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Executive Diploma in Islamic Finance & Entrepreneurship

The Executive Diploma in Islamic Finance & Entrepreneurship is an intensive programme that allows business and non-business graduates and professionals in the public, private and NGO sectors to acquire the necessary tools and skills to pursue a successful career in entrepreneurship and Islamic finance.

  • Tuition fees: £5,800
  • Programme level: SCQF Level 11
  • Start date: September or January
  • Study mode: Full-time
  • Duration: 1 year

What will I study?

This 120 Credits programme will be delivered online starting January 2024

The Executive Diploma in Islamic Finance & Entrepreneurship is designed to instil the knowledge, skills and mindset needed to thrive in an entrepreneurial environment. This is done through a programme which consists of three complementary components:

Academic – The programme aims to provide clarity of thought in a confusing Islamic finance world. The academic lectures offer the latest academic thinking and frameworks in Islamic economics, finance, commercial law, management and business ethics to help students to chart their own path. The blended learning environment combines face-to-face interactive teaching with incorporated video, text and small group work to provide the most useful and rigorous experience that still allows flexibility and real-time application.

Practical – This part of the programme aims to prepare you to apply the academic knowledge in real-time. You will meet industry practitioners and learn about emerging entrepreneurial challenges in Islamic economics and finance that they are facing or have faced, and the solutions they found to overcome them. These interactions will help you to expand not just your industry-specific knowledge but also shape the way you approach your own venture challenges.

Community – This component is essential for entrepreneurs and it aims to build a vibrant network to allow you to discover new opportunities, raise your profile, increase the visibility of your business and create a human centric impact. The purpose of Islamic economic developmentalism is to create functional individuals who can help themselves and their families and gradually expand ihsani society to wider stakeholders. To facilitate the process of building a valuable network with a community, you will be brought into contact with alumni and industry experts of Islamic finance.

The Executive Diploma in in Islamic Finance & Entrepreneurship is part of a suite of Professional qualifications in Moral Economy & Finance. You may also be interested in the Professional Diploma in Islamic Banking & Finance or the Diploma in Moral Economy & Sustainable Development. 


There are routes available from this Diploma into MBA programmes. For more information on this and the University of Dundee’s Global MBA programme, please click here.

Students who complete the Diploma will be eligible to gain either MSc Moral Economy and Sustainable Development from Abertay University or  will have advanced access to Global MBA  from University of Dundee Business School.

Route 1: MSc Moral Economy and Sustainable Development from Abertay University

120 credits will be required to take the dissertation (MBA556), Econometrics Data Modelling (ANC703) and Corporate Governance and Management (AMC707)

Route 2: Global MBA from University of Dundee Business School after completing two modules and dissertation

Download the programme Handbook

What will I learn

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 a specific area of interest. You will also have an opportunity for an in-depth exploration of a specific issue relevant to Islamic finance in your project report where you 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, you 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 your most significant programme-specific endeavour to put your 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 your own venture.

Programme information

Entry requirements

  • An honours degree from a UK university, or equivalent
  • In addition, professional experience* may be also recognised for enrolment in the course

*Applicants who do not meet the formal entry requirements may be asked to attend an interview. 

This programme may be suitable for:

  • Those who are seeking to work and advance their professional careers in the Islamic economics, banking and finance industry

English Language requirements 

Teaching takes place solely in English and you must demonstrate that your English language proficiency is at a level that will allow you to follow your intended programme successfully.

If English is not your first language you must hold a qualification as evidence of your English language skills. Full details of the qualifications we accept, can be found here.

Student Visa requirements for study in the UK

The UK Government approves certain English language qualifications as being Secure English Language Tests (SELT). These meet the government’s requirements for visa applications.

Al-Maktoum College will accept the following:

  • IELTS – 6.0 (Minimum of 5.5 in each component and 6.0 in writing) or equivalent
  • LanguageCert – B2 or equivalent

Full entry requirement information can be found here

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.


Each 20-credit unit compromises 200 hours of learning; this is made up of 40 hours of teaching and 160 hours of independent study.

Classes are made up of lectures, seminars and tutorials and you will have 2 hours of contact teaching per week.

You should apply directly using the College online application system and your application will usually be assessed within 3 working days. We my contact you to provide further information or to invite you to a short informal interview.

Please make sure you have the following information before starting your application:

  • Academic transcripts and qualification certificates
  • Proof of English language proficiency (if required)
  • Passport details
  • Referee details

We consider all aspects of the application: academic qualifications, personal statement and references.

All correspondence will be sent from after an application of study has been submitted and you should direct any questions there.

Compulsory unit information

Islamic Moral Economy and Finance

This unit develops a critical understanding of the origin and evolution, concepts and aims of the Islamic moral economy at 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.

Theoretical and Practical Entrepreneurship

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.

Research Skills and Project Report

This unit provides an opportunity for you to develop further as an independent learner through the completion of a supervised project, 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 your analytic skills, which are essential aspects of conducting independent projects. At the end of the unit, you will be required to produce a mini dissertation of 6,000 – 8,000 words.

Optional unit information

Raising Finance: Islamic Financial Models and Institutions

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 and others. The unit also develops deeper analytical and theoretical insights of regulatory frameworks and instruments of Islamic commercial law used in a range of contexts.

Managing and Assessing Growth and Constraints in Small Businesses

Assessing the growth and constraints 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 you to embark on anything that might undermine the sustainability aspects.

Islamic Management

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 explores 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 models.

Sustainability and Ethics

This unit evaluates the influence of ESG issues inherent in the objectives of Islam (Maqasid al-Shariah) 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 (Maqasid al-Shariah) can be employed with financial metrics to assess the risks and opportunities of responsible investment decisions.

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