As the first university in Scotland to offer Islamic Finance at master’s and now PhD level in Scotland, the University of Dundee in partnership with Al-Maktoum College of Higher Education celebrates its postgraduate success with the renewal of a partnership agreement.
Colleagues from the University of Dundee attended Al-Maktoum College earlier this week for an intimate signing ceremony whereby Principal & Vice-Chancellor, Professor Iain Gillespie, and Head of Al-Maktoum College, Dr Abubaker, and invited colleagues came together to formally sign the partnership agreement.
In 2019, the University’s School of Business, in collaboration with Al-Maktoum College, launched three specialised master’s degrees in Islamic finance and banking. The newly signed agreement will remain in place for a further five years and also includes PhD opportunities in Islamic Finance.
The development and delivery of these distinctive programmes in Islamic Finance have rapidly seen Dundee become a prominent destination for those interested in the subject area.
Dr Abubaker welcomed guests to the College; “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 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. We look forward to welcoming more students to study in these innovative and high-quality programmes.
Dr Abubaker adds, “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”.
Professor Gillespie said “This is an incredibly important partnership. Dundee is a very outward-facing place, a city that 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.”
Professor Morris Altman, Dean Dean of the University of Dundee School of Business adds “Our MSc Islamic Finance degrees continue to grow in popularity around the world. Together with Al-Maktoum College, we are fast becoming a key centre for Islamic Finance/Banking education in the UK.
It is incredibly satisfying to welcome students from such a broad range of countries to study with us, and I think this is a testament to the level of student experience and exceptional teaching on offer at the University, at Al-Maktoum College and across the city of Dundee.”
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.
The University of Dundee’s proficiency in traditional finance and economics, combined with Al-Maktoum College’s Islamic Finance expertise, makes for an exceptionally unique programme. Few postgraduate degrees of this kind exist in the UK currently.
Photos by Kenneth Malcolm.