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Islamic Finance - MSc

Currently viewing course to start in 2024/25 Entry.

The MSc Islamic Finance meets the current demand for specialist knowledge and skills in a rapidly expanding field. The course provides you with the opportunity to explore the philosophical foundation of Islamic finance and the legal framework for Islamic financial institutions. It discusses the basic and advanced theories underlying Islamic financial institutions....

  • Level Postgraduate Taught
  • Study mode Full Time
  • Location City Centre
  • School Birmingham City Business School
  • Faculty Faculty of Business, Law and Social Sciences

This course is:

Open to International Students

Overview

The MSc Islamic Finance meets the current demand for specialist knowledge and skills in a rapidly expanding field.

The course provides you with the opportunity to explore the philosophical foundation of Islamic finance and the legal framework for Islamic financial institutions. It discusses the basic and advanced theories underlying Islamic financial institutions.

This course is critical in establishing the overall parameters of Islamic finance, offers a practical approach to the workings of the current Islamic financial practices in the banking industry in addition to Non-Government Organisations (NGOs). Also, this course encourages you to understand the connection between the theory of Islamic finance and the real world applications of the Islamic banking and Faith based NGOs.

You will communicate complex and abstract ideas in an articulate and confident manner, as well as learning a host of transferrable skills that will stand you in good stead for when it comes to securing employment in Islamic financial institutions, banking and NGOs. 

Professional Placement option

For our MSc Islamic Finance degree, you will have the opportunity to take the Professional Placement version of the course, which is offered as an alternative to the standard version of the course.

This will allow you to complete a credit bearing, 20 week Professional Placement as an integral part of your Master’s Degree. The purpose of the Professional Placement is to improve your employability and transferable skills. The placement experience will allow you to evidence your professional skills, attitudes and behaviours at the point of entry to the postgraduate job market.

You will be responsible for finding and securing your own placement. The University, however, will draw on its extensive network of local, regional and national employers to support you in finding a suitable placement to complement your chosen area of study, with support from our Careers+ team as well as advice and guidance from your School.

Please note that placements will only be confirmed following a competitive, employer-led selection process, therefore the University will not be able to guarantee placements for students who have registered for the ‘with Professional Placement’ course.

For full details, please click here.

This course is open to International students.

What's covered in this course?

The course aims to develop your ability in analysing and evaluating the principal features of Islamic finance. You will study the major concepts, values, principles and rules that dictate the discipline. You will be able to link between the Islamic finance and the mainstream global financial system with analytical abilities and problem solving skills through critical and creative thinking. The topics covered include the structure of the Islamic economic & financial system and its philosophy, Islamic contracts, Islamic financial products for the Islamic Financial Institutions & Faith based NGOs, regulatory frameworks, Shariah advisory standards. You will also be able to examine the practices of Islamic finance institutions and recommend the way forward.

You will have the opportunity to select the optional modules in the area you want to explore more. The rationale for optional modules is based on our vision on supporting students be successful in career in Islamic finance. The critical analysis skills that you will develop while studying on this course will enhance your employment opportunities in the financial, banking, business and faith based NGOs sectors, as well as enabling you to acquire a strong basis for progression to doctoral studies.

The international focus of the course is derived through a variety of means including the student body, the teaching team and the use of international teaching materials. Moreover, the course also enables you to be confident in the application of industry-specific skills, for example, with the use of platforms such as DataStream, and with problem-solving approaches having been exposed to real-life scenarios through industry guest-speaker workshops.

Moreover, you’ll also have the opportunity to gain industry experience by going on a professional placement. Whatever route you choose, the knowledge attained from the course will help you to seek a variety of employment in the sector nationally and internationally.

Why Choose Us?

  • Unlike other Islamic finance masters programmes offered elsewhere, our MSc Islamic Finance will have a unique focus on the humanitarian, business law, development NGOs and the wider third sector.
  • Teaching staff have practical experience in finance & Islamic finance and are actively involved in research in these areas.
  • We will prepare you for professional bodies' exams Certified Shariah Advisor and Auditor (CSAA) and Certified Islamic Professional Accountants (CIPA).
  • You can gain experience of working in the industry through our Professional Placement route.
  • MSc Islamic Finance will enable you to acquire a strong basis for progression to doctoral studies.
  • We will equip you for a variety of career paths in Islamic finance including regulators and practitioners in Islamic NGOs, Risk managers, Islamic bankers, Islamic accountants.
  • Following graduation, you will have the opportunity to apply for STEAMhouse Business Incubator membership.

OPEN DAY

Join us for an on-campus Open Day where you'll be able to learn about this course in detail, chat to students and explore our campus.

Next Event: 29 June 2024

Book Now

Entry Requirements

Essential requirements

You are required to meet one of the following options:

Essential Requirements
Typical Offers (UK Students)

An honours degree from a UK University (minimum 2:2)

An equivalent graduate level qualification from an overseas university or equivalent institution (minimum 2:2)

Successful passing a Pre-Master's course approved by Birmingham City University

Successful passing a Pre-Master's course at another UK university/institution with a minimum of 55 per cent average

Other qualifications will be considered on a case by case basis.

