Postgraduate MSc

Islamic Banking and Finance

Salford Business School

Full-time

Part-time

Attendance

One year

Two year

Course

March 2019

Next enrolment
Introduction

In a nutshell

You will gain the necessary skills and knowledge required to work in this growing and sophisticated banking and finance sector. Against a background of ethical finance and sustainability, you will look at understanding, applying and critically assessing modern corporate governance, modern capital structure theory, its relevance to the structure of contemporary business environments and how this impacts the returns achieved by investing in modern firms.

The programme is highly industry-focussed and culminates in the Industry Collaboration Project.  You will choose one of four options to look at a real industry problem and provide researched solutions, helping you put your learning into practice.

In light of the recent financial crisis, you will look at the critical role played by complex financial instruments in the management of risk and the need for financial engineering skills. You will also develop your skills in financial analysis to forecast future investment opportunities and devise strategies to minimise the risks associated with equity valuation and issuance of equity in different sectors of the economy. This programme will prepare you to sit the CFA exams.

On completion of your programme you will be able to effectively perform relevant ethical banking and finance tasks, including specific requirements of Islamic banking, financial products and services.

You will also learn to be effective, working independently and as part of a team, while critically evaluating and developing good practice in the planning and management of general, commercial and Islamic banking and financial products and services.

You will:
  • Develop the essential skills for a career in Islamic banking
  • Strengthen your knowledge of Islamic and ethical banking practices
  • Apply your knowledge though the Industry Collaboration Project
Placement

options available

International

students accepted

Course accreditations
EPAS logo

This is for you if...

1.

You are interested in a career in banking and finance

2.

You wish to explore Islamic and ethical banking practices

3.

You are a critical thinker

4.

You enjoy putting your learning into practice

5.

You are commercially-minded

6.

You enjoy analysing data and academic theory

Course details

All about the course

The course is delivered in four blocks of intensive study periods. For each block, you study a single module for a six week period. Face to face teaching is delivered on campus for two half days each week. In addition, you will attend the taught element of the Industry Collaboration Project each Wednesday afternoon during the six week blocks. During this period, you will also undertake independent study in your own time with online support through the University’s virtual learning environment, Blackboard.

The industry Collaboration Project (ICP) module accounts for the final 60 credits of your degree. You will have the opportunity to select between a placement, internship or dissertation, all of which are designed to accommodate your career aspirations and enhance your professional experience.

You will be allocated a supervisor who will mentor you through the ICP. You will also have the opportunity to engage with the Student Hub and askUS. askUS can help with pre project/placement support for students and opportunities for those going on placement to participate in training workshops to ensure best practice. The Student Hub can helps you to find internships, placements and live projects for your Industry Collaboration Project.

Part-time students study alternate modules (one module on, one module off) to complete their degree in two years.

For the final third of your studies, you will work on your Industry Collaboration Project, working with your own or another organisation on a live brief.

Semester one

Corporate and Quantitative Finance

In this module, you will critically assess modern corporate governance in light of the recent financial crisis and review the ethical issues in running modern firms. You will also critically assess modern capital structure theory, the risks and opportunities involved in mergers and acquisitions and the limitations and applications of statistical methods in finance.

Financial Engineering and Risk Management

Through this module you will critically evaluate the limitations and alternative forms of quantifiable risk and devise strategies to mitigate risk in using financial engineering instruments.

Semester two

Equity Valuation and Financial Statement Analysis

This module involves the evaluation of the theoretical basis of modern equity valuation and the concepts behind financial reporting. You will examine the impact of market and accounting based factors on the performance of firm equity value and devise strategies to minimise the risks associated with equity valuation.

Ethical and Islamic Financial Markets

Through Ethical and Islamic Financial Markets you will learn to understand and apply the general principles of ethical and sustainable finance. You will gain a critical understanding of Islamic financial markets and banking practices in promoting the concepts of ethics, justice and fairness. This module prepares you with appropriate tools of analysis to understand the mechanics of Islamic financial instruments and their roles in promoting efficiency in the Islamic financial markets. You will also examine ethical finance practices and develop an understanding of contemporary research issues.

