Masters in Islamic Finance Practice

Application Dates
Course Overview
Masters (Coursework)
Tuition Fees
Malaysian Students: RM 27,270
Kuala Lumpur, Malaysia
Full Time: Min 1yr, Max 2 yrs; Part Time: Min 1 ½ yrs, Max 4 yrs
Study Field

Course Overview

Designed for working professionals, our comprehensive MIFP programme takes you beyond Islamic finance, imparting knowledge and instilling values, as you prepare to join the industry's top brass.

The MIFP programme is a postgraduate course aimed at producing industry practitioners with global insight, holistic knowledge and cutting-edge expertise in Islamic finance. It is accredited by the Malaysian Qualifications Agency (MQA), and is developed by renowned academicians and experts from both conventional and Shariah financial fields, ensuring that students graduate with knowledge of both disciplines.

The course modules cover a wide range of critical topics ranging from wealth management, banking and investment to financial services, ethics and governance. Students will obtain comprehensive and practical understanding of Islamic economics, finance and Shariah as well as the environment in which Islamic finance players operate.

Programme Structure

MIFP requires completion of 12 core courses, 1 elective course and a Practice Paper.

Total Credit Hours: 42

Core Courses (36 Credit Hours)

  • Accounting in Islamic Finance
  • Risk Management for Islamic Financial Institution
  • Islamic Banking Practices
  • Economics for Islamic Finance
  • Islamic Capital Markets
  • Islamic Insurance
  • Shariah Aspects of Business and Finance
  • Shariah Rules and Issues
  • Quantitative Methods
  • Ethics & Governance
  • Strategic Planning and Decision Making
  • Action Based Learning (ABL)

Elective (3 Credit Hours), Choose 1

  • Wealth Planning Management
  • Commercial Law and Legal Documentation
  • Shariah Audit and Compliance
  • Financial Services Marketing

Practice Paper (3 Credit Hours)

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

Benefits of On Campus Study

The Malaysian Advantage

Experience Islamic Finance in action in the cradle of modern Islamic Finance where

strong regulatory support has resulted in a robust industry.

Network With Industry Experts

In addition to attending regular classes and tutorials, students will get the opportunity to interact with seasoned leaders during talks where invited industry speakers share on the practical aspects of Islamic Finance.

Entry Requirements

1) Bachelor's degree in Muamalat and recognized Islamic Finance or equivalent obtaining at least CGPA 2.50 out of 4.00;

2) Candidates with CGPA of below 2.5 but above 2.0, with a Bachelor degree from other fields, or Diploma / STPM / Matriculation / A-level holder or equivalent, 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