BS in Islamic Banking and Finance (BS IBF)

Program Overview

The Bachelor of Studies in Islamic Banking & Finance (BS IBF) at Al-Ghazali University is designed in response to the rapid global expansion of Islamic finance and Pakistan’s strategic transition toward a fully Islamic banking system by 2028. Rooted in both classical Islamic scholarship and modern financial practices, the program addresses the growing demand for professionals who can confidently operate at the intersection of Shariah and contemporary economics. It reflects a century-long intellectual movement toward the Islamization of socio-economic systems while remaining aligned with present-day regulatory, market, and industry realities at national and international levels.

The BS IBF program offers a balanced, integrated curriculum covering conventional economics, finance, and business management alongside Islamic jurisprudence, particularly Fiqh al-Mu‘amalat and Shariah governance. It aims to develop ethically grounded, analytically skilled, and professionally competent graduates capable of contributing to Islamic financial institutions, regulatory bodies, and research environments. The program also fosters leadership, innovation, social responsibility, and lifelong learning, enabling graduates to pursue advanced studies and play a meaningful role in building a just, transparent, and sustainable financial system.

Eligibility Criteria

Intermediate (F.A/F.SC/I.COM) OR Equivalent with a minimum of 50% marks. Preference will be given to the students who have completed their second year of Dars-e-Nizami (i.e Darja Thania) from any Islamic Madrassa Board.

Note: Result awaited students are also eligible to apply.

Program Structure

NQF Qualification Level		Level 6
Minimum Credit Hours		133
General Education Courses		34 Credit Hours (14 courses)
Discipline-Related / Major Courses	Mandatory Core Courses (MCC)	33 Credit Hours (11 courses)
	Domain Core Courses	30 Credit Hours (10 courses)
	Electives	18 Credit Hours (06 courses)
	Total	81 Credit Hours (27 courses)
Interdisciplinary/Allied Courses		12 Credit Hours (4 courses)
Field Experience/Internship		3 Credit Hours
Capstone Project		3 Credit Hours
Program Duration		Minimum Duration: 04 Years (Eight Regular Semesters)Maximum Duration: 06 Years (Twelve Regular Semesters).Further extendible for 01 Year (Two Regular Semesters) with the permission of the statutory bodies.

Semester-wise breakup

Semester I
S. No.	Courses	Credit Hours	Category
1	Quantitative Reasoning-I [Business Mathematics]	3+0	GEC-I
2	Functional English	3+0	GEC-II
3	Applications of Information and Communication Technologies-Theory	02	GEC-III
4	Applications of Information and Communication Technologies-Lab	1	GEC-III
5	Principles of Management	3+0	MCC-I
6	Jurisprudence-I	3+0	Domain Course-I
7	Micro-Economics	3+0	IDC-I
Total Credit Hours (18)

Semester II
S. No.	Courses	Credit Hours	Category
1	Quantitative Reasoning-II [Statistics]	3+0	GEC-IV
2	Sociology	2+0	GEC-V
3	Expository Writing	3+0	GEC-VI
4	Everyday Science-Theory	2	GEC-VII
5	Everyday Science-Lab	1	GEC-VII
6	Fehm-e-Quran – I (for Muslim Students)	0+1	GEC-VIII
7	Principles of Marketing	3+0	MCC-II
8	Principles of Accounting	3+0	MCC-III
Total Credit Hours (18)

Semester III
S. No.	Courses	Credit Hours	Category
1	Foreign Language-Arabic	2+0	GEC-IX
2	Pakistan Studies	2+0	GEC-X
3	Fehm-e-Quran – II	0+1	GEC (second part of Fehm e Quran I)
4	Human Resource Management (HRM)	3+0	MCC-IV
5	Financial Accounting	3+0	MCC-V
6	Jurisprudence-II	3+0	Domain Course-II
7	Business Law	3+0	IDC-II
Total Credit Hours (17)

