MBA Programs in Islamic Finance

Compare 3 MBA Programs in Islamic Finance

MBA Islamic Finance

Islam is the largest growing religion in the world, and conventional banking practices are incompatible with the beliefs of its followers. Nearly one-fifth of the world’s population need the services of those with an MBA in Islamic Finance.


What is an MBA in Islamic Finance? It is a Master of Business Administration degree that deals specifically with the banking and financial issues that are important to Muslims. As globalization brings the followers of Islam and Western business leaders together, demand for this degree has steadily increased. Students are taught the advanced business and management techniques necessary to become leaders but with a focus on providing financial solutions for Islamic companies. Topics of study include sharia practices and how they differ from conventional banking methods.


The reasoning and analytical capabilities of program participants are enhanced along with their leadership, research and communication skills. Graduates are able to create financial strategies for companies that value the traditions of Islam. They also understand how Islamic banking products can compete in a globalized economy. While speaking Arabic may not be required, a familiarity with common Arabic financial terms is developed to facilitate interaction with non-Western clients.


The cost of these programs will vary depending on which university is attended. The admissions departments of institutions under consideration can provide detailed information about the costs of tuition and other fees.


After completing a degree, graduates are ready for senior management level positions in banks, insurance companies, and investment firms that deal directly with Islamic countries and corporations. Some students may find work abroad, and many are hired directly by international firms that specialize in Islamic markets. Working for an Islamic bank, a graduate may be employed as a product development manager or as a banking adviser. Some regulatory agencies also hire these graduates to oversee compliance with Islamic practices.


It is important to research options as soon as possible. Many students prefer the traditional classroom setting, but online coursework offers excellent educational opportunities as well. For working professionals and international students, online universities provide degree programs that fit within busy schedules and geographic limitations. Search for your program below and contact directly the admission office of the school of your choice by filling in the lead form.

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MBA in Financial Management

Ajman University
Campus Full time Part time 2 - 4 years September 2017 United Arab Emirates Ajman + 1 more

The AUST MBA program seeks to satisfy the quality assurance standards set by world-class business programs accreditation organizations such as AACSB and the Association of MBAs. [+]

