B.Sc. in Islamic Economics, Banking and Finance (B.Sc. IBE)

> Course Overview



The International Open University presents the Bachelor’s Degree program in Islamic Banking and Economics. This degree opens the door to a possible career in an exciting, expanding and beneficial field, and is a stepping stone for further studies.

“Allah has permitted trade and has forbidden interest.” (Qur’an, 2:275)

In today’s world flooded with interest based transactions, unlawful bank contracts and investments the need for Islamic banking is increasing. Many countries have recently seen a rise in demand for Islamic banking services. Analysts expect that at the current rate of expansion, in the next 8 to 10 years the Islamic banking network in the UAE will overtake the conventional banking system.

Job opportunities within the Islamic banking field are also on the rise. According to a study by A.T. Kearney, one of the world’s largest management consulting firms, “up to 30,000 new Islamic banking jobs will be required in the Gulf States within the next decade.”

While the Middle East still offers growth opportunities there is big potential for growth in countries such as Indonesia, Bangladesh, India, and countries from North Africa and Central Asia which have a substantial Muslim population.

Program Objective

  is to understand and differentiate between the lawful and unlawful transactions

Admission Eligibility Criteria

HSC (10+ 2) or equivalent


Teaching, Islamic Banking Administrative, Islamic Banking Advisory, Islamic Economist, Islamic Financial Planner, Islamic Finance Analyst

Course Overview

AQD 101Aqeedah 101
ETH 101Etiquettes of Seeking Knowledge 101
FQH 101Fiqh 101
BSA 101Islamic Management 101
ECM 103Principles of Economics (Macro and Micro)
ECM 104Principles of Accounting
FQH 201Fiqh 201
ECM 101Islamic Economics 101
ECM 102Money and Banking
ECM 105Financial Management (Prerequisite: Principles of Accounting (ECM 104))
ECM 106Intro to Islamic Finance
EDU 105Professional Development
ARB 101Arabic 101
FQH 202Fiqh 202
FQH 401Fiqh 401
ECM 201Managerial Accounting
ECM 203Managerial Economics
ECM 204Islamic Capital Markets(Prerequisite: Financial Management (ECM 105))
ARB 102Arabic 102 (Prerequisite: Arabic 101)
HAD 102Hadeeth 102
CVN 101Islamic Civilization 101
ECM 202Investment and Financial Statement Analysis
ECM 205Risk Management
ECM 206International Monetary Economics
ARB 201Arabic 201
HAD 101Hadeeth 101
FQH 302Fiqh 302
BSA 102Organizational Behaviour
ECM 301Islamic Commercial Law
ECM 305Accounting for Islamic Financial Institutions
AQD 102Aqeedah 102
FQH 102Fiqh 102
TAF 101Tafseer 101
ECM 404Economic Planning
ECM 303Islamic Wealth Management
FIN 403International Finance
ENG 101English 101
FQH 301Fiqh 301
ECM 401Corporate Finance
MTH 102Statistics and Econometrics
ECM 302Islamic Financial Markets and Institutions
MGT 107International Management
ECM 406Behavioral Finance
ECM 306Islamic micro finance
ECM 405Cooperative Banking
THS 401Thesis

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