Semester IV
S. No.	Courses	Credit Hours	Category
1	Civics and Community Engagement	2+0	GEC-XI
2	Ideology and Constitution of Pakistan	2+0	GEC-XII
3	Entrepreneurship	2+0	GEC-XIII
4	Islamic Studies (Religious Education / Ethics for non-Muslim students)	2+0	GEC-XIV
5	Business Finance	3+0	MCC-VI
6	Digital Marketing	3+0	MCC-VII
7	Fiq Al-Mu’amlaat	3+0	Domain Course-III
Total Credit Hours (17)

Semester V
S. No.	Courses	Credit Hours	Category
1	Business Research Methods	3+0	MCC-VIII
2	Banking Operations	3+0	Domain Course-VII
3	Data Analytics	3+0	IDC-III
4	Hadith Perspective on Trade and Finance	3+0	Domain Course-IV
5	Macro-Economics	3+0	Domain Course-V
6	Money and Banking	3+0	Domain Course-VI
Total Credit Hours (18)

Semester VI
S. No.	Courses	Credit Hours	Category
1	Financial Management	3+0	MCC-IX
2	Islamic Economics	3+0	Domain Course-VIII
3	Ethics of Disagreement in Islam	3+0	IDC-IV
4	Elective-I	3+0	Elective
5	Elective-II	3+0	Elective
Total Credit Hours (15)

*Note: Students shall be required to complete three (3) credit hours of field experience or internship any time after the completion of the 5th semester.

Semester VII
S. No.	Courses	Credit Hours	Category
1	Strategic Management	3+0	MCC-X
2	AI in Business	3+0	MCC-XI
3	Islamic Banking Deposit and Treasury Products (Business & Management Relevant Certification) * *	3+0	Domain Course-IX
4	Elective-III	3+0	Elective
5	Elective-IV	3+0	Elective
6	Capstone Project	2	Research
Total Credit Hours (17)

**Note: Students of BS programs under thematic areas of business and management are required to complete any relevant certification (equivalent to 3 credit hours in total) over the period of a four-year degree program as a mandatory condition degree completion. A certification will be considered equivalent to 1 credit hour if it involves 16 hours of study. The respective department will guide students in selecting relevant certifications, ensuring alignment with current market needs and the program’s objectives.

Semester VIII
S. No.	Courses	Credit Hours	Category
1	Islamic Banking Financing Products	3+0	Domain Course-X
2	Elective-V	3+0	Elective
3	Elective-VI	3+0	Elective
4	Capstone Project	1	Research
5	Internship/Field Experience	3	Field Experience
Total Credit Hours (13)

List of Elective Courses

S. No.	ELECTIVES	Credit Hours
1	AAOIFI Shariah Standards	3
2	Islamic Law of Sales and Contracts	3
3	Objectives of Shariah (Maqasid al-Shariah)	3
4	Islamic Law of Inheritance	3
5	Pool Management in Islamic Financial Institutions	3
6	Research Methods in Islamic Finance	3
7	Islamic Fintech	3
8	Takaful Practices in Islamic Finance	3
9	Islamic Business Ethics	3
10	Risk Management in IFIs	3

Degree Award Requirements (BS Islamic Banking & Finance)

As per the National Curriculum Revision Committee (NCRC, Oct 2025) guidelines, students enrolled in the BS Islamic Banking & Finance (BS IBF) program at AGU are required to fulfill the following degree award requirements:

1. Credit Hours and Duration

Students must successfully complete 133 credit hours over at least eight semesters, covering a minimum duration of four years.

• Cumulative Grade Point Average (CGPA)

At the completion of the degree program, students must have CGPA at least 2.00 on a 4.00 scale.

• Internship / Field Experience Requirement

In accordance with HEC guidelines, students must complete a field experience or internship carrying three (3) credit hours as a mandatory component of the BS program.

• Capstone Project Requirement

A capstone project carrying three (3) credit hours shall also be a mandatory component of the BS IBF program.

• Mandatory Certification Requirement

As per HEC guidelines for BS programs within the thematic areas of Business and Management, each student is required to complete at least one relevant professional certification during the four-year degree program.