Markfield Institute

Start date

Jan 26, 2026

Typical offer

Masters Degree

Duration

Full-Time (12 Months) or Part-Time (24 Months)

Fee

UK: £

6000

Overview

The MA Islamic Finance and Sustainable Development programme gives students a critical understanding of Islamic finance and its impact for sustainable development. The programme employs a multi-disciplinary approach to examine Islamic principles, financial regulations, Islamic commercial law, Islamic financial instruments, and evaluation of financial data as part of the global financial system to equip students for employment, further studies or research. The course will develop research capabilities and critical insights into the theory and practice of the Islamic financial sector. It contextualises Islamic principles within a contemporary financial setting. The programme draws on both Islamic and conventional finance theory, and explores Islamic finance principles, practices, and implications within the context of sustainable development.

The MA in Islamic Finance and Sustainable Development is offered full-time (12 months, over three semesters) and part-time (24 months, over six semesters). The programme employs various teaching and learning methods in and outside the classroom. The taught modules are delivered through blended learning, which combines traditional class-based methods and guided independent study with online learning, or via distance learning mode.

Validating University: This course has been validated by Birmingham Newman University.

Course structure

<module-heading-orange>Core modules<module-heading-orange>
‍

<course-name>MA Research Methods<course-name> <course-hours>(20 credits)<course-hours>
‍

This module equips students with advanced knowledge of research methodologies and methods, and problem-solving frameworks used in the social sciences, business studies, and the study of religion. It covers both qualitative and quantitative fact-finding/research techniques, including textual analysis.

‍
Assessment
100% Portfolio

Module code
MI-MF7 610

‍

<course-name>MA Dissertation<course-name> <course-hours>(60 credits)<course-hours>
‍

This module enables students to develop as independent learners by completing a supervised study that may incorporate elements of problem-solving (e.g., consultancy) or research conducted in a fieldwork/case study context. Students can undertake an independent study project or a dissertation as part of this module. Both formats should demonstrate their ability to engage with theory critically, collect data/conduct independent research, and apply theory to address a problem area, and to present findings coherently and scholarly.

‍

‍Assessment
100% Coursework

Module code
MI-MF7 600
‍

‍
<course-name>Islam and Sustainable Development<course-name> <course-hours>(20 credits)<course-hours>

This module critically explores the evolution of ideas, concepts and debates surrounding sustainability and sustainable development from various theoretical perspectives, including the Islamic perspectives on sustainable development. The module integrates Islamic theology, jurisprudence, ethics, and economics perspectives to analyse sustainability principles, environmental stewardship, social justice, and economic equity within conventional and Islamic frameworks.

‍

‍Assessment
100% Coursework

Module code
MI-MF7 700
‍

<course-name>Sustainable Finance and Objectives of the Shariah<course-name> <course-hours>(20 credits)<course-hours>

This module critically explores sustainable finance from both conventional and Islamic perspectives. In particular, the intersection of Islamic finance principles and sustainable finance practices. Students will evaluate Islamic finance's role in promoting financial inclusion and social justice and how Islamic finance principles align with sustainable finance's goals, such as environmental stewardship, social responsibility, and just economic development (that prioritises human wellbeing, fairness, equity, and social justice).

‍

‍Assessment
100% Coursework

Module code
MI-MF7 701
‍

<module-heading-purple>Optional modules<module-heading-purple>

‍
<course-name>Islamic Commercial Law and Transactions<course-name> <course-hours>(20 credits)<course-hours>
Islamic commercial law is grounded in principles derived from Islamic jurisprudence (fiqh) and ethical teachings, aiming to regulate commercial transactions in accordance with Islamic beliefs and values. This module provides a critical understanding of Islamic commercial law, focusing on its principles, theories, and practical applications in contemporary business contexts.

‍

Assessment
100% Coursework

Module code
MI-MF7 702

<course-name>Applied Islamic Finance<course-name> <course-hours>(20 credits)<course-hours>

This module provides a critical understanding of how Islamic finance principles are implemented in Islamic financial institutions, examining their contrasts and synergies with conventional accounting and finance frameworks. Students will explore how Islamic finance principles are applied to financial products, operations and services (including Islamic banking products and services, asset-liability management, liquidity management, and profit-sharing arrangements), comparing them to conventional banking models that rely on interest-based (riba) transactions and risk-transfer mechanisms.

Assessment
100% Coursework

Module code
MI-MF7 703

<course-name>Islamic Microfinance<course-name> <course-hours>(20 credits)<course-hours>
Islamic microfinance—a range of financial services designed for low-income entrepreneurs and small business owners who often lack access to traditional banking—has become an essential development strategy in many Muslim countries. It allows low-income individuals to finance income-generating activities while adhering to Sharia-compliant accounting and financial principles, such as the prohibition of riba (interest) and the promotion of risk-sharing models like Mudarabah (profit-sharing) and Qard Hasan (interest-free loans).

‍

Assessment
100% Coursework

Module code
MI-MF7 704
‍

<course-name>Islamic Financial and Capital Markets<course-name> <course-hours>(20 credits)<course-hours>
The module critically examines Islamic financial and capital markets, focusing on theoretical foundations, market practices, and regulatory frameworks within Islamic finance. It provides a nuanced understanding of the complexities and opportunities present in Islamic financial and capital markets and their integration with conventional financial systems.

