University’s partnership with Al-Maktoum College strengthens

In 2019, the University’s School of Business, in collaboration with Al-Maktoum College, launched three new Master’s degrees in Islamic finance/banking. The newly signed agreement will remain in place for a further five years and also includes PhD opportunities in Islamic Finance.

Islamic finance is based upon principles deriving from and in accordance with Islamic law (Shari’ah). Fundamentally dissimilar to the conventional, or Western systems, Islamic finance concerns itself with social economic justice and human welfare.

All three programmes, Islamic Finance MSc, Islamic Banking and Finance MSc, and Islamic Banking, Finance and International Business MSc, are designed for students who have completed an undergraduate degree and look to specialise their studies within the financial sector.

The interest in these degrees continues to grow from around the world as students recognise the growing range of career opportunities in this area.

To officially renew the agreement, University Principal Professor Iain Gillespie visited Al-Maktoum College of Higher Education to attend a signing ceremony.

“This is an incredibly important partnership,” said Professor Gillespie.

“Dundee is a very outward facing place, a city which has led in global transformation. What we're looking to do in the city now is re-establish ourselves as a real-world leader. This joint initiative with Al-Maktoum is one step in helping achieve this.

“At the University our mission is to transform lives, creating the opportunity and the ability for students to come to us, work with us, teach us and learn from us. Al-Maktoum College shares that mission. I am delighted to renew this agreement.”

Dr Abubaker, Head of Al-Maktoum College, added, “We are extremely proud of the collaboration between Al-Maktoum College and the University of Dundee School of Business to deliver MSc and PhD programmes in Islamic Finance.

“The success of the programmes is a testament to the hard work and dedication from colleagues at the University as well as our own academic teams, based here at the College. We look forward to seeing these relations and the programmes further develop.

“It wouldn’t be an exaggeration to say that these postgraduate programmes are considered some of the strongest Islamic Finance programmes available, not only in the UK but also in Europe."

The agreement between the two institutions brings together the considerable strength of the University of Dundee in conventional finance and the extensive understanding of Al-Maktoum College in Islamic political economy and finance. Few degrees of this kind exist in the UK.