Master of Science in Islamic Finance (MSc) (MQA/FA8831) ((R3/343/7/0071) (12 February 2023 – 11 February 2030)
Master of Science in Islamic Finance (MSc)
6 - 8 semester / FT: 3 Years - PT: 4 Years
Face to Face
Scholarship/Financial Aid Click Here
Why this course
When harnessed by the brightest minds, knowledge fuels innovation and progress.
With the MSc programme, you can use the knowledge gained to advance your career while also placing yourself among top innovators, fostering progressive developments in the industry, and around the world. Designed by renowned academicians and industry leaders from both conventional and Islamic finance, this programme allows you to balance your personal and professional commitments, while taking your career to new levels.
The MSc imparts thorough knowledge in the key areas of Islamic finance, Islamic economics and Shariah from both theoretical and applied aspects. Successful completion of the programme ensures that you would have acquired a comprehensive understanding of the economic, financial and legal environment in which providers of Islamic financial services operate. In addition, the programme sought to mould leaders equipped with expertise in both conventional and Islamic finance.
Bachelor's degree in Muamalat and recognised Islamic Finance or equivalent with a minimum CGPA of 2.50 out of 4.00.
Candidates with CGPA of below 2.50 but above 2.00, with a Bachelor’s degree from other fields may be considered, subject to additional internal assessments.
Admission via Accreditation of Prior Experiential Learning (APEL)
Malaysian citizen aged 30 years and above; and
Holding Diploma / STPM / Matriculation / A-level or equivalent;
Working and learning experience can be accredited; and
- Malaysian University English Test (MUET): Band 4 and above; or
- IELTS - band 6; or
- TOEFL: 550 (PBT), 79 (IBT) and above;
- Candidates from native English speaking countries
- Candidates with academic qualifications from institutions using English as the full medium of instruction
|BASIC FEE PAYMENT : INITIAL APPLICATION||MALAYSIAN STUDENT||INTERNATIONAL STUDENT|
|Application Processing Fee||RM70||RM130|
|BASIC FEE PAYMENT : AFTER ACCEPTED OFFER||MALAYSIAN STUDENT||INTERNATIONAL STUDENT|
|Tuition Fee Per Credit Hour||RM 650||RM 780|
|Core Courses (27 Credit Hours)||RM 17,550||RM 21,060|
|Elective Courses (9 Credit Hours)||RM 5,850||RM 7,020|
|1 Project Paper (6 Credit Hours)||RM 3,900||RM 4,680|
|PAYMENT : STUDENT SERVICE FEE||MALAYSIAN STUDENT||INTERNATIONAL STUDENT|
|Student Service / Resource Fee - Per Long Semester (Jan & Sept)||RM 1,000||RM 1,000|
|1 Year Student Service Fee||RM 2,000||RM 2,000|
|PAYMENT : MISCELLANEOUS FEES||MALAYSIAN STUDENT||INTERNATIONAL STUDENT|
|EMGS Application Fee||-||RM 1,060 - RM 1,208.40 (for Indonesian)|
|Personal Bond||-||RM 200 - RM 2,000|
|Student Pass Visa *according to Nationality||-||RM 60 - RM 120|
|Insurance||-||RM 400 - RM 800 (for Indonesian)|
|iKAD||-||RM 50 - RM 100 (for Indonesian)|
|eVAL Processing Fee||-||RM 159|
|Medical Check-Up||-||RM 250|
|PAYMENT : DEPOSIT (Refundable Fee)||MALAYSIAN STUDENT||INTERNATIONAL STUDENT|
|Security Deposit||RM 1,000||RM 1,000|
|PAYMENT : TOTAL||MALAYSIAN STUDENT||INTERNATIONAL STUDENT|
Without Student Service Fee + Miscellaneous Fees + Deposit
|RM 27,370||RM 32,890|
With Student Service Fee (1 Year) + Miscellaneous Fees + Deposit
|RM 30,370||RM 40.527.40|
|PAYMENT : RENEWABLE FEE||MALAYSIAN STUDENT||INTERNATIONAL STUDENT|
|EMGS Visa Renewal Fee||-||RM 148.40|
|Student Service Fee|
(Long Semester Only; Jan & Sept)
|RM 1,000||RM 1,000|
|PAYMENT : OPTIONAL FEE||MALAYSIAN STUDENT||INTERNATIONAL STUDENT|
|Progressive Payment Facility|
(* One-time payment and only applicable if the candidare opts to pay tuituion fee by semester basis.)
|RM 700||RM 700|
* Students to pay other fees required by Malaysian authorities
* INCEIF reserves the right to change the fees without prior notice
|Component of Courses||Credit Hours|
|1||9 Core Courses||27|
|2||3 Specialisation courses or 3 General Electives (to choose 3 courses or 9 credit hours)||9|
|3||Project Paper (10,000 – 15,000 words count)||6|
|Total Credit Hours to Complete||42|
|Core Course||Programme Code|
|1||Economics for Islamic Finance||FN5123|
|2||Research Methodology in Economics and Finance||QM5334|
|4||Islamic Jurisprudence and Law||FQ5103|
|5||Action Based Learning (ABL)|
|7||Islamic Law of Contracts||FQ5323|
|8||Islamic Capital Market||FN5603|
|9||Strategic Planning and Decision Making||AB5013|
(To choose 3 courses or 9 credit hours)
|Elective Course||Programme Code|
|1||Accounting for Islamic Financial Transactions||FQ5103|
|5||Risk Management in Islamic Financial Institutions||TK5413|
|6||Islamic Wealth Planning Management||FN5613|
|7||Mathematical Methods for Economics and Finance||QM5304|
Capital Markets (to choose 3 from 4 electives)
|Specialisation 1||Programme Code|
|3||Risk Management in Islamic Financial Institutions||TK5413|
Banking (to choose 3 from 4 electives)
|Specialisation 2||Programme Code|
|1||Accounting for Islamic Financial Transactions||FQ5103|
|2||Risk Management in Islamic Financial Institutions||TK5413|
At the end of MSc in Islamic Finance programme, graduates should be able to:
- Analyse, evaluate and synthesise knowledge related to issues and development in Islamic Finance and related areas.
- Demonstrate competence to use appropriate techniques for Islamic finance and related areas.
- Identify key problems in Islamic finance and related areas, analyse the environment and provide potential solutions using broad range of media and technology as well as scientific and visual data.
- Demonstrate teamwork qualities through communicating and working effectively with peers and possess leadership qualities with autonomy and responsibility.
- Perform independent research in Islamic finance areas and related areas.
- Demonstrate personal and entrepreneurial competency.
- Conduct themselves professionally and in compliance with good ethics and governance practices.
Applicants can apply via online at https://apply.inceif.org/online-application, proceed to create a new account and fill the prescribed forms. You may contact our education counsellors via live chat or email to [email protected] if you have any questions.
MQA/FA/8831 • R3/343/7/0071
|SEMESTER||INTERNATIONAL||LOCAL & PR|
|JUNE 2023 SEMESTER||28 FEB 2023||19 MAY 2023|
|SEPTEMBER 2023 SEMESTER||21 MAY 2023||11 AUGUST 2023|
|JANUARY 2024 SEMESTER||1 OCTOBER 2023||31 DECEMBER 2023|
Please ensure that your application is submitted before the application deadline as displayed. Applications received after this date may not be reviewed for admission.
We encourage you to apply early to ensure you have plenty of time to prepare the necessary travel, study and immigration documents.