Following the recent collapse of some traditional western banking systems and institutions, many of the world’s governments are seeking alternative financial models. Due to the increasing need for Muslims, representing one-fifth of the world’s population, to find Islamically accepted financial products, Shariah-compliant banking is fast becoming a popular phenomenon. To reflect this change, the Glamorgan Business School has introduced an MSc in Islamic Banking and Finance for the first time this year. Many countries, including the UK, are changing legislation to embrace this radically different model of finance and banking.
Dr Atsede Woldie of the Glamorgan Business School said: “The economies of the Muslim world are growing rapidly and in particular the oil-rich states of the Arab Middle East. The surge of Islamic hedge funds, the booming trade in sukuk (Islamic bonds), retail and corporate lines of Islamic credit and derivatives as well as mortgages, auto financing, consumer finance, along with Islamic credit/charge/debit cards across the world have revealed a lack of experts trained in Islamic financial products and systems. This course will provide students with the knowledge and experience needed to fully prepare them for a job in Islamic finance.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.