Master of Science in Islamic Finance

Application Dates
Course Overview
Masters (Coursework)
Tuition Fees
Malaysian Students: RM 30,370
Kuala Lumpur, Malaysia
Full Time: Min 2 years, Max 3 years; Part Time: Min 2 years, Max 4 years
Study Field

Course Overview

When harnessed by the brightest minds, knowledge fuels innovation and progress.

With the MSc programme, you can use the knowledge gained to advance your career while also placing yourself among top innovators, fostering progressive developments in the industry, and around the world. Designed by renowned academicians and industry leaders from both conventional and Islamic finance, this programme allows you to balance your personal and professional commitments, while taking your career to new levels.

The MSc imparts thorough knowledge in the key areas of Islamic finance, Islamic economics and Shariah from both theoretical and applied aspects. Successful completion of the programme ensures that you would have acquired a comprehensive understanding of the economic, financial and legal environment in which providers of Islamic financial services operate. In addition, the programme sought to mould leaders equipped with expertise in both conventional and Islamic finance.

Programme Structure

MSc in Islamic Finance requires completion of 9 core courses, 3 elective courses and a Project Paper.

Total Credit Hours: 42

Core Courses (27 Credit Hours) 

  • Corporate Finance
  • Economics for Islamic Finance
  • Islamic Banking
  • Islamic Capital Market
  • Islamic Jurisprudence and Law
  • Islamic Law of Contracts
  • Research Methodology in Economics and Finance
  • Strategic Planning and Decision Making
  • Action Based Learning (ABL)

Electives (9 Credit Hours), Choose Any 3

  • Portfolio Management
  • Mathematical Methods for Economics and Finance
  • Monetary Economics
  • Financial Econometrics
  • Risk Management in Islamic Financial Institutions
  • International Finance
  • Accounting for Islamic Financial Transactions
  • Takaful Operations
  • Advance Econometrics
  • Financial Modeling
  • Islamic Wealth Planning Management 

Project Paper (6 Credit Hours) 

  • 10,000 – 15,000 words


Specialisation 1: Capital Market, Choose any 3

  • Portfolio Management
  • International Finance
  • Financial Econometrics
  • Risk Management in Islamic Financial Institutions

Specialisation 2: Banking, Choose any 3

  • Risk Management in Islamic Financial Institutions
  • Accounting for Islamic Financial Transaction
  • International Finance
  • Monetary Economics

Action Based Learning (ABL)

ABL provides an innovative approach to learning by setting practical tasks and activities for students to complete in a real workplace. This will provide students with the opportunity to translate their academic-based knowledge into action by solving real business issues or developing new solutions for the industry.

List of Organisations Involved In ABL Projects

  • IAP Sdn Bhd
  • OCBC Al Amin Berhad
  • Malaysian Takaful Association
  • Bank Muamalat Indonesia
  • EcoKnights
  • Ethis Ventures Sdn Bhd
  • AmMetLife Takaful Berhad
  • QSR Brands (M) Holdings Berhad
  • Etiqa Takaful
  • Lembaga Zakat Negeri Kedah
  • Malaysian Takaful Association
  • PruBSN Takaful
  • United Overseas Bank (Malaysia) Berhad

Entry Requirements

1) Bachelor’s degree from a recognised institution of higher learning with at least CGPA 2.50 out of 4.00;

2) Candidates with CGPA of below 2.5 but above 2.0 may be considered subject to additional internal assessments;

3) Admission via Accreditation of Prior Experiential Learning (APEL)*

  • Malaysian citizen aged 30 years and above; and
  • Holding Diploma / STPM / Matriculation / A-level or equivalent; and
  • Working and learning experience can be accredited; and
  • APEL assessment.

4) English proficiency:

  • Malaysian University English Test (MUET): Band 4 and above; or
  • IELTS - band 6; or
  • TOEFL: 550 (PBT), 79 (IBT) and above; or


  • Candidates from native English speaking countries
  • Candidates with academic qualifications from institutions using English as the full medium of instruction

* Terms and condition apply.

Application Deadline

Face-to-face (currently conducted online until further update on COVID-19 status)

September 2020 Semester:

International: 7 August 2020

Malaysian/Permanent Resident: 21 August 2020

January 2021 Semester:

International: 30 October 2020

Malaysian/Permanent Resident: 31 December 2020

Intake Month

Jan, June & Sept