Master of Science in Islamic Economics, Banking and Finance (MSc IEBF)

The Master of Science in Islamic Economics, Banking and Finance (MSc IEBF) program was designed to provide students with a comprehensive understanding of the field’s concepts, theories, and best practices. It also offers students the opportunity to do research on various products and services offered within Islamic financial markets.

The curriculum is divided into two modules: coursework (both theory and practical), and research methodology, which precedes the research proposal module. The coursework module equips students with the necessary methodological techniques and fundamental Islamic economic theories and principles. This training also helps students understand how to practically apply what they have learned in the global finance and banking sector.

Upon completing the research proposal module, students can submit their minor dissertation. Submission for publication in a recognized accredited journal is mandatory for successful completion.

Career paths for graduates of this program include: academicians, advisors, Islamic banking and finance professionals, Shariah auditors, Shariah finance consultants, and independent practitioners.
Successful students will be awarded the title of Master of Science in Islamic Economics, Banking and Finance (MSc IEBF) 

PROGRAM AIMS

The MSc IEBF program aims to strengthen the field of Islamic economics, banking and finance through research, and provide a foundation for Islamically sound approaches. Students are strongly encouraged to examine different practices and models employed in the area of Islamic economics, banking and finance.

Students are tasked with two main objectives. Firstly, develop an understanding of the subject material and critically assess current trends and practices in Islamic economics, banking and finance. Secondly, through their dissertation and practicals, demonstrate knowledge and understanding of Shariah and professional practices in the field.

PROGRAM LEARNING OUTCOMES 

Upon completion of the MEd students should be able to:

PLO1 demonstrate a complete and current understanding of the history of Islamic economics, banking and finance
PLO2 demonstrate a complete and current understanding of practices, trends and challenges in the area of Islamic economics, banking and finance
PLO3 demonstrate the ability to introduce and practice core theories and principles of Islamic economics, banking and finance.
PLO4 demonstrate the ability to solve certain economic and financial problems using their knowledge of Islamic economics, banking and finance.
PLO5 demonstrate skills to work in the global financial sector with additional knowledge and skills.

IOU’s VISION & MISSION

The Master of Science in Islamic Economics, Banking and Finance (MSc IEBF) program aligns with the vision and mission of IOU by:

Committing to creating diverse, scholarly communities, where students are encouraged to engage in intellectual rigor, high ethical standards and critical evaluation.

Providing facilitated access to quality higher education to all students around the world, particularly the field of Islamic economics, banking and finance

Promoting the Islamic values of peace and justice embedded in the curriculum

Contributing to the establishment and strengthening of knowledge-based communities globally through the teaching and learning activities of the program

Minimum Eligibility for Master of Science in Islamic Economics, Banking and Finance Degree Program Applicants

In order to be admitted to our accredited online Master of Science in Islamic Economics, Banking and Finance degree program, the candidates must have:

• An accredited Bachelor’s degree in Islamic Economics, Banking and Finance or a relevant Honour’s degree or a relevant postgraduate certificate or diploma with a minimum 65% marks. or,
• An accredited B.A. (in any discipline), B.Sc., B.Com., or equivalent.
• The submitted qualification should be equivalent to HEQF Level 7 or ISCED Level 6.

English Requirements

Applicants should be competent in English as a language of teaching and learning (LOTL).

Postgraduate applicants who have English as an additional/foreign language are required to achieve a minimum of IELTS 6.5 with 6.0 in each component or equivalent.

Should English be an additional/foreign language, then the applicant may be required to also write an English for Academic Purposes Placement test (EAPP) with IOU.

Please click here for more information.

Note: Admission Disclaimer

I- The Faculty Management Committee and Head of the Department reserve the right to assess, accept, or decline admission to any program, irrespective of prior graduation from IOU (International Online University). This decision is made at the discretion of the committee and department heads, taking into consideration various factors. 

The Method

IOU provides a unique learning experience for all of our students. The university also recognizes that many students may not have studied online before; it is quite different from traditional classroom-based learning. For this reason, IOU has provided demos and organized a user-friendly learning environment for those new to online education. It is vital that all IOU students be fully prepared for online learning and have the required level of English to enable them to effectively and successfully study in this environment.

IOU is comprised of students from around the globe. Our students learn through watching and listening to video and audio lectures as well as reading texts (PDF Format). Within the online study community, students may share resources, exchange ideas, discuss weekly topics, submit assignments, and take exams.

