Masters in Islamic Finance Practice (MIFP) (MQA/FA2551) (R2/343/7/0045) (9 January 2023 – 8 January 2028)
Masters in Islamic Finance Practice (MIFP) |
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Full Time : Minimum 1 year, Maximum 2 years |
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Part Time : Minimum 1 ½ years, Maximum 4 years |
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Face to Face |
Scholarship/Financial Aid Click Here |
Why this course
Designed for working professionals, our comprehensive MIFP programme takes you beyond Islamic finance, imparting knowledge and instilling values, as you prepare to join the industry's top brass.
The MIFP programme is a postgraduate course aimed at producing industry practitioners with global insight, holistic knowledge and cutting-edge expertise in Islamic finance. It is accredited by the Malaysian Qualifications Agency (MQA), and is developed by renowned academicians and experts from both conventional and Shariah financial fields, ensuring that students graduate with knowledge of both disciplines.
The course modules cover a wide range of critical topics ranging from wealth management, banking and investment to financial services, ethics and governance. Students will obtain comprehensive and practical understanding of Islamic economics, finance and Shariah as well as the environment in which Islamic finance players operate.
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Course information
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Bachelor's degree in Muamalat and recognised Islamic Finance or equivalent with a minimum CGPA of 2.50 out of 4.00.
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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.
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Admission via Accreditation of Prior Experiential Learning (APEL)
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Malaysian citizen aged 30 years and above; and
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Holding Diploma / STPM / Matriculation / A-level or equivalent;
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Working and learning experience can be accredited; and
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APEL assessment
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English proficiency:
- Malaysian University English Test (MUET): Band 4 and above; or
- IELTS - band 6; or
- TOEFL: 550 (PBT), 79 (IBT) and above;
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Exemption:
- 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 600 | RM 720 |
| Core Courses (21 Credit Hours) | RM 12,600 | RM 15,120 |
| Elective Courses (9 Credit Hours) | RM 5,400 | RM 6,480 |
| 1 Project Paper (12 Credit Hours) | RM 7,200 | RM 8,640 |
| PAYMENT : STUDENT SERVICE FEE | MALAYSIAN STUDENT | INTERNATIONAL STUDENT |
|---|---|---|
| Student Service / Resource Fee - Per Long Semester (Jan & Sept) | RM 850 | RM 850 |
| 1 Year Student Service Fee | RM 1,700 | RM 1,700 |
| 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 |
|---|---|---|
| Basic Fee Without Student Service Fee + Miscellaneous Fees + Deposit | RM 25,270 | RM 30,370 |
| Basic Fee With Student Service Fee (1 Year) + Miscellaneous Fees + Deposit | RM 27,270 | RM 37,707.40 |
| PAYMENT : RENEWABLE FEE | MALAYSIAN STUDENT | INTERNATIONAL STUDENT |
|---|---|---|
| EMGS Visa Renewal Fee | - | RM 148.40 |
| Student Service Fee (Long Semester Only; Jan & Sept) | RM 850 | RM 850 |
| 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 | 7 Core Courses | 21 |
| 2 | Electives (Choose any 3) | 9 |
| 3 | Project Paper (Consultancy Paper/Case Study) | 12 |
| Total Credit Hours to Complete | 42 | |
| Core Course | Programme Code | |
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| 1 | Data Analytics for Business | QME5013 |
| 2 | Business Strategy and Policy | AB5013 |
| 3 | Economics for Islamic Finance | IE5033 |
| 4 | Shariah Aspects of Business and Finance | SH5013 |
| 5 | Shariah Rules and Issues | SH5023 |
| 6 | Ethics and Professionalism | IE5023 |
| 7 | Action Based Learning (ABL) | AB5023 |
| Elective Course | Programme Code | |
|---|---|---|
| 1 | Accounting for Islamic Finance | AC5023 |
| 2 | Islamic Insurance | TK5013 |
| 3 | Islamic Banking Practices | IB5013 |
| 4 | Risk Management for Islamic Financial Institutions | IB5033 |
| 5 | Islamic Capital Market | FN5044 |
| 6 | Portfolio Management | IB5043 |
| 7 | Sustainability Management and Investment | MGT5213 |
| 8 | Wealth Planning and Management | TK5033 |
| 9 | Commercial Law and Legal Documentation for Islamic Financial Services | SH5053 |
| 10 | Audit and Compliance | AC5033 |
| 11 | Social Finance | FIN5213 |
At the end of Masters in Islamic Finance Practice programme, graduates should be able to:
- Analyse, adapt and apply knowledge related to issues and development in Islamic finance industry.
- Demonstrate competency and skills in using appropriate techniques for Islamic finance industry.
- Identify key problems in Islamic finance and related industry, analyse the environment and provide practical 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.
- 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.
APPLICATION DEADLINE
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MQA/FA/2551 • R2/343/7/0045 |
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| SEMESTER | INTERNATIONAL | LOCAL & PR |
| SEPTEMBER 2023 SEMESTER | 1 JUNE 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.
International Applicants
We encourage you to apply early to ensure you have plenty of time to prepare the necessary travel, study and immigration documents.
