Arabic language forum ash-Shamūkh al-Islāmīyyah announced the creation of the Shamūkh College of Islamic Sciences

UPDATE: See Farrall’s clarification below in the comments regarding the nature of this endeavor in comparison to past efforts.
NOTE: Though this is not the first time a forum has created an online college, according to Leah Farrall, I thought it would be worthwhile to mention this. Here is a paraphrased translation of the nine conditions and regulations for joining the college:

  1. The language of instruction is only in Arabic.
  2. The study period is over a two years and divided into four semesters.
  3. Each semester will last five months with thirty lectures per semester.
  4. A specialty teacher will conduct a class every five days and it is incumbent on the student to be prepared and ready for each lesson and not to be absent without telling the college’s management.
  5. A student that does not participate in class or raise any questions is considered absent.
  6. Any student that does not attend a lecture three times or more without having permission from the college will be terminated from the program.
  7. Students are evaluated based on participation and interaction in the class.
  8. One can enroll up until October 31, 2010.
  9. The first day of class will begin November 2, 2010.

The same post also stated that one should let the administrators know if they were interested in attending by responding in the same thread or contacting the Office of Student Affairs. In another thread, the Office of Student Affairs is allowing interested individuals to ask questions about the program through the enrollment date mentioned above.
Below is the statement announcing the establishment of Shamūkh College of Islamic Sciences.