Islamic Finance Programs in Australia

Seeing the brilliant prospects of Islamic finance in Australia, some Australian universities have started to offer programs in Islamic banking and finance. So, Islamic Finance programs are becoming available almost in each country including Australia.

The La Trobe University

The university has introduced the first course in Australia dedicated to Islamic banking and finance. The university’s Master of Islamic Banking and Finance course provides students with postgraduate training required by global Islamic capital markets. The current program can also appeal to international students from both Asia and local graduates interested in stepping into the growing sector in Australia.

This newly introduced program is one of the initial actions to meet the growing demand for experts with sound academic knowledge in Islamic finance in Asia, particularly the Gulf Cooperation Countries (GCC), Indonesia, and Malaysia.
By the end of the program, students will master excellent Islamic banking, Islamic insurance, and Islamic capital markets. The International Centre of Education in Islamic Finance (INCEIF), a training subsidiary of Bank Negara Malaysia (The Malaysian Central Bank), provides certification for graduates of the La Trobe course, offering employment opportunities in the international banking and finance industry.

The Australian Monash University

This university offers Australian Postgraduate Award Industry (APAI) Scholarships worth $25 118 per annum to carry out postgraduate research in Islamic Finance during three years’ full-time study. The research works or projects related to the application of finance theory to Islamic banks, insurance markets, and fund managers are a significant development in Australia’s Islamic finance sector at academic and professional levels.

The University of Melbourne

Melbourne University has also opened different courses on Islamic banking and finance for undergraduate and postgraduate students. For instance, the University’s Postgraduate program in Islamic Banking and Finance equips students with in-depth knowledge. And the candidate will be able to demonstrate the following by the end of the course:
– Present a good understanding of the history and development of Islamic banking
– Grasp the basic principles, structure, and rules of Islamic banking
– Analyze the differences between Islamic banking and conventional banking systems
– Be able to discuss significant controversies in Islamic banking.

The Griffith University

This university currently offers Islamic Banking and Finance courses from 2009 for undergraduate students. The course aims:
To familiarize students with an overview of Islamic finance law, structure, and aspects of the Islamic banking system; To help to understand Islamic banking products and concepts; And to add a new facet to the finance study.
According to the report published in The Australian in 2006, the National Australia Bank plans to introduce Islamic financing products into its product range. So, the country expects an exponential rise and great opportunities in the Islamic Finance sector. Therefore, Australia started to offer more Islamic courses to educate experts in Islamic Finance.

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