Career in Finance Small Firm vs. Big Four
06 May 21
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Professor George E Holmes DL | President & Vice Chancellor
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Ellisse Vernon | BSc (Hons) Adult Nursing
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Categories: Accountancy, Postgraduate
Are you looking to study a Master of Business Administration (MBA) course? Here’s why you should consider specialising in Islamic Finance…
The University of Bolton’s Master of Business Administration (MBA) in Islamic Finance programme is a fantastic stepping stone for finance professionals looking to expand their skills.
Tapping into one of the fastest growing financial sectors in the world (one that is estimated to be worth over US$1.5 trillion!), this course can open up a range of new opportunities for ambitious individuals.
Here are some of the reasons why career in Islamic finance could be for you:
For finance professionals looking to grow their knowledge of global practices, this is one of the most exciting areas to explore.
Our programme helps you understand all the principles of Sharia banking and finance, including Islamic law and its impact on monetary activities. The most notable difference between Sharing compliant finance and standard finance is the prohibited act of usury, which is the acceptance of interest and fees in exchange for loans and other money-lending products.
It is also unlawful to invest in businesses that provide certain goods and services, as this can be considered to be “haram” or a sin when committed by a Muslim. These businesses include any that sell, buy or manufacture anything related to alcohol, pork, gambling or pornography.
This makes it hugely different to how things are run in other parts of the world, meaning specialist knowledge is required for anyone wishing to work abroad in Muslim countries.
There are many different MBA courses available for professionals wanting to take the next step in their career. But with an Islamic finance specialism under your belt, you can increase your opportunities for work-based travel, as well as overseas relocation.
If you dream of travelling the world or starting a new life in the Middle East, a master’s in Sharia banking and finance could be the right move for you.
Countries under Islamic Law include Afghanistan, Bahrain, Bangladesh, Chad (only for terrorism), Egypt, Guinea, Indonesia, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Malaysia, Nigeria, Oman, Pakistan, Saudi Arabia, Somalia, Syria, Sudan, United Arab Emirates, and Yemen.
Ten of the world’s 25 rapid-growth countries are Muslim. Opportunities for more growth are there, but few are able take advantage due to not having the right skills and knowledge of working under Sharia law.
If you are looking for a career change, there has never been a better time to return to your studies. Doing a master’s is a great way of boosting your earning potential, especially in an area that is up and coming.
The cornerstone of Sharia compliant finance is risk-sharing and joint venture. This is used to achieve interest-free transactions, and includes tactics such as buying a property outright and selling it back to the buyer with a payment schedule.
Islamic finance can be significantly more complicated than western finance, and learning skills in this field can help to create financial stability between countries.
Not only are you increasing your chances of career growth and higher earnings, but your work will be assisting in financial inclusion across the globe, while also accelerating economic development.
At the University of Bolton we offer some of the best MBA programmes, and are No.1 in the UK for Teaching Quality and Student Experience for Accountancy & Finance Courses.*
We’ve also been voted No.1 for Student Satisfaction** for three years running, making us one of the leading universities for postgraduates looking for a friendly and supportive environment.
Find out more about our Islamic Finance MBA course now.
* The Times and Sunday Times Good University Guide 2021
** Complete University Guide in 2021, 2020 and 2019, North West region
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