PhD in Islamic Finance (by Coursework and Dissertation)

Application Dates
Course Overview
Doctorate (PhD)
Full Time : Minimum 2 years, Maximum 4 years; Part Time : Minimum 4 years, Maximum 5 years
Study Field

Course Overview

The PhD in Islamic Finance (by Coursework and Dissertation) programme is an innovative, multidisciplinary and research based doctoral programme that imparts the required analytical and investigative skills to further expand your theoretical knowledge. Moreover, the programmes enable you to acquire a comprehensive understanding of Islamic finance, and enhance the ability to analyse and interpret developments in the rapidly growing Islamic financial services market. Thus, you will have the competency to tackle emerging challenges and opportunities in the context of industry requirements. Visionary scholars have an opportunity to learn directly from experience academicians and industry leaders while being involved in applied research and consultancy projects with businesses and institutions in the Islamic finance field.

INCEIF’s PhD programme is also designed for exceptional high calibre students, and those who are internationally renowned for their research and thought leadership. INCEIF PhD graduates are sought after for business and management consultancy roles in the industry, senior management roles in governments, in addition to academic leadership positions in reputed universities and top business schools. The programme also allows a candidate with little or no background in Islamic finance to undertake research and make meaningful contributions to academia, practice and policy.

There are 2 options to earn your PhD in Islamic Finance:
1. By Coursework and Dissertation
This is an intensive programme designed for students who require exposure to coursework before pursuing research in Islamic finance.

2. By Research
This option is for students with extensive exposure and research industry experience.

Programme Structure

PhD by Coursework and Dissertation requires completion of 12 core courses, 2 elective courses and a Dissertation.

Total Credit Hours: 80

Core Courses (34 Credit Hours)

  • Accounting for Islamic Financial Transactions
  • Economics for Islamic Finance
  • Research Methodology in Economics and Finance
  • Financial Econometrics
  • Corporate Finance
  • International Finance
  • Islamic Banking
  • Risk Management in Islamic Financial Institutions
  • Islamic Law of Contracts
  • Wealth Planning Management
  • Mathematical Methods for Economics and Finance
  • Proposal Writing
  • Seminar in Shariah
  • Seminar in Finance
  • Seminar in Economics
  • Islamic Capital Market
  • Portfolio Management
  • Takaful Operations
  • Monetary Economics
  • Islamic Law and Jurisprudence
  • Financial Modeling
  • Advanced Econometrics

Dissertation (40 Credit Hours) 

40,000 – 65,000 words count

Entry Requirements

1. Master’s degree or equivalent (with high distinction) from a recognized institution of higher learning.
2. Mathematics / Quantitative proficiency.
3. English proficiency:
 Malaysian University English Test (MUET): Band 4 and above; or
      - IELTS - band 6; or
      - TOEFL: 550 (PBT), 79 (IBT) and above;
      - Exemption:
            - Candidates from native English speaking countries
            - Candidates with academic qualifications from institutions using English as the full medium of instruction

Programme Fees

Application Deadline

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

September 2021 Semester:
International: 30 May 2021

Intake Month

January & September

Malaysian: 13 August 2021