The core taught units provide an in-depth academic, practical skills and applications in Islamic finance. The optional units enable students to develop in-depth knowledge and understanding in area of their interest. Students will also have an opportunity for an in-depth exploration of a specific issue relevant to Islamic finance in their project report where they need to demonstrate mastering of practical skills of Islamic finance and entrepreneurship.
Each unit draws on the practical experience of experts from the field to complement the theoretical components of the units offered. Guest lecturers share their experiences from the field to develop appreciation of Islamic finance and business in the real world.
Mentoring is an integral part of the programme. At the beginning of the programme, students will meet your mentor, who will provide one-to-one guidance for the duration of the programme.
Mentors are experienced academics and entrepreneurs with a wide range of expertise in many Islamic financial industries. Mentors are a point of consistency throughout the full duration of the programme.
The project report will be students’ most significant programme-specific endeavour to put their entrepreneurial knowledge into practice. This 6,000-7,000-word report requires a comprehensive analysis of a business opportunity; in most cases, this will be the student’s venture.
This programme is approved and credit-rated by the Scottish Qualifications Authority (SQA). It is available on a full-time or part-time basis.
The programme comprises 120 credits at SCQF level 11.
The programme is delivered full-time comprising two semesters.
Part-time basis (one-year) and block delivery may also be available.
|Academic requirements||An honours degree from a UK university, or equivalent.
In addition, professional experience will be also recognised for enrolment in the course.
|Work experience||Not required, however professional experience will be recognised for enrolment in the course|
English language requirements
International applicants who require a Tier 4 visa to study in the UK will need to ensure that they have an IELTS test from a UKVI approved test centre.
Applicants would need to have achieved an average score of 6.5 in their IELTS test (with a minimum of 6.0 in each of the four sub-components of language learning (reading, writing, speaking and listening).
Full entry requirements can be found here
The programme aims to provide a high-quality professional level study that comprises three inter-related elements:
The programme is comprised of compulsory and optional units.
|Unit||SCQF level||Credits||Compulsory/ optional||Start date|
|Islamic Moral Economy and Finance||11||20||Compulsory||September|
|Theoretical and Practical Entrepreneurship||11||20||Compulsory||September|
|Research Skills and Project Report||11||20||Compulsory||September|
|Raising Finance: Islamic Financial Models and Institutions||11||20||Optional||January|
|Managing and Assessing Growth and Constraints in Small Businesses||11||20||Optional||January|
|Sustainability and Ethics||11||20||Optional||January|
This unit develops a critical understanding of the origin and evolution, concepts and aims of the Islamic moral economy at a micro and macro levels, including Islamic finance as practical tool of Islamic economics. The unit covers a number of themes including: an overview of the foundation of Islamic moral economy and economic analysis of the prevailing theories, Islamic macroeconomic theories and the major structural themes of Islamic economics related to the voluntary sector, prohibitive elements in market transactions, and appraisal of the factors of production from an Islamic perspective.
This unit examines the sources, concepts, and principles defined by Islamic ontology. Everyday practice of businesses and management can be different; and therefore, this unit draws upon the ‘normative’ and ‘positive’ discussion on management issues in Islamic and everyday life of Muslim societies. Examples of entrepreneurship from the Muslim world, which incorporate cultural and religious elements will be presented and discussed. In particular, the module develops a critical insight into the combined tool of entrepreneurship, social entrepreneurship, and Islamic finance, to reduce poverty, empower people and contribute to sustainable development.
This unit provides an opportunity for students to develop further as independent learners through the completion of a supervised study, which can include some elements of research carried out in a fieldwork context. It also explores a range of methods appropriate to a range of disciplines including entrepreneurship, banking and finance, management, and sustainable development and aims to develop students’ analytic skills, which are essential aspects of conducting independent project.
At the end of the unit, students will be required to produce a mini dissertation of 6,000 – 8,000 words.
This unit examines the concepts, types, frameworks and techniques of Islamic finance available for the community to raise the required funds for embarking on the business enterprise. It explores Islamic financial products, the types of Islamic financial and capital markets, Islamic financial instruments available, the nature of trading, advanced Islamic financial instruments, Islamic finance innovation such as crowd financing, fintech etc. The unit also develops deeper analytical and theoretical insights of regulatory frameworks and instruments of Islamic commercial law used in a range of contexts.
Assessing the growth and constrains is central in operations of business enterprise, both from business and regulatory perspectives. From a business perspective, profitability and stability of business depend on efficiency of overcoming the obstacles imposed by different stakeholders. On the constraint side, the focus is on impediments both from the industries as well as moral values which do not allow to embark on anything that might undermine the sustainability aspects.
This unit provides an overview in relation to the developments and changes that have taken place in management science and practice leading to current management models. By using the ontological sources and epistemological approach, Islamic principles in relation to management are identified. The unit also introduces and explore authentic Islamic approaches to motivation within a business or workplace setting. Leadership is explored as one of the main principles and functions of management. Various theoretical frameworks for corporate governance are discussed as a base to present and rationalise Islamic corporate governance model.
This unit evaluates the influence of ESG issues inherent in the objectives of Islam (Maqāṣid al-Sharīʿah) on shaping responsible organisation/business and Islamic finance operations (particularly SRF – socially responsible finance – and SRI – socially responsible investment). In addition, it examines how ESG issues inherent in the objectives of Islam (Maqāṣid al-Sharīʿah) can be employed with financial metrics to assess the risks and opportunities of responsible investment decisions.
Teaching for all compulsory and optional units will be delivered through a blended model of face-to-face and digital teaching methods.
The Executive Diploma in Islamic Finance & Entrepreneurship is beneficial for those who are seeking to work and advance their professional careers in the Islamic financial industry or they are looking to start their own business based on value principles of Islamic moral economy. This programme provides a strong practical basis for Islamic economics, commercial law and Islamic financial instruments. Those completing the course will be able to seek employment opportunities in the finance and banking sectors including Islamic insurance, financial regulation, and the investment arena, as well as for becoming entrepreneurs.
The College provides a conducive environment for its learners and staff in terms of facilities. More importantly, the College promotes multiculturalism as encapsulated in its vision and philosophy. The College is also situated near the city centre of Dundee close to the Universities of Dundee and Abertay as well as the Dundee College.