The Bangor University graduate programme at BIBF is one of the most successful undergraduate programmes in the country. A combination of the exceptional academic programme and the unparalleled learning environment at BIBF have lent to the success of the degree. Graduates are also favoured by the local banking industry.
Islamic Finance has witnessed an exponential growth trajectory in the past decade, with Islamic Banks operating across more than 20 countries and 6 continents and boasting growth rates double to that of conventional banks. As a result, there is now more than ever, a critical need for banking professionals who are grounded in their understanding of the substance and form of Islamic Finance. The Diploma in Islamic Finance offers a qualification addressing the needs of both Islamic and conventional financial institutions providing Islamic Banking services and products.
- Knowledge and understanding of foundational subjects relevant to Islamic Finance.
- The conceptual and practical framework of Islamic Banking operations.
- Basic principles of Islamic banking, the importance of risk in Islamic banking and the current Islamic banking regulations in Bahrain.
- Understanding of the Islamic Fiqh and Islamic principle of Waqf.
- Knowledge of Fiqh Mu’amalat in economic activities.
- Knowledge of the theory of contract (nazariat aJ- ‘aqd).
- Knowledge of various juristic opinions on commercial transactions.
- Understand the differences between Islamic Economics and its conventional counterpart, in terms of it’s world view, methodology, systems, and other essential categories.
- Understand the different types of Islamic investment models.
- Knowledge of the operation modes and practice of Islamic insurance nature and principles of Islamic insurance , framework of Islamic insurance , structure of Islamic insurance markets.
- Knowledge of trusts laws in Bahrain including the financial trusts laws.
- Understand the scope of auditing in Islamic Financial Institutions.
- Understand the role, responsibilities and duties of the Shari’a Supervisory Board and the external auditor in an Islamic Financial Institution.
- Understand the need for and objectives of Islamic accounting and accounting for Islamic banks.
- Understand the accounting implications of Islamic banks in contrast to conventional banks and implement them into practice.
- Understand the operational aspects and modes of finance used by Islamic banks and their application in various sectors of the economy.
ii) Subject-specific skills
- Application of theoretical knowledge to actual situations as given in assignments, case studies and project work.
- Critical assessment, evaluation, application and decision making capabilities in every subject/discipline.
- Acquire advanced skills in related areas of Shari’a Audit.
- Apply the principles of Fiqh Mu ‘amalat to their daily economic and business activities.
- Apply Islamic transactions as alternatives to current business practices.
iii) Cognitive (thinking) skills
- Develop analytical skills.
- Develop decision-making skills.
- Analysis and practical application of various theories and models. This will be reinforced through case studies and assignments for all subjects.
- Make Judjements where data or information is limited or come from the range of sources.
- Develop skills to differenciate between Islamic and conventional business/banking transactions.
Iv) Key skills
- Communication and report writing
- Information technology and computer skills
- Problem solving
- Study skills
- Working with others
- Time management
High School Graduates
1. High school diploma and either IB Diploma (minimum score 24) or 3 GCSE A levels (minimum 260 tariff points)
2. Proof of proficiency in English (if not a native speaker): IELTS UK VI test; minimum score of 6.0
Duration 2 Years (Diploma) + 1 Year (B.Sc.) either in Bahrain or U.K
Lectures Mix of experienced full and part time lecturers
Dates Semester I: September – December / Semester II: February – June
|Bangor Year I- Islamic Finance Diploma|
|ACC1101||Introductory Financial Accounting|
|QM1101||Quantitative Methods I|
|MGT1101||Principles of Management|
|ECO1102||Money and Macroeconomics|
|Dealing Room Session|
|Bangor Year II- Islamic Finance Diploma|
|IF2108||Accounting, Auditing & Governance for Islamic Financial Institutions|
|IF2103||Islamic Commercial Banking|
|MKT2101||Principles of Marketing|
|Bangor Year III- Banking & Finance (B.Sc.)|
|Advanced Investment Theory & Practice|
|Investment & Investment Banking|
|Money & Banking|
BHD 4,000 per year