IOU is thankful to Allah for having enabled us to launch multiple online courses for students to choose from. We are dedicated to spreading authentic Islamic knowledge with a proper understanding of Allah’s true religion. Both students and professors represent a diverse group coming from both under-developed and developed countries.

Teaching and Learning

Lectures and tutorials will be delivered either via pre-recorded content or in real-time, synchronously and asynchronously. Presentations in real-time will be conducted in the university’s virtual learning environments.  

Assessments will all be conducted/submitted online. All assessments will have to be submitted on the learning management system. 

Examinations will be completed at approved examination centres globally, unless decided otherwise by the Senate. 

Academic faculty and students will engage via discussion forums and email asynchronously, and in real-time (synchronously) in virtual rooms.

Demo Course

IOU presents a demonstration course from the BAIS program to show people interested in IOU how the courses look and operate and give a real-time example of what it is like to study with IOU.

Please click here to download the BAIS Demo Course Guide to learn more.

Please click the button given below to access the demo course directly, (you may need to create and account and enrol in the course if you haven’t done so already)Demo Course

For further details and help with registration and enrollment in the BAIS or BMAIS, contact the info deks at: info@iou.edu.gm

Student Support

Students at IOU enjoy the support of dedicated full-time qualified faculty members, who are responsible for answering any questions students may have about the course.

Additionally, guest lecturers from the various fields offered by IOU and beyond will be invited from time to time, to enrich the program by providing an avenue for students to experience, firsthand, the cutting edge of academic research and professional expertise. Students will be informed of the timings and will be given ample opportunity to participate. The sessions will also be recorded and kept in the IOU archive for later viewing by those unable to watch the sessions live.

Faculty

There is a faculty for each course. The ​faculty may or may not be the actual instructor of the course. The ​faculty member, however, is able to handle all issues related to the course they are assigned to. They provide academic support and facilitate learning by:

1. Providing further clarification of materials studied in the recorded lectures.
2. Facilitating access to resources such as online libraries and additional learning materials.
3. Monitoring usage of module videos
4. Grading assignments
5. Supervising forums to ensure that they are properly utilized.

The faculty will work together with the Coordinator, Registrar and the Dean to ensure that all students receive the support they need to succeed in their studies

Student Responsibilities

Students are expected to devote at least four hours of study per week per subject. Students should read course materials, listen to the lecture, take the module test, and complete the course assignment.

1. Students should behave respectfully at all times. If a student is disrespectful to the faculty, to another student, or to the staff at the test center, he or she will be removed from the class and may be dismissed from the university, depending on the severity of the disruption.
2. All students should fully participate in the online forums.
3. All assignments should be handed in on time. They should be handed in before or at the time of exams. If, due to unforeseen circumstances, students cannot turn in an assignment on time, they need to get permission from the faculty for late submission. If a student misses an exam without informing the administration before exam week, he/she will receive a ‘failure’. It is the student’s responsibility, not the instructor’s or the faculty member’s, to attempt to make up and complete the exam within the late mid-term period.
4. Students of the Islamic Online University should pledge that all tests taken by them and that all work turned in by them are original and are solely the result of their own efforts. Any form of academic dishonesty, including cheating and plagiarism, will be recorded in the student’s permanent file. Breaches of academic integrity will be dealt with severely, as per the Islamic Online University’s policy. After the first instance of a breach of academic integrity, the student will receive a failing grade IN ALL CLASSES FOR WHICH HE/SHE IS CURRENTLY ENROLLED. After the second instance, the student will be expelled permanently from the university.
5. Note: Cheating is defined as using others’ planning or drafting to generate an essay, copying any part of another person’s homework, or collaborating on assignments that are meant to be individual efforts. Unless otherwise indicated, all assignments should be completed individually.

HOW IT WORKS OLD

THE IOU WAY OF E-LEARNING

• Both students and professors represent a diverse group coming from both under-developed and developed countries.
• The basic text(s) used for teaching the course will be provided as downloadable, printable PDF files.

THE COURSE MATERIAL CONSISTS OF:

1. Course text (PDF). The basic text(s) used for teaching the course will be provided as downloadable, printable PDF files. Supplementary reading texts will also be recommended, which students can get on their own. In the future, we plan to have an exclusive library of PDF books for our students to use as supplementary reading.
2. Recorded supplementary session conducted by the faculty members for each of the modules.

STUDY PATH OF EACH COURSE

Having thoroughly studied Module 1, the student then takes the Module 1 test. The test consists of multiple choice questions.

Each course consists of 20-30 recorded sessions. Video and audio recordings are available for the students.

The student first listens to the audio or video recording and reads the text that corresponds to Module 1.