An MBA in Islamic Finance is an ideal way to advance your career in this huge and growing part of the economy. Focusing on good practice in management and commerce, the course aims to prepare you for progress into senior positions in organisations that operate according to Islamic principles.
Islamic finance is one of the fastest growing sectors in the financial world, estimated to be worth over US$1.5 trillion. This postgraduate qualification offers a suite of contemporary modules designed to prepare those with previous management or business experience for work in this dynamic sector.
Whatever area of industry or commerce you currently work in, this MBA course will assist you in gaining essential skills to work in Islamic finance. In addition, the programme aims to provide a critical understanding of the problems and challenges facing enterprises and organisations and equip you with the analytical and critical faculties to identify potential innovative solutions. These qualities are highly sought by prestigious international employers.
The course will cover how to evaluate and develop good practice in key areas of business management and in the commercial development of general and Islamic finance products and services. You’ll have the opportunity to acquire the skills needed to work effectively, independently and as part of a team.
For more information, please visit https://www.bolton.ac.uk/IslamicFinance/Home.aspx
The MBA in Islamic Finance (Executive) part-time is a chance to advance your career in this huge and growing sector by combining work and study commitments over two years. Focusing on management and commerce, the course aims to help you progress into senior positions in organisation that follow Islamic principles.
Islamic finance is one of the fastest growing sectors in the financial world, estimated to be worth over US$1.5 trillion. This postgraduate qualification offers a suite of contemporary modules designed to prepare those with previous management or business experience for work in this dynamic sector.
Whatever area of industry or commerce you currently work in, this MBA course is designed to assist you in gaining essential skills in Islamic finance. In addition, the programme aims to provide a critical understanding of the problems and challenges facing enterprises and organisations and equip you with the analytical and critical faculties to identify potential innovative solutions. These qualities are highly sought by prestigious international employers.
The two-year part-time course will cover how to evaluate and develop good practice in key areas of business management and in the commercial development of general and Islamic finance products and services. You’ll have the opportunity to acquire the skills needed to work effectively, independently and as part of a team.
This one-year full-time programme is designed to provide rigorous training at the frontier of research, giving you the opportunity to develop the advanced analytical and technical skills that are highly sought after by global employers.
The first of its kind at a global level, MSc Islamic Finance and Management is a cross-disciplinary specialised programme, aiming to provide management-related knowledge and skills to students who, at the same time, specialise in Islamic Finance. This programme requires less quantitative material, knowledge and skills then MSc Islamic Finance.
The programme consists of a set of core and elective modules, culminating in a practice-based business project or a research-based dissertation.
You will study:
You will then choose one elective modules. The list of modules may vary from year to year, but has typically included Decision Making and Business Modelling, Financial Management, Global Business, Islamic Capital Markets, and Strategic Marketing Management.
In the third term, you will complete a 12,000 word dissertation which could be a specific project with an organisation. Supervised by a faculty member with relevant experience, you will investigate in greater detail a subject that you have already studied as part of your programme. A major piece of independent work, the dissertation will enable you to exercise critical judgement and illustrate how economic analysis has relevance to financial decision taking.
International Opportunities
We organise an optional International Study Tour to a European destination, typically Switzerland. This intensive programme takes place over several days, normally in March/April, and offers you a great opportunity to get an ‘inside perspective’ on international business, and to network with key staff within organisations.
We organise and sponsor international conferences on Islamic economics and finance in collaboration with other leading global academic institutions such as the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank; International Shari’ah Research Academy (ISRA), Malaysia; and Kyoto University, Japan.
Guest Speakers
As part of your programme, you have the opportunity to enjoy presentations by academics and practitioners within your chosen area of interest. Past speakers have included leading academics and professional financiers and bankers, providing an ideal opportunity to gain practical knowledge and progressive insight in Islamic finance related areas.
The programme is mainly delivered through a mixture of lectures and seminars. Lectures provide key contents of a particular topic. Occasionally lectures might be delivered by guest speakers who are internationally recognised academic experts or practitioners in their field. Students can also attend the Durham Speaker Series including Islamic Finance Programme’s specialised seminars, providing the opportunity to network with senior business leaders, academics, staff and alumni.
Seminars provide the opportunity for smaller groups of students to solve problems and discuss and debate issues based on knowledge gained through lectures and independent study outside the programme’s formal contact hours. These help students to articulate the knowledge they have developed in the lectures and independent study time.
Students study 7 core modules, and select 1 elective module to study, which enables them to undertake more in-depth study of particular topics. This is followed by a 12,000 word dissertation to allow students to carry out independent research and develop their skills in analysis and scholarly expression, using an appropriate theoretical framework. They are supported in writing their dissertation through the study of research methods, and attending individual meetings with an allocated supervisor, who monitors their progress and provides advice.