MBA Programs in Islamic Finance. Overview Distinguishing Features The AUST MBA program seeks to satisfy the quality assurance standards set by world-class business programs accreditation organizations such as AACSB and the Association of MBAs. Program Objectives To train students in the theoretical and applied aspects of the core business functions such as accounting, marketing, finance, information systems and operations management. To train students thoroughly in one of the subject area specializations such as Marketing, Financial Management , and Human Resource Management. To ensure, with the help of course offering and case studies, that the students communicate effectively, and provide leadership ability, and team-building skills. To train students to manage ethical issues and multicultural diversity. To equip students with the techniques and strategic tools to recognize, comprehend and analyze the various dimensions of business environment. To promote scholarly research for finding solutions for real-life business problems for the benefit of the academia, business organizations, community and the nation. Curriculum Core Courses (21 Credits) 471004 Operations Management 471005 Business Research Methods 471006 International Business 472002 Financial Accounting 472003 Corporate Finance 473001 Marketing Management 474001 Human Resource Management Track Options (12 Credits) Financial Management 472004 Corporate Finance & Policy 472005 Islamic Finance 472006 Working Capital Management 472007 International Finance 472008 Project Finance Capstone Course (3 credit hours) 471007 Strategic Management Learning Resources Students have access to all the learning resources offered by AUST – library, computer labs, Internet and web platforms, online international business game competitions with students of other eminent institutions, databases for academic journals, and resources of collaborating institutions. The MBA courses ensure an optimum classroom learning environment to achieve the program’s objectives. Knowledge, comprehension, application, analysis, synthesis and evaluation are emphasized in the design and delivery of courses. The system of instruction employed in the MBA program provides a new learning approach that is student-centered and involves discussions, participation, and shared responsibility for learning, co-operation, case analysis, examinations and expert role responsibilities. The use of technology, simulation and the synthesis of expert knowledge applicable to business organizations in the new economic environment will be the key focus points designed to enhance and ensure the program’s academic quality. Attendance Policy Students are expected to attend and fully participate in all classes. A minimum of 75 percent attendance will be required in each course registered. Academic Standing for Graduate Students If the student’s GPA is less than 3.0 after the second semester, he/she will be placed on probation. If the student does not raise his/her CGPA to 3.0 in the following semester, he/she will be placed on a second probation. If the student fails to raise his/her GPA to 3.0 in the following semester, the student will be dismissed from the program. The Graduate program coordinator may advise an academically warned student to repeat one or more courses to increase his/her chances to raise his/her CGPA to 3.0. Time Allowed to Complete the MBA Program The study time for the MBA program is normally two years or four semesters. However, the maximum time allowed to complete the program is 4 years or 8 regular semesters Study Load for Graduate Students The study load for a full-time MBA student may rise up to four courses (12 credit hours) per semester depending on his / her CGPA. Graduation Requirements A student will be awarded the degree of Master of Business Administration upon meeting the following requirements: Completion of the required MBA courses : 12 courses of 3 credit hours each Achievement of a CGPA of not less than 3.0 Admission Requirements In accordance with the University requirements for graduate degrees, a candidate to be admitted into the MBA program must fulfill the following requirements: Hold a Bachelor's degree in Business Administration or a related field from a UAE-recognized university with a minimum cumulative GPA of 3.0/4.0. Students enrolled into the MBA program without prior course work in the business areas are required to complete the following five foundation courses and obtain an average “B” grade to be admitted to the program. Foundation Courses: 410808 Organizational Theory & Design 102211 Statistics for Business 400393 Microeconomics 400292 Principles of Accounting I 400396 Fundamentals of Finance Students with a GPA below 3 may be admitted conditionally. A minimum score of 550 on paper based TOEFL or 6 on IELTS (or its equivalent). An Interview with the MBA Admission Committee. Transfer Students from Accredited Institutions Graduate students from accredited institutions of higher education may apply for admission in an AUST MBA program. Documents Required for Admission to a Graduate Program Completed Application Form UAE Secondary School Certificate, or its equivalent Certified copy of the Bachelors degree certificate or its equivalent, Certified copy of the Grade Transcript Certificate of proficiency in English Language, Photocopy of valid Passport A copy of UAE ID Card for UAE residents Health Certificate, issued by a University doctor Certificate of good conduct, issued by an official body Six recent passport-size photographs 2 Reference Letters A written commitment signed by the applicant that he/she will observe university rules and regulations Admission Validity Admission to the MBA program is valid for at most two semesters. If an admitted student does not join the program within this period, the admission offer will be cancelled. [-]


Suleman Dawood School of Business
Campus Full time 2 years August 2017 Pakistan Lahore

The Masters of Business Administration (MBA) programme at the Suleman Dawood School of Business (SDSB) at LUMS provides an intense and demanding academic experience, involving two years of full-time study. [+]

