Last Updated on Monday, 05 September, 2016 04:18:30 PM

International Center for Education in Islamic Finance
(INCEIF)

www.inceif.org

www.isra.my


Background of INCEIF
• Established by the Bank Negara Malaysia in Dec 2005
• Governed by INCEIF Governing Council (IGC)
• Professional Development Panel (PDP) acts as an academic senate
• First intake of CIFP Students – June 2006
• Conferred University Status – Dec 2006
• First intake of PhD Students – Jan 2008
• First intake of Masters Students – June 2008
• First Graduation of CIFP Students – February 2009


INCEIF’s Value Proposition


• Only university dedicated to the teaching and research in the area of Islamic finance and banking in the English language
• It combines the study of Shariah, theories of finance and practical issues in its curriculum and modules that were developed together between industry, Shariah experts and academia
• Governance and faculty are organised to have a good balance between industry and academia
• Students encouraged to spend time in industry to gain practical knowledge
• International Shariah Research Academy in Islamic finance is now under INCEIF. Promote dialogues between Shariah scholars to push the boundaries of knowledge and to achieve congruence in many areas


As in 2013, Malaysia has :

1) 414 Private colleges
2) 37 Private universities
3) 20 Private University-colleges
4) 7 Foreign branch campus
5) 20 Public universities


The CIFP Programme:

(Chartered Islamic Finance Professional)

 


• Aimed at producing high calibre professionals with the necessary technical skills and knowledge in Islamic finance
• Combines industry specialists and renowned scholars to provide a highly qualified teaching faculty to ensure a holistic blend of academic learning and financial industry practical experience
• Divided into three parts, each part offers comprehensive course modules that will strategically prepare candidates to build knowledge, skills, competencies and experience as they enter the Islamic financial services industry
• The teaching faculty will supplement candidates with topical reading materials throughout the course at INCEIF
• The CIFP is accredited as equivalent to a Masters degree with total credit hours of 48 hours including 6 hours for internship


Chartered Islamic Finance Professional

PART 1 1. Shariah Aspects of Business and Finance
2. Shariah Rules in Financial Transactions
3. Islamic Economics
4. Islamic Capital Market
5. Wealth Planning and Management
6. Reporting of Islamic Financial Transactions
7. Deposit and Financing Operations of Islamic Banks
8. Islamic Financial Institutions and Markets

 
PART 2 1. Shariah Issues in Modern Islamic Finance
2. Structuring Financial Requirements
3. Risk Management of Islamic Financial Institutions
4. Managing Islamic Financial Institutions
5. Ethics and Governance
6. Takaful and Actuarial Practices
 
PART 3 1. Internship/Articleship (6 Months)

Teaching Approach

Language of Instruction and Delivery
• English Language
• Either by full-time or distance learning online studies

Methodology
1. Lectures
2. Case Studies
3. Simulations
4. Classroom discussions
5. Field Visits

Teaching Aids
• Printed Materials / Recommended reading

Faculty Members
• Academics with industry experience
• Industry practitioners

The Masters Programme


The MIF programme is designed for academics and practitioners who wish to broaden their research as well as to fast track their career in Islamic finance. The programme will provide the candidates with:
• a strong foundation in the principles and practice of Islamic finance;
• a substantial base of new concepts and knowledge; and
• new skills, analytical tools and perspectives which provide a sound basis for financial decision‐making. The programme can be completed within two to four years.
 


Programme Details

 

MIF by Coursework

• Total credit hours : 46 including 6 for project paper MIF by Coursework and Dissertation

• Total credit hours : 46 including 21 for dissertation


Admission requirements
1- A bachelor’s degree or an equivalent professional qualification from a recognised institution.
2- Demonstration of proficiency in English.


The Courses

MIF by Coursework MIF by Coursework & Dissertation
Core Courses
Accounting for Islamic Financial (3)
Transactions (3)
Usul Fiqh and Qawaid Fiqhiyyah (3)
Fiqh Muamalat (3)
Research Methodology (3)
Financial Econometric (3)
Islamic Economics (3)
Islamic Finance (3)
Corporate Finance (3)
Risk Management in Islamic Institutions (3)
Islamic Por􀆞olio Management (3)
Valuation (M & A) (3)

 


ELECTIVES (ANY TWO)
Islamic Law of Contracts (3)
Islamic Partnership Corporate & Securities Law (3)
Islamic Wealth Planning Management (3)
Mathematical Methods (3)
Econometrics I (3)
Project Paper (6)

 

Core Courses
Accounting for Islamic Financial
Transactions (3)
Usul Fiqh and Qawaid Fiqhiyyah (3)
Fiqh Muamalat (3)
Research Methodology (4)
Financial Econometric (3)
Islamic Economics (3)
Islamic Finance (3)


ELECTIVES (ANY TWO)
Islamic Law of Contracts (3)
Islamic Partnership Corporate & Securities Law (3)
Islamic Wealth Planning Management (3)
Mathematical Methods (3)
Econometrics I (3)
Corporate Finance (3)
Valuation (M & A) (3)
Risk Management in Islamic Institutions (3)
Islamic Por􀆞olio Management (3)


The PhD Programme:

 

INCEIF’s PhD programmes are structured to allow candidates to develop the technical and intellectual ability to enable them to pursue doctoral research across a broad range of areas in Islamic finance.

