The launch of an MBA in Islamic Insurance and Risk has been hailed as a major step in the efforts of London and the UK markets to drive the growth of Sharia-compliant products and capacity.
The Chartered Insurance Institute and Islamic Insurance Association of London have partnered with the University of Bolton’s Centre for Islamic Finance to launch the MBA that will be available to students across the world.
Max Taylor, Chair of the Islamic Insurance Association of London, said: “We are extremely pleased to have played our part in the creation of this MBA, which will provide a recognised qualification in an ever more important area of the global risk and insurance profession. “The Involvement of the University of Bolton and the Chartered Insurance Institute ensures this course will set the standard for a qualification which we believe will be recognised and valued by employers across the industry.
“We very much hope this will be seen as an attractive opportunity for students across the world to utilise the MBA in their efforts to pursue a career within Islamic insurance and it forms a significant part of the Islamic Insurance Association of London’s efforts to create the foundations for the establishment of sharia-compliant capacity within the London market.”
The part-time two-year graduate degree focusses on management and commerce, with the aim of helping insurance professionals progress into senior positions in organisations that follow Islamic principles.
The Centre for Islamic Finance, within the University of Bolton was established I 2012 and has become one of the world’s leading centres for the teaching of all aspects of Islamic Finance.
Sian Fisher, CEO of the Chartered Insurance Institute, said: “Insurers need professionals who are well informed about the market, its challenges and opportunities if they are to succeed commercially and progress the field.
“This qualification combines the specialist understanding of Islamic insurance and risk management with the core University of Bolton MBA suite of modules supporting critical business and leadership skills.
“Islamic insurance is a field of growing importance to the global insurance industry. An MBA focusing on this area would make a relevant and positive contribution to the field.”