‍

Assessment
100% Coursework

Module code
MI-MF7 705

‍

<course-name>Change Management and Leadership<course-name> <course-hours>(20 credits)<course-hours>
This module provides a critical understanding of the concepts, models and approaches for effectively managing organisational and community change. It explores the drivers, challenges, organisational dynamics of change, and approaches for achieving the intended change by applying change models, project management tools, and the leadership skills required for this process.

‍

Assessment
100% Coursework

Module code
MI-MF7 706

The Course is offered on both a full-time and part-time basis.

Postgraduate Certificate: Awarded on the basis of 60 credits which must include 45 credits from core modules.
‍
Postgraduate Diploma: Awarded on the basis of 120 credits.

MA Degree: 180 credits (including the dissertation)

Please note that our modules are subject to change – we review the content of our courses regularly, making changes where necessary to improve your experience and graduate prospects.

Contact hours

Contact hours or guided learning hours are the number of hours a student will be taught and/or supported by their tutors during their studies. This includes direct teaching, guidance or supervision time. In addition, students are expected to spend additional time to attempt tutor set tasks and reading, completing their assessments, as well as independent study to learn the material covered in order to complete the qualification.

Each module is worth a certain number of credits. Each credit is estimated to be 10 hours of learning. For example, a 20-credit module requires 200 hours of learning, and this will include scheduled contact hours with your tutor(four hours/week online and/or in-person class attendance, and 48 hours over a 12 weeks semester). The remaining time is for the student to engage in tutor guided reading and tasks set for them, and also completing assessments.

The modules will be delivered by blended learning, which employs multiple methods to deliver learning by combining face-to-face interactions with online activities. Face-to-face interactions include lectures, seminars/tutorials, student presentations, and one-to-one support. In addition, students will be expected to engage in independent study to prepare for weekly classes, formative assessments, and coursework for each module..

Teaching staff

Students will be 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 the subject area.

Entry requirements

Typical offer: Candidates will generally need an honours degree from a UK university or an overseas university as an equivalent, as confirmed by UK ENIC (formerly NARIC).Students may also enter with up to 60 Level 7 credits via the Recognition of Prior Learning (RPL).

International applicants: Please see the following link on this website for the entry requirements for international students: https://www.mihe.ac.uk/international-students

Fees and funding

UK and EU

6000

Full-time course per annum. Studying at the Markfield campus.

International

9500

Full-time course per annum. Studying at the Markfield campus.

What's included? The fees includes registration, tuition, examination/assessment marking and graduation. It excludes: study materials, re-examination, residential accommodation, meals, travel, graduation robes and photographs. Please also note that the tuition fees above are for ONE YEAR of study, and therefore, those on undergraduate programmes that are more than one year, will need to pay the above tuition fees for each year of study.

Fees and financial support information

Further international fees information

Career paths

The MA Islamic Finance and Sustainable Development programme would benefit those seeking to work and advance their professional careers in Islamic economics, banking, finance, and sustainable development. Those completing the course can seek employment opportunities in the finance and banking sectors, including Islamic insurance(Takaful), financial regulation, Islamic capital markets, and the investment arena, and become researchers in the field.

Some potential areas where graduates can seek employment include Islamic finance advisor/consultant, investment analyst/portfolio manager (specialising in ethical or Sharia-compliant investments), sustainability analyst/sustainable finance specialist, development economist/policy analyst (working on poverty reduction, inclusive finance, and sustainable development projects), corporate social responsibility (CSR) manager/ESG analyst, Islamic microfinance officer/community development officer, risk management specialist (focusing on ethical and environmental risks in finance), financial regulation and compliance officer (specialising in Islamic finance regulations), academic researcher/academic (in institutions focusing on Islamic finance and sustainable development), and international development consultant/project manager (working with multilateral organisations, NGOs, or development agencies on Islamic finance initiatives for sustainable development).

Graduates can also proceed to PhD Research.

How to apply

All prospective students mustcomplete an online application form on this website. To gain a place at theMarkfield Institute, you must meet our general entry requirements and thespecific entry requirements of your chosen course.

The Admissions Team will review your application and decide whether your application should receive an offer. Specific entrance requirements for individual courses can be found on individual course pages on this website. Entry to our postgraduate programmes usually requires a good Honours degree, or equivalent if you were educated outside the UK.

After considering an application and associated documents, MIHE will email the candidate about the outcome of his/her application. Successful candidates will be sent an offer letter by email informing them about fees and the level and exact title of the course. Unsuccessful candidates will be informed by email.

If you have difficulty in completing the online application form for any reason, please get in touch with admissions@mihe.ac.uk

‍

DISTANCE LEARNING

Distance learning at the Markfield Institute of Higher Education offers students the flexibility to study for their MA from anywhere in the world, without sacrificing academic quality or personal commitments. Through a blend of online resources, digital material, and guided independent study, learners can tailor their study schedule around work, family, or other responsibilities. This mode of study not only removes the need for relocation or daily travel but also allows students to engage with carefully curated course content at their own pace. With expert support from experienced academics and a learning environment designed for accessibility and convenience, distance learners can advance their qualifications and career prospects while maintaining balance in their everyday lives.

‍

Application form