•The PhD by Coursework and Dissertation is designed for candidates who will benefit from exposure to Islamic finance and are interested in pursuing research in Islamic finance.

• Total credit hours required for graduation : 64 hours including 6 hours of specialisation and 24 hours for dissertation

•The PhD by Research is designed for candidates with industry exposures and experiences.

• Total credit hours required for graduation : 64 hours comprising 22 hours of coursework and 42 hours of research for thesis.

The INCEIF PhD is industry‐driven and is based on strong academic fundamentals, emphasising robust and rigorous knowledge in Islamic finance.


Duration of Study

  FULL  TIME
(months)
PART  TIME
(months)
PhD by Full Research    
Minimum 24 48
Maximum 60 72
     
     
PhD by Coursework and dissertation    
Minimum 24 36
Maximum 60 72

The Courses


Core

1- Islamic Economics (3)
2- Corporate Finance (3)
3- Islamic Finance (3)
4- Accounting for Islamic Financial Transactions (3)
5- Usul Fiqh and Qawaid Fiqhiyyah (3)
6- Islamic Law of Contracts (3)
7- Fiqh Muamalat (3)
8- Research Methodology in Economics and Finance (4)
9- Econometrics I (3)
10- Econometrics II (3)
11- Econometrics III (3)


Specialization

A. Takaful Operations (3), Islamic Risk Management (3)
B. Islamic Banking (3), Islamic Portfolio Management (3)
C. Islamic Capital Market (3), Islamic Wealth Management (3)
Dissertation/Thesis (24 / 42)

The numbers in bracket denote the required credit hour


Affiliations with Universities

• 12 Local Universities in Malaysia
• University of Chulalongkorn, Thailand
• Assumption University of Thailand
• University of Science and Technology, Yemen
• Air Langga University, Indonesia
• Universitas Indonesia, Indonesia
• Universitas Sumatera Utara, Indonesia
• University of Reading, UK
• Universitas Islam Negeri Sunan Gunung Djati, Bandung
• Universitas Makassar
• University of Bahrain
• National University of Science & Technology, Pakistan
• University of Gezira, Sudan


Distance Learning from Private Universities

6 Private Universities and 2 Public University are offering long distance learning programmes in Malaysia

These are the Eight Higher Learning Institutions offering open long distance learning programmes in 2013:
1) Al-Madinah International University
2) Universiti Tun Abdul Razak
3) Wawasan Open University
4) Malaysia Open University
5) Asia e University
6) International Centre for Education in Islamic Finance

7) Universiti Putra Malaysia
8)
The School of Distance Education (SDE) Universiti Sains Malaysia


Collaboration with University of Reading, United Kingdom

Key Benefits:

• Jointly taught by faculty members of INCEIF and University of Reading

•Leads to a post graduate degree from the University of Reading

•Leads to professional qualification from INCEIF, subject to completion of further papers

•Provides opportunity to study alongside Islamic finance professionals

•Students spend 9 months in the Reading campus and 3 months in INCEIF, Kuala Lumpur


Affiliations with other institutions

• Islamic Development Bank, Saudi Arabia
• Meezan Bank, Pakistan
• Ceylinco Business Group, Sri Lanka
• 5 local Takaful operators in Malaysia
• LPPI, Indonesia
• NIBAF, Pakistan
• Emirates Institute of Banking and Financial Studies, Sharjah, UAE
• Sudan Academy for Banking and Financial Sciences, Sudan
• Central Bank of Syria, Syria


International Shariah Research Academy (ISRA)

Strategic Objectives:

• Address current gap in active applied Shariah research in Islamic finance eg product innovation, risk mitigation techniques & tools, liquidity management & hedging

• Talent enrichment – financial savvy Shariah scholars & Shariah savvy financial practitioners

• Provide platform for proactive stakeholders engagement – practitioners, scholars, regulators, academicians via research & dialogues

• Base for Shariah convergence and mutual respect, with Malaysia’s proactive involvement and influence

International Centre for Education in Islamic Finance


September 05, 2016 04:18:30 PM

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