Introduction
The Master of Arts in Islamic Economics and Wealth Management program prepares participants to become distinguished researchers and senior administrators in the institutions of Islamic economics and wealth management in the United Arab Emirates, the Gulf region and beyond.
Objectives
The program aims to:
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create awareness of the variety of Islamic financial principles and practices;•
provide an intellectually stimulatingenvironment in which students can understand and analyze the Islamic financial system;
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develop the students’ ability to apply the knowledge and skills they acquire to solve theoretical and applied problems using the rulings of Islamic jurisprudence; and•
equip students with appropriate tools of analysis to tackle the contemporary issues and problems facing Islamic finance at the international and national levels.Learning Outcomes
Upon successful completion of the program, graduates will:
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understand the differences between•
Islamic versus conventional theories of finance;•
banking systems in western versus oriental experiences;•
historical versus modern functions of banks;•
major theories of development in western versus non-western traditions;•
understand financial services and theoperations of financial markets, institutions, and systems within Islamic countries and around the globe including the Islamic ones;
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relate the basic sources of Islamic jurisprudence and different issues of finance and wealth management in contemporary world;•
understand the various types of Islamic economic transactions and banking products;•
appreciate the historical contributions of Islamic economists in dealing with theeconomic problems of their societies, notably wealth creation and mobilization;
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comprehend the Islamic theory of ownership and its implications on the rights andresponsibilities of Muslims when dealing with their wealth; and
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apply research methodologies, relevant quantitative methods, and computing techniques necessary for formal analysis of the above.Faculty
The courses are taught by select professors of Zayed University who have doctorate degrees and significant relevant professional experience and expertise. In addition to Zayed University faculty, professionals also holding these qualifications are recruited locally or internationally to deliver all or part of some courses.
Curriculum
At the beginning of the program, students take an intensive one-day orientation seminar. The orientation offers a number of workshops to introduce students to the program including Blackboard (virtual classroom software), case study analysis, library resources, and the writing of reports and reference citations.
The Master of Arts in Islamic Economics and Wealth Management program offers students the choice of study between the broadening track (for students who want to broaden their educational experience) and the research track (for students whose life goals include career paths where research experience is an asset or who intend to continue to doctoral study).
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IEWM 610 Epistemology and Research Methodology•
IEWM 615 Economics and Islamic Legal Theory•
IEWM 620 Islamic Economic Perspectives•
IEWM 625 Economic History of Islamic Societies•
IEWM 630 Sustainable Development: Theories and Applications•
IEWM 635 Ownership and Wealth Distribution in Islam•
IEWM 640 Money and Banking: History and Functions•
IEWM 645 Financial Markets•
IEWM 650 Asset Management in Islamic Finance•
IEWM 655 Risk Management in Islamic Finance•
Broadening Track: MXXX 6XX Elective I (chosen from current courses offered in other IIWS master’s degree programs)•
Broadening Track: MXXX 6XX Elective IIother IIWS master’s degree programs)
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Research Track: IEWM 699 Research ProjectCourse Delivery Format
The program is delivered in Arabic and English over a period of 15 months at Zayed University in Abu Dhabi and Dubai. The in-class room instruction for each course is conducted in Arabic and English during two evenings on weekdays over a nine week period.
Admission Requirements
Admission is open to males and females of all
nationalities. Applicants must have earned a four-year baccalaureate degree in any related discipline with a GPA of 2.5 or higher from an accredited university. In addition, applicants must have reasonable experience in the field of Islamic economics and wealth management. Applicants may be requested to complete an admissions test during the interview. The English language requirements are as follow:
Broadening Track Delivered in Arabic
(With designated English components)
Research Track Delivered in Arabic
(With designated English components) Exit Requirement
• A “Pass” on the Cambridge KET
Exit Requirement
• IELTS score of 5.0
• TOEFL paper-based score of 500
• TOEFL computer-based score of 173
• TOEFL internet-based score of 61
Broadening Track Delivered in English
(With designated Arabic components)
Research Track Delivered in English
(With designated Arabic components) Entry Requirement
• IELTS score of 5.5
• TOEFL paper-based score of 550
• TOEFL computer-based score of 213
• TOEFL internet-based score of 79
• Proficiency in Arabic reading
Entry Requirement
• IELTS score of 5.5
• TOEFL paper-based score of 550
• TOEFL computer-based score of 213
• TOEFL internet-based score of 79
• Proficiency in Arabic reading
All Arabic language students are initially enrolled in the broadening track. The language requirements must be completed as early as possible but prior to graduation. The requirements to transfer from the broadening track (delivered in Arabic) to the research track (delivered in Arabic) are as follow:
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Transfer to the research study track must occur not later than upon the completion of the 8th course;•
Entry requires the demonstration of IELTS 5.0 or equivalent;•
The student must be in good academic standing; and•
The student must have the recommendationfrom the Graduate Program Representative.
Graduation Requirements
Graduate students must maintain a minimum grade point average (GPA) of 3.0 in course work taken in fulfillment of the requirements of a graduate degree.