Islamic Finance MSc
City Campus , United Kingdom
Master of Science in Islamic Finance
University of Dundee
Islamic Finance
Program Overview: MSc Islamic Finance at the University of Dundee
The MSc Islamic Finance at the University of Dundee is a unique postgraduate program delivered in collaboration with Al-Maktoum College of Higher Education. It teaches you the core principles of Islamic finance, banking, and political economy while also covering the foundations of conventional finance, giving you a well-rounded understanding of both systems.
You will develop your understanding of the application of Islamic commercial law in relation to Islamic financial institutions and financial products, as well as the emergence and working mechanisms of Islamic capital markets. The program also covers the operations of Islamic banks, risk management in Islamic financial institutions, and contemporary issues and debates in the field.
Few MSc degrees of this kind exist in the UK, making this program a distinctive opportunity for students interested in ethical and Shari'ah-compliant finance. An optional eight-week internship is available, providing real-world work experience that can be completed abroad or online, preparing you for a meaningful career in a rapidly growing global industry.
Key Program Highlights
- Unique collaboration between the University of Dundee School of Business and Al-Maktoum College, combining traditional finance expertise with Islamic studies
- AACSB-accredited School of Business, meeting the highest international standards of excellence in teaching and research
- Optional eight-week internship opportunity, including placements with the International Waqf Fund, for hands-on industry experience
- Access to the Centre for Entrepreneurship offering expert mentors, networking events, and start-up programmes to support your ventures
Curriculum and Modules
The MSc Islamic Finance curriculum is structured around nine modules, including core and optional components. Core modules provide a deep grounding in Islamic finance principles, capital markets, commercial law, and international business finance, while electives allow you to tailor your studies to your career goals.
International Business Finance
20 CreditsExamines the fundamental concepts of international trade, finance, and investment. Covers asset pricing, capital budgeting, financial risk assessment, balance of payments, foreign exchange markets, and exchange rate determination.
Islamic Capital Markets
20 CreditsExplores the nature of Shari'ah-compliant capital markets, their structure and products, and provides advanced practical analysis of applied models and working mechanisms. Develops a critical understanding of screening methodologies and Shari'ah compliancy issues.
Islamic Moral Economy and Finance
20 CreditsDefines Islamic economics to construct a comprehensive and integrated economic system. Provides a critical appraisal of key theories, evaluates the implementation of Islamic finance according to Islamic moral economy postulates, and examines market imperfection from the perspective of Islamic economics.
Islamic Commercial Law and Financial Transactions
20 CreditsDevelops an understanding of the concepts and principles of Islamic law and their application in commercial transactions. Provides advanced knowledge of the various contracts in Islamic commercial law and their contemporary applications in financial products.
Islamic Business Project Report
20 CreditsBuilds your confidence in producing a professional international finance report. Focuses on writing concisely and providing clear, focused analysis of a topic or issue in a way that influences and guides managers and decision makers.
Internship (Optional)
20 CreditsAn optional eight-week placement matched to your chosen industry and organised by the School of Business. Provides hands-on exposure in Islamic finance organisations, and can be completed abroad or online from home during the summer period.
Elective Modules
Admission Requirements
The MSc Islamic Finance program welcomes applicants from a range of academic backgrounds who have developed analytical and quantitative skills. 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 application.
Academic Requirements
- Minimum DegreeA UK Lower Second-Class Honours (2:2) degree or international equivalent
- Subject BackgroundAny subject that has enabled the applicant to develop analytical and quantitative skills
- Professional ExperienceCandidates with substantial professional experience may be considered where standard academic criteria are not fully met
- TranscriptsOriginal academic transcripts and degree certificates required for graduated applicants
- Pre-sessional PathwayPre-Masters pathway available through International College Dundee for those not meeting direct entry requirements
English Language Requirements
- IELTSOverall 6.0, with minimum 5.5 in each component (Listening, Reading, Writing, Speaking)
- TOEFL iBTOverall 78, with Writing 23, Listening 19, Reading 18, Speaking 18
- Pre-sessional EnglishPre-sessional English courses available for applicants who do not meet the standard language requirements
Required Documents
For personalized admission guidance, document verification, and application support, please contact Uni4Edu
Scholarships and Funding
The University of Dundee and Al-Maktoum College offer several scholarship opportunities for postgraduate students on the Islamic Finance program. Students who secure a university scholarship automatically receive additional living support from Al-Maktoum College, enhancing the overall funding package.
Vice Chancellor's Scholarship / Global Excellence Scholarship
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 MSc Islamic Finance are well-prepared for careers in both conventional and Islamic financial sectors. Islamic financial institutions now operate in over 75 countries worldwide, and many Western banks are increasingly offering Shari'ah-compliant products, creating strong global demand for qualified professionals in this field.
Potential Career Roles
Potential Employers
Rankings and Recognition
The University of Dundee is a respected institution established in 1881, consistently recognised in major national and international rankings. Its School of Business holds AACSB accreditation, a distinction earned by a select group of business schools worldwide, and the university was named Scottish University of the Year by the Daily Mail University Guide 2025.
| Subject | Ranking Body | Rank |
|---|---|---|
| Finance (Student Satisfaction) | National Student Survey | #1 in Scotland |
| Business and Management Studies | THE World University Rankings by Subject | #401 |
| Social Sciences | US News and World Report | #419 |
| Overall (UK National) | The Times Good University Guide | #23 |
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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