The Islamic banking and finance (IBF) industry has demonstrated substantial growth since the beginning of the century with the expanding product offerings and the emergence of markets such as the Sukuk market. Today, more than 500 IBF institutions are operating worldwide, which are claimed to manage assets worth no less than US$2.5 trillion, while the assets held in IBF institutions were only less than $10 billion in 1985. In Malaysia, IBF institutions have already captured the 27% of the market share, in terms of assets owned, while it is expected that Islamic finance will be the mainstream finance in the Gulf region in the coming years.

Such immense growth has brought Islamic finance to the attention of the international banking and finance community, prompting the major banks to set up Islamic financial windows to take advantage of the demand for Shari’ah-compliant finance. While Islamic capital markets, Islamic financial markets and Islamic money market have expanded the reach of IBF to new clients and jurisdictions.

As a result of these exciting developments, financiers and bankers working in the field or those who wish to enter the Islamic financial market need to be aware of and trained in the principles, operations, techniques and mechanism of Islamic finance and financial products as well as the dynamics of Islamic financial, capital and money markets.

The Objectives

General Objectives

Durham Islamic Finance Summer School (DIFSS) aims to provide such knowledge, skills and expertise, and help place participants in an advantageous position for entering and working in the Islamic financial sector. Durham Centre for Islamic Economics and Finance has an international reputation in teaching, conducting cutting-edge research and publishing in Islamic economics, banking and finance for about thirty years. Many of our Islamic economics, banking and finance graduates and participants of the Summer School have gone on to work in the Islamic finance sector or now teach Islamic economics and finance all over the world. The DIFSS allows participants to take advantage of the Centre’s expertise to enhance and develop their knowledge skills over a 5-day intensive programme.

Particular Objectives

Branding strategy for UIII

As a new established university, Universitas Islam Internasional Indonesia (UIII) requires getting a recognition from peers’ university worldwide. This can be achieved through many activities such as collaborative actions, joint research, and seminar and so on. In other words, UIII ensures to develop a brand strategy. This will help the university to build rapport and favourability within the market. Further this will create an outstanding achievement so that UIII is memorable in the eyes of the consumers (potential students) and is considered as among reputable university. Among the strategic branding that can be maximised by participating the DIFSS are:

  • Based on our communication with the Director DIFSS, UIII’s students will be facilitated to present their works in the end of the DIFSS’s workshop in front of their peers and global audience. 
  • Students’ presentations will be also set when they visit to Maktoum College (validated by Dundee University).
  • This rare opportunity will be a great news and a landmark for UIII students’ achievements and potential for attracting more students worldwide to study in UIII.

Other benefits 

By participating DIFSS, a lecturer and students from FEB UIII will be expected to: 

  • Improve the knowledge of Islamic finance from the global experts.
  • Enhance international networks for future collaborative goals.
  • Gain confidence and international exposure in presenting and discussing a certain topic. 
  • Accept practical knowledge directly from industry players.
  • Visiting and presenting at Maktoum College and other places.  


The topics

DIFSS outlines various topics in Islamic Finance including:

  1. An Introduction to Islamic Finance
  2. Islamic Finance and Sustainable Development
  3. Islamic Fintech and Islamic Digital Economy
  4. Venture Capital and Fintech in the Context of Islamic Finance
  5. Product Development Process in Islamic Financial Institutions
  6. Sukuk Structuring Workshop
  7. Profit Distribution: Working Mechanism and Challenges faced by Islamic Banks and Islamic Windows
  8. Risk Management in Islamic Financial Institutions Workshop
  9. Liquidity Management Practices in Islamic Financial Institutions
  10. Corporate & Shariah Governance in Islamic Financial Institutions
  11. Islamic Social Welfare Institutions and Socio-Economic Development
  12. Dynamics of Halal Markets
  13. Emerging Shari’ah Issues in Islamic Finance Practice
  14. The Islamic Finance Industry’s Next Frontier: Inclusive Economies, Institutions, and Finance

The Participants

We propose to send a FEB UIII team consisting of one lecturer and three students. Dr. M. Luthfi Hamidi as a Head of Study MA Program in Economics will lead this team. The students will be selected based on their capacities (English proficiency and student’s work). Each student must prepare an abstract (1000 words) on Principle of Islamic Economics and will be assessed by the panel of PIE lecturers including Prof Mehmet Asutay. Upon the departing to the UK, the selected students must complete their works to be presented in the side event of DIFSS.