Malappuram (Kerala) March 22 (IANS): Malappuram-based Ma'din Academy will offer bachelors and masters programme in Islamic banking and finance, starting September this year, both in Kerala and in the Middle East.

Top officials of International Islamic University Malaysia (IIUM) and Ma'din Academy signed an MoA to this effect in Kuala Lumpur, said Ma'din Academy officials in a press release here on Tuesday.

The curriculum and course structure of the programme has been designed by IIUM.

Ma'din Academy, through this new course, expects to assist economic growth in the country by introducing Islamic Banking to the Indian financial system.

To start with about 100 students will be taking the undergraduate and postgraduate courses in Islamic banking and finance.

The faculty from IIUM would be involved in conducting the programme at Ma'din Academy.

Students will also be trained for a month every year at the IIUM.

After successful completion of this programme, students will be exposed to wide ranging placement opportunities in the Islamic banking sector, which is well established in the Gulf and Asean countries.

With a business turnover of over $2 trillion and recognition in more than 75 countries, Islamic banking as an academic study opens up a plethora of opportunities.

Islamic banking is growing at a faster pace than the conventional banking industry with an annual growth rate of over 17 percent.