Overview
The MA Islamic Finance is a postgraduate degree focused on the principles and practices of finance that adhere to Sharia law. This course equips students with a deep understanding of Islamic economic principles, ethical investing, and financial instruments compliant with Islamic tenets.
Quick Highlights
| Duration | 2 Years |
| Level | Masters Degree |
| Eligibility | Bachelor's Degree (10+2+3 pattern) with at least 50% marks |
| Entrance Exam | Common Entrance Tests, University Specific Exams |
| Avg Fees | INR 50,000 - 3,00,000 per year |
| Sarkari Jobs | Limited |
Why Study This Course?
Market Demand:
Moderate/10
- Gain expertise in a rapidly growing global financial sector.
- Learn to ethically align financial practices with religious principles.
- Develop skills for specialized roles in Islamic banking and finance institutions.
- Cater to the increasing demand for Sharia-compliant financial products and services.
Who should study?
This program is ideal for graduates from Commerce, Economics, Business Administration, or related fields who are interested in the specialized niche of Islamic finance. It's also suited for professionals working in the conventional finance sector looking to transition or add expertise in Islamic finance, and individuals with a strong interest in ethical and Sharia-compliant financial methodologies.
Eligibility & Admission
Minimum Qualification:
A Bachelor's Degree (e.g., BA, B.Com, MBA, BBA) with a minimum of 50% aggregate marks from a recognized university. Some institutions may have specific prerequisites regarding the undergraduate major or a minimum percentage for male and female candidates.
Entrance Exams
| