Bangor Banks on Investment as Interest Grows in Islamic Finance

Western Mail (Cardiff, Wales), August 13, 2009 | Go to article overview

Bangor Banks on Investment as Interest Grows in Islamic Finance


Byline: Matt Withers

WITH the worldwide banking system at its lowest ebb for 80 years, it would hardly seem the best time to be looking for a career in global finance.

But one area of banking has weathered the economic storms better than most - and one Welsh university has grasped it and entered the world of Islamic finance.

Last September Bangor University launched its Islamic finance MA and MSc and is already considering introducing an MBA in the subject, reflecting the fact that it has become one of the fastest-growing sectors of the global banking industry, expanding by between 15% and 20% a year.

Assets held by institutions adhering to Islamic finance principles now amount to nearly $1 trillion.

New courses and postgraduate qualifications in Islamic finance are now springing up throughout the UK and elsewhere in Europe.

As Philip Molyneux, head of Bangor University's business school, said, there was an increasing demand from international students, particularly from Islamic countries, to study it as an alternative to traditional banking and finance courses.

"If you look at most universities, the schools that attract most international students tend to be the business schools, and if you look at the business schools where the international students tend to study, they tend to be the international financial programmes, particularly the Masters in banking and finance," he said.

"We were one of the first to offer banking and finance, but now if you look a lot of places offer banking and finance. They are big recruiters for international students.

"This is a further extension of that. I wouldn't say any university is especially cashing in as there aren't many places doing it."

Last year, out of 120 people who did a finance-related Masters at Bangor University, 20 did Islamic banking and finance, said Prof Molyneux.

"You get a broader mix of people on the programme," he said. "The backgrounds are a bit more varied. On a traditional banking or finance Masters the majority of people have come straight off a first degree, whereas with Islamic banking we couldn't have predicted that, on our first course, only a third of the students were straight off a first degree. A lot previously worked in Islamic banking and actually know more about it than the academics because they've worked in it for seven years. They've actually got a lot of banking experience but just need an academic qualification."

The course has attracted students from countries including Saudi Arabia, Sudan and Pakistan. "We also have some which we never, ever predicted - people with a quite strong religious background. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Bangor Banks on Investment as Interest Grows in Islamic Finance
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.