Academic Support:
Throughout the year, students may have the opportunity to participate in extracurricular activities, which includes conferences and seminars organised within the programme and also professional conferences organised within the industry. Durham Islamic Finance Summer School in August should also be considered as an extremely valuable opportunity to develop practical knowledge and for networking purpose. They also have the opportunity to attend an International Study Week at an overseas location at the end of Term 2, which gives students the opportunity to learn about the business, economy and culture of another country, gain an ‘insider perspective’ on international businesses and network with key business staff.
Learning Resource:
Outside of timetabled contact hours, students are expected to undertake a significant amount of independent study in preparation for teaching sessions, assignments and other forms of assessment including exams, and general background reading to broaden their subject knowledge. All students have an Academic Adviser who is able to provide general advice on academic matters. Teaching staff are also available to provide additional support on a one-to-one basis via weekly consultation hours.
Students also have access to the facilities available at Mill Hill Lane including dedicated postgraduate working spaces, an onsite library and IT helpdesk.
This one-year full-time programme is designed to provide rigorous training at the frontier of research, giving you the opportunity to develop the advanced analytical and technical skills that are highly sought after by global employers.
MSc Islamic Finance is a specialised taught programme, involving quantitative methods in the analysis of Islamic and conventional finance by making reference to their technical particularities.
The programme consists of a set of core and elective modules, culminating in a practice-based business project or a research-based dissertation.
You will study:
You will then choose one elective modules. The list of modules may vary from year to year, but has typically included Behavioural Finance and Economics, Derivative Markets, Financial Management, International Finance, Multinational Finance, and Portfolio Management.
In the third term, you will complete a 12,000 word dissertation which could be a specific project with an organisation. Supervised by a faculty member with relevant experience, you will investigate in greater detail a subject that you have already studied as part of your programme. A major piece of independent work, the dissertation will enable you to exercise critical judgement and illustrate how economic analysis has relevance to financial decision taking.
International Opportunities
Guest Speakers
As part of your programme, you have the opportunity to enjoy presentations by academics and practitioners within your chosen area of interest. Past speakers have included leading academics and professional financiers and bankers, providing an ideal opportunity to gain practical knowledge and progressive insight in Islamic finance related areas.
The LLM International Development Law is perfect for you if you would like to study international law from an Islamic perspective. The course includes two compulsory modules – International Development Law and Islamic Finance Law – which will give you a solid foundation on which to build as you specialise in the area of international development. These will be combined with two modules of your choice from a wide range of options.
The International Development Law module considers the global issues of poverty eradication, human rights fulfilment and sustainable economic growth, and the related challenges. It also examines the foundations of international development law and seeks to offer a critical understanding of the political, economic and social context of global developmental challenges.
When Islamic Finance appeared in the banking sector in the 1970s, it wasn’t expected to survive. Not only did it survive, but it also weathered the storm of the financial crisis better than the conventional global finance market. The Islamic Finance Law module considers the lessons that can be learned. This cutting-edge module also examines the justifications for intellectual property rights from an Islamic perspective, and analyses the success of Islamic finance, seeking to understand how we can apply this learning to intellectual property and international trade.
The University of Hertfordshire is known for its great links with industry and its high-quality teaching, which is supported by cutting-edge research and practice and delivered by specialists at the forefront of their disciplines. The LLM International Development Law is regularly reviewed to ensure that its content is up to date and pertinent to current developments and challenges in the international arena.
Our innovative, practical teaching methods will equip you with the knowledge and skills you need – the intellectual, transferable, interpersonal and practical skills that will set you on the path of your chosen career with confidence. You can combine similar pathways if you wish, and graduate with a named joint pathway as well.
In addition to the compulsory and optional modules, we offer exciting co-curricular opportunities to further enhance your skills.
Level 7
Core Modules
Optional
The programme is taught via a range of innovative methods, from class seminars to group discussions, role plays to debates, to enable you to learn in the way that is most suitable for you, and to give you practical experience in a variety of contexts. Independent study is crucial, of course, to consolidate and deepen your understanding.
The compulsory modules are assessed by way of written assignments, giving you opportunities to apply your learning and demonstrate what you know. Case studies will be used in the Islamic Finance Law module.
A peer mentoring scheme is also on offer, offering further opportunities to develop skills of mentoring, teamwork and leadership.
Successful completion of the LLM International Development Law will provide you with the necessary knowledge and skills to work in the area of international development, whether in an international organisation, in government, civil society, the private or public sector, or in academia or research. Your skills will be highly applicable within the international context, as you will have gained a sound knowledge of Western legislation as well as laws pertaining to Asia, the Middle East and North Africa region, and Africa.
You will gain the necessary skills and knowledge required to work in this growing and sophisticated banking and finance sector.
