The School of Management (LSM) of the Catholic University of Louvain in Belgium is to launch the first university diploma in Islamic Finance.
The courses which will run in association with the Brussels-based organisation called Islamic Markets Advisors, ISFIN, will start in April in Belgium and Luxembourg.
The LSM and the ISFIN, in a joint press release, said Islamic finance has become an important part of the international financial system and is one of its fastest growing components.
Islamic investments and the liquidities available in the Gulf and Asia are boosting this industry. This segment is growing 50% faster than the entire banking industry in several core-banking markets. Islamic banking assets have exceeded USD 2 trillion.
As the 3rd place in the world for Islamic finance development, Luxembourgآ’s position requires a high level executive training in the sector.
At the heart of Europe, Belgium hosts the most esteemed international companies and institutional head offices. In the last decade, Belgian authorities and institutions activities and interests towards the Gulf, the Mediterranean and Muslim markets have grown.
Luxembourg and Belgium are profiling themselves to become recognized actors in Islamic finance, funds and the Islamic economy.
Professor and LSM Dean, Michel De Wolf, said "the LSM offers world-class courses and highly specialized options based on advanced research. LSM is the business school of the UCL, one of the oldest universities in Europe, providing opportunities for interdisciplinary and multicultural experiences." Professor Laurent Marliere, head of ISFIN said "from a nascent niche, Islamic Finance has become a worldwide phenomenon and a solid pillar of the financial industry. It is growing 50% faster than the entire banking industry in several core-banking markets".
"This innovative and brand new area is lacking competent human talents. This university diploma targets bankers, fund managers, lawyers, accountants, auditors," he added.