BA Islamic Finance and Accounting

What is this course about?

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 5 GCSE’s (which includes a pass in English) 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 course through Recognition of Prior Learning (RPL), thereby shortening the length of time spent on the degree 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 centres.

Course 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

Year One Modules

Classical Arabic

  • Module Code: BISA 400
  • Credits: 40
  • Core

Assessment:

  • 80% Examination
  • 20% Coursework

Introduction to the Qur’an and its Sciences

  • Module Code: BISA 401
  • Credits: 20
  • Core

Assessment:

  • 100% Coursework

Introduction to Hadith and its Sciences

  • Module Code: BISA 402
  • Credits: 20
  • Core

Assessment:

  • 100% Coursework

Introduction to Islamic Jurisprudence

  • Module Code: BISA 403
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Islamic History: Life of the Prophet() (Sirah)

  • Module Code: BISA 404
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Fiqh Muamalat (Islamic Commercial Law)

  • Module Code: BIFA 400
  • Credits: 20
  • Option

Assessment:

  • Component 1: 40% Coursework
  • Component 2: 60% Examination

Year Two Modules

Research and Information Analysis Skills

  • Module Code: BISA 500
  • Credits: 20
  • Core

Assessment:

  • 50% Coursework
  • 50% Examination

Principles of Islamic Economics and Finance

  • Module Code: BIFA 500
  • Credits: 20
  • Core

Assessment:

  • 100% Coursework

Principles of Islamic Accounting

  • Module Code: BIFA 501
  • Credits: 20
  • Core

Assessment:

  • 60% Coursework
  • 40% Examination

Management Accounting

  • Module Code: BIFA 502
  • Credits: 20
  • Option

Assessment:

  • 60% Coursework
  • 40% Examination

Islamic Finance and Corporate Law

  • Module Code: BIFA 503
  • Credits: 20
  • Option

Assessment:

  • 100% Examination

Introduction to Taxation

  • Module Code: BIFA 504
  • Credits: 20
  • Option

Assessment:

  • 60% Examination
  • 40% Coursework

Organisations and Management

  • Module Code: BIFA 505
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Principles of Islamic Jurisprudence

  • Module Code: BISA 502
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Year Three Modules

Dissertation

  • Module Code: BISA 600
  • Credits: 40
  • Core

Assessment:

  • 100% Coursework

Maqasid al-Shariah (Objectives of Islamic Law)

  • Module Code: BISA 601
  • Credits: 20
  • Core

Assessment:

  • 100% Coursework

Financial and Management Reporting in Islamic Finance

  • Module Code: BIFA 600
  • Credits: 20
  • Core

Assessment:

  • 40% Examination
  • 60% Coursework

Islamic Accounting: Auditing and Assurance

  • Module Code: BIFA 601
  • Credits: 20
  • Core

Assessment:

  • 60% Coursework
  • 40% Examination

Applied Islamic Banking and Insurance

  • Module Code: BIFA 602
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Financial Markets and Institutions

  • Module Code: BIFA 603
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Quantitative Financial Methods

  • Module Code: BIFA 604
  • Credits: 20
  • Option

Assessment:

  • 60% Coursework
  • 40% Examination

Leadership and Change Management

  • Module Code: BIFA 605
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Contact Hours

For 20 credit modules:

  • Scheduled: 48 hours
  • Independent: 152 hours
  • Total: 200 hours

For the normal route, each 20 credit module will have 4 hours/ per week scheduled contact time for one semester (12 weeks), including blended learning activities. 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 examinations/coursework for each module.

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 the subject area. For a list of current staff, please click here.

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 courses, 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. 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

Please see details for the tuition fees for both UK and overseas students at: Fees and Financial Support.