Master’s in Islamic finance and banking

Program Overview

- Track: Master

- Field: Economics, Business and Management Sciences

- Division: Financial Sciences and Accounting

- Specialization: Islamic finance and banking

- Duration of training: 4 semesters (2 years)

Objectives of the Program:

This Master's program aims to address the growing demand for specialized competencies in the field of Islamic Finance and Banking, both domestically and internationally. It is designed to prepare qualified professionals who are capable of understanding and applying the principles of Islamic Sharia across various aspects of financial and banking operations. The objectives of the Master's program can be summarized as follows:

·        Developing Highly Qualified Professionals: To prepare and develop students with advanced expertise in Islamic Finance and Banking, possessing the necessary Sharia knowledge and financial skills to work in Islamic financial institutions, Sharia Supervisory Boards, Takaful (Islamic insurance) companies, and other Islamic finance entities.

·        Meeting Market Needs: To bridge the gap in the labor market by providing qualified individuals who are capable of developing innovative Islamic financial products and services, managing Sharia-compliant risks, and addressing the challenges facing the Islamic finance industry.

·        Promoting Scientific Research: To encourage scientific research in the field of Islamic Finance and Banking by producing scholarly studies and research that contribute to the development and expansion of this field.

·        Preparing for Postgraduate Studies: To provide a solid knowledge and methodological foundation for students wishing to pursue postgraduate studies in Islamic Finance and Banking, whether at the doctoral level or other specialized certifications.

·        Building Effective Partnerships: To establish strategic partnerships with Islamic financial institutions, banks, and Takaful companies to train students and prepare them for the labor market, and to develop curricula that align with industry needs.

Targeted Knowledge:

·        Fundamentals of Islamic Sharia in Financial Transactions: A comprehensive understanding of the provisions of Islamic Sharia related to financial transactions, such as Bai’ (sale), Ijara (leasing), Mudaraba (profit-sharing), Murabaha (cost-plus financing), and Musharaka (joint venture), and their impact on Islamic financial products and services.

·        Islamic Financial Products and Services: Detailed knowledge of various Islamic financial products and services, such as Sukuk (Islamic bonds), Murabaha, Ijara, Istisna’ (manufacturing finance), Takaful, Islamic investment funds, and Islamic microfinance.

·        Risk Management in Islamic Financial Institutions: Understanding of Sharia-compliant risk management methods, such as credit risk, market risk, operational risk, and Sharia risk.

·        Sharia Supervision: Knowledge of the principles of Sharia supervision in Islamic financial institutions, the importance of Sharia Supervisory Boards, and their role in ensuring institutional compliance with Sharia provisions.

·        Islamic Banking Law and Legislation: Familiarity with the legal and regulatory framework governing the operation of Islamic financial institutions.

·        Modern Financial Technologies (FinTech) in Islamic Finance: Understanding how to apply modern financial technologies to develop Islamic financial products and services, and improve efficiency and financial inclusion.

Final Project/Thesis:

The student's educational journey culminates in a thesis or final project that addresses a topic covered during the theoretical training or takes the form of a startup institution according to Law 1275.