The phenomenal growth of the Islamic banking and financial industry all over the world has grabbed the attention of everyone. It has also created a huge demand for skilled human resources to serve this industry. The latest data predicts the existence of a big gap between the requirement of skilled workforce and available staff.
The Department of Islamic Banking and Finance at KIC aims to produce such competent graduates who are able to play a significant role in the development and growth of the industry, in particular, UAE based Islamic financial institutions. The overall educational aim is to provide an integrated, coherent, and practically based education in the theory, methods, tools and techniques of Islamic economics & finance, Islamic banking & Insurance (Takaful), Islamic accounting and Islamic capital market. It also provides the knowledge of various Islamic financial contracts and their practical application in today’s modern economic system.
The department hosts two programs; Associate Degree in Islamic Banking & Finance and Bachelors Degree in Islamic Banking & Finance. Both of these programs aim at developing an understanding of the underlying concepts, foundations and theory of Islamic Banking and Financial System. They also aim to provide the opportunity for students to consolidate the knowledge and skills they have acquired and enable them to work in real situations by undertaking an internship or work-based project.
After the completion of the programs at KIC, Graduates of Islamic Banking & Finance will be:
Recruited at the level of Middle Management in Islamic Financial Industry that include:
- Islamic Banks / Commercial Banks with Islamic Banking Subsidiaries or Islamic Banking Windows (There are 8 full-fledged Islamic Banks & almost ALL commercial/conventional banks are offering Islamic Banking (services) Subsidiaries / Windows in the UAE).
- Islamic Investment & Financial Companies
- Islamic Insurance Companies (Takaful Companies)
- Islamic Foreign exchange & Stock Exchange Market (Sukuk)
- Islamic Market Indexes
- Students are also prepared to run their personal businesses in compliance with Shariah Law.