Master of Science in Islamic Economics, Banking and Finance (MSc IEBF)

> Frequently Asked Questions (FAQ)

Frequently Asked Questions (FAQ)

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.

Spring Semester:

Early Registration Period: 1st Oct - 28th Feb

Semester commencement: 1st March

Regular Registration/Enrollment Period: 1st March - 29th March

Fall Semester:

Early Registration Period:: 1st April - 31st August

Semester commencement: 1st September

 

Regular Registration/Enrollment Period: 1st September - 28th Sept

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/

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.

No, students cannot join this program if they do not meet the admission requirements.

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.

This program is only available as a full time study plan. The minimum and maximum periods for full time are as follows:

Minimum period: 2 years

Maximum duration: 4 years

No, this option is not available.. The program can only be in a minimum period of 2 years and maximum period of 4 years.

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.

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.

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.

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.

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.

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/

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.

This option is not available for the Master's Degree Program.

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.

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.

The National Accreditation and Quality Assurance Authority (NAQAA) has granted the International Open University (IOU) a four-year full license to operate as a higher education institution in The Gambia, effective February 23, 2023. Previously, NAQAA had granted a three-year provisional license in April 2019, which was extended in 2022.

However, absolute recognition of an IOU degree worldwide cannot be guaranteed by IOU due to varying requirements for international degree recognition across different countries. Some countries' local laws have yet to recognize distance or online learning, and they have not established policies for online and international universities. Therefore, it is best to check the recognition your country affords to online universities and the IOU in particular.

While every effort is made to fulfill, meet, and maintain registration and accreditation requirements in our host countries, the recognition of IOU-issued qualifications in non-host countries is at the discretion of their relevant national councils, which 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 their qualification with their national authorities. IOU is governed by the regulations and quality assurance practices and policies of our host countries.

We encourage you to check this list of accrediting institutions that have accepted degrees from our students. They may also accept other IOU degrees at their discretion: Graduate Acceptance List

For more details on accreditation, please visit: Accreditation Information

No, Course waivers and credits transfer options are not available for the Master Degree Programs.

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 Masters degree prior to registration and graduation.

No, a student cannot take additional courses under the Master Degree programs.

Applicants should be competent in English as a language of teaching and learning (LOTL).
Undergraduate applicants who have English as an additional/foreign language are required to achieve a minimum of IELTS 6.0 with 5.5 in each component or equivalent. Students may submit their IELTS (6.5) / TOEFL (document attached) scores if they have completed it.
Alternatively, for students whose countries' official language is not English and/or they have not completed their high school / bachelor's in English medium, will sit for an English test at IOU. (the countries' list is available here) There is a standard $20 fee to pay for the English proficiency test. We will flag the students from the Registrar's Office to sit for the test, and an outstanding tag will be added for them to pay. Once paid, they will be automatically enrolled in the English Placement test. Once they have taken the test, based on their score:
(i) they may pass and have admission confirmed with us for their desired stream (score 72-100%),
(ii) if they score (42-70%) they need to take English Support Course for 1 semester along with gaining conditional admission in their desired program of study at IOU,
(iii) scores 12-40% will require the applicants to enroll first in IOU's English Preparatory program for 1 academic year and pass it, before proceeding with their admission in the desired program. Complete details are available in this URL: https://iou.edu.gm/stream/english-for-academic-purposes-placement-test-eapp/

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.

Career paths for graduates of this programme include: Academicians, advisors, Islamic banking and finance professionals, Shariah auditors, Shariah finance consultants and independent practitioners. Upon completion of the programme, the student will be awarded the Master of Science in Islamic Economics, Banking and Finance (MSc IEBF)

The general minimum requirement for admission into a Master’s degree programme at IOU is:
• A relevant 4-year bachelor’s degree (480 credits) or its equivalent, or
• A relevant Honour’s degree (HEQF L8/ISCED exit level 6),
• A relevant postgraduate certificate or diploma (HEQF L8/ISCED exit level 6)

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