02nd September 2009
Two new postgraduate taught programmes from a leading University and School specialised in Islamic finance and banking studies and research with over twenty years of experience.
The Research Degrees offered in Islamic Finance are recognised by the Saudi Ministry of Higher Education, the Central Bank of Bahrain and Bank Negara, the Central Bank of Malaysia.
The new MA in Islamic Finance and MSc in Islamic Finance are now ready to take admissions for the academic year 2009-2010, as part of the Durham Islamic Finance Programme (DIFP) located in the School of Government and International Affairs (SGIA).
Being the major centre for Islamic banking and finance studies in the West, DIFP and SGIA provide a number of programmes and courses in Islamic economics, banking and finance.
These new programmes will be jointly offered by SGIA and Durham Business School (DBS) by bringing together the expertise and reputation of two important institutions in their field.
The contribution by DIFP through teaching and research over two decades is an indication that the MA/MSc in Islamic Finance will be yet another successful area of the programme, which will further contribute to the reputation of our programme.
Rationale for MA/MSc in Islamic Finance Programme
Islamic banking and finance has become an important alternative banking and financing method all over the world and Islamic financial institutions are now operating in more than 70 countries involving the financing of various popular world brands.
Durham University has an international reputation in research as well as academic qualifications in the field; as currently Ph.D. and MAR (MA by Research) degrees are offered alongside Durham Islamic Finance Summer School (DIFSS). Doctoral and the Summer School programmes have become the largest and most successful programmes in the field.
The new MA and MSc Islamic Finance, as taught programmes, are intended to provide masters-level education and training in relevant specialised areas of Islamic finance and conventional finance in a supportive learning environment informed by research and shaped by the reputation of two specialised schools in their fields: SGIA and DBS. Considering that DIFP is the only well established centre for research and teaching in Islamic finance in the West, the new MA/MSc in Islamic Finance will be another contribution of the DIFP to the development of the field and sector.
The broad aims of MA/MSc in Islamic Finance are:
- to develop an advanced understanding of the economics and finance and working mechanism and complexity of Islamic finance including its legal and regulatory framework and Shariah compliancy process;
- to develop an advanced understanding of issues, such as risk, in Islamic finance and conventional finance including their practical aspects;
- to develop a critical awareness of current issues in Islamic and conventional finance;
- to develop a specialised understanding of appropriate techniques, peculiar to Islamic and conventional finance, sufficient enough to allow investigation into relevant financial management issues;
- to develop a critical awareness of ethical and corporate social responsibility issues in Islamic and conventional finance;
Structure of the Programme
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MA in Islamic Finance (Course Code T6KP07)
Term One
Islamic Political Economy (C)
Islamic Law and Financial Transactions (C)
International Finance (C)
Theory of Finance (C)
Research Methods in Business & Management (C)
Term Two
Islamic Banking and Finance (C)
Islamic Accounting (C)
Plus one module chosen from the following optional modules:
Financial Management (O)
Financial Risk Management (O)
Multinational Finance (O)
Behavioural Finance (O)
Term Three: Dissertation (C)
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MSc in Islamic Finance (Course Code T6K209)
Term One
Islamic Political Economy (C)
Islamic Law and Financial Transactions (C)
Theory of Finance (C)
Optional Module:
International Finance (O)
Term Two
Islamic Banking and Finance (C)
Quantitative Research Methods (C)
Corporate Finance (C)
Financial Risk Management (C)
Plus one module chosen from the following optional modules (unless International Finance was chosen in Term One):
Islamic Accounting (O)
International Financial Asset Management Finance (O)
Financial Management (O)
Multinational Finance (O)
Behavioural Finance (O)
Term Three: Dissertation (C)
Note:
C: Compulsory Module;
O: Optional Module;
Each module carries 15 credit; and Dissertation module carries 60 credits.
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Admission Requirements:
- § A bachelor’s degree (normally a 2.1 or first class degree) or an equivalent professional qualification from a recognised institution.
- § Applicants for MSc in Islamic Finance should have knowledge and familiarity in quantitative economics and finance
Proficiency in English:
Applicants are expected to have IELTS score of 6.5 which is equivalent to TOELF 600.
Application Process:
- § Application is only possible through online
- § Applications would only be processed after receipt of complete application materials including transcripts and/or degrees (scanned copies are acceptable for initial screening), evidence of IELTS score of 6.5 (with no element of that score being less than 6) AND two academic references.
Applications for 2009/2010 are now closed. Please apply for 2010/2011
For further information, please contact:
Dr Mehmet Asutay
email: mehmet.asutay@durham.ac.uk or
SGIA Postgraduate Admissions :
email: sgia.pgadmissions@durham.ac.uk
Islamic Finance in Sri Lanka 
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