Introduction
The Master of Arts (M.A.) in Islamic Economics and Wealth Management program is designed to prepare graduates to become distinguished researchers and senior administrators in the institutions of Islamic finance and wealth management in the United Arab Emirates, the Gulf region and beyond.
Instruction will be in Arabic and English.
The Master of Arts in Islamic Economics and Wealth Management program aims to:
- Create awareness of the variety of Islamic financial principles and practices;
- Provide an intellectually stimulating environment in which students can understand and analyze the Islamic financial system;
- Develop the students’ ability to apply the knowledge and skills they acquire to solve theoretical and applied problems using the rulings of Islamic jurisprudence; and
- Equip students with appropriate tools of analysis to tackle the contemporary issues and problems facing Islamic finance at the international and national levels.
Upon successful completion of the program, graduates will:
- Understand the differences between:
ο Islamic versus conventional theories of finance;
ο Banking systems in western versus oriental experiences;
ο Historical versus modern functions of banks; and
ο Major theories of development in western versus non-western traditions.
- Understand financial services and the operations of financial markets, institutions and systems around the globe, including the Islamic ones;
- Relate the basic sources of Islamic jurisprudence and different issues of finance and wealth management in contemporary world;
- Understand the various types of Islamic economic transactions and banking products;
- Appreciate the historical contributions of Islamic economists in dealing with the economic problems of their societies, notably wealth creation and mobilization;
- Comprehend the Islamic theory of ownership and its implications on the rights and responsibilities of Muslims when dealing with their wealth; and
- Apply research methodologies, relevant quantitative methods and computing techniques necessary for formal analysis of the above.
Faculty
The graduate program courses are taught by select professors of Zayed University who have earned doctorate degrees and significant relevant professional experience and expertise. In addition to Zayed University faculty, professionals holding these qualifications are recruited locally or internationally to deliver all or part of some courses.
Curriculum
At the beginning of the program, students take an intensive one-day orientation seminar. The orientation offers a number of workshops to introduce students to the program including Blackboard (virtual classroom software), case study and analysis, library resources, and the writing of reports and reference citations. The curriculum of the Master of Arts in Islamic Economics and Wealth Management program consists of the following courses:
- IEWM 610 Epistemology and Research Methodology
- IEWM 615 Economics and Islamic Legal Theory
- IEWM 620 Islamic Economic Perspectives
- IEWM 625 Economic History of Islamic Societies
- IEWM 630 Sustainable Development: Theories and Applications
- IEWM 635 Ownership and Wealth Distribution in Islam
- IEWM 640 Money and Banking: History and Functions
- IEWM 645 Financial Markets
- IEWM 650 Asset Management in Islamic Finance
- IEWM 655 Risk Management in Islamic Finance
- IEWM 699 Research Project
Course Delivery Format
The Master of Arts in Islamic Economics and Wealth Management program employs proven techniques for imparting training at the graduate level, which include classroom lectures by faculty, scholars, and experts; supplemented by panel discussions, scenarios, simulations, problem solving and case studies with reference to real problems in Islamic economics and wealth management.
The in-class room instruction for each course is conducted during two evenings on weekdays over an eight week period.
The Master of Arts in Islamic Economics and Wealth Management program is delivered over a period of 15 months at Zayed University in Abu Dhabi and/or Dubai.
For more information on the admission deadline, please visit the Key Dates section of our website.
Admission
- Admission is open to males and females of all nationalities.
- Candidates holding an undergraduate degree in any related discipline and proving reasonable experiences in the field of Islamic economics and wealth management may apply to pursue the degree. However, while this program is open to interested graduates of different disciplines of social sciences and humanities, it caters primarily for two groups of students. First, senior administrators of Islamic economics and wealth management institutions. Second, researchers and academics who will be conversant with prevailing epistemological, theoretical, and methodological issues in their specific fields of study and who can contribute to a better understanding of key questions of scholarship and policies on the subject. Applicants may be requested to complete an admissions test during the interview.
- Applicants must have earned a baccalaureate degree with a grade point average (GPA) of 2.5 or higher from an accredited university.
- The Arabic track of the program is delivered in Arabic with designated English language components. The standard English language proficiency requirements for admission is waived as an entry requirement, but English language proficiency must be proved as an exit requirement for students admitted in the Arabic track. Graduates in the Arabic track must, at the exit of the program, have:
An IELTS score of 5.0
A TOEFL paper-based score of 500
A TOEFL computer-based score of 173
A TOEFL internet-based score of 61
- The English track of the program is delivered in English with designated Arabic language components. Candidates in the English track must have:
An IELTS score of 5.5
A TOEFL paper-based score of 550
A TOEFL computer-based score of 213
A TOEFL internet-based score of 79
- Candidates in the English track must have at least:
An IELTS score of 5.5
A TOEFL paper-based score of 550
A TOEFL computer-based score of 213
A TOEFL internet-based score of 79
- Candidates in the English track will be tested for their proficiency in Arab reading.
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For more information on the admission requirements, application procedure and program cost, please visit the Admissions and Fees section of our website.
Graduation Requirement
Graduate students must maintain a minimum grade point average (GPA) of 3.0 in course work taken in fulfillment of the requirements of the master's degree.