On completion of your programme you will be able to effectively perform relevant banking and finance tasks, including specific requirements of Islamic banking, financial products and services.
You will also learn to be effective, working independently and as part of a team, while critically evaluating and developing good practice in the planning and management of general, commercial and Islamic banking and financial products and services.
The programme is block delivered and there are six entry points per year.
This course has been designed to provide you with necessary skills and in-depth knowledge required to work in this growing and sophisticated Islamic banking and finance sector. Specifically the course will:
On successful completion of the course students will be able to:
The course is delivered in four blocks of three day intensive study periods, followed by independent study and online support through the University’s virtual learning environment, Blackboard. Each module is taken and assessed over a six week block. Teaching is delivered through a combination of lectures, seminars and tutorials, using a wide range of learning activities.
Over the duration of your course a range of assessment techniques will be used.
Types of assessment include:
The weighting between exams and coursework varies between modules and years, but exams still play a major role.
Salford Business School is located at the heart of the University’s Peel campus in the newly refurbished Lady Hale Building, and the Chapman Building, offering state-of-the-art facilities for the Business School’s student learning community and just minutes from Manchester city centre. Chapman is a stylish modern space with six lecture theatres equipped with the very latest technology and large screen displays, a series of communal learning and breakout spaces, plus a Fairtrade café with panoramic views across the campus.
Lady Hale is the home to all dedicated business school student support including the school office, an employability hub, a base for the Business School society, and several open study spaces.
All University of Salford students also have access to the MediaCityUK campus including its study facilities. MediaCityUK is home to major BBC and ITV departments and over 80 businesses across the creative and digital sectors. It is recognised as one of the most innovative developments in Britain and is a vibrant place in which to live, work, socialise and study.
Over the past two or three decades or so, Islamic banking and finance has emerged as another viable way of financial intermediation. It has gained credibility and has spread worldwide and is the preferred way of banking for one fifth of the world's population. This taught MBA offers an opportunity to study the structure of the Islamic banking and finance industry, including its theoretical foundations, products, performance, Islamic financial instruments and risk management issues. These and other topics will be studied within the wider context of the banking and finance industry worldwide. The MBA aims to develop executives who will progress quickly to senior management positions in institutions that transact banking business on Islamic principles.
Course Structure
January intake: Taught modules are undertaken in the period of January to June and September to January and will involve the study of 120 credits. The dissertation (or equivalent) is valued at 60 credits and is undertaken during the period of June to September.
September intake: Taught modules are undertaken in the period of September to June and will involve the study of 120 credits. The dissertation (or equivalent) is valued at 60 credits and is undertaken during the period of June to September.
Compulsory Modules:
Organisations and People: This module examines key issues arising from contemporary research in organisational behaviour (OB) and human resource management (HRM). It provides an integrated analysis of management, organisations and people, developing the conceptual, strategic and practical skills necessary for managers in complex, global organisational contexts.
Management Research: This module analyses the philosophical basis for research in the management sciences, and examines a number of key methodological issues and approaches. Research designs for both quantitative and qualitative research methodologies are developed, including interviews, case studies, focus groups, surveys and experiments.
Islamic Finance: This course provides an insight into topical issues relating to Islamic financial instruments and related risk management issues. The first part of the course examines issues relating to financial contracting, instruments and various intermediation issues. The second part of the course focuses on the role of the capital market in providing Islamic financing and highlights financial engineering issues and well as risk management features of this type of business.
Islamic Banking: This module provides an insight into the key features of Islamic banking business. The first part of the course outlines the theoretical foundations and development of Islamic banking practices. In particular, the main characteristics of various types of Islamic banking products are discussed. The second part of the course examines the operational features of Islamic banks focusing on their performance and how they compete with conventional interest-based banks. The final part of the course outlines contemporary challenges to Islamic banking business.
International Banking: This module examines the origins of international banking, the activities of international banks, the markets in which they participate, and the sources of risk. You will investigate the determinants of the efficiency of international banks, and evaluate the implications for banks' strategic decision-making.
Optional Modules:
International Strategic Management: This module analyses strategic decision-making within business. You will develop a critical understanding of the strategic processes of business management, the interconnections with the functional domains of marketing, human resource management and corporate finance, and the management of knowledge systems.
Marketing Financial Services: This module surveys the tools of modern financial services marketing, focussing on the key methods of financial services marketing in the acquisition of customers and sale and distribution of financial services. The module progresses considering consumer behaviour, the changing customer demands, consumer heuristics and biases and ways in which financial services marketing has succeeded and failed.
Islamic Accounting and Financial Reporting: This module develops a critical awareness of theoretical and practical approaches to Islamic accounting and financial reporting. Islamic accounting standards are compared with IFRS, and the content and impact of academic research in this area is examined.