Why LUMS MBA? "I joined LUMS in summer of 1991 at the old campus. For our summer orientation among other things, we were introduced to computers and given two floppies each! Coming from a background of traditional classrooms, the case method of teaching felt intimidating. I was fortunate to have been taught by the founding faculty of LUMS, with less than 100 students on the campus. I made lifelong friendships during my time at LUMS. While WAC was a back breaker the lure of Halwa Puri breakfast kept us going, not to forget the midnight basketball matches. Would not mind doing it all over again!" Aali Shafi MBA 1993, Executive Vice President & Business Head, MCB Bank Ltd "Being an entrepreneur, I have experienced the support of the LUMS network first hand. It’s great to have connections and friends in nearly every company in Pakistan. LUMS alumni are always very supportive and you can easily get a chance to pitch your products as an entrepreneur." Sharjeel Minhas MBA 2012, Entrepreneur, Emirates Security Services, Agro Industries "We do a lot of Harvard cases during the MBA and since most of the Harvard students go on to establish start-ups, it is inspiring for us. We feel that after doing MBA from LUMS, we have the necessary skills to start a business and make it successful." Hashim Akbar MBA 2015 "The Unique Selling Point of the LUMS MBA programme is the resources including students, faculty and guest speakers who will make you realise how many interesting career options you can create in both Pakistan and abroad. I think the kind of exposure it gives you by nature of how well entrenched it is in regional industry, government and academia makes it unique". Jazib Zahir MBA 2009, COO, Tintash (Pvt.) Ltd. Overview The Masters of Business Administration (MBA) programme at the Suleman Dawood School of Business (SDSB) at LUMS provides an intense and demanding academic experience, involving two years of full-time study. The programme aims at developing global business leaders - individuals who can provide leadership at any level, in an increasingly global economy. As a general management programme, the curriculum introduces students to the underlying disciplines of management, and provides graduates the flexibility to pursue successful careers in a variety of industries, and across geographical and functional boundaries The primary teaching methodology is the case method. During the two years at LUMS, students work on over 500 cases which develops in them the ability to make decisions in a broad range of “real-world” situations. The case method encourages active learning and student participation. It develops a remarkable ability to analyse and apply theoretical frameworks, to debate and develop arguments, and to make quick decisions in challenging, uncertain situations. Indeed, LUMS MBA graduates are known for their capacity for sustained hard work, for working under pressure and meeting deadlines, for excellent interpersonal and communication skills, and for teamwork; skills which are critical for managers in today’s global economy. Structure MBA Cycle The SDSB MBA is a two-year programme based on a series of core and elective courses. SOP The SOP brings together students from diverse academic backgrounds and prepares them to deal with the challenges of the rigorous MBA programme. The SOP is offered in August, prior to the official commencement of classes. It aims at easing the transitional stage of students into the regular MBA by providing fundamental skill enhancement modules in communication, business mathematics, accounting, computer applications and statistics, thus bringing all the students from different backgrounds to one level. Year 1 In year I, all students are expected to complete core courses that are designed to give concepts that provide the backbone of general management education. Marketing Management Organisational Behavior Financial Reporting and Analysis Critical Thinking and Managerial Communication Statistical Analysis for Management Decision Modeling for Managers Operations Management Financial Management Managerial Economics Managerial Accounting and Control Systems Leadership and Social Responsibility Business Development and Economy Business Integration and Innovation Islamic Ethics Summer Internship Between the first and the second year of the MBA programme, students must undertake a project based summer internship of at least six weeks. The mandatory internship helps students to apply classroom knowledge to a practical environment, the amalgamation adding further to the learning experience. Through the internship, students gain valuable management experience early on in their careers and identify their long term career goals. Internship placements are aided by the Placement Office at SDSB. Year II In year II, the students can select from a wide range of electives offered in multiple disciplines. Students can choose courses focusing on their interests, creating a mix of topics to support their professional goals. Finance Investments Economic Environment and Business Risk Management Management of Financial Institutions Islamic Banking Entrepreneurial Finance Corporate Finance International Finance OB/HR Negotiation Skills Corporate Governance Business Law Organizational Power and Politics Business Government Relations Strategy and Management in Emerging Economies Entrepreneurship-Developing and Sustaining a New Venture Agribusiness Management Human Resource Management Leading and Managing Change Family Business Marketing Sales Force Management Consumer Behavior and Market Research Business to Business Brand Management Integrated Marketing Communications Digital Marketing Channel Management IT/Operations Supply Chain and Retail Management Project Management Operations Strategy Management of Technology and Innovation Business Intelligence MBA Project The project is an excellent application of what is learnt throughout the programme. It is a challenging assignment, combining decision making ability, teamwork, working under pressure and an integrated approach towards management. Admission Criteria Minimum Eligibility Criteria for application submission Applicants must meet the minimum eligibility criteria in order to be considered for admission to the Graduate Programme. Meeting this criteria does not guarantee admission to the Graduate program. All applicants to LUMS, regardless of citizenship, are held to the same admissions standards, and evaluated on the same admissions criteria. Admission to the Programme is based entirely on merit. The basic policy of the Admissions Committee of the Suleman Dawood School of Business is to select those men and women whose intellectual capacity, managerial potential and personal characteristics best qualify them to pursue careers in management. Applicants will be assessed on the following criteria: Minimum of sixteen years of education leading to a Masters or Bachelor's* degree from a university recognized by the Higher Education Commission (HEC), Pakistan. Performance in the GMAT/GRE (no other admission test scores are valid) Work experience (preferred but not compulsory) Two letters of recommendation Interview performance * Candidates holding only a bachelors degree of less than four years’ duration will be required to produce an equivalence certificate of completion of 16 years of education issued by the Higher Education Commission (HEC), Pakistan. Decisions on admission are made after careful evaluation of all applications. Evaluation for interview call is carried out based on a combination of factors such as academic track record, performance in GMAT/GRE, and work experience (if available). The Admissions Office will review applications to ensure requirements are being met. Shortlisted candidates will be called in for an interview, after which the final decision will be taken. Admission Test for MBA Applicants are required to take Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE) in order to be considered for admission. Only GMAT/GRE scores are valid and, hence, applicants with previous LMAT scores need to take the GMAT/GRE. GMAT/GRE is offered as a computer adaptive test worldwide. Apart from official test scores that LUMS will require directly from Educational Testing Service (ETS), USA, and applicants must submit or mail a copy of the unofficial GMAT/GRE scores as soon as they take the test. The LUMS code for receiving GMAT/GRE scores from ETS is 0679. For further details on GMAT and GRE, please log on to and respectively Note: GMAT/GRE taken more than five years before the admission deadline will not be considered valid. If applicant has taken more than one test, the best score will be considered for application evaluation Availability of GMAT/GRE score will be mandatory for submission of online admission application Applicants who are admitted to, and join, the MBA programme will get a refund of one GMAT/GRE registration fee. Merit Scholarships and Financial Assistance Multiple scholarships and assistance ships available covering partial to full tuition fee expenses for bright and deserving students. Merit scholarships covering 50% of tuition fee for admitted students based upon University merit evaluation. Merit based scholarships covering 50% of tuition fee for admitted students scoring 700 or higher GMAT (or GRE equivalent) score. Over 20 assistance ships* covering 50-100% of tuition fee MCB loan facility * LUMS interest free loans Work Experience Preference is given to applicants with prior work experience. Evaluation is based on the quantity and quality of the full-time work experience, and Candidates are encouraged to acquire work experience of between 1–2 years before applying to the LUMS MBA Programme. This requirement, however, is not mandatory for admission to the MBA Programme. Interview Performance A merit ranking for interview short listing is established on academic performance, work experience (if any) and GMAT/GRE scores of the candidates. Only short-listed candidates are called for interviews. [-]

