Academic Programs

Master in Islamic Banking and Takaful

Rationale

Over the past two or three decades, Islamic banking and Takaful industry has emerged as another viable way of financial intermediation. It has gained credibility and has spread worldwide and is the preferred way of banking for one fifth of the world’s population. Our Master in Islamic Banking and Takaful is a dynamic program catering the needs of Islamic financial and Takaful industry. It provides rigorous training in specialized areas of Islamic finance, Takaful industry. Alongside an in-depth understanding of current issues including moral and ethical perspectives – Program develop the analytical and research skills to work in a range of general and subject-specific Islamic finance and Takaful areas. Islamic Banking industry is lacking in the Shariah Advisor, so this program helped in fulfilling the need of qualified Shariah board advisor.  This program provides a unique perspective on banking, finance and Takaful industry, combining conventional and Islamic views, enabling students to compare, contrast and learn the best of both.

Program Objectives

  • To produce scholars of international standing in Islamic Finance.
  • To promote research in the field of Islamic Banking and Takaful industry.
  • To meet the demand for experts in Islamic Banking and Takaful industry in Pakistan and worldwide
  • To help and facilitate the Islamization of Pakistan Banking Industry

Foundation Courses

  • Management of Organizations
  • Management Application of ICT
  • Statistical Methods for Management Decisions
  • Communication for Managers
  • Financial Accounting Analysis
  • Entrepreneurship and Managing SMEs
  • Marketing Management
  • Building Sustained Comparative Advantage
  • Research Methods

Core Courses

  • Introduction to Islamic Banking and Finance
  • Islamic Economics
  • Islamic Jurisprudence
  • Introduction to Risk and Takaful
  • Deposit and Finance Operations of Islamic Banks
  • Takaful and Actuarial Practices
  • Islamic Banking History

Applied Courses

  • Islamic Financial Reporting
  • Islamic Capital Markets
  • Islamic Microfinance
  • AAOIFI Standards: Theory and Practice
  • Risk Management in Islamic financial institutions
  • Ethics and Governance of Islamic Financial Institutions
  • Investment Analysis and Portfolio Management - Islamic Perspective
  • Corporate finance and Financial Management
  • International Islamic Finance
  • Islamic Financial Instruments Management: Cash Flow Analysis
  • Takaful Industry in Pakistan
  • Islamic Financial Management

Projects

  • Final Project

Career Opportunities

Successful graduates of this program can find placements in Islamic Banks and Takaful institutions. They can also be employed as teachers, trainers, financial analysts and consultants in the educational and consultancy sectors. The program also grooms the participant to work as Shariah Advisor on various value added financial products and services to customers in accordance with the Shariah principals. The range of careers encompassing Islamic based financial management include banking industry, accountancy, Financial advisory, product development, Investment management, research , Risk Management and Islamic Insurance (Takaful).

Admission Criteria

A prospective applicant to a 16 Years equivalent Masters program must have:

  1. 14 Years qualification with 50% marks in case of annual system in the degree awarding institution.
  2. 14 Years qualification with 2.0/4.0 CGPA in case of semester system in the degree awarding institution.
  3. In case of an equivalent foreign qualification, an equivalent certificate from Higher Education Commission is mandatory.
  4. In case the foreign degree/transcript is in any language other than English or Urdu, an officially translated copy of the degree/transcript is mandatory.
  5. An officially translated copy is the one verified by the degree awarding institution, respective foreign ministry or an authorized public notary.

SPA Brochure (Pdf)

Program Head
Mr. Tahir Mahmood
Email: tahir@umt.edu.pk

Research Associate
Ms. Faiza Aslam
Email: faiza.aslam@umt.edu.pk

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