4 days ago
- Business
- New Straits Times
SC, Durham University forge partnership to advance Islamic finance education
KUALA LUMPUR: The Securities Commission (SC) has signed a memorandum of understanding (MoU) with Durham University to strengthen collaboration in Islamic finance education, research and innovation.
The MoU includes the newly launched Islamic Capital Market (ICM) Summer School initiative, which the Durham University Centre for Islamic Economics and Finance organises in collaboration with its Business School.
The initiative aims to equip professionals with strategic leadership skills and a deeper understanding of Maqasid al-Shariah in Islamic capital markets.
SC chairman Datuk Mohammad Faiz Azmi said the initiative is a milestone in nurturing future leaders of Islamic finance.
"This is driven by a shared commitment to advance capacity and thought leadership in the industry, from practitioners to seasoned scholars," he said in a statement.
"By embedding Maqasid al-Shariah principles, we aim to build an ethical, sustainable and innovative capital market."
He said the programme aligns with the values outlined in the Maqasid al-Shariah Islamic Capital Market Guidance introduced by the SC in 2023.
Durham University vice-chancellor and warden professor Karen O'Brien said the university has a long-standing contribution to Islamic finance research and education.
"Durham has a history of over 30 years in Islamic finance research and has trained over 1,500 individuals through our summer school since 2006.
"This new partnership will continue to train and inspire current and future leaders, upholding a tradition of thought, practice and leadership," she said.
Running from 2025 to 2027, the ICM Summer School will offer one cohort annually, starting in the third quarter of 2025. Each cohort will include 15 participants in a month-long hybrid programme.
The curriculum will cover key areas, including sukuk, Islamic equities, Shariah-compliant products, fintech, sustainability, regulatory frameworks, and product innovation.
A core emphasis will be placed on the application of Maqasid al-Shariah principles to foster a more inclusive and resilient Islamic capital market.
Targeted at mid- to senior-level professionals with at least five years of experience in the Islamic finance industry, the programme combines online modules and a five-day in-person masterclass at Durham University.
Graduates will receive joint certification from the SC and Durham University.
