UoL/INCEIF Islamic Finance Executive Programme

University of Luxembourg (UoL) has partnered with INCEIF to conduct the second Islamic finance executive programme in Luxemburg for industry players based in Luxembourg as well for the university’s MBA students. This follows the success of a similar workshop in 2011, first held in Luxembourg soon after INCEIF and UoL signed as collaborative partners to offer training and postgraduate studies on Islamic finance.

 


Prof Saiful with participants at the 3-day workshop.

The programme, conducted by INCEIF Head of Executive & Consultancy Programme Prof Dr Saiful Azhar Rosly was attended by 30 participants including from Banque Centrale Du Luxembourg, private banks which specialise offering services to high net worth individuals and law firms.  During the 3-day programme, Prof Saiful covered topics on Shariah, ethics and Islamic economics and banking.

Most of the participants were new to Islamic finance. One of Europe’s largest onshore private banking group KBL, which was bought over by Qatari investors last year, sent 5 participants to the workshop. This goes to show the increasing interest for training and short courses on Islamic finance among industry practitioners in Luxembourg, one of the world’s leading financial hubs.

A good number of the industry participants were from the legal fraternity. They were keen to explore the legal dimension of Islamic finance, especially the legal documentation aspect. They strongly felt that this aspect of Islamic finance should be incorporated in future courses and training, especially those concerning Sukuk. None of those attending the workshop had any experience in Islamic finance documentation.

A number of the participants wanted to find out more about capital raising. A participant from a Brazilian bank based in Luxembourg would be going to the GCC to raise funds for the halal industry in Brazil.

After the workshop, Prof Saiful had a meeting with UoL’s Dean of the Luxemborg School of Finance Prof Christian Wolf. There is plan to bring his students on a study visit to INCEIF in the near future.

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