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Master of Applied Finance (Islamic Banking and Finance)

The UOWD's Master of Applied Finance - Islamic Banking and Finance in UAE is suitable for students and professionals who are keen to acquire critical knowledge and skills in areas related to Islamic banking and finance. This highly sophisticated program will equip you with the knowledge and skills to be able to carry out vital Islamic financial operations whilst keeping 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.

18 - 24 months

Spring - January
Summer - May
Autumn - August

Fees per subject
AED 8,967
USD 2,443
(VAT 5% inclusive)


Attend our upcoming open days and meet our academic and admissions staff to find out more about your chosen program. Register now!

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.

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 and Quality 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.

Program Duration

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:

Program Structure

Level Subject Code Subject Name
Common Finance Foundation FIN924 Financial Statement Analysis for Business
FIN958 Financial Institutions
ECON939 Quantitative Economic Analysis
TBS907 Advance Managerial Finance
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
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 one electives from the approved list.


Program Leader

Dr Vikash Ramiah

Dr Vikash Ramiah
Associate Professor
PhD, RMIT University; Master of Finance, RMIT University; Diploma of Management, RMIT University; BSc (Hons) UOM

Dr Vikash Ramiah is an Associate Professor at the University of Wollongong in Dubai, and currently teaches International Financial management on undergraduate level and Portfolio Simulation and Financial Strategy on postgraduate level...

Read more


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:

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