This degree is a first in the¬†UK and aims to respond to the growing interest in Islamic Finance, which is evidenced by a continuous increase in Islamic Banking services, Islamic Investment and other financial services based on Islamic principles.
The degree is taught jointly with¬†INCEIF (International Centre for Education in Islamic Finance), Kuala Lumpur and has many key benefits including:
- Available via two methods of delivery: 12 months including a period studying at INCEIF in Kuala Lumpur, and 9 months at Reading only which includes a compulsory research project
- Jointly taught with a respected university in Islamic Finance
- First degree in¬†UK with Islamic material taught by Islamic specialists
- Professional qualification from INCEIF
- Opportunity to study in¬†Kuala Lumpur for 3 months
The degree will not require any previous knowledge of Islamic Law or specific Islamic concepts but will address and explain the respective current issues within their overall Islamic economic and legal context.
Among the teaching staff are two leaders in the field of Islamic Finance: Professor Rifaat Ahmed Abdel Karim who is the Secretary-General of the¬†Islamic Financial Services Board¬†(IFSB)¬†and¬†Simon Archer¬†whose research focuses on Islamic financial institutions and is co-editor of the book Miller European Accounting and Islamic Finance: Innovation and Growth.
All students will qualify for exemptions from parts of the Chartered Islamic Finance Professional (CIFP) qualification from INCEIF if they successfully pass the MSc programme.
||Minimum 2:1 or the equivalent from an overseas institution*.|
||Any discipline ‚Äď no quantitative requirement.|
* Please note that due to increasing competition for places on our Masters programmes our entry requirements may change.
We operate a rolling admissions system and you are therefore advised to apply early in order to be sure of your place on our programmes. We are experiencing high levels of demand for 2013 entry, and it is possible we will have to close applications to some programmes once places are filled.
Proficiency required for international students enrolling in this degree for entry in September 2013 will be:
TOEFL (Test of English as a foreign language): Overall score of 100 for the internet based test, with no less than 22 in Reading, 21 in Listening, 23 in Speaking and 21 in Writing.
IELTS (British Council International English Language Test):¬†Score of 6.5 overall with no component less than 6 when attending the 6-week pre-sessional English course offered by the University of Reading. Entry to this pre-sessional course with a score of 6.5 fulfils your English language requirement.
Please note that students not attending a Pre-Sessional course will need to pass IELTS with an overall score of 7 and no component less than 6.5. For more options please see http://www.reading.ac.uk/islc/ or email a member of the Postgraduate Admissions team.
For more details, contact: email@example.com
|Msc Investment Banking and Islamic Finance (12 month option incl. Malaysia)||¬£20,500|
|MSc Investment Banking and Islamic Finance (9 month UK only option)||¬£19,500|
Fees are the same for both EU and overseas students.
Fee structure for the¬†flexible and distance learning programmes¬†is for the length of the entire programme (ie 18 months or 24 months respectively)
Living expenses are in addition to the above fees. Overseas full-time participants can expect to spend approximately ¬£9,400 on additional living expenses during the course of their studies. Home/EU full-time participants can expect to spend approximately ¬£8,000 on additional living expenses during the course of their studies. Flexible participants can expect to spend approximately ¬£5,000 during their part 2 studies.
Please note that the living expenses detailed in the paragraph above are for study at the¬†University of Reading, details of living expenses in Kuala Lumpur will be available in due course.
How to apply
Full-Time MSc Applications
The ICMA Centre operates on a rolling admissions basis, meaning that prospective students can apply for our programmes throughout the year, however we do advise to apply early in the year. We aim to return a decision within 4-6 weeks of receiving your application.
This programme is available via two methods of delivery:
1. With overseas study components at INCEIF. On this option, students will spend the three ordinary terms at Reading and then attend a fourth term (studying 20 credits) from June to August at INCEIF (the Global University in Islamic Finance) in Kuala Lumpur, Malaysia. At INCEIF students will also benefit from combinations of industry visits, a one day Capital Market Course by the Securities Industry Development Corporation (SIDC), and industry talks.
