New doctoral training centre in Islamic Finance

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Durham University is building on its global reputation in Islamic finance and business related research with a new doctoral training centre.

The Durham Centre for Islamic Economics and Finance opened this Autumn for training PhD students in Islamic finance and related areas.  A collaboration between the University's Durham Business School and the School of Government and International Affairs, the new centre builds on the success of Durham as a centre for research in Islamic finance for over 25 years.

The Islamic banking and finance market has grown in recent years from a rate of 10% to 15% per year.  Today, more than 500 Islamic financial institutions including international banks are operating worldwide with managed assets worth more than £650 billion.

In Malaysia, Islamic institutions are planned to capture 20% market share in terms of assets owned by the end of this year, while Islamic finance will be the mainstream finance in the Gulf region within the next two decades.

Such immense growth has brought Islamic finance to the attention of the international banking community.

Professor Rob Dixon, Dean of Durham Business School, said: "Due to such exciting and dynamic developments in the Islamic financial and banking sector, it is important that financiers and bankers who are working in the field, or who wish to enter the Islamic financial market, are aware of the principles, operations, techniques and mechanism of Islamic finance and financial products as well as the dynamics of Islamic financial and capital markets.

"Our programme on Islamic finance, expanded with the Durham Centre for Islamic Economics and Finance, aims to provide such skills and expertise by offering a diversified number of programmes to equip business people with the necessary knowledge to operate in this dynamic market."

Dr Mehmet Asutay, Director of the Durham Islamic Finance Summer School said: "The centre provides exclusive facilities for research students who have chosen to specialise in Islamic finance, which is enhancing Durham University's long-standing efforts to contribute to the development of academic and intellectual discourse and the practice of Islamic finance.

"It also supports the international reputation and recognition of Durham University in the area of Islamic finance related studies."

Durham University offers postgraduate research (PhD and MA by research) and taught (MA and MSc) degrees in Islamic banking, finance, management and economics, and the highly-regarded Durham Islamic Finance Summer School.

For more information visit www.durham.ac.uk/difp