Semester three (Industry Collaboration Project (ICP) - choose from:)

Work Placement

The paid Work Placement gives you the chance to undertake a six month project with an organisation located regionally, nationally or internationally. By exploring a key issue impacting an organisation, you will apply the theoretical knowledge gained through your studies and develop and use appropriate problem-solving skills in a real-world environment.

You will create an initial 1,500 word research proposal then compile an 8,500 – 10,000 word portfolio of evidence that shows the work undertaken, the deliverables created, the impact achieved, the theories and concepts applied, the data gathering activities undertaken and a critical reflection by the student of their work practices and learning. In addition, you will share your findings with key stakeholders. This will generally be a presentation to an audience but might be a poster presentation or a video recording.

Assessment:
10% project proposal
80% portfolio
10% presentation

Internship

The unpaid Internship option of the Industry Collaboration Project aims to equip you with the relevant practical skills to critically identify and evaluate key issues impacting organisations and their environments either in the UK or overseas.

Over a three month period, you will work alongside an organisation to identify and explore a real organisational issue.  You will have specified learning goals and will need to actively reflect on what is being learned throughout the experience.

You will create an initial 1,500 word research proposal then compile an 8,500 – 10,000 word portfolio of evidence that shows the work undertaken, the deliverables created, the impact achieved, the theories and concepts applied, the data gathering activities undertaken and a critical reflection by the student of their work practices and learning. In addition, you will share your findings with key stakeholders. This will generally be a presentation to an audience but might be a poster presentation or a video recording.

Assessment:

10% project proposal
80% portfolio
10% presentation

Dissertation

An advanced-level applied research pathway based on a real-world business problem and examining an issue important to an organisation.   The Dissertation path gives you the opportunity to apply the theoretical and practical knowledge gained from the taught elements of the programme to a current organisational issue and deploy and effectively use appropriate problem-solving skills through critical self-reflection and methodical, systematic research.  It is an excellent option if you are considering moving into academic research and PhD studies.

You will create an initial 1,500 word research proposal consisting of research questions, aims and objectives, and the rationale for undertaking the study.  The 12,000 – 15,000 word dissertation will include literature review, research methodology, analysis of findings, conclusions, recommendations and a critical reflection of your learning. In addition, you will share your findings with key stakeholders. This will generally be a presentation to an audience but might be a poster presentation or a video recording.

Assessment:

10% project proposal
80% portfolio
10% presentation

Entrepreneurship

Please note, this option is available from September 2019
Through this option, along with applying your theoretical knowledge from the taught elements of the programme, you will develop the transferable skills and qualities required for entrepreneurial behaviour and work on your own innovative business idea. You will reflect on business opportunities, challenges and strategies with the aim of establishing a new businesses, or incorporating entrepreneurial thinking into the management of an existing organisation. The three month Entrepreneurship path will be assessed through the development of an Initial Business Proposal and an 8,500 word Comprehensive Business Proposal accompanied by a 30 minute presentation.

What will I be doing?

Teaching is delivered through a combination of lectures, seminars and tutorials, using a wide range of learning activities.

ASSESSMENT

Over the duration of your course a range of assessment techniques will be used. Types of assessment include; essays, assignments, exams, multiple choice tests, online tests, group reports, and portfolio work. The weighting between exams and coursework varies between modules and years.

Salford Business School

Salford Business School aims to be the most business-informed, industry-relevant business school in the UK. Industry shapes everything we do, from informing our students’ learning to providing work placements, driving our research and influencing our academic staff.

We want you to gain the best academic and personal experience possible. As a student here, you’ll have access to a range of experiences and opportunities, including internships and work placements in the UK or internationally so you graduate with much more than a degree.

