bar Council’s plans to collaborate with universities and other bodies to offer professional development events for members, he added.
“This will enable members to broaden their scope of knowledge in different areas of the law,” said Thiru.

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