Bachelor of Science in Islamic Economics, Banking & Finance (B.Sc. IEBF)
> Frequently Asked Questions (FAQ)
Frequently Asked Questions (FAQ)
What career path can I choose after completing the Bsc IEBF program?
With a BSc IBEF degree, you will have an insight on the philosophy that governs Islamic Finance and its relevance in the conventional finance domain. Not only will we introduce the concepts and terminologies and the products you encounter in the Islamic Finance domain on a day to day basis, but we adopt a critical approach and thereby engage our students in analyzing the existing products in the light of Shariah. This will give them a complete understanding of the product scenario.
As for jobs, you will have a strong chance to enter the Islamic banking domain and work in the frontline department as you will have a basic knowledge of the products.
You can use this knowledge along with market experience to gradually move into the product domain and make a difference in the long run by creating products which will comply with shariah norm.
When does the registration period start?
Registration is open all year round, though we advise you to register right away. You will be able to register in the current semester if the deadline has not passed. If the deadline has passed, you will be registered for the following semester and you may enroll in the courses via the early enrollment system.
Early Registration Period: 1st Oct - 28th Feb
Semester commencement: 1st March
Regular Registration/Enrollment Period: 1st March - 29th March
Early Registration Period: 1st April - 31st August
Semester commencement: 1st September
Regular Registration/Enrollment Period: 1st September - 28th Sept
I want to join the Bachelors program. Where do I begin?
The International Open University is an online educational institution. The entire program is taught online via the internet. Anyone from any part of the world can join easily and benefit from it, In sha Allaah.
Admission is open throughout the year. If a student is admitted and enrollment is closed, he/she will begin his/her studies the following semester.
Please visit this link to know the complete admission process https://iou.edu.gm/stream/process/
What is the minimum required qualification to apply for a Bachelor's Degree?
In order to join IOU’s Bachelor’s program, the students must have concluded their high school qualification in the medium of English.
In order to be admitted to our accredited online Bachelor degree, the candidate must have completed high school. The high school certificate/diploma is the credential awarded to a secondary school student who successfully completes high school level (approximately 12 years of study). Those who have completed further studies and have degrees beyond high school may submit those certificates if they no longer have their high school certificate with them.
The high school diploma must be scanned and uploaded along with a recent color passport size photograph and photo ID. If the diploma and photo are not uploaded, your admission will not be processed. Additionally, the attested copy of these documents are required to be sent to the Graduations Office via email before the completion of the program.
What is the level of English required to join a Bachelor's Degree program?
If my admission documents are not in English, will you still accept them?
In order to make the process easy for the students, IOU has translators available who will translate your documents (for some languages, e.g. Arabic, Urdu, Hindi, Bengali, Bahasa, Russian, Malay). If we do not have translation services available for your language, your non-English high school transcripts and certificates must be fully translated into English and notarized by a notary. You must submit the original transcript along with the translated copy. A copy of the translated notarized copy should be uploaded during the online registration process.
Can a student who doesn't have the minimum required qualification join the Bachelors program?
No, students cannot join this program if they do not meet the admission requirements.
When will enrollment and classes begin?
The International Open University offers two terms each year. The enrollment for Spring semester begins on 1st March while for the Fall semester, it begins on 1st September.
What are the minimum and maximum periods in which the Bachelor's degree may be completed?
The minimum and maximum periods depend on the type of study plan:
Minimum period: 4 years
Maximum duration: 6 years
Minimum period: 6 years
Maximum duration: 9 years
Is it possible for me to complete the course in less than three years? If it is possible, how many courses should I take each semester?
No, this option is not available.. The program can only be studied under a part-time or full-time study plan and can be completed in 4 years minimum if it is done full-time.
What are the semester registration fees?
Click and select your county of residence to see the semester registration fee: https://iou.edu.gm/tuition-fees/
Please check Factor 3 by clicking on the link above.
These are the only fees we charge per semester. The course material is provided free of cost online Additionally, there is an E-Library provided as a study aid for the students.
For new students: No matter when the semester is scheduled to start, once you complete the payment, you will be given access to course material through the Early Enrollment system.
Where does the coursework take place?
The International Open University is an online educational institution. The entire program is taught online via the internet. Anyone from any part of the world can join easily and benefit from it, Insha'Allah.
