Durham University logo
  • Tuition Fee:
  • Local: $ 13.7k
  • Foreign: $ 28.2k
  • Languages of instruction:
  • English

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    About

    This one-year full-time programme is designed to provide rigorous training at the frontier of research, giving you the opportunity to develop the advanced analytical and technical skills that are highly sought after by global employers.

    MSc Islamic Finance is a specialised taught programme, involving quantitative methods in the analysis of Islamic and conventional finance by making reference to their technical particularities.

    The programme consists of a set of core and elective modules, culminating in a practice-based business project or a research-based dissertation.

    International opportunities

    We’re proud of our strong international connections. Helping you get an inside perspective on global business is a key part of the programme. That’s why you’ll have the opportunity to go on the optional International Study Tour to a European destination in March/April. This self-funded, one-week programme is a great way to immerse yourself in the country’s business environment, providing the chance to make new contacts and helping you stand out in the competitive jobs market.

    Career Support

    Whatever your specialist management interests, you’ll find our careers team is one of the most useful resources to support you on your way to the top. Now more than ever, it’s the skills you’re able to demonstrate in addition to your academic abilities that will make you shine in a fiercely competitive jobs market.

    That’s why our facilities and services are designed to complement your course and help you develop essential professional and practical skills – from CV writing and interview techniques to time management and communication.

    Develop your career

    We work in partnership with the Careers, Employability and Enterprise Centre to connect you with events, organisations or individuals to help kick-start your career. You can also take advantage of one-to-one appointments with a specialist Masters Careers Advisor to help you with specific issues, from finding a route into your career to applying for your dream role.

    Sector specific presentations

    These Career Insight sessions are delivered by specialists from within the industry. Subjects range from ‘Banking in Challenging Times’ to ‘Life in the Bio Pharmaceutical Industry’.

    Leadership development

    Our Leading Edge Programme has been designed alongside our core academic programme to help you develop the particular interpersonal skills employers in your chosen field are looking for. Focusing on the demands of global recruiters, and feedback from alumni, the programme has been developed in partnership with programme directors and leading training partners.

    Throughout the year, you will be able to take advantage of a wide range of workshops and events, both internal and external, to further develop your skills and widen your networks. Some examples of previous workshops include ‘Workplace Survival Skills’, ‘Building Reputation’ and ‘Emotional Intelligence for Leadership Success.’ Business School events include the Durham Speaker Series and the Leading Edge conference.

    International opportunities

    We’re proud of our strong international connections. Helping you get an inside perspective on global business is a key part of the programme. That’s why you’ll have the opportunity to go on the optional International Study Tour to a European destination in March/April. This self-funded, one-week programme is a great way to immerse yourself in the country’s business environment, providing the chance to make new contacts and helping you stand out in the competitive jobs market.

    If you are interested in carrying out research or a business project in an international location for your dissertation, we may also be able to connect you with our international partner institutions.

    Online resources

    Through the Leading Edge Programme you will have access to a huge range of resources. Our many online resources include global job boards and international recruiter databases, newsrooms, video library and an annual career webinar series.

    Alumni career support

    You can continue to make the most of our specialist career development advice after you graduate. From coaching with our Masters Careers Advisors, to workshops in London, India or China. You’ll also be able to attend online webinars and access the online career resources.

    Support for International Students

    If you’re an international student interested in working in the UK after your studies, the careers team works closely with Durham University's Student Immigration & Financial Support Office to provide you with information related to immigration. Their advisers are dedicated to helping our students understand the requirements and restrictions of their visas during their studies and can provide limited advice on post-study visa requirements.

     

    Content

    Core and elective modules

    • Islamic Banking and Finance
    • Islamic Law and Financial Transactions
    • Islamic Political Economy
    • Advanced Financial Theory
    • Econometric Methods
    • Islamic Capital Markets
    • Risk Management Issues in Islamic Finance.

    You will then choose one elective modules. The list of modules may vary from year to year, but has typically included Behavioural Finance and Economics, Derivative Markets, Financial Management, International Finance, Multinational Finance, and Portfolio Management.

    Dissertation/Business Project

    In the third term, you will complete a 12,000 word dissertation which could be a specific project with an organisation. Supervised by a faculty member with relevant experience, you will investigate in greater detail a subject that you have already studied as part of your programme. A major piece of independent work, the dissertation will enable you to exercise critical judgement and illustrate how economic analysis has relevance to financial decision taking.