2. Full time in Reading. This option involves the completion of a compulsory Research Project (20 credits) in the Spring term and the programme is completed in 9 months, with graduation in July.
Full-time:¬†12 months (Students will be resident and under take full-time study in the UK and Malaysia)
Full-time: 9 months (Students will be resident and undertake full-time study in the UK only)
Oct-Dec 2011:¬†Part 1 - ICMA Centre, University of Reading, UK
Jan 2012:¬†Part 1 Exams, Reading, UK
Jan - Apr 2012:¬†Part 2 - ICMA Centre, University of Reading, UK
May 2012:¬†Part 2 Exams, Reading, UK
Jun-Aug 2012:¬†Part 2 - INCEIF, Kuala Lumpur, Malaysia
Aug 2012:¬†Part 2 Exams - Kuala Lumpur, Malaysia
Do I need to take GMAT?
If you are unsure as to the need to take GMAT (Graduate Management Admissions Test), please apply without taking it. We will advise in the form of a conditional offer if we think that it is necessary for you to take it. Obtaining a good score in the quantitative section of the test can support your case at the Admissions Committee. The GMAT is not a mandatory requirement for applications to the MSc programme, but can enhance an application. More information about the GMAT can be obtained at¬†www.mba.com.
When is the deadline for applications?
There is no fixed deadline for full-time applications. However, you are advised to apply early, as the admission process can take up to 4-6 weeks to complete. Places become very limited from June onwards. You are encouraged to telephone the Centre after that date to clarify the situation.
Deadline for Flexible and Distance Learning applications: Wednesday 14th August 2013.
How long will it take to receive an answer to my application?
The admissions process will take up to 4-6 weeks from receipt of a completed application. We will endeavour to process your application sooner, however, the delay is normally due to outstanding supporting documents.
My referee has sent his reference direct, is this OK?
Yes. We keep all references and match them with applications when they are received.
Who decides on the suitability of an application?
Each application is considered by the Admissions Committee, made up of academic members of staff and the Admissions Officer.
How do I pay the ¬£1000 deposit and when is the deadline?
By Sterling cheque payable to the¬†University of¬†Reading¬†by credit card or bank transfer.
Applicants accepted on to an ICMA Centre MSc programme should pay their deposit by the deadline indicated in the ¬†recommendation e-mail from the ICMA Centre.
Where do I send my information proving that I have fulfilled my conditions?
Send this information to the Postgraduate Admission Office, the ICMA Centre will be automatically updated. Their full address is:Postgraduate Admissions Office Henley Business School
University of Reading
PO Box 218 Reading
Am I qualified to do this programme?
We can only give a considered answer to this question if we have received a completed application form and supporting documents. Without this information it is difficult to make any evaluation of your previous qualifications.
To whom should I address any queries about my application?
All queries should be addressed to the Admissions Team:¬†firstname.lastname@example.org.
Does the ICMA Centre provide funding? If not, how do I fund the programme?
A range of scholarship awards are available. Please refer to the¬†ICMA Centre Scholarships¬†pages for further details.
How do I arrange accommodation?
All enquiries concerning accommodation should be directed to Student Services, telephone number +44 (0)118 378 5555.
Careers in Islamic Finance
IBIF graduates will benefit from a thorough understanding of Western banking practices allied to the principles of Islamic Finance. There is a growing demand from financial institutions worldwide for specialist professionals trained in the techniques of Islamic Finance. We expect our graduates will pursue rewarding careers with investment banks in a diverse range of fields, including corporate and project finance, specialist structured products and derivatives, trade finance, sales and trading.
In addition, they will be well-qualified to join specialist Islamic financial institutions, regulatory agencies, investment managers, consultancies and the finance divisions of multinational corporations.
For more information regarding graduate destinations, please visit¬†www.icmacentre.ac.uk/careers.
Professional Development and Accreditation
ICMA International Fixed Income and Derivatives (IFID) Certificate
Students who successfully complete this degree including the module International Securities Markets will be granted this certificate.
Chartered Islamic Finance Professional (CIFP)
The degree covers the materials necessary to qualify for Part 1.
Further information is available regarding exemption criteria in¬†MScs and Professional Qualifications.