A wise thing to do: Islam is the answer to debt, interest isn’t.

hifzan shafiee

Top business schools in the West are incorporating elements of Islamic finance onto their MBA programs in order to educate their students about global economies.

Encouraged by the recent economic downturn, business schools and their students are considering the option of specializing in Islamic finance in order to diversify their skills, thus appealing to a rapidly growing international financial market.

“The Islamic finance industry has been growing at a rapid rate over the past two decades, with assets in that sector now in excess of US$1 trillion,” explains Walid Hejazi, associate professor of international business at Rotman School of Management at the University of Toronto, Canada. “Although these assets are concentrated in the Middle East and Asia, there is an increasing participation by US, European and Australian businesses in the sector, with Canada lagging significantly.”

Islamic finance in international corporations

In fact, with major financial corporations based in…

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