Islamic banking and finance industry has experienced exponential growth across the globe. This growth has created high demand for Islamic financial products and services. Regardless of this high growth there is a dearth of skilled human capital in the industry. In order to play its role in the promotion of Islamic finance education, the Centre for Excellence in Islamic Finance, Institute of Management Sciences (CEIF IMSciences) aims to introduce Master of Science in Islamic Business and Finance (MS IB&F). The program is particularly designed to develop the research side of the professionals, who can contribute to the depth of Islamic banking and finance industry through research and innovation to continuously boost the growth of Islamic financial markets, consequently, promote financial inclusion and development of the discipline. MS IB&F is a well-timed proposal, which can fulfill the dire need of leadership expertise for the exponentially growing Islamic banking and finance industry and will also advance the role of Institute of Management Sciences in meeting the higher education requirements of the country.

Vision Statement

To promote high quality research based education in Islamic Finance and banking

Mission Statement

To produce leaders for Islamic Finance and banking industries through advancement of the students’ knowledge, skills and attitude toward high quality research.

Program Objectives

The MS Islamic Business & Finance program is developed to

1. Build competence of students to further advance theory and practice of Islamic Finance

2. To equip students with the latest tools of research for promotion of Islamic Finance and banking

Eligibility for Admission

16 years of education in any relevant disciplines such as Islamic Banking and Finance, Management, Business, Economics, Islamiat, and Usul Fiqh, with a 3.0 CGPA in semester system or 60 % marks in the annual system (with a minimum of 130 credit hours in bachelor’s and 60 credit hours in the master’s program in the relevant field) from any HEC recognized Institution/University.

Qualifying the NTS-GAT general test/Institute’s own test or any other test required by the HEC with 50% marks and interview is mandatory for admission.

The Hafiz Quran shall be given a special credit of 20 marks

Total Required Credit Hours: Forty-Eight (48)

Applicants having graduate degrees (16 years) in Islamic Banking and Finance, Management and Business will be given exemptions up-to 18 credit hours.

Semester 1
Code Course Title Credit Hours
XXX XXX Core Course – I Three (03)
XXX XXX Core Course – II Three (03)
XXX XXX Core Course – III Three (03)
XXX XXX Core Course – IV Three (03)
Semester 2
Code Course Title Credit Hours
XXX XXX Core Course – V Three (03)
XXX XXX Core Course – VI Three (03)
XXX XXX Elective – I Three (03)
XXX XXX Elective – II Three (03)
Semester 3
Code Course Title Credit Hours
XXX XXX Core Course – VII Three (03)
XXX XXX Core Course – VIII Three (03)
XXX XXX Elective III Three (03)
XXX XXX Elective IV Three (03)
Semester 4
Code Course Title Credit Hours
XXX XXX Elective V Three (03)
XXX XXX Elective VI Three (03)
XXX XXX Optional – I (in lieu of RES 790) Three (03)
XXX XXX Optional – II (in lieu of RES 790) Three (03)
RES 790 Master’s Dissertation Six (06)
Core Courses
Code Course Title Credit Hours
BNK 601 Commercial and Central Banking Three (03)
IBF 611 Islamic Financial Markets Three (03)
IBF 615 Islamic Law and Financial Transactions Three (03)
STA 625 Econometrics Three (03)
IBF 651 Accounting for Islamic Financial Institutions Three (03)
RES 721 Applied Research Methods Three (03)
RES 715 Qualitative and Quantitative Research Techniques Three (03)
IBF 705 Risk Management in Islamic Financial Institutions Three (03)
Code Course Title Credit Hours
IBF 685 Governance of Islamic Financial Institutions Three (03)
IBF 711 Underwriting and Claims Management in Takaful Companies Three (03)
IBF 715 Financial Statement Analysis of Islamic Financial Institutions Three (03)
IBF 721 Islamic Financial Product Development Three (03)
IBF 755 Case Studies in Islamic Finance Three (03)
IBF 790 Islamic Fintech Three (03)
FIN 685 Investment Analysis and Portfolio Management Three (03)
IBF 851 Islamic Finance Research Three (03)
IBF 661 Islamic Management Three (03)
FIN 851 Data Science for Finance Three (03)
FIN 861 Financial Engineering Three (03)