 

Please note that even if your application fully meets the entry criteria, you may be required to further demonstrate your suitability via an interview or submission of a course proposal before being offered a place.

Interviews may be conducted in your country of residence, over the telephone or by Skype.

Additional information for EU/International students
Essential

Applications from international applicants with equivalent qualifications are welcome. Please see your country page for further details on the equivalent qualifications we accept.

In additional to the academic entry requirements listed above, international and EU students will also require the qualifications detailed in this table.

English language requirements 2020/21
IELTS

6.0 overall with 5.5 minimum in all bands

If you do not meet the required IELTS score, you may be eligible for one of our pre-sessional English courses. Please note that you must have a Secure English Language Test (SELT) to study on the pre-sessional English course. More information.

Other accepted qualifications Visit our English language page

If you have a qualification that is not listed, please contact us.

Fees & How to Apply

Please select your student status to view fees and apply
  • UK Student
  • International Student

UK students

Annual and modular tuition fees shown are applicable to the first year of study. The University reserves the right to increase fees for subsequent years of study in line with increases in inflation (capped at 5%) or to reflect changes in Government funding policies or changes agreed by Parliament. View fees for continuing students.

Award: MSc

Starting: Sep 2024

  • Mode
  • Duration
  • Fees
  • Full Time
  • 1 Year
  • £12,075 in 2024/25
  • Full Time
  • 18 Months (Professional Placement)
  • £13,285 in 2024/25

International students

Annual and modular tuition fees shown are applicable to the first year of study. The University reserves the right to increase fees for subsequent years of study in line with increases in inflation (capped at 5%) or to reflect changes in Government funding policies or changes agreed by Parliament. View fees for continuing students.

Award: MSc

Starting: Sep 2024

  • Mode
  • Duration
  • Fees
  • Full Time
  • 1 Year
  • £17,710 in 2024/25
  • Full Time
  • 18 Months (Professional Placement)
  • £19,485 in 2024/25

The University reserves the right to increase fees in line with inflation based on the Retail Prices Index or to reflect changes in Government funding policies or changes agreed by Parliament up to a maximum of five per cent.

Personal statement

You’ll need to submit a personal statement as part of your application for this course. This will need to highlight your passion for postgraduate study – and your chosen course – as well as your personal skills and experience, academic success, and any other factors that will support your application for further study.

Not sure what to include? We’re here to help – take a look at our top tips for writing personal statements and download our free postgraduate personal statement guide for further advice and examples from real students.

Course in Depth

Modules

In order to complete this course a student must successfully complete all the following core modules (totalling 140 credits):

In order to complete this course a student must successfully complete at least 40 credits from the following indicative list of OPTIONAL modules:

Professional Placement Year

In order to qualify for the award of MSc Islamic Finance with Professional Placement, a student must successfully complete 180 credits of the Level 7 modules listed above as well as the following Level 6 module.

Download course specification

Download now

Employability

International

Welcome to the Birmingham City Business School, home to students from over 70 countries all around the world!

Birmingham City Business School is one of the UK’s largest, most established and most respected business schools. Our programmes are practice based and many have an international focus, which means your course will be entirely relevant to today’s business world. Almost all of our courses, both at undergraduate and postgraduate level, are open to international students.

We also have links with universities across the world, including Europe, the USA, China, India and Malaysia.

International Services

Our international pages contain a wealth of information for international students who are considering applying to study here, including:

The University is conveniently placed, with Birmingham International Airport nearby and first-rate transport connections to London and the rest of the UK.

Facilities & Staff

Curzon facilities eatery
Curzon facilities staircase
Curzon facilities student hub

Our Facilities

We are constantly investing in our estate and have spent £400 million on new learning facilities.

The Curzon Building

This course is based at our City Centre Campus – and specifically The Curzon Building, alongside other Social Sciences, Law and Business students.

The £63m building offers students a unique social learning space, including a dedicated student hub incorporating student support services, in the heart of Birmingham’s Eastside development.

The Business floors house an extensive number of IT facilities, breakout areas, and specialised rooms. The Marketing Link Agency is designed to replicate a modern marketing firm, allowing students to get real-life experience of working in the marketing sector. There is also the City Trading Room, which features state of the art stock market tracking equipment, keeping you up to date with all the financial comings and goings of the London Stock Exchange and Wall Street.

The Curzon building is also conveniently close to Birmingham’s business and financial centre, allowing for strong links between your studies and the real world.

The Curzon Building also features:

  • An impressive library with access to over 65 million full text items and stunning views of Eastside City Park
  • Your Students’ Union which is located in a beautifully restored 19th century pub, The Eagle and Ball
  • A modern 300-seat food court with space to study and socialise
  • Accessible IT facilities with full Office365 for all students for free
  • Shared facilities with the wider campus including the Parkside Building and Millennium Point

Our staff

Dr Wahabalbari Ahmed

Senior Lecturer and Programme Director

Dr Wahabalbari Ahmed is a distinguished academic with over eight years of experience as a Senior Lecturer and Program Director at Birmingham City University. Dr Wahabalbari has a strong background in Islamic Finance, Business Economics, and Research Methodology.

More about Wahabalbari