MBA Islamic Banking

International Study Experts
Campus Full time September 2017 United Arab Emirates Dubai

The Islamic Banking concentration will provide you with a detailed understanding of Islamic financial operations, financial markets, laws and regulations, institutions, and financial products. The program examines Shari’ah as the framework of Islamic law, and how it shapes practices in the banking and financial system, and provides and in-depth understanding of banking and financial practices based on... [+]

MBA Programs in Islamic Finance. The Islamic Banking concentration will provide you with a detailed understanding of Islamic financial operations, financial markets, laws and regulations, institutions, and financial products. The program examines Shari’ah as the framework of Islamic law, and how it shapes practices in the banking and financial system, and provides and in-depth understanding of banking and financial practices based on the Islamic transaction principles of Fiqh Al Muamalat. Following the international Islamic accounting and audit framework, the program teaches the fundamental principles and standard practices followed in the Islamic banking and finance industry. We offer an education based on the Canadian curriculum, giving us internationally recognized quality and credibility. As a portal to Canadian Higher Education, we offer many unique options for students wishing to study or research in Canada. All of our programs are accredited by the UAE Ministry of Higher Education and Scientific Research (MOHESR). We have a convenient downtown location with state of the art academic and recreational facilities. We offer flexible schedules ‒ evening and weekend classes are available for undergraduate and graduate programs. We have a truly multicultural learning environment, with students from 100 nationalities. Student visa is provided to full time students. Start Dates Fall, Spring and Summer For more information on the programs and the fees kindly fill out the inquiry form and we will get back to you as soon as possible. [-]