The American University, a private university in Washington, started to offer an Islamic Finance course for both graduate and undergraduate students in 2015. Kogod School of Business has become the first to gain a competitive edge over other schools establishing Islamic Finance courses for its students at American University. Islamic Finance in the Global Economic course introduces Sukuk and takaful market, accounting for Islamic banks, Islamic banking and investment practices, and Islamic Finance Principles.
Unlike many Islamic courses, this course delivers its contents through a global business perspective, not through an Islamic studies lens. Therefore, upon the completion of the course, the students will be able to:
- Understand Islamic Finance relevant concepts and analyze Islamic banking and finance situation in the international economy.
- Demonstrate an understanding of various topics related to Islamic Finance, such as Islamic capital markets, risk management, and liquidity.
- Comprehend the structure and function of Islamic business and banking institutions.
- Develop an Islamic Finance business plan.
- Introduce such instruments into the Western financial industry.
Who started to teach the course?
Ghiyath Nakshbendi, American University International Business Professor, developed the current course and teaches it. He believes that Kogod’s Graduate Certificate in Islamic Finance is a part of his vision of advancing Islamic Finance. This program targets individuals who want to enter the field of Islamic Finance. Students need to complete the following two required courses to obtain the certificate:
Moreover, the class includes optional courses like Financial Accounting and International Finance, Economics classes such as Economics of the World Regions and several other courses.
Nakshbendi organizes valuable events for students. He brings many guest speakers to the classes, becoming a regular part of the curriculum. The speakers share their experiences and offer students real-life examples from the Islamic Finance sector. Students usually welcome stellar speakers from Kuwait, Malaysia, Bahrain, and other countries. Certainly, integrating speakers into the curriculum creates excellent opportunities for networking for students. These developed professional relationships and networks can help students to find suitable job positions.
The Islamic Finance industry is overgrowing, and simultaneously, the demand for Islamic Finance experts is increasing. So, the Kogod School of Business wants to contribute by being responsive to market needs and delivering young professional experts on Islamic Finance.
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