Islamic Banking and Finance
School - Salford Business School
Subject area - International Finance, Accounting and Economics
Start Dates(s): September; January; March; June; November; July
MSc (one year full-time or two years part-time)
PgDip (eight months full-time or two years part-time)
PgCert (four months full-time, one year part-time)
Part-time - £1,417 per 30 credit module
UK - £8,500
International - £13,500
- Gain the essential skills required to work in Islamic banking, one of the fastest-growing sectors in the financial world
- Strengthen your knowledge with modules focused on banking, finance and Islamic banking
- Put management theory into real practice with an exciting Business Innovation Project
- Part-time study option
- Overseas study available
- Work/industrial placement opportunity
- International students can apply
You will gain the necessary skills and knowledge required to work in this growing and sophisticated banking and finance sector.
On completion of your programme you will be able to effectively perform relevant banking and finance tasks, including specific requirements of Islamic banking, financial products and services.
You will also learn to be effective, working independently and as part of a team, while critically evaluating and developing good practice in the planning and management of general, commercial and Islamic banking and financial products and services.
The programme is block delivered and there are six entry points per year. Students will take the modules below in a sequence dependent on their start date.
This course has been designed to provide you with necessary skills and in-depth knowledge required to work in this growing and sophisticated Islamic banking and finance sector. Specifically the course will:
- Provide a rigorous, academically challenging and vocationally relevant programme of postgraduate study, and provide graduates with the appropriate advanced level skills and knowledge which will enable them to contribute to the needs of the growing and sophisticated Islamic banking and finance sector.
- Enable graduates to apply general banking requirements and the specific requirements in providing Islamic Banking and Finance products and services.
- Equip graduates with advanced level skills and understanding necessary to effectively and efficiently perform tasks relevant to the organisation or organisations involved with Islamic banking and finance services.
- Develop the intellectual ability to work effectively in teams and independently, to evaluate critically, think creatively and communicate effectively with respect to issues in general, commercial and Islamic banking and finance; and to recognize good practice in the analysis, planning and management of general, commercial and Islamic banking and finance products and services.
- Develop an advanced level understanding of research methods and an effective capability of applying advanced Islamic banking and finance concepts and techniques to a wide range of general, commercial and Islamic banking and finance problems.
On successful completion of the course students will be able to:
- Develop knowledge and critical understanding of essential components of Islamic finance theory and associated current research, and develop the capability of applying both general and Islamic financial concepts and principles to the analysis of corporate circumstances;
- Develop the capability of critical evaluation of the impact of market behaviour on bank performance and organisational behaviour with reference to Islamic bank products and services.
- Synthesise and critically evaluate recent and current literature on a wide range of MSc Investment and Finance theories and issues in order to develop and apply conceptual frameworks.
- Develop and apply a strategy for the collection, analysis, critical evaluation and interpretation of data.
- Work with others in making effective strategic and operational decisions related to the management of an enterprise in a globally competitive, diverse and dynamic environment.
You will gain a detailed understanding of the scope and significance of the basic principles which underpin Islamic economic laws and financial activities, including Islamic banking systems and the concepts of ethics, justice and fairness as guiding principles in the operation of Islamic transactions.
You will also undertake a critical analysis of Islamic financial instruments and their roles in promoting efficiency in the Islamic financial markets, and the application of critical frameworks which distinguish between permissible Islamic products and services, and conventional banking products and services.
Business Innovation Project (BIP)
Flexible Final Study Options
Salford Business School has one of the most flexible suites of postgraduate taught courses in the UK. For the final third of your studies you can choose from 4 differing pathways, all of which are designed to accommodate your career aspirations and enhance your professional practice:
- Dissertation – traditional 3 month research pathway.
- Live Project – 3 month group project activity researching a commercial project.
- Internship – 3 month opportunity to develop your skills working in partnership with an organisation.
- Placement – 6 month paid work experience implementing a commercial project.
- 3 month research project culminating in a 12-15,000 word dissertation
- Topics can be undertaken in a number of areas:
- personal interest in a topic area which supports your career aspirations;
- an academic’s research area which explores challenging developments in the supervisor’s area of expertise;
- in partnership with a company or sponsoring company;
- an entrepreneurial opportunity, particularly suitable if you wish to research your own business opportunity.
- 3 month commercial research project.
- Group presentation and executive report, coupled with an individual 8-10,000 word report.
- 1 to 3 month commercial project, undertaken full or part-time with the host company.
- Internships are often voluntary positions providing interesting project experience; some positions are paid – potentially up to 86 UNITE Projects are available in 2013-14.
- 30-40 minute commercial presentation and 10,000 word professional dissertation.
- 4 to 6 month work based project undertaken at the organisation's premises;
- Assessment consists of portfolio of work, visitor assessment, presentation and interim report, culminating in a work-related dissertation of 10,000 words;
- Placements can be undertaken in the UK or overseas;
- Students can undertake placements with their sponsor or employing organisation;
- For international students placements are 6 months maximum due to visa restrictions;
- For Home/EU students, placements can possibly be extended to 12 months;
- The salary range for placements range from £14,320 to £25,000 pro rata – the average is £19,555 pro rata.
If you are on the part-time course, you will be able to register for individual modules as part of CPD. The following example shows how the course could be taken on a part-time basis over two years:
Year 1 - Semester 1
- Accounting and Finance
Year 1 - Semester 2
- Risk, Regulation and Compliance
Year 1 - Semester 3
International Financial Management
Year 2 - Semester 1
- Islamic Financial Market, Instruments and Products
Year 2 - Semesters 2 & 3
- Business Innovation Project