Islamic Banking and Finance MA

Overview

Course facts

  • Name: Islamic Banking and Finance
  • Qualification: MA
  • Duration: MA: 1 year full-time; Diploma: 30 weeks full-tim. This programme offers both January and September start.

This degree programme provides the opportunity to follow the prestigious CFA (Chartered Financial Analyst) specialist pathway and acquire the skills to complete the CFA Level 1 examination (for both September-intake and January-intake students). Click here for more information.

Over the past two or three decades or so, Islamic banking and finance has emerged as another viable way of financial intermediation. It has gained credibility and has spread worldwide and is the preferred way of banking for one fifth of the world’s population. This taught MA offers an opportunity to study the structure of the Islamic banking and finance industry, including its theoretical foundations, products, performance, Islamic financial instruments and risk management issues. These and other topics will be studied within the wider context of the banking and finance industry worldwide. There is also an MSc version of this MA programme, and whilst the MSc is more suitable for candidates with some previous background in mathematics, statistics or econometrics, this MA is more suitable for candidates who prefer a less quantitative approach to their studies.

Course Structure

January intake: Taught modules are undertaken in the period of January to June and September to January and will involve the study of 120 credits. The dissertation (or equivalent) is valued at 60 credits and is undertaken during the period of June to September.

September intake: Taught modules are undertaken in the period of September to June and will involve the study of 120 credits. The dissertation (or equivalent) is valued at 60 credits and is undertaken during the period of June to September.

Course content is for guidance purposes only and may be subject to change.

Course Content

Compulsory modules:

Research Methods: This module develops knowledge of intermediate and advanced research methods, and provides a basis in research methodology for those who may eventually wish to pursue research degrees. 

International Financial Markets: This module provides an overview of financial instruments in a multi-currency world, taking account of insights from portfolio theory concerning the relationship between risk and return, the diversification of risk, and the pricing of assets. 

Islamic Finance: This module provides an insight into topical issues relating to Islamic financial instruments and related risk management issues. The first part of the module examines issues relating to financial contracting, instruments and various intermediation issues. The second part focuses on the role of the capital market in providing Islamic financing, and highlights financial engineering and risk management features of this type of business. 

Islamic Banking: This module provides an insight into the key features of Islamic banking business. The first part of the course outlines the theoretical foundations and development of Islamic banking practices. In particular, the main characteristics of various types of Islamic banking products are discussed. The second part of the course examines the operational features of Islamic banks, focusing on their performance and how they compete with conventional interest-based banks. The final part of the course outlines contemporary challenges to Islamic banking business. 

International Banking: This module examines the origins of international banking, the activities of international banks, the markets in which they participate, and the sources of risk.  You will investigate the determinants of the efficiency of international banks, and evaluate the implications for banks’ strategic decision-making.

Optional modules (choose 3):

Islamic Accounting and Financial Reporting: This module develops a critical awareness of theoretical and practical approaches to Islamic accounting and financial reporting. Islamic accounting standards are compared with IFRS, and the content and impact of academic research in this area is examined. 

Corporate Risk Management: This module provides an analysis of pure risk and its management.

Bank Financial Management: This module provides a grounding in the nature, strategic context and managerial functions of financial management in banks and other financial services firms. Three key themes are: identification and management of the trade-off between risk and return; improvement of a bank’s value using market models; and external market-based tests of bank performance. 

Investment Strategy and Portfolio Management: This module evaluates the development of investment strategies for bonds, equities and derivatives that are designed to achieve optimal risk-return outcomes, and examines the measurement and evaluation of the performance of a portfolio of investments. 

Islamic Insurance: This module analyses the nature and principles of Islamic insurance, and examines the operational modes and practice of Islamic insurance. The structure of Islamic insurance markets is described, and constraints and opportunities are highlighted.

Financial Stability: This module offers an introduction to financial stability, referring to theories of financial crises and empirical evidence. It aims to establish the role played by central banks in achieving and maintaining financial stability, and it also considers the effect of industrial organisation of banking systems on financial stability.

Merger and Acquisition: This module provides an analysis of incentives and outcomes associated with merger and acquisition deals. It covers the development and execution of an acquisition strategy, the valuation of the target, the conduct of the negotiation, and the implementation of the post-merger integration plan.

Modules for the current academic year

Module listings are for guide purposes only and are subject to change. Find out what our students are currently studying on the Islamic Banking and Finance Modules page.

Entry Requirements

Entry to the MA/Diploma in Islamic Banking and Finance programme requires a 2(ii) undergraduate degree in a relevant subject, e.g. economics, finance, accounting, management from a university, or a similar qualification from any other institution. Alternatively, possession of a suitable professional qualification and relevant practical experience may also be accepted. In general, however, applicants are judged on their individual merits and age, work experience and other factors are also considered.Bangor University also offers International Incorporated Masters Degrees for International students whose academic credentials are different from those outlined above. The first year is studied at the Bangor International College , an embedded College on our University campus and delivered by Oxford International Education Group.

If your native language is not English, you must provide satisfactory evidence that you have an adequate knowledge and understanding of written and spoken English:

  • IELTS: 6.0 (with no element below 5.5)
  • Pearson PTE: a score of 56 (with no element lower than 51)
  • Cambridge English Test – Advanced: 169 (with no element lower than 162)

It may be necessary for applicants falling short of this minimum standard to attend an intensive English Language course before registering for the academic programme. Such a course is available at Bangor, and full details and application form may be obtained here.

International Students

For information and further detailed guidance on entry requirements for International Students, including the minimum English Language entry requirement, please visit the Entry Requirements by Country pages on the International Education Centre section of our website.

Ask the IEC for assistance...

If you want advice or a general chat about what’s available contact the International Education Centre on +44 (0) 1248 382028 or email international@bangor.ac.uk

Apply

How to Apply

Home/EU students

Home/EU students: apply online yourself with the help of our Guidance Notes on online application for Home/EU students. We strongly recommend you read these before you start to apply online.

Apply online

Once you have read the Guidance Notes you should apply using our Online Application form.

Need help applying? Home/EU students please contact:

Postgraduate Admissions: postgraduate@bangor.ac.uk or write to:

Admissions Office
Bangor University
Gwynedd
LL57 2TF

Telephone: +44 (0)1248 383717.

International students

  • Agents: if you are an agent applying on behalf of the student, then you can Apply here.  For further guidance click here

Need help applying? International students please contact:

International Education Office: international@bangor.ac.uk or write to

International Education Centre
Bangor University
Gwynedd
LL57 2DG

Telephone: +44 (0) 1248 382028

When to apply

The University will accept applications throughout the year, but we would generally advise that you send in your application form by the end of June (for September intake) or the end of October (for January intake) to ensure that you have time to make any funding and/or accommodation arrangements, and for documents such as transcripts and references to be obtained if not submitted with the application. This will also give you more time to meet any conditions we may potentially attach to an offer.

Further information

Next steps