MSc Accounting and Banking
The MSc Accounting and Banking program at Bangor University is designed to equip studen...
MSc Islamic Banking and Finance
Bangor
INTAKE: Jan & Sept
Program Overview
Bangor University, located in the UK, offers an MSc program in Islamic Banking and Finance. This program is designed to provide students with a comprehensive understanding of the principles and practices of Islamic finance and banking. It explores the unique features of Islamic financial systems, the ethical dimensions of Islamic finance, and the application of Islamic principles in the banking industry.
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Fundamental Concepts: The program begins by introducing students to the fundamental concepts and principles of Islamic finance and banking. Students gain knowledge of the basic tenets of Islamic law (Shariah) as applied to financial transactions and understand the key differences between conventional and Islamic banking systems.
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Islamic Financial Products and Services: The program explores various Islamic financial products and services, including Islamic banking operations, Islamic insurance (Takaful), Islamic capital markets, and Islamic investment funds. Students learn about the principles and structures underlying these products and their application in real-world scenarios.
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Shariah Compliance and Governance: Students delve into the principles of Shariah compliance and governance in Islamic finance. They explore the role of Shariah boards and regulatory bodies in ensuring adherence to ethical and legal standards. The program emphasizes the importance of ethical conduct and risk management in Islamic financial institutions.
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Risk Management and Financial Stability: The MSc program covers risk management techniques specific to Islamic banking and finance. Students learn about risk assessment, risk mitigation, and the management of financial stability in the context of Islamic financial institutions. They explore topics such as liquidity risk, credit risk, market risk, and operational risk.
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Research Methods in Islamic Finance: The program equips students with research skills and methodologies specific to the field of Islamic finance. They learn how to critically evaluate existing research, conduct independent research, and apply appropriate research methods to investigate Islamic finance topics. This prepares students for their dissertation or research project.
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Dissertation or Research Project: As part of the program, students undertake a dissertation or research project focusing on a specific area of Islamic banking and finance. They have the opportunity to conduct independent research, analyze data, and draw conclusions. The dissertation allows students to showcase their research skills and contribute to the body of knowledge in the field.
Location
Bangor
Score
IELTS 6.5
Tuition Fee
£ 17000
Postgraduate Entry Requirements:
- Applicants should have successfully completed a bachelor's degree or its equivalent from a recognized institution with a minimum overall score of 55% or equivalent.
- English language proficiency is required, and applicants must provide evidence of their English language skills through an approved language test.
- IELTS: A minimum overall score of 6.5 with no individual component below 6.
- PTE Academic: A minimum overall score of 55 with no individual score below 51.
Students must provide:
- academic marksheets & transcripts
- letters of recommendation
- a personal statement - SOP
- passport
- other supporting documents as required by the university.
Work experience: Some postgraduate courses may require relevant work experience in the field.
It is important to note that meeting the minimum entry requirements does not guarantee admission, as the university considers factors such as availability of places and competition for the program. Additionally, some courses may have higher entry requirements or additional selection criteria, such as interviews or portfolio submissions.
Bangor University offers a range of scholarships and financial support options to both domestic and international students. These scholarships aim to recognize and reward academic excellence, as well as support students from diverse backgrounds.
- Vice-Chancellor Scholarships: These scholarships are awarded to exceptional students who have demonstrated outstanding academic achievements. They are available for undergraduate and postgraduate students across various disciplines.
- Country-specific Scholarships: Bangor University offers scholarships specifically for students from certain countries or regions. These scholarships may have different eligibility criteria and application processes. Examples include the India Scholarships, Nigeria Scholarships, and Vietnam Scholarships.
- Bangor International Scholarships: These scholarships are available for international students pursuing undergraduate or postgraduate studies. They are based on academic merit and can significantly contribute towards tuition fees.
- Sport Scholarships: Bangor University offers scholarships for talented athletes who excel in sports. These scholarships provide financial support, training opportunities, and access to sports facilities.
- Alumni Scholarships: Bangor University offers scholarships exclusively for its alumni who wish to pursue further studies at the university. These scholarships aim to encourage ongoing education and support the university's graduates.
Graduates of the MSc Islamic Banking and Finance program from Bangor University have promising career prospects.
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Islamic Financial Institutions: Graduates can pursue careers in Islamic banks, Islamic investment firms, and other Islamic financial institutions. They can work in various roles such as Islamic finance officers, relationship managers, product development specialists, or Shariah compliance officers.
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Conventional Banks and Financial Institutions: Graduates can apply their knowledge of Islamic finance in conventional banks and financial institutions that offer Islamic financial products and services. They can work in dedicated Islamic banking divisions or departments and contribute to the development and promotion of Islamic financial offerings.
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Regulatory Bodies and Consultancies: Graduates can work for regulatory bodies and consultancies specializing in Islamic finance. They can contribute to policy-making, regulatory compliance, and advisory services related to Islamic banking and finance. They may assist in the development of frameworks and guidelines for Shariah-compliant financial practices.
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Research and Academia: Graduates can pursue research-oriented careers in academic institutions or research organizations focusing on Islamic finance. They can engage in research projects, publish scholarly articles, and contribute to the advancement of knowledge in the field. They may also teach Islamic finance courses and supervise student research.
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International Finance and Development Organizations: Graduates can find opportunities in international finance and development organizations that have a focus on Islamic finance. They can work on projects related to Islamic banking, microfinance, poverty alleviation, and sustainable development in countries with significant Muslim populations.
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Entrepreneurship and Consulting: Graduates with an entrepreneurial spirit can establish their own Islamic finance consultancy or advisory firm. They can provide specialized services to businesses and individuals seeking guidance on Islamic finance solutions. They may also identify market opportunities and develop innovative Islamic financial products.
