Hjh Salma Hj Abdul Latiff hopes to launch the world's first online Master's degree in Islamic Banking and Finance this year. Picture: BT/Melvin Jong
A BRUNEIAN company wants to offer the first Master in Islamic Banking and Finance online programme, to take advantage of the untapped market for Islamic finance studies in countries such as China, Japan, South Korea and Australia.
Crescent Sdn Bhd’s education product was one of the winners of iCentre’s recent ThinkBig Business Plan Competition.
“In these countries, Islamic banking is very much a new product which is about to bud. The knowledge content of Islamic finance is not easily accessible as it is not taught in the higher education levels,” said Crescent Managing Director Hjh Salma Hj Abdul Latiff.
“If a student from China wishes to obtain a Master’s degree in Islamic banking and has the necessary academic qualification, they can register as a student with the Crescent Online Global programme,” she said, adding that the student will qualify in the co-university that has adopted the programme as one of their curriculum.
“When I first planned to have this programme, I was thinking of bankers, professionals and students who are anxious to learn Islamic banking and finance, but are unable to obtain this knowledge since such knowledge is still not yet offered in higher learning institutions in their countries. Currently, only a handful of universities are offering Islamic teachings in finance,” she said.
She said the website for the Master’s degree course is in the process of construction and will hopefully be up and running soon. “We also hope to launch some of the modules by July or August this year, to test the market’s response,” she said.
Hjh Salma said the programme will consist of 10 modules, written by well-known practitioners and academicians, who have been in the field for a considerable period of time. “The module contents go through a rigorous process to ensure its high quality standard before they are downloaded into the learning management system,” she said.
However, those who are interested in certain modules only, such as Islamic Economics or Accounting for Islamic Financial Products, may take them as separate modules. “The qualifying entry is a first-degree from a recognised university. However, holders of HND (Higher National Diploma) degree may join the programme if they have already possessed at least four years relevant experience. Those who do not have any qualification but have at least 15 years working experience in relevant organisations may also qualify for this programme,” said Hjh Salma.
She added that the online learning is suitable and convenient for those working full time and do not have the opportunity to attend classroom teaching.
Hjh Salma said so far the feedback from the Brunei market has been very welcoming. “Businesses, education and public communities are anxious to see this product being launched as soon as possible,” she said.
“There is a massive potential here because this market is still untouched, although the time lag is short. This will be the first, and the product will place Brunei on the map since it will be the first country to offer such an end-to-end completely online programme in the world,” she said.
The Brunei Times
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