MS Islamic Banking & Finance
Program Overview:
The MS IB&F program at Al Ghazali University is designed to equip students with comprehensive knowledge of banking and finance, integrated with the teachings of Islam. With the exponential growth of Islamic banking, the scope of this field is vast, and the demand for professionals with expertise in this area is immense. However, many programs offered elsewhere lack access to top-tier faculty and robust curricula.
AGU’s MS IB&F program stands out by being backed by leading Shariah scholars and finance experts. Our meticulously designed curriculum not only meets industry needs but also equips students with the latest technologies used in the field, ensuring they remain ahead of their peers. This program offers a unique advantage by blending rigorous academic training with practical insights, preparing graduates to excel in the dynamic field of Islamic banking and finance. In addition, our goal is to offer this program to professionals; and hence, this is a weekends.
Program Objectives:
- Equip students with comprehensive knowledge of banking and finance integrated with Islamic teachings.
- Address the growing demand for professionals in the rapidly expanding field of Islamic banking.
- Provide access to top-tier faculty, including leading Shariah scholars and finance experts.
- Develop a meticulously designed curriculum that meets industry needs and incorporates the latest technologies.
- Prepare graduates to excel in the dynamic field of Islamic banking and finance through rigorous academic training and practical insights.
Program Structure:
Program Structure for MS IB&F is given below:
| NQF Qualification Level | Level 7 |
| Total Credit Hours | 35 |
| Credit Hour Completion Options |
• MS with Thesis: 06 Credit Hours • MS with Coursework |
| Program Duration |
• Minimum Duration: 1.5 Years (Three Regular Semesters) • Maximum Duration: 3 Years (Five Regular Semesters) • Further extendible for 01 Year (Two Regular Semesters) with approval of statutory bodies |
| Coursework Structure |
GE Mandatory Courses – 2 Credit Hours Fehm-e-Quran I & II (1 CH each) For Non-Muslim students: Ethics in Business (2 CH) |
| Mandatory Core Courses – 12 Credit Hours (4 Courses) | |
| Domain-Specific Electives – 15 Credit Hours (5 Courses) | |
| Total Coursework – 29 Credit Hours | |
| Thesis / Electives |
• MS IB&F Thesis – 6 Credit Hours OR • 2 Elective Courses |
| Grand Total | 35 Credit Hours |
| Semester Duration |
• Regular Semesters: 16–18 weeks (including 1–2 weeks for examinations) • Summer Semesters: 8–9 weeks (including 1 week for examination) |
| Course Load Allocation |
• Regular Semester: 9–13 Credit Hours • Summer Semester: Up to 8 Credit Hours (Failure / Deficiency / Repetition courses only) |
| * Fehm-e-Quran is mandatory for Muslim students, while “Ethics in Business” is offered for Non-Muslim students, as approved by statutory bodies. | |
Thesis Requirement (6 Credit Hours)
The MS program can be completed through a research-based thesis that demonstrates the student’s ability to conduct independent scholarly inquiry under faculty supervision. The project must contribute to the existing body of knowledge in the field, and typically includes a research proposal, literature review, methodology, data analysis, results, and discussion. A successful thesis defense and evaluation are required for graduation. However, if students wish to complete the MS program solely through coursework, they may undertake 2 additional domain- specific courses of 6 credit hours.
Scheme of Studies
Semester I
| Title of the Course | Category | Credit Hours |
|---|---|---|
| Applied Research Design and Methods | Core I | 3 |
| Islamic Law of Contracts (ILOC) | Core II | 3 |
| Elective – I | Elective | 3 |
| Elective – II | Elective | 3 |
| Fehm-e-Quran I | GE | 1 |
| Total Credits | 13 |
Semester II
| Title of the Course | Category | Credit Hours |
|---|---|---|
| Contemporary Business Strategy in the Digital Era | Core III | 3 |
| Financial Markets & Institutions (Islamic Perspective) | Core IV | 3 |
| Elective – III | Elective | 3 |
| Elective – IV | Elective | 3 |
| Fehm-e-Quran II | GE | 1 |
| Total Credits | 13 |
Semester III
| Course Option | Nature | Credit Hours |
|---|---|---|
| Thesis – I OR Two Domain-Specific Electives | Research / Electives | 6 |
| Elective – V | Elective | 3 |
| Total Credits | 9 |
Semester IV
| Title | Nature |
|---|---|
| Thesis – II (Continued Research) | Research |
Domain-Specific Electives
| S. No. | Course Title |
|---|---|
| 1 | Advanced Topics in Islamic Jurisprudence & Fiqh |
| 2 | Takaful Operations |
| 3 | Pool Management in IFIs |
| 4 | Islamic & Commercial Banking |
| 5 | Corporate Finance |
| 6 | Research Methods in Islamic Banking & Finance |
| 7 | AAOIFI Shari’ah Standards (Ma’ayeer Al-Shari’ah) |
| 8 | Mejelle (Majall Tul Ahkam Al-Adaliyya) |
| 9 | Sharh Al-Qawaid Al-Fiqhiyya |
| 10 | Bidayat Al-Mujtahid |
| 11 | Islamic Social Finance |
| 12 | Business Law |
| 13 | Islamic Fintech |
| 14 | Risk Management in IFIs |
| 15 | Shariah Governance in Islamic Finance |
| 16 | Organizational Behavior and Leadership |
| 17 | Accounting and Auditing in IFIs |
| 18 | Monetary Economics |
| 19 | Islamic Economics |
| 20 | Portfolio Management in IFIs |
Takhassus Fi Fiqh Al-Mu'amalat
Overview
“Takhassus Fi Fiqh Al-Mu’amalat” is a Specialization in Islamic Commercial Law awarded by the pioneer institution Jamia tur Rasheed (JTR), offering the said degree since 2008.
Jamia tur Rasheed (JTR) has collaborated with Al-Ghazali University (AGU) to further enhance this program and equip students with the latest knowledge and skill sets required to compete in modern times.
This is a unique, customized 3-year program that includes a one-year – English Bridge Program (EBP). A diploma will be awarded for this program as well by AGU. The distinguished faculty of AGU and JTR have collaborated to make the following duration of “Fiqh Al-Mu’amalat” degree, rigorous. Relevant courses are incorporated in the curriculum leading to MS Islamic Banking & Finance, to be offered by AGU.
Program Structure
| Program Duration | 1+2 years (including Research) to be completed in 4 Years duration maximum |
|---|---|
| Total Number of Credit Hours For the MS IB&F program, courses attempted in EBP, FUM, and Foundation will be considered non-credited, zero-semester, and will not be part of the MS IB&F transcript. |
FUM: Takhasus in Fiq Al-Mu’amlaat degree by JTR will be awarded.
EBP: 36 Credit Hours (English Proficiency Diploma by AGU) MS IB&F: 36 Credit Hours (including Research) program by AGU |
| Program Shifts & Timings |
EBP: Regular - Full Time FUM: Regular - Full Time MS: Regular – Evening |