Why do a Master in Islamic Banking and Finance?

Islamic finance industry has experienced a remarkable growth during the past two decades. It has become a major source of wealth creation and a vehicle for investment in major financial centres of the world. More than 350 Islamic banks and financial institutions are operating in over 60 countries in different regions including Europe, Americas, South Asia, Far East, Africa and Australia. The current size of global Islamic finance industry assets is approaching US $1 trillion, and is expected to reach US$ 4 trillion by 2020. The conventional financial system is under significant strain owing to the recent credit crunch, and Islamic products and portfolios are offering an alternative viable mode for investment and finance. Master in Islamic Banking and Finance program seeks to educate and train learners in such key areas as Islamic banking, finance, Shariah, economics, accounting, risk management, and corporate governance.

Target Audience

The aim of the program is to prepare leaders, learners and champions having an in-depth understanding of the economic, financial, legal and regulatory environments in which Islamic banks and financial service providers operate. The program is addressed to:

• Those who wish to avail of opportunities in growing areas of Shariah consultancy, Islamic investment banking, Islamic commercial banking, Islamic fund management and capital market (such as Islamic bonds and Sukuks), Islamic risk management etc.
• Those who wish to fast-track their career in Islamic banking and finance
• Professionals currently working across different sectors, markets and organisations such as banking and finance, law firms, investment companies, and standards and regulatory bodies
• Investment consultants, lawyers and accountants who wish to enrich their portfolio of offerings including Islamic products and services to meet the demand of clientele from conventional and Islamic financial service sectors.

What is unique about the program?

• Taught by world class faculty to guarantee scholastic learning combined with practical experience
• Flexible delivery model using e-learning platform and resources to suit lifestyles of busy professionals in employment
• Use of innovative teaching and learning methods to develop practical business skills built on sound theoretical expertise and competencies, and complemented by case studies.
• Local practitioners-led case studies to contextualize problem-solving with reference to the Middle East
• Opportunities to explore and test the advanced theories at workplaces and in local industry
• Sharper focus on business operations in relation to the cultural and economic contexts of the Middle East and North Africa region.

Program Goals

The Master in Islamic Banking and Finance program will explore theoretical concepts as well as case studies through individual and group activities. The specific goals of the program are to:

• Illustrate the need, structure and operations of Islamic banking and finance
• Explain the concept of Shariah, its sources and its application to Islamic banking and financial transactions
• Explore how Islamic banking differs from the conventional banking system
• Understand the services and products of Islamic banking
• Gain practical knowledge of the practice of Islamic banking and finance through conducting case studies
• Produce high calibre professionals with the necessary technical skills and knowledge in Islamic Banking and Finance
• Develop teamwork and experiential skills
• Develop research skills and ability to communicate effectively
• Strategically train up ambassador learners to build knowledge, skills, competencies and experience as they get into the Islamic finance industry.

Program Outcomes

• Appreciate the rationale behind the growth and development of modern Islamic finance
• Distinguish Islamic banking and finance from its conventional counterpart
• Develop an in-depth knowledge of the underlying principles of Islamic banking and finance
• Distinguish between Islamic finance and its conventional counterpart

Delivery Strategy

The Master in Islamic Banking and Finance program follows a blended learning approach that integrates the benefits of classroom learning, self-paced and online learning. In blended learning approach the program will consist of some parts delivered online and the others delivered through traditional classroom environment. The design of this approach combines the power of e-Learning tools with traditional classroom learning to ensure maximum effectiveness by taking the best from self-paced, class room based, and online delivery to achieve flexible, cost-effective learning that can reach the widest audience geographically and that accommodates different learning styles and levels.

Given the fact that this program will target a population of learners from different age groups and with different backgrounds; the delivery mode is designed to gradually prepare learners to move towards the concepts of self learning and online learning.

Program Tuition Fees

• The tuition fee for the entire 3 semesters of the Master in Islamic Banking and Finance program is AED 72,000