KUIS to Establish Islamic Banking Training and Research Centre in January 2014


BANGI, 24 Oct: The Selangor International University College (KUIS) will sign a memorandum of understanding (MOU) with the Jeddah Islamic Development Bank (IDB) to establish an Islamic banking training and research centre, latest by 2014.

The proposed establishment is aimed at expanding knowledge on Islamic banking systems which is currently growing in the market.

The Reactor of KUIS, Assoc Prof Datuk Dr Ab Halim Tamuri said the programme will be handled by the Muamalat (Arabic for financial transaction) Faculty in addition to cooperation from other Public Institutes of Higher Learning (IPTA).

“The Board of Directors agree for us to have the MOU with the Islamic Development Bank (IDB) in Jeddah. Upon agreement, we will set up an Islamic banking training and research centre.

“The establishment will be led by the Dean of the Muamalat Faculty and the first meeting will be held in the near future, where the agreement will be signed, latest by 2014 January,” he said in a press conference yesterday.

He said that focus in training will be given to officers who do not have a background in Islamic banking but are working in the sector, as well as for non-Muslims.

“The proposal is seen as being able to expand internationally, seeing that Islamic banking currently controls 20 percent of the market. The study module will be done in the form of a bachelor’s degree and training certification, however the matter is still in the pipeline,” he said.

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