    International Opportunities

    • International Study Tour
      We organise an optional International Study Tour to a European destination, typically Switzerland. This intensive programme takes place over several days, normally in March/April, and offers you a great opportunity to get an ‘inside perspective’ on international business, and to network with key staff within organisations.
    • International Conferences 
      We organise and sponsor international conferences on Islamic economics and finance in collaboration with other leading global academic institutions such as the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank; International Shari’ah Research Academy (ISRA), Malaysia; and Kyoto University, Japan.

    Guest Speakers


    As part of your programme, you have the opportunity to enjoy presentations by academics and practitioners within your chosen area of interest. Past speakers have included leading academics and professional financiers and bankers, providing an ideal opportunity to gain practical knowledge and progressive insight in Islamic finance related areas.


    UK requirements for international applications

    Universities in the United Kingdom use a centralized system of undergraduate application: University and College Admissions Service (UCAS). It is used by both domestic and international students. Students have to register on the UCAS website before applying to the university. They will find all the necessary information about the application process on this website. Some graduate courses also require registration on this website, but in most cases students have to apply directly to the university. Some universities also accept undergraduate application through Common App (the information about it could be found on universities' websites).

    Both undergraduate and graduate students may receive three types of responses from the university. The first one, “unconditional offer” means that you already reached all requirements and may be admitted to the university. The second one, “conditional offer” makes your admission possible if you fulfill some criteria – for example, have good grades on final exams. The third one, “unsuccessful application” means that you, unfortunately, could not be admitted to the university of you choice.

    All universities require personal statement, which should include the reasons to study in the UK and the information about personal and professional goals of the student and a transcript, which includes grades received in high school or in the previous university.


    program_requirements

    Subject requirements, level and grade

    In addition to satisfying the University’s general entry requirements, please note:

     

    • You will need the equivalent of a UK first or upper second class honours degree. 
    • You will need to complete an online application form.
    • To support your online application form, you will need to provide the following documents.
    • Two academic references using our standard form Official transcript of marksCopy of degree certificate (if available)
    • Copy of English test results (if available).

    You can either upload your supporting documents with your online application or email or fax them to the Postgraduate Admissions Office using the contact details below.

    Preferred Tests:

    a. IELTS: 6.5 (no component under 6.0)

    b. TOEFL iBT (internet based test): 92 (no component under 23)

    c. Cambridge Proficiency (CPE): Grade C

    d. Cambridge Advanced (CAE): Grade A

    e. Cambridge IGCSE First Language English at Grade C or above [not normally acceptable for students who require a Tier 4 student visa]

    f. Cambridge IGCSE English as a Second Language at Grade B or above [not normally acceptable for students who require a Tier 4 student visa]

    g. GCSE English Language at grade C or above

    h. Pearson Test of English (overall score 62 (with no score less than 56 in each component))

    Alternative accepted tests when those listed in a.-h. above are unavailable to the applicant (if the applicant requires a Tier 4 visa to study, advice on the suitability of these alternatives must be sought from the Student Recruitment and Admissions Office):


    i. Certificate of Attainment (Edexcel)

    j. GCE A-levels (AQA, CIE, Edexcel, CCEA, OCR, WJEC) at grade C or above in an essay based, humanities or social science subject from the following list: History, Philosophy, Government and Politics, English Language, English Literature, Geography, Religious Studies, Economics, Business Studies, Law and Sociology. Modern or Classical Languages are not acceptable in meeting this requirement.

    k. International Baccalaureate with a minimum of grade 5 in Standard Level English or a minimum of grade 5 if taken at Higher Level.

    l. NEAB (JMB) Test in English (Overseas)

    m. Singapore Integrated Programme (SIPCAL) at grade C or above in an essay based, humanities or social science subject from the following list: History, Philosophy, Government and Politics, English Language, English Literature, Geography, Religious Studies, Economics, Business Studies, Law and Sociology. Modern or Classical Languages are not acceptable in meeting this requirement.

    n. Singapore Polytechnic Diploma and Advanced Diplomas at GPA 3.0 or above

    o. WAEC and NECO Grade B3 or above from Nigeria and Ghana

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