Islamic Banking and Finance MSc
City Campus , United Kingdom
Islamic Banking and Finance MSc
University of Dundee
Islamic Banking and Finance
Program Overview: Islamic Banking and Finance MSc
The Islamic Banking and Finance MSc at the University of Dundee provides a comprehensive understanding of Islamic finance principles and their application within the global financial system. Delivered in collaboration with Al-Maktoum College of Higher Education in Dundee, this program uniquely combines the university's strong tradition in teaching finance and economics with Al-Maktoum's specialist expertise in Islamic banking, finance, and wider Islamic studies.
You will develop a deep understanding of Islamic commercial law as it applies to financial institutions and products, and explore the emergence and working mechanisms of Islamic capital markets. The program covers the operations of Islamic banks and financial markets, the nature of risk management in Islamic financial institutions, and contemporary issues and debates shaping the industry today.
As one of very few programs of its kind in the UK, this MSc equips you with both theoretical knowledge and practical skills for a career in ethical and Shari'ah-compliant finance. An optional eight-week internship, including opportunities with the International Waqf Fund, gives you real-world exposure to Islamic finance organisations while completing your degree.
Key Program Highlights
- Unique collaboration between the University of Dundee School of Business and Al-Maktoum College, combining traditional finance expertise with specialist Islamic studies
- AACSB-accredited School of Business ensuring the highest standards of excellence in teaching, research, and curriculum
- Optional eight-week internship opportunities including placements with the International Waqf Fund in the Islamic finance sector
- One of very few MSc Islamic Finance programs of its kind available in the United Kingdom
Curriculum and Modules
The Islamic Banking and Finance MSc is structured around core modules that provide essential knowledge in Islamic finance, banking, and commercial law, complemented by optional modules that allow you to specialise further. In total, you will study nine modules across the MSc degree, assessed through a combination of coursework and end-of-semester examinations.
Islamic Moral Economy and Finance
20 CreditsExplore the foundations of Islamic moral economy and the ethical principles underpinning Islamic finance, examining how these shape financial practices and institutions worldwide.
Risk Management in Islamic Banking and Finance
20 CreditsGain an advanced understanding of risks associated with Islamic financial products and institutions, developing critical reasoning for managing different risks while maintaining compliance with the Islamic value system.
Applied Islamic Banking and Insurance
20 CreditsStudy the theoretical aspects and contemporary applications of Islamic banking and insurance systems, critically examining institutional frameworks, governance systems, regulation, and the main controversies and challenges facing them.
Prototyping and Product Development for Islamic Banking and Finance
20 CreditsDevelop an understanding of the concepts and principles of Islamic law and their application in commercial transactions, gaining advanced knowledge of various contracts in Islamic commercial law and critically evaluating modern Islamic financial products.
Accounting and Auditing in Islamic Banking and Finance
20 CreditsAcquire an advanced understanding of the accounting and reporting framework, standards, and practices of Islamic Financial Institutions, discussing and practising various accounting, financing, and auditing activities.
Professional Development and Careers
20 CreditsPrepare to get the most out of your studies and further your career after graduation, meeting students from different courses and developing essential professional skills for the world of business.
Elective Modules
Admission Requirements
The Islamic Banking and Finance MSc welcomes applicants from a range of academic backgrounds. Candidates with relevant professional experience may also be considered, even if they do not meet standard academic criteria. Contact Uni4Edu for personalised guidance on your eligibility and to begin your application.
Academic Requirements
- Minimum Degree ClassificationUK Lower Second-Class Honours (2:2) degree or international equivalent
- Relevant DisciplinesFinance, Economics, Business, Accounting, or related fields preferred; other disciplines considered
- Professional ExperienceCandidates with substantial professional experience in finance or banking may be considered without standard academic qualifications
- International QualificationsEquivalent qualifications from recognised international institutions are accepted; contact Uni4Edu for country-specific requirements
- Pre-sessional PathwaysPre-sessional English courses and alternative pathways available for candidates who do not meet standard entry requirements
English Language Requirements
- IELTSOverall 6.0 with minimum 5.5 in Listening, Reading, Writing, and Speaking
- TOEFL iBTOverall 78 with Writing 23, Listening 19, Reading 18, Speaking 18
- PTE AcademicOverall 59 with Writing 60, Reading 59, Listening 59, Speaking 59
Required Documents
Application Deadlines
For personalized admission guidance, document verification, and application support, please contact Uni4Edu
Scholarships and Funding
The University of Dundee and Al-Maktoum College offer a range of scholarships to support postgraduate students on the Islamic Banking and Finance MSc. Students who secure a University of Dundee scholarship automatically receive additional living support from Al-Maktoum College. Contact Uni4Edu for full details on eligibility and application.
Vice Chancellor's Scholarship / Global Excellence Scholarship
Competitive merit-based scholarships available to outstanding international applicants. Recipients automatically receive the Al-Maktoum Living Support of GBP 3,000, paid in ten monthly instalments of GBP 300.
For detailed tuition fee information, please contact Uni4Edu — we will guide you through the costs and available funding options for this program.
Career Prospects
Graduates of the Islamic Banking and Finance MSc are well-prepared for careers in one of the fastest-growing sectors of global finance. Islamic financial institutions operate in over 75 countries worldwide, creating strong demand for qualified professionals who understand Shari'ah-compliant financial operations. The AACSB-accredited School of Business reports that 86% of master-level students have a job within six months of graduation.
Potential Career Roles
Typical Employing Sectors and Organisations
Rankings and Recognition
The University of Dundee is a well-established Scottish institution founded in 1881, consistently featured in major national and international rankings. Its School of Business holds AACSB accreditation, placing it among an elite group of business schools worldwide that meet the highest standards of excellence in teaching and research.
| Subject | Ranking Body | Rank |
|---|---|---|
| Business and Management | QS World University Rankings | 301-350 |
| Business and Management Studies | THE World University Rankings | #401 |
| Finance (Student Satisfaction) | National Student Survey | #1 in Scotland |
| Overall University | Daily Mail University Guide | #10 in UK |
How to Apply
Applying for this program is easy with Uni4Edu. Our team will guide you through every step of the process — from document preparation to final enrolment.
Contact Uni4Edu
Reach out to our team via email or phone. We will assess your profile and confirm your eligibility for this program.
Prepare Your Documents
Our advisors will provide you with a personalised checklist of required documents and help you prepare your application package.
Submit Your Application
Uni4Edu will submit your application on your behalf and keep you updated on its progress throughout the review period.
Receive Your Offer
Once accepted, we will help you understand your offer, arrange visa support if needed, and guide you through the enrolment process.
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