What if I have a slow internet connection?
It is recommended that the IOU students try to have a high speed internet connection to make the best use of all the services. However, if a student is unable to obtain a high speed connection, we have audio and video lectures available which can be downloaded and saved to listen or watch later. However, as exams are required to be attempted online as well, you must arrange a high speed internet connection to submit exams successfully.
Can I study using Smartphone?
While it is possible to study using smartphones, it might not be an efficient way to do so. This is because certain coursework like Assignments are required to be written and lots of research needs to be done to write the assignments. Hence, it is better that you use Laptop/computer to do the assignments.
Is there a separate fee for learning materials?
There is no fee charged for course materials, which consists of a PDF file. Flash videos and mp3 audios are available for online streaming as well as for download. We also provide an E-Library for students free of charge. If a student wishes to purchase hard copies of the required texts, they may do so from external sources.
How do I take exams?
Module tests can be taken anywhere within the prescribed time. The midterm and final exams must be taken only in an IOU approved exam center. There are several designated IOU centers present across the globe. You may look for a center near your city, prior to the start of semester exams, and register for it. If there is not an IOU approved exam center nearby, you can suggest an exam center and we will approve it even if you are the only student taking exams there, Insha’Allah. Please read the exam center requirements here https://iou.edu.gm/stream/exam-center-requirements/
Is there any exam center fee involved before the exams?
There is no fee charged by IOU separately for examinations. Students only need to pay a modest semester registration fee before enrolling into the semester. This depends on the country of residence of the student. Please click here to see the fees for your country. However, students will have to pay any associated fees to the exam center, if the center administrator/manager demands it .
Can I do this course without taking exams? (Can this program be audited?)
No, this option is not available.
May I know the universities where IOU's graduates were able to take admission in higher/postgraduate studies based on IOU's issued degree?
While it is quite difficult to keep track of this, we have been notified of some of our graduates pursuing postgraduate studies in Indonesia and Gambia.
As IOU has signed Memoranda of Understanding (MoUs) with various universities, will the graduates of IOU be eligible for the admission/credit transfer in the said university automatically?
The onus lies with the applicant seeking credit transfer externally to apply using the standard IOU-issued documents. In the motivation of the application, the student may naturally refer to an MoU in place.
The other university will follow their procedures to determine the validity and scope of the MoU. If the MoU explicitly cites credit transfer/recognition, then the applicant should not face challenges.
However, there are instances where admissions departments of partner universities might not grant credit transfer of some/all courses because the MoU might not have been intended for the purpose of credit transfer, or there could have been changes to syllabi that prevents credit transfer, as courses between IOU and partner university are no longer aligned.
It would be best to check the conditions of the MoU in place with the specific partner university to explore its scope.
Is International Open University an accredited university?
The National Accreditation and Quality Assurance Authority (NAQAA) has granted the International Open University a three year Provisional License to operate as a higher education institution in The Gambia effective 29 April 2019. This license also serves as an institutional accreditation of the International Open University, the Gambia, by the National Accreditation and Quality Assurance Authority.
Moreover, the Ministry of Higher Education, Research, Science and Technology has granted to the International Open University a license to operate an online university in The Gambia with effect from May 13, 2014.
For more information about accreditation click on the given link https://iou.edu.gm/stream/accreditation/
Does IOU have a system for course waivers and credit transfer for Bachelor Degree programs?
No, Course waivers are not applicable for the Bachelor Degree Programs. Credit transfer will only be processed for the courses studied and completed with a passing grade at an accredited university or college. Credit transfers will NOT be accepted for subjects studied in schools or private institutions.
When IOU’s site says it is accredited, does it mean IOU's degrees will be accepted by universities in all countries including US, Canada, Australia, UAE, etc.?
This program is accredited by NAQAA, the accreditation authority in the Gambia. Students originating from other countries may have to complete additional studies and/or training, or fulfill additional requirements to be recognized in their own countries. Such applicants and students are encouraged to validate the recognition they may receive in their countries with the registered and accredited IOU Bachelors degree prior to registration and graduation.
Can I take additional courses from another stream under the Bachelor Degree programs?
No, a student cannot take additional courses under the Bachelor Degree programs.