The programme has been developed to meet the growing interest in Shariah-compliant finance across the world. Islamic finance is a fast developing industry in the UK, and Aston Business School is leading the way with this postgraduate degree programme.
Islamic finance is currently one of the fastest-expanding sectors of the global financial market. In 2010 the actual global size of the Islamic financial industry was equal to $1 trillion (GIFR 2010).
One of the following:
As well as:
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Two professional references – at least one must be from an academic referee
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An official academic transcript of your university grades to date
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A completed application form.
For International Students:
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An official academic transcript, with an official English translation, of your university grades to date
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Students whose native language is not English will also need to satisfy our English language requirements with one of the following:
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A TOEFL score of 100 with a minimum score of 23 in writing and speaking and 20 in reading and listening (internet based)
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An overall IELTS score of 6.5 (with a minimum of 6.5 in writing and speaking and 6.0 in listening and reading)
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A PEARSON score of 61 overall with a minimum score of 61 in writing and speaking and 53 in reading and listening
Pre-sessional English language programmes are available for good applicants whose English qualification falls just short of these requirements.
Taught modules are assessed by examinations and coursework. In addition students will undertake a dissertation, a substantial piece of research on a specific issue or aspect of Islamic finance or business.
In order to help advance their careers, graduates of the MSc in Islamic Finance can expect to:
For information on sector opportunities see the Banking, Investment and Insurance overview on the Prospects website.
The MSc is also suitable for professionals in banking, finance, law and other sectors, looking to gain specialist knowledge and skills in Islamic finance. Our current students include employees at Dubai Bank, Abu Dhabi Islamic Bank, Qatar Islamic Bank London and Browne Jacobson Solicitors. Our flexible part-time and distance learning options make the course ideal for professionals wishing to work as they study.
Modules taught on this MSc will enable you to develop a wide range of technical and transferable skills and knowledge demanded by graduate employers in both Islamic and conventional banking and finance. Specialist knowledge areas developed on this programme include:
- Understanding the frameworks and features of the Islamic banking system and the financial and operational risks faced by Islamic financial institutions
- Understanding the similarities and differences between conventional and Islamic financial structures
- Structuring, managing and screening of Islamic financial products
- Proficiency in using Reuters Islamic Finance Gateway, Reuters Lipper Islamic Mutual Funds, Zawya Funds Monitor, Zawya Sukuk Monitor and Zawya Shariah Scholars databases
- Advanced understanding of the accounting and reporting framework, standards and practices of Islamic financial institutions and Shariah compliant businesses
- Evaluating the performance and governance of Islamic financial institutions
- Evaluating the ethical performance and social responsibility of Islamic financial institutions
- Learning from the practical experiences of experts in the Islamic finance industry
- Understanding of the ways in which modern corporations can access Islamic Finance
As well as setting graduates up for careers in Islamic and conventional finance, modules taught on this MSc programme will enable graduates to develop a wide range of skills suitable for other graduate careers where planning, decision-making, problem-solving and analysis are required. These skills include:
- Measuring costs, financial planning, forecasting and decision-making
- Assessing economic policy
- Interpreting accounting information using financial tools including balance sheets, profit and loss accounts and cash flow statements
- Ratio analysis and shareholding value reporting
- Analytical skills developed through the research dissertation
- Multi-cultural teamwork, negotiation and presentation skills developed through group-work
Aston Business School's outstanding student facilities include:
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A purpose-built suite which is accessible exclusively to Masters students
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24 hours access
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Free Wi-Fi connection
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Modern lecture/tutorial rooms
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Computer labs
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Lounge area
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IT equipment and packages and use of Virtual Learning Environment (VLE).
Dr Omneya Abdelsalam
BSc, MSc, PhD, FHEA
Omneya is a senior lecturer in Accounting in the Finance, Accounting & Law Group at Aston Business School and the director of Aston University’s Research Centre for Islamic Finance & Business. She is also a fellow of the UK Academy of Higher Education and a member of the "Senate" at Aston University.
She has held teaching appointments at Heriot-Watt University, Mansoura University and the American University of Sharjah. She is a member of the editorial board and ad-hoc reviewer of various academic journals and international conferences. She published various research papers in international academic journals. Two of her research papers have been ranked by Science Direct from the top 25 for more than three years.
Dr Mehmet Asutay BA, MSc, MA, PhD
Dr Mehmet Asutay teaches Islamic Economics, Business and Finance module on the MSc Islamic Finance programme. He holds a PhD in Political Economy from the University of Leicester and is currently a senior lecturer in Islamic and Middle Eastern Political Economy and Co-Director of the Islamic Finance Programme at Durham University. Before moving to Durham University, Mehmet was a Lecturer in Economics and Social Theory at the Markfield Institute of Higher Education and Coordinator of the Encyclopaedia of Islamic Economics project.
Mehmet’s research interests include Islamic economics, banking, finance and management; Middle East economies; political economy of the Middle East and Turkey; development economics; institutional economics and public sector economics. He is also the Managing Editor of the Review of Islamic Economics and is an Associate Editor of the American Journal of Islamic Social Sciences.
Professor Roszaini Haniffa BSc, MSc, PhD
Ros teaches the Islamic Accounting and Reporting module of the MSc Islamic Finance programme. She is Professor of Accounting and Finance at Hull University Business School, having previously been at Bradford University School of Management where she was Head of the Accounting and Finance group for five years. Her research interests include Islamic accounting and finance; auditing and the development of the accounting profession; accounting and business ethics; corporate governance; corporate social responsibility and sustainability; international accounting and financial accounting and reporting.
Ros sits on a number of editorial boards and had reviewed papers for many top-tier journals in accounting and business and is joint-editor of a newly launched specialist Journal of Islamic Accounting and Business Research (JIABR). Ros was included in the Muslim Women Power List 2009 by the Equality & Human Rights Commission, UK.
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