Contemporary Issues in Management: This module develops several theories and concepts introduced in Organisations and People, critiquing key issues arising from contemporary research in organisational behaviour (OB) and management. It provides a detailed and critical analysis of management, further developing the conceptual, strategic and practical skills necessary for managers in complex, global organisational contexts.
Banking and Development: This module critically evaluates the theory underlying the policy of financial liberalisation, and examines its implementation, primarily in developing countries. The impact of financial liberalisation on the financial systems of developing countries is analysed in depth.
Islamic Insurance: This module analyses the nature and principles of Islamic insurance, and examines the operational modes and practice of Islamic insurance. The structure of Islamic insurance markets is described, and constraints and opportunities for Islamic insurance and Islamic insurance accounting are highlighted.
Marketing Strategy: This module critically evaluates the contributions of various schools of thought in marketing, and examines the relevant analytical models and management practices, with emphasis on the strategic importance of marketing to all organisations.
Merger and Acquisition: This module provides an analysis of incentives and outcomes associated with merger and acquisition deals. It covers the development and execution of an acquisition strategy, the valuation of the target, the conduct of the negotiation, and the implementation of the post-merger integration plan.
Over the past two or three decades or so, Islamic banking and finance has emerged as another viable way of financial intermediation. It has gained credibility and has spread worldwide and is the preferred way of banking for one fifth of the world’s population. This taught MA offers an opportunity to study the structure of the Islamic banking and finance industry, including its theoretical foundations, products, performance, Islamic financial instruments and risk management issues. These and other topics will be studied within the wider context of the banking and finance industry worldwide. There is also an MSc version of this MA programme, and whilst the MSc is more suitable for candidates with some previous background in mathematics, statistics or econometrics, this MA is more suitable for candidates who prefer a less quantitative approach to their studies.
Course structure
January intake: Taught modules are undertaken in the period of January to June and September to January and will involve the study of 120 credits. The dissertation (or equivalent) is valued at 60 credits and is undertaken during the period of June to September.
September intake: Taught modules are undertaken in the period of September to June and will involve the study of 120 credits. The dissertation (or equivalent) is valued at 60 credits and is undertaken during the period of June to September.
Compulsory modules:
Research Methods: This module develops knowledge of intermediate and advanced research methods, and provides a basis in research methodology for those who may eventually wish to pursue research degrees.
International Financial Markets: This module provides an overview of financial instruments in a multi-currency world, taking account of insights from portfolio theory concerning the relationship between risk and return, the diversification of risk, and the pricing of assets.
Islamic Finance: This module provides an insight into topical issues relating to Islamic financial instruments and related risk management issues. The first part of the module examines issues relating to financial contracting, instruments and various intermediation issues. The second part focuses on the role of the capital market in providing Islamic financing, and highlights financial engineering and risk management features of this type of business.
Islamic Banking: This module provides an insight into the key features of Islamic banking business. The first part of the course outlines the theoretical foundations and development of Islamic banking practices. In particular, the main characteristics of various types of Islamic banking products are discussed. The second part of the course examines the operational features of Islamic banks, focusing on their performance and how they compete with conventional interest-based banks. The final part of the course outlines contemporary challenges to Islamic banking business.
International Banking: This module examines the origins of international banking, the activities of international banks, the markets in which they participate, and the sources of risk. You will investigate the determinants of the efficiency of international banks, and evaluate the implications for banks’ strategic decision-making.
Financial Crises and Bank Regulation: This module examines why banks and financial markets are inherently vulnerable to crises, and analyses the role of policy makers and institutions. The roles of monetary policy, bank supervision and regulation, corporate governance and ratings agencies in mitigating or exacerbating crises are considered.
Optional modules (choose 2):
Islamic Accounting and Financial Reporting: This module develops a critical awareness of theoretical and practical approaches to Islamic accounting and financial reporting. Islamic accounting standards are compared with IFRS, and the content and impact of academic research in this area is examined.
Corporate Risk Management: This module provides an analysis of pure risk and its management.
Bank Financial Management: This module provides a grounding in the nature, strategic context and managerial functions of financial management in banks and other financial services firms. Three key themes are: identification and management of the trade-off between risk and return; improvement of a bank’s value using market models; and external market-based tests of bank performance.
Financial Institutions Strategic Management: This module examines the main theoretical and practical issues concerning banking business. You will develop a critical awareness of the theory of the banking firm, the motives for international banking, and regulatory and structural issues impacting on bank behaviour.
Investment Strategy and Portfolio Management: This module evaluates the development of investment strategies for bonds, equities and derivatives that are designed to achieve optimal risk-return outcomes, and examines the measurement and evaluation of the performance of a portfolio of investments.
Islamic Insurance: This module analyses the nature and principles of Islamic insurance, and examines the operational modes and practice of Islamic insurance. The structure of Islamic insurance markets is described, and constraints and opportunities are highlighted.
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