B.Sc. in Islamic Economics, Banking and Finance (B.Sc. IBE)
> Frequently Asked Questions (FAQ)
Frequently Asked Questions (FAQ)
What are the minimum and maximum periods in which the Bachelor's degree in Islamic Banking and Finance may be completed?
B.Sc. IBE is a four year degree program (8 semesters - 6 courses per semester) which may be completed in a minimum of 3 years (6 semesters - if students take more than full course load, 9 courses per semester) and a maximum of 12 years (24 semesters). Students can take between one to six courses per semester, but the entire program has to be completed within a maximum of twelve years.
What if one fails to complete the curriculum in the maximum assigned duration?
The maximum duration allowed for completing the accredited B.Sc. IBE program is 12 years. If a student exceeds the allotted time duration without completing the required number of courses, then he/she will need to repeat their oldest courses on case to case basis. So,in case if one enters in the 13th year of study he/she has to repeat their first and second semester courses. If one enters into his/ her 14th year; then third and fourth semester courses have to be retaken by the student, so on and so forth.
Can I receive a Master's degree or a Doctorate through International Open University?
The International Open University offers MA in Islamic Studies and it has launched its own PhD program Alhamdulillah. The details can be found here: https://iou.edu.gm/stream/phdi
Where does the coursework take place?
The International Open University is an online educational institution. The entire program is taught online via internet. Anyone from any part of the world can join easily and benefit from it, Insha’Allah.
What if there is slow internet connection?
It is recommended that IOU students try to have a high speed internet connection. However, if a student does not have a high speed connection, he/she can download audio and video lectures which can be listened to or watched later.
Is there any fee involved before the exams?
There is no fee for examinations. Students only need to pay a small 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 fees directly to the exam center, if the center administrator/manager requests it (usually the centers do not ask for any fees).
I want to join the B.Sc. IBE program. Where do I begin?
The International Open University is an online educational institution. The entire program is taught online via internet. Anyone from any part of the world can join easily and benefit from it, Insha 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.
The registration form is available here:
You will get a reply form the registrar regarding your admission confirmation and fee payment details in a few days, Insha Allaah.
Before you begin the registration process, make sure you have the required scans (a scan of your HSC or certificate and a recent color photograph) ready on your PC.
What does the enrollment process entail?
Upon the completion of the 3 registration steps, the payment of the fees included, you will receive an email with the enrollment instructions few days before the beginning of the semester during the regular enrollment period. If you have completed the registration before or after the regular enrollment period, you may enroll via the early enrollment system by visiting this link. Please note that you have only two attempts to enroll. Therefore, you should choose your courses carefully. Staff will be able to help you only if there is some genuine reason.
When will enrollment and classes begin?
The International Open University offers two terms each year.
Spring semester - March to July
Fall semester - September to January
The exact dates for the enrollment during the regular period, which is at the beginning of the semester, are announced on the site news before the semester begins. The early enrollment for those who want to enroll during the non-regular period can be accessed via this link.
When does the late 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 into courses via the early enrollment system.
The deadlines of registration are broadly divided into three categories:
Early Registration Period:
Spring: beginning of October to mid-February
Fall: beginning of April to mid-August
Regular Registration Period:
Spring: mid-February to mid-March
Fall: mid-August to mid-September
Late Registration Period:
Spring: mid-March to end of March
Fall: mid-September to end of September
Registered students will be sent the exact dates of each semester a couple of weeks before the semester starts.
What are the tuition fees?
Alhamdulillaah, all the courses offered are completely free, but we charge affordable semester registration fees.
Please see here for details
Click here and select your county of residence to see the course fee
These are the only fees we charge per semester. The course is completely tuition free, and the course material is also provided free of cost. 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 materials
What is the level of English required to join IOU B.Sc. IBE?
The course content is explained very clearly with the help of lectures recorded by the instructors and recorded supplementary sessions conducted by the tutorial assistants. You can contact the teacher if you have any questions about course content. Although the courses are simplified as much as possible, it is preferable that you first register for a free diploma course http://islamiconlineuniversity.com/opencampus and try to complete at least one diploma course. If you are able to understand the lectures and texts of the free diploma course, then you should be able to study in the B.Sc. IBE program with no difficulty inshAllah.
Please note that If you realise later that you are not able to understand course content and need to withdraw from the program, there will be no refund. We, therefore, request that you pay only after careful consideration.
If my transcripts 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). Please check with us to see if we have a translator for the language your certificate is in. If we do not have translation services available for your language, your non-English high school transcripts and certificate 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.
What is the minimum required qualification to apply for B.Sc. IBE?
To apply for the B.Sc. IBE program, the candidate must have at least a high school diploma. The high school diploma must be scanned and uploaded along with a recent color passport size photograph. If the diploma and photo are not uploaded, your admission will not be confirmed.
Can a student who doesn't have the minimum required qualification join the IOU B.Sc. IBE program?
The requirements to enter a bachelor's degree program in any country is completion of 12 years of study. To accommodate students who do not have a high school diploma but want to study in an organized Islamic banking and economics program and obtain a certificate, IOU has started the Advanced Diploma program, which offers the same courses as the B.Sc. IBE program. Students from both the B.Sc. IBE program and the Open Education Program are taught in a similar manner and given the same course materials. Students can access the same supplementary sessions conducted by the same tutorial assistants. The only difference is the certificate given. For more information, click here. http://www.islamiconlineuniversity.com/bec/streams.php The semester registration fees is the same for any stream you choose.
The semester registration fees is the same for any stream you choose as the manner we conduct the study for all our students is the same.
