Bangor makes wise investment as interest grows in Islamic finance

WalesOnline :WITH the worldwide banking system at its lowest ebb for 80 years, it would hardly seem the best time to be looking for a career in global finance.

But one area of banking has weathered the economic storms better than most – and one Welsh university has grasped it and entered the world of Islamic finance.

Last September Bangor University launched its Islamic finance MA and MSc and is already considering introducing an MBA in the subject, reflecting the fact that it has become one of the fastest-growing sectors of the global banking industry, expanding by between 15% and 20% a year.

Assets held by institutions adhering to Islamic finance principles now amount to nearly $1 trillion.

New courses and postgraduate qualifications in Islamic finance are now springing up throughout the UK and elsewhere in Europe.

As Philip Molyneux, head of Bangor University’s business school, said, there was an increasing demand from international students, particularly from Islamic countries, to study it as an alternative to traditional banking and finance courses...Read More