Our facilities

Salford Business School is located at the heart of the University’s Peel Park campus and just minutes from Manchester city centre. Teaching facilities include Lady Hale and Chapman buildings, which offer stylish modern spaces with lecture theatres equipped with the very latest technology and large screen displays. A dedicated Employability team will help you with work placements and access to work skills. 
Throughout campus, there is a choice of individual study areas, communal learning and breakout spaces, plus a selection of food outlets.

Employment and stats

What about after uni?

On completion of the course you will be well-prepared to find opportunities with banking and finance organisations which are developing their Islamic banking capabilities.

This is a relatively new and emerging banking industry in the West, characterised by the necessity for in-depth knowledge of banking, along with a detailed knowledge of the complexities of banking in the Islamic financial sector.

This course is an ideal choice if you are interested in a career in financial institutions, management consulting, or government bodies. You will have an excellent opportunity to secure a rewarding role in Islamic banking and finance in business or consulting. It also prepares you for academic research in Islamic banking and finance.

On completing the course you will be qualified to pursue a career with Islamic financial Institutions and regulatory agencies, and also with multinational investment banks as experts in their fields. Modern employers pay a high premium for graduates with expertise in this growing field, and you stand to significantly enhance your earnings in this high-demand sector.

Our graduates have gone on to join leading Islamic banking institutions in both the UK and internationally in regions including the Gulf States. There are also opportunities to join consultancy and service providers, insurance firms, and the academic community.

Become

A product and services development manager

An islamic banking advisor

An islamic banking finance manager

A dealer – Islamic banking

An Islamic banking relationship manager

And more...

Career Links

The University of Salford grew out of the institutes of the late 19th century that provided a talented, technically proficient and professional workforce to support the UK’s rapidly growing industries. In the 21st century, this still holds strong. Whilst industry has changed significantly, the need for industry-focused education is equally relevant today.

We teach the skills that employers need and as a result, our graduates enjoy excellent international career prospects.

The curriculum across our postgraduate courses balances academic teaching and professional experience. Our industry partners give us their input into the curriculum so that the teaching reflects industry’s current and future needs and you develop the skills that employers want. The Industry Collaboration Project, which forms the final third of your study, is designed to give you real-world experience so you can apply the theory you have learned.

Requirements

What you need to know

This course is ideal for graduates who want to establish a career in finance or banking while gaining a detailed understanding of the scope and significance of the key principles of Islamic economic laws and financial activities.

English Language Requirements 

International applicants will be required to show a proficiency in English. An IELTS score of 6.5 (no element below 5.5) is proof of this.

If the English language qualification is slightly below this level candidates may be able to take one of the many English courses available in the University.

 

Standard entry requirements

Undergraduate degree

Normally a minimum 2:2 honours degree or equivalent or successful completion of the Graduate Certificate International Management .

A wide range of professional qualifications are also accepted either in partial or complete fulfilment of entry requirements.

Where a student has gained a recognised Honours degree but does not meet the normal entry qualification requirement, they may still be considered for entry if they can demonstrate relevant work experience of a minimum two years duration post study and acceptable level of responsibility.

Alternative entry requirements

Accreditation of Prior Learning (APL)

We welcome applications from students who may not have formal/traditional entry criteria but who have relevant experience or the ability to pursue the course successfully.

The Accreditation of Prior Learning (APL) process could help you to make your work and life experience count. The APL process can be used for entry onto courses or to give you exemptions from parts of your course.

Two forms of APL may be used for entry: the Accreditation of Prior Certificated Learning (APCL) or the Accreditation of Prior Experiential Learning (APEL).

How much?

2019 fees are for programmes starting in March, June and July.  Fees for programmes starting in September 2019 and after will be published in late spring.

Type of study Year Fees
Full-time home/EU 2019 £8,550per year
Full-time international 2019 £14,400per year
Part-time 2019 £1,425 per 30 credit module
Additional costs

You should also consider further costs which may include books, stationery, printing, binding and general subsistence on trips and visits.

Apply now

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Enrolment dates

March 2019

June 2019

July 2019

September 2019

November 2019

January 2020

March 2020

June 2020

July 2020

September 2020

November 2020