Religious organizations and entities do not govern western financial institutions and banks. Instead, they are governed by federal, state, and local governments and their elected representatives. However, in the Middle East, most of the rules and regulations in the countries are derived from Sharia law. Some of these countries include Saudi Arabia, Pakistan, Iraq, Iran, Indonesia, Egypt, Afghanistan, and the United Arab Emirates.
Even if you have banking experience in the west, it does not qualify you to get an Islamic banking job in the Middle East. You need an education in Islamic banking and the differences between it and the traditional banking system. Such an education requires you to learn about Sharia law and all the ways in which it governs the financial institutions of Middle Eastern countries.
If you already earned your Master of Islamic Banking Degree, then you should have a pretty good understanding of Sharia law and Islamic banking. But you might only understand some of the differences between the two types of banking systems. If you want a complete education that teaches you about all the differences and how to succeed as an Islamic banking professional, then you need a Doctorate Degree in Islamic Banking.
American International Theism University offers an all-inclusive education in Islamic Banking to students who already possess a Master’s Degree in the subject. It is easy to enroll in our Doctorate program as long as you have a Master’s Degree from an accredited university. If you earned your previous degree from our university, then the enrollment process will move even faster.
Students can earn their Doctorate of Islamic Banking in 12 fast months. The courses are challenging but highly rewarding. They will prepare you to enter the Islamic banking job market with all the knowledge needed to succeed in it. If you excel at your job performance, then you can earn a better paying job in a short amount of time. Progress is rewarded in the Islamic banking industry.
Doctorate of Islamic Banking and the Multicultural Effect
There are a great number of people moving to the Middle East and working there. Why not? Middle Eastern countries like Saudi Arabia and the United Arab Emirates offer a lot of job opportunities in the oil industry, banking industry, and education industry. It makes sense that foreigners would want to come to this region of the world and apply for many of the high paying positions that are available in it.
Do you currently possess a Master of Islamic Banking degree? If so, then you could become the next person to receive a high paying bank job in the Middle East. In fact, you could probably get a job like that right now with the credentials you currently possess. However, why not go all the way with your education and earn your Doctorate of Islamic Banking? Then it would prioritize your resume above everyone else’s resume in the region.
Multiculturalism coincides with globalization in a lot of ways. Islamic bankers must work with lawyers and investors of different cultures around the world. Whether you are working for an Islamic bank or merely doing business with one, you need to understand the cultural differences between Sharia governance and western governance. That way, you can succeed as a professional person or business person in the Islamic banking industry.
American International Theism University allows its students to earn a Doctorate of Islamic Banking Degree in just one year’s time. You can enroll in this Doctorate program if you’ve already earned your Master’s Degree. Once our admissions officers verify it is a valid degree from an accredited college institution, then you will most likely be accepted.
Upon your graduation, you will have all the knowledge you need to adapt to the cultural differences of the Islamic banking industry. Then you will be a high-demand applicant once you start applying for jobs in the Middle East.
Doctorate of Islamic Banking and the Effects of No Interest Loans
When you see bank loans advertised in the west, you might see a promotional deal like “No Interest APR for 12 months” or something similar to that. Western banks make their money from charging interest to their borrowers. Since borrowers do not like to pay interest because it means more money out of their pocket, the banks try to persuade them by offering “no interest” deals like this.
However, once the promotional time limit has expired, the borrower must pay anywhere from 8% to 30% APR on their loan. In the case of personal loans, the APR could even be well over 100%. You will never see anything like this come from Islamic banks. Why? Because Sharia law forbids Islamic banks and financial institutions from profiting by charging interest to their customers.
Imagine a bank that does not charge interest at all. It would be hard to believe for someone in the west. However, Sharia law believes that a service or product should be sold when any type of profit is made. It does not want money to be generated from nothing, which is essentially what interest payments are all about. Of course, this also means that savings account holders cannot make money on interest either.
These are just small samples of what you will learn about Islamic Banking and Sharia law when you study for your Doctorate of Islamic Banking Degree at American International Theism University. It will prepare you to work in a banking system that profits in an entirely different way than western banks. Instead of worrying about charging your customers interest, you will establish other ways for your bank to profit.
Are you excited and eager to earn your Doctorate of Islamic Banking Degree? If so, then you can apply for the program today on the website of American International Theism University.