Overview

The International Open University (IOU) presents its certificate program in Islamic banking and economics. This program opens the door to a possible career in an exciting, expanding, and beneficial field, and is a stepping stone to further studies.

“Allah has permitted trade and has forbidden interest.” (Surah al-Baqarah (2):275)

In today’s world flooded with interest-based transactions, unlawful bank contracts, and investments the need for Islamic banking is increasing. Many countries have recently seen a rise in demand for Islamic banking services. Analysts expect that at the current rate of expansion in the next 8 to 10 years, the Islamic banking network in the UAE will overtake the conventional banking system.

“S&P believes the potential market for Islamic financial services to be closer to $4 trillion.” (Standard & Poor’s Ratings Services)

Job opportunities within the Islamic banking field are also on the rise. While the Middle East still offers growth opportunities there is big potential for growth in countries such as Indonesia, Bangladesh, India, and countries from North Africa and Central Asia which have a substantial Muslim population.

Courses in Islamic finance and economics offer a wealth of learning experience to IOU students and by the will of Allah, they will unlock the door to new and exciting careers in Islamic banking and economics.