Masters in Islamic Finance Practice (MIFP) (MQA/FA2551) (R2/343/7/0045) (9 January 2023 – 8 January 2028)

Masters in Islamic Finance Practice (MIFP)
Full Time : Minimum 1 year, Maximum 2 years
Part Time : Minimum 1 ½ years, Maximum 4 years
Face to Face
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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

  • 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
    • APEL assessment
  • English proficiency:

    • Malaysian University English Test (MUET): Band 4 and above; or
    • IELTS : Band 6; or
    • TOEFL: 9.5 (Essential), 79 (IBT) and above;
  • Exemption:

    • Candidates from native English speaking countries
    • Candidates with academic qualifications from institutions using English as the full medium of instruction


TUITION FEES MALAYSIAN STUDENT INTERNATIONAL STUDENT
Tuition Fee Per Credit HourRM 620RM 750
Core Courses (21 Credit Hours)RM 13,020RM 15,750
Elective Courses (9 Credit Hours)RM 5,580RM 6,750
1 Project Paper (12 Credit Hours)RM 7,440RM 9,000


STUDENT SERVICE FEE MALAYSIAN STUDENT INTERNATIONAL STUDENT
Student Service / Resource Fee - Per Long Semester (Jan & Sept)RM 1,100RM 1,100
1 Year Student Service FeeRM 2,200RM 2,200


MISCELLANEOUS FEES MALAYSIAN STUDENT INTERNATIONAL STUDENT
EMGS Application Fee-RM 1,060 - RM 1,231.20 (for Indonesian)
Personal Bond-RM 200 - RM 2,000
Student Pass Visa *according to Nationality-RM 60 - RM 120
Insurance-RM 475 - RM 1080 (for Indonesian)
iKAD-RM 50 - RM 100 (for Indonesian)
eVAL Processing Fee-RM 162
Medical Check-Up-RM 250


DEPOSIT (Refundable Fee) MALAYSIAN STUDENT INTERNATIONAL STUDENT
Security DepositRM 300RM 1,000


TOTAL MALAYSIAN STUDENT INTERNATIONAL STUDENT
Basic Fee
(Not including Student Services Fee + Miscellaneous Fees + Deposit)
RM 26,040RM 31,500
Total Fee
(Including Student Services Fee (1 Year) + Miscellaneous Fees + Deposit)
RM 28,540RM 39,643.20**


RENEWABLE FEE MALAYSIAN STUDENT INTERNATIONAL STUDENT
EMGS Visa Renewal Fee-RM 151.20
Student Service Fee
(Long Semester Only; Jan & Sept)
RM 1,100RM 1,100


* Students to pay other fees required by Malaysian authorities

* INCEIF reserves the right to change the fees without prior notice

* Total Fee calculated is based on maximum chargeable amount

  Component of Courses Credit Hours
17 Core Courses21
2Electives (Choose any 3)9
3Project Paper (Consultancy Paper/Case Study)12
Total Credit Hours to Complete42


  Core Course Programme Code
1Data Analytics for BusinessQME5013
2Business Strategy and PolicyAB5013
3Economics for Islamic FinanceIE5033
4Shariah Aspects of Business and FinanceSH5013
5Shariah Rules and Issues SH5023
6Ethics and Professionalism IE5023
7Action Based Learning (ABL) AB5023


  Elective Course Programme Code
1Accounting for Islamic FinanceAC5023
2Islamic InsuranceTK5013
3Islamic Banking PracticesIB5013
4Risk Management for Islamic Financial InstitutionsIB5033
5Islamic Capital Market FN5044
6Portfolio Management IB5043
7Sustainability Management and Investment MGT5213
8Wealth Planning and Management TK5033
9Commercial Law and Legal Documentation for Islamic Financial Services SH5053
10Audit and Compliance AC5033
11Social Finance FIN5213

At the end of Masters in Islamic Finance Practice programme, graduates should be able to:

  1. Analyse, adapt and apply knowledge related to issues and development in Islamic finance industry.

  2. Demonstrate competency and skills in using appropriate techniques for Islamic finance industry.

  3. 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.

  4. Demonstrate teamwork qualities through communicating and working effectively with peers and possess leadership qualities with autonomy and responsibility.

  5. Demonstrate personal and entrepreneurial competency.

  6. 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

    MIFP Application Deadline

    MQA/FA/2551 • R2/343/7/0045
    (Validity 9 January 2023 – 8 January 2028 )

    SEMESTER INTERNATIONAL LOCAL & PR
    JUNE 2024 SEMESTER 4 MARCH 2024 20 MAY 2024
    SEPTEMBER 2024 SEMESTER 31 MAY 2024 23 AUGUST 2024
    JANUARY 2025 SEMESTER 20 OCTOBER 2024 31 DECEMBER 2024

    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.


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