Why the World Needs Small Business Accountants
12 Aug 21
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03/05/2021
A second Sukuk bolsters the UK’s position for becoming a world leader in Islamic finance, making this the perfect time to study in this specialism.
A Master of Business Administration (MBA) is one of the most prestigious awards you can achieve, leading to more job opportunities and increased awareness of the global market. For those with an undergraduate business degree, this is the time upskill with a focus on Islamic finance.
On the 25th March 2021, the UK launched its second sovereign, which will boost the country’s reputation as an open international financial centre. This Islamic certificate (equivalent to a Western bond) is more than double the size of the first issuance, which will open many doors and result in job creation.
How does the Sukuk impact UK finance?
The second issuance helps to increase the supply of high-quality Sharia-compliant liquid assets to the market. It also backs the development of Islamic finance products in the UK. With strong demand from the Middle East and Asia, the Sukuk means better international connections and transforming UK cities such as London into major hubs.
Chancellor of the Exchequer Rishi Sunak said: "Strong investor demand for this Sukuk meant we achieved a good price for the taxpayer and will help us develop our relationships with Islamic economies around the world."
The first Sukuk offering was back in 2014, which then made us the first country outside of the Middle East to become a centre for Islamic finance. With the second being twice as high at £500 million, there’s great promise for growth in the coming years, including more jobs.
And the fact that the UK government’s announcement comes at a time of a struggling economic climate during Covid shows the level of commitment to investments.
What does it mean for finance careers?
There’s never been a more important time to upskill in this specialist area of finance. Even without the £500 million issuance, Islamic finance was already an area that was growing at an incredible rate, estimated to be worth trillions.
Islamic financial practices are no longer just relevant to Muslim-majority countries, as the Islamic banking system is becoming widely used all over the world. It’s a model that is fast becoming a popular alternative to western banks, which means Sharia-compliant experts will be in demand in the years to come.
The job roles aren’t just limited to banking and financial management either. The UK’s investment in Sharia finance will lead to job growth in a diverse range of areas. These include:
- Finance consultants
- Finance solicitors
- Internal auditors
- Lending officers
- Recruitment and HR
- Regulatory specialists
- Risk specialists
- IT & FinTech specialist
…and much more!
Study your MBA in Islamic Finance
If you want to take your career to the next level, an MBA degree can help you advance your skills and knowledge. The University of Bolton’s Islamic Finance MBA starts focuses on good practice in management and commerce from the Sharia perspective.
For anyone looking to progress into senior positions in organisations operating according to Islamic principles, this program provides a platform to help you take the next step.
Our MBA program also hones other important skills, such as your communication skills, your cultural awareness, time management skills, and leadership skills. Furthermore, you’ll get to expand your professional network within our vibrant postgraduate community.
Because we rank No.1 for Teaching Quality and Student Experience in Business Courses*, the University of Bolton is the best place to begin your Postgraduate journey.
To find out more, visit our course page for details.
If you have further questions, please don’t hesitate to get in touch on +44 (0)1204 903 394 or admissions@bolton.ac.uk.
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University of Bolton, Deane Road, Bolton. BL3 5AB
Part of the University of Bolton Group