The New York Times’s Hillary Brenhouse explores the proliferation in European and American higher education of courses and degrees in Islamic banking and finance:

At semiannual meetings of the International Monetary Fund and the World Bank in Istanbul last month, talk was largely dominated, inevitably, by the economic crisis and its aftermath. But suitably enough, given the location, another topic also came to the fore: the role of Islamic finance, a fast-developing sector of the global banking industry that has remained remarkably resilient through the slowdown.

With the value of assets in Islamic banks now close to $1 trillion and the industry growing at an estimated annual rate of 15 to 20 percent, business students are increasingly eager to cash in. Universities are increasingly offering new postgraduate programs in Islamic finance to help them do it.

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