Can I do this course without taking exams
To enable the students who do not wish to take exams but acquire the knowledge of Islamic banking and economics taught in an organized structure, we have introduced the Audit courses stream. The Audit courses stream gives all the above possibilities to a students but they are exempted from taking tests and exams and submitting assignments. If they wish, they can take tests and research and submit assignments, but they will not fail if they do not do so.
Audit courses stream is for those people who want to complete the B.Sc. IBE courses without having to prepare for exams. The duration of the semester is the same as for B.Sc. IBE and so is the fee structure. After the semester completes, the students graded for auditing the courses. And at the end of their study they are given a certificate of auditing the courses from IOU, Insha Allaah.
I forgot my password, what should I do?
In order to reset your password, click on the 'forgotten password' button located just under the login fields. If your password reset was not successful and you are still unable to log in, email email@example.com. Please do not create a new account; having multiple accounts with IOU is not allowed under any circumstance.
I forgot my login credentials and I cannot recall my IOU registered email ID, what should I do?
If you forgot your login details or are unable to access your old email account, kindly email firstname.lastname@example.org. Please do not create a new account; having multiple accounts with IOU is not allowed under any circumstance.
Can I take extra courses that are not part of the curriculum of my program?
Yes, you may take courses from other IOU degree, diploma or certificate programs. This includes courses that are outside the integral part of their program.
These extra courses will appear on a student's permanent academic record with the final course mark and noted as "EXT". However, they are not included in calculating the student's Grade Point Average.
What are the minimum and maximum periods in which the Certificate in Business Administration may be completed?
Certificate in Business Administration is a 2-semester program that can be completed in a minimum duration of 1 year or in maximum period of 3 years.
How do I take exams?
Module tests and midterm exams can be taken at home within the prescribed period. The final exams must be taken only in an IOU approved exam center. There are several designated IOU centers across the globe. You may look for a center near you before the exams begin and register for it. If there is no IOU approved exam center nearby, you can suggest an exam center and if it will meet our requirements, we will approve it even if you are the only student taking exams in it, Insha’Allah. Please read the exam center requirements by clicking on the link http://www.islamiconlineuniversity.com/cba/requirements-exam-center.php
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, it is not allowed to complete the program in less than 3 years time period.
Is an English language certification like TOEFL or IELTS required?
No. English language certification is not a requirement for any of the IOU programs. However, you should be aware that English is the medium of instruction for the entire program and you need to have a good command over the language to enroll into the program. You must display the ability to communicate effectively in terms of reading, writing and speaking fluently in English. This is vital for your success as a university student.
What will happen to the uncommon courses when I change my stream? Will my grades for such courses be recognized and mentioned in my final transcript.
Yes, these uncommon courses will appear on the student's permanent academic record with the final course mark and noted as "Additional Courses". However, they are not included in calculating the student's Grade Point Average and do not count towards the degree, diploma or certificate credit.
When IOU’s site says it is accredited globally, does it mean IOU's degrees will be accepted by universities in all countries including US, Canada, Australia, UAE, etc.?
We cannot claim that ALL universities will accept IOU's degrees, as it each country has its own practices and standards for recognition of university credits and studies, accreditation and/or recognition of prior learning (RPL). As such, IOU can only focuss on meeting requirements for registration, accreditation and endorsement in our host countries. Through international higher education conventions, a registered and accredited university of a particularly country is recognized globally, however, some countries and universities may reserve the right not to recognize another’s qualifications - which is completely beyond the control of the degree-issuing university. The Islamic Online University (now renamed to the ‘International Open University – The Gambia’) is fully registered and accredited with the Ministry of Education, Culture and Higher Education in the Somali Federal Republic. Our newly-relocated head offices are in The Gambia. We are registered with the National Accreditation and Quality Assurance Authority (NAQAA) of Gambia and awaiting finalization of our institutional accreditation. The ‘Islamic Online University’ also holds provisional registration with the National Council of Higher Education (NCHE) in Malawi. We have multiple satellite campuses in various countries world-wide that operate under the registration and accreditation obtained in our host countries (Somali Federal Republic, The Gambia, and Malawi). Whilst every effort is made to fulfill, meet and maintain registration and accreditation requirements in our host countries; as per international practice, the recognition of IOU-issued qualifications in non-host countries is at the discretion of their relevant national councils, that have diverse criteria for accepting foreign qualifications. As such, we encourage all our students not residing in our host countries to validate the recognition of the qualification with their national authorities. IOU is governed by the regulations and quality assurance practices and policies of our host countries.
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.
How is it that IOU is accredited by the Somalia's Ministry of Culture and Higher Education however, the institution as per the credentials is located in The Gambia? So is IOU following the Gambia standards and legislation or Somalia?
IOU is registered and accredited in Somalia. This was the first country in which IOU received full registration and accreditation. IOU then subsequently applied for registration in Gambia and has established a headquarters there. The finalization of registration is underway in The Gambia. We hope to conclude the finalization soon, In sha Allah. IOU also has provisional registration by the National Council of Higher Education in Malawi. We are also busy with the finalization of registration in Malawi currently. Once full registration is granted in Gambia and Malawi, IOU will then shift completely over to their systems and legislation.
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.
Does IOU accept students of other institutions or recognise work experience as learning?
Is International Open University an accredited university?
International Open University is globally accredited. However, institutions may have a list of colleges and universities that they consider acceptable. So, it is recommended that you check with the institution where you might want to do further studies or seek employment.
For more information about accreditation click on the given link https://iou.edu.gm/stream/accreditation/
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.