Introduction
Bachelor of Science in Islamic Finance 4 Years, 2.5 Years and 2Years program offered by the Department of Islamic Thought, History, and Culture, Faculty of Arabic and Islamic Studies, Allama Iqbal Open University (AIOU), Islamabad. This program is designed to provide students with a comprehensive understanding of Islamic finance principles, practices, and Shariah principles. The B.S. in Islamic Finance program is developed to equip students with the knowledge and skills necessary to navigate the dynamic industry of Islamic finance while adhering to the principles of Islam. Students will delve into core subjects, including Islamic banking, finance, and shariah principles, complemented by a robust curriculum in Islamic business and economics.
OBJECTIVE
The program objectives for a B.S. in Islamic Finance should align with the overall goals of providing students with a comprehensive education in Islamic finance principles, ethics, and practices. Here are some potential program objectives:
- To develop a deep understanding of the fundamental principles and concepts of Islamic finance, including Sharia-compliant financial instruments, contracts, and transactions.
- To Equip Students with practical skills necessary for analysing, designing, and implementing Sharia-compliant financial solutions in various economic contexts.
- To Cultivate Ethical values and a sense of responsibility in students, emphasizing the importance of social justice and sustainability in Islamic finance practices.
- To Promote Critical Thinking and Research Skills, enabling students to analyze and evaluate financial issues from an Islamic perspective and contribute to the advancement of Islamic finance knowledge.
Eligibility Criteria
- HSSC/Intermediate/Equivalence.
- Matric with Khassah certificate from HEC Recognized Madaris/Boards with the compulsory condition that they will pass three Basic Courses as per requirement of IBCC, before completion of BS Program.
Selection Process
Open Merit
Duration
Medium of Instruction
Teaching Methodology
Open Distance Learning
Total Credits Hours Required
|
Sr. No |
Course Title |
Code |
Cr. Hrs |
|---|---|---|---|
|
1. |
Functional English |
9382 |
03 |
|
2. |
Quantitative Reasoning-I |
9424 |
03 |
|
3. |
Introduction to Sociology, Culture and Society |
9410 |
03 |
|
4. |
Islamic Studies / Ethics (for non-Muslims) |
9401/5437 |
03 |
|
5. |
Application of Information and Communication Technologies |
9384 |
03 |
|
Total Credit Hours |
15 |
|
Sr. No |
Course Title |
Code |
Cr. Hrs |
|---|---|---|---|
|
1. |
Expository Writing |
9381 |
03 |
|
2. |
Basics of Environmental Sciences |
9389 |
03 |
|
3. |
Quantitative Reasoning-II |
9383 |
03 |
|
4. |
Ideology & Constitution of Pakistan |
9378 |
03 |
|
5. |
Entrepreneurship |
5026 |
03 |
|
6. |
Civics and Community Engagement |
9385 |
03 |
|
Total Credit Hours |
18 |
|
Sr. No |
Course Title |
Code |
Cr. Hrs |
|---|---|---|---|
|
1. |
Universal Principles of Personality Development |
4931 |
03 |
|
2. |
Principles of Marketing |
8407 |
03 |
|
3. |
Principles of Macroeconomics |
9302 |
03 |
|
4. |
Principles of Accounting |
5401 |
03 |
|
5. |
Principles of Microeconomics |
9301 |
03 |
|
6. |
Pakistan Studies |
9374 |
03 |
|
Total Credit Hours |
18 |
|
Sr. No |
Course Title |
Code |
Cr. Hrs |
|---|---|---|---|
|
1. |
Objective of Sharia |
1901 |
03 |
|
2. |
Islamic Economic System |
1913 |
03 |
|
3. |
Introduction to Fiqh |
2951 |
03 |
|
4. |
Principles of Islamic Jurisprudence |
2953 |
03 |
|
5. |
Islamic Law of Business Contracts |
3971 |
03 |
|
6. |
Fundamentals of Money and Banking |
8593 |
03 |
|
Total Credit Hours |
18 |
|
Sr. No |
Course Title |
Code |
Cr. Hrs |
|---|---|---|---|
|
1. |
Study of Selected Ayat and Ahadith Related to Ahkam-I |
2952 |
03 |
|
2. |
Introduction to Business Finance |
8594 |
03 |
|
3. |
Social System of Islam |
1909 |
03 |
|
4. |
Bank Operations Management |
5479 |
03 |
|
5. |
Fundamentals of Islamic Capital and Money Markets |
3977 |
03 |
|
6. |
Insurance and Takaful Management |
3979 |
03 |
|
Total Credit Hours |
18 |
|
Sr. No |
Course Title |
Code |
Cr. Hrs |
|---|---|---|---|
|
1. |
Financial Accounting |
5418 |
03 |
|
2. |
Islamic Banking: Theory and Practice |
3970 |
03 |
|
3. |
AAOIFI’s Shariah Standards - I |
3972 |
03 |
|
4. |
Shariah Governance in Islamic Financial Institutions |
3976 |
03 |
|
5. |
Risk Management in Islamic Banking |
3978 |
03 |
|
Total Credit Hours |
15 |
|
Sr. No |
Course Title |
Code |
Cr. Hrs |
|---|---|---|---|
|
1. |
Fahm-e-Quran (Tajwid, Translation & Tafsir) |
4935 |
03 |
|
2. |
Islamic Assets and Funds Management |
3973 |
03 |
|
3. |
AAOIFI’s Shariah Standards - II |
3974 |
03 |
|
4. |
Internship |
3982 |
03 |
|
5. |
Capstone Project |
3985 |
03 |
|
Total Credit Hours |
15 |
|
Sr. No |
Course Title |
Code |
Cr. Hrs |
|---|---|---|---|
|
1. |
Seerat-e-Tayyaba |
3900 |
03 |
|
2. |
Current Issues in Islamic Finance |
3975 |
03 |
|
3. |
Product Development in Islamic Banks |
3980 |
03 |
|
4. |
Management of Islamic Financial Institutions |
3981 |
03 |
|
Total Credit Hours |
12 |
1
2
3
4
5
Semesters
Workshop
The online workshop for each course will comprise of 12 hours, with 2 hours daily for 6 days except for the teaching practice and project as per AIOU policy. Each semester will have a workshop for the courses offered in that particular semester. There will be an online quiz for every course at the end of the workshop.
Assessment Weightage
| Assignments (Weightage) | Workshop (Attendance & Quizzes) (Weightage) | Final Exam (Weightage) | Passing Marks |
| 20% | 30% Quiz | 50% | 50% (in aggregate). However, 40% marks in final exams is mandatory. |
Note: Allama Iqbal Open University (AIOU) reserves the right to amend the fee structure policy, course offering and assessment of courses when required. The existing course(s) will be adopted/adapted as per requirement. The department may change the sequence of the course(s) offering as per availability of course(s).