The CII and Islamic Insurance Association of London have worked with the University of Bolton to launch an MBA in Islamic Finance (Executive).
The part-time two-year graduate degree focuses on management and commerce, with the aim of helping insurance professionals progress into senior positions in organisations that follow Islamic principles.
Applicants for the MBA need at least two years' relevant work experience and a UK honours degree, postgraduate degree or equivalent.
The MBA will ensure professionals develop a comprehensive knowledge of methodologies and concepts of Islamic Law, as well as the application of legal principals within Islamic business transactions.
Students will be taught how to assess unique issues associated with Islamic financial products and operations, and to identify risk elements and mitigating techniques relating to Islamic banking.
A Masters-level dissertation must be submitted to achieve the MBA.
Max Taylor, chair of the Islamic Insurance Association of London, said: "We are extremely pleased to have played our part in the creation of this MBA, which will provide a recognised qualification in an ever more important area of the global risk and insurance profession.
"The involvement of the University of Bolton and the CII ensures that this course will set the standard for a qualification that we believe will be recognised and valued by employers across the profession.
"We very much hope this will be seen as an attractive opportunity for students across the world to utilise the MBA in their efforts to pursue a career within Islamic insurance and it forms a significant part of the Islamic Insurance Association of London's efforts to create the foundations for the establishment of Shariah-compliant capacity within the London market."