BA (Hons) Islamic Finance and Accounting

Degree Type
Course Leader

Responding to increased demand by employers for graduates with detailed knowledge of conventional and Islamic Finance and Accounting, this innovative BA programme offers students the opportunity to acquire knowledge, understanding, and skills in core accounting and finance subjects as well as acquiring strong foundations in Islamic perspectives and approaches in these areas. The range of professional job opportunities in Islamic financial institutions is set to increase over the coming years due to the growing international acceptance of Islamic finance and its application in various institutional and organizational settings.

The first year (Level 4) of the programme provides a strong foundation in the Islamic sciences. For students graduating from recognised Islamic seminaries (Darul Ulum) may be awarded exemptions from Level 4 of the programme through the Recognition of Prior Learning (RPL) and can enter the programme at Level 5, shortening the degree duration to two years.

During the second and third years of study (Levels 5 and 6) students are taught conventional accounting and finance modules and also how the principles and knowledge of Islamic sciences are applied to Islamic finance and accounting. Modules integrated into the degree programme include: management accounting; financial accounting; corporate and business law; audit and assurance; organisations and management; taxation and insurance; leadership and change; economics; Islamic jurisprudence; maqasid al-Sharia’ah.

A comparative dimension enables students to explore financial and accounting themes from both Islamic and conventional perspectives. Thereby, gaining the education and experience necessary to undertake careers in Islamic finance and accounting, and in mainstream institutions, or opt for further advanced Masters’ level studies and research.

Students benefit from small class sizes, individual attention, personalised teaching support and access to an extensive range of both English and Arabic texts housed within our well-resourced Islamic library, which is one of the largest in Europe. The course employs a range of teaching and learning methods both in and outside the classroom. As students’ progress in their studies, they will be encouraged to specialise and pursue their own areas of interest.

Entry Requirements

A minimum of 3 ‘A’ levels (or equivalent) are normally required plus a GCSE pass in English and Maths or equivalent. Qualifications from established Dar al-‘ulum (Islamic seminaries) are also acceptable.

The course opens a pathway for those with an Islamic Studies background, especially those graduating from Dar al-‘ulum, who may gain exemptions from year one of the programme through recognition of prior learning (RPL), thereby shortening the length of time spent on the degree programme from three to two years.

International applicants who require a Tier 4 visa to study in the UK will need to ensure that they also have an IELTS test from a UKVI approved test centre. Applicants will need to have achieved an average score of 5.5 in their IELTS test (with a minimum of 5.5 in each of the four sub-components of language learning (reading, writing, speaking and listening). For a list of UKVI approved test centres, please use the following link: UKVI approved test centre

Programme Structure

This is a three-year full-time course which offers the options of completion at three levels:

  • 120 credits      Certificate in Higher Education
  • 240 credits      Diploma in Higher Education
  • 360 credits      BA (Hons) in Islamic Finance and Accounting

Level 4 (Year 1) Modules:

Module Code

Title

Credits

Core /Option

Assessment

BISA 400

Classical Arabic

40

Core

80% examination

20% coursework

BISA 401

Introduction to the Qur’an and its Sciences

20

Core

100% coursework

BISA 402

Introduction to Hadith and its Sciences

20

Core

100% coursework

BISA 403

Introduction to Islamic Jurisprudence

20

Option

100% coursework

BISA 404

Islamic History: Life of the Prophet (Sirah)

20

Option

100% coursework

BIFA 400

Fiqh al Muamalat: Islamic Commercial Law 

20

Option

60% examination

40% coursework


Level 5 (Year 2) Modules:

Module Code

Title

Credits

Core /Option

Assessment

BISA 500

Research and Information Analysis Skills

20

Core

50% examination

50% coursework

BIFA 500

Principles of Islamic Economics and Finance

20

Core

100% coursework

BIFA 501

Principles of Islamic Accounting

20

Core

40% examination

60% coursework

BIFA 502

Management Accounting

20

Option

60% examination

40% coursework

BIFA 503

Islamic Finance and Corporate Law

20

Option

100% examination

BIFA 504

Introduction to Taxation

20

Option

60% examination

40% coursework

BIFA 505

Organisations and Management

20

Option

100% coursework

BISA 502

Principles of Islamic Jurisprudence

20

Option

100% coursework


Level 6 (Year 3) Modules:

Module Code

Title

Credits

Core /Option

Assessment

BISA 600

Dissertation

40

Core

100% coursework

BISA 601

Maqasid al-Shariah (Objectives of Islamic Law)

20

Core

100% coursework

BIFA 600

Financial and Management Reporting in Islamic Finance

20

Core

40% examination

60% coursework

BIFA 601

Islamic Accounting: Auditing and Assurance

20

Core

40% examination

60% coursework

BIFA 602

Applied Islamic Banking and Insurance

20

Option

100% coursework

BIFA 603

Financial Markets and Institutions

20

Option

100% coursework

BIFA 604

Quantitative Financial Methods

20

Option

40% examination

60% coursework

BIFA 605

Leadership and Change Management

20

Option

100% coursework


Our staff

You are taught by a highly qualified, enthusiastic team of academics with wide-ranging research interests. Their research is used in lectures and seminars so you learn about the latest issues impacting on the subject area.

Career Paths

Graduates would be able to pursue careers in the finance and accounting professions, particularly those which focus on value-based products and services - such as conventional banks with Islamic windows and products, social, commercial and investment banks, microfinances, government bodies, money markets, insurance companies, NGOs, development agencies and businesses involved in the emerging Islamic banking and finance industry including Islamic banks, Islamic insurance (Takaful) financial regulation, Islamic capital markets, actuarial fields, and the investment arena.

How to Apply

If you wish to join any of our programmes, please complete an online application from the website www.mihe.ac.uk, mentioning details of your academic qualifications and outlining your motivation for applying for your chosen course. You will also need to include two references.  Applications for the February intake should be received by mid-January, and for the September intake by the end of August.  If you need any further advice or assistance please email us at info@mihe.ac.uk.

Fees and Funding

The tuition fees for our BA courses for UK and EU students is £5,500/year and £7,500/year for overseas full-time students. What's included? The fee includes registration, tuition, examination/assessment marking and graduation. It excludes study materials, re-examination (re-takes), residential accommodation, meals, travel, graduation robes and photographs.