Banking & Islamic Finance Program

Program Description

This program combines theoretical concepts and practical applications with a concentration on Islamic fundamental and Sharia principles, which equips students to associate themselves in the Islamic Banking and Finance industry. With Islamic banking gaining popularity even in predominantly non-Islamic countries, the graduates of the program will be warmly welcomed in conventional and Islamic banks, insurance companies and other financial institutions. The program requires 65 credit hours for completion.

Admission Requirements

• A “General Education Diploma” (GED) with the following conditions: A General Education Diploma (12^th standard) or certified equivalent with a minimum D grade in (pure or applied Mathematics) and English language.

• A minimum of 500 in TOEFL, (or IELTS - 5 overall (academic); or TOEFL IBT-61)[1] or must take the English Placement Test (PT) at UOB.

• Must take the Math and IT Placement Test (PT) at UOB and shall be placed at foundation/credit courses as per the PT result.

• Students enrolled in the GFP will have to complete it in no more than two academic years. 

• Students shall pass the College Admission Test and/or the College Interview as required.

Exemption: A student may be exempted from the Foundation Program area requirements by presenting an equivalent qualification, (IELTS or TOEFL, SAT and (ICDL/IC3 in English) or passing the challenge exam.

Program Objectives

• To develop graduates with the relevant knowledge and skills required to successfully create solutions to basic problems related to banking and Islamic finance.

• To enable graduates to contribute to the society’s progress by developing the skills of research, professional and ethical practice.

Student Outcomes

• Demonstrate an understanding of basic general financial concepts, principles and practices

• Demonstrate  an  understanding  of  basic concepts  and  approaches  related  to Islamic Finance

• Apply financial concepts and principles to solve basic business problems related to general business and financial activities

• Apply the gained knowledge and skills to basic problems related to Islamic Finance

• Analyze a basic problem and design a solution based on an organization’s resources, requirements and needs

• Integrate appropriate regulations, standards and practices in company’s operations

• Work effectively in a team and collaborate with others to accomplish a common goal

• Communicate effectively to a range of audience through oral, written and visual presentation

Career Path

This program combines theories and practical applications with concentration on Islamic fundamental and Shari’ah principles which equip the students to associate themselves in the banking & finance industry.

The program provides students high employability potential in professional areas of Islamic Finance. It is currently estimated that there are more than 1.6 trillion assets held within Islamic banks, and Ernst and Young reports that the top 20 Shariah-compliant banks have grown by 48 percent in recent years. There has never been a better time to pursue a career in Islamic finance. Potential career prospects include;

• International/Regional Banks

• Financial services

• Sharia Expert

• Lending Officer

• Internal Auditor

• Regulatory Specialist

• Risk Specialist

• Accounting

• University Lecturer