Master of Applied Finance (Islamic Banking and Finance)

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Master of Applied Finance

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Accredited by MOHEA

Accredited by the UAE Ministry of Education - Higher Education Affairs

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The Master of Applied Finance (Islamic Banking and Finance) is students looking to work, or who currently work, in an increasingly crucial area equipped with the knowledge and skills to be able to carry out vital Islamic financial operations. This program will keep you up-to-date with the latest changes and well-versed in the intricacies of Islamic Sharia financing and its objectives. You will come to understand the complex Islamic Banking and Investment Products and assess alternative Islamic Insurance (Takaful) and Re-insurance (Re-Takaful) products. On top of this, the syllabus will allow you to develop an in-depth knowledge of the complex relationships between central banks, regulators, markets and society across a range of different Islamic banking and finance contexts.
As a Master of Applied Finance (MAF) student, the compulsory industry-based research subject will prepare you for your current and future management role and will be a highlight of your time at UOWD. Our strong links with  a broad range of financial industry partners in the UAE and across our global network will allow you to investigate financial markets and institutions in depth as part of your program of study, giving you real world experience and the opportunity to develop and apply the skills you have learnt throughout your degree.

Globally accredited, internationally relevant

Because we’re licensed by the UAE Ministry of Education - Higher Education Affairs, through the Commission of Academic Accreditation, our students and graduates can be assured that our degrees are recognised throughout the UAE and internationally. All MAF programs are also quality assured by UOW Australia, which is registered with the Australian Tertiary Education Quality and Standards Agency (TEQSA), the national regulator of higher education in Australia. Upon graduation, students can choose either a degree certificate from UOWD or a degree certificate from the University of Wollongong Australia.


The requirement to graduate from a single specialisation MAF program is twelve (12) subjects. 

The program will normally take you five or six semesters to complete (based on three semesters per year with summer as an optional semester and two subjects per semester). At this rate, the degree can be completed in two years or less. Classes are held 6:00pm - 9:30pm, Sunday to Thursday. Each subject requires one evening of attendance for 13 weeks.

If you have joined UOWD in spring 2016 or later, your program of study is as follows:
Level Subject Code Subject Name
Common Finance Foundation FIN924 Financial Statement Analysis for Business
FIN958 Financial Institutions
ECON939 Quantitative Economic Analysis
TBS907 Financial Strategy
Specialisation Subjects FIN930 Islamic Banking and Finance
FIN931 Advanced Islamic Banking
FIN932 Islamic Insurance (Takaful) and RE-insurance
FIN934 Islamic Capital Markets
FIN959 Enterprise Risk Management
TBS909 Corporate Governance
Electives* FIN925 Banking Theory and Practice
FIN956 Banking, Lending and Securities
FIN955 International Banking
FIN953 Banking and Financial Institution Law
FIN933 Special Topics in Islamic Banking and Finance
TBS905 Economic Analysis for Business
Capstone Project FIN960 Research in Financial Markets and Institutions

*Students are required to choose two electives from the approved list.

If you joined UOWD prior to Spring 2016, please click here.

For more information on fees and scholarships, entry requirements, application procedures,  academic timetabling and information about credit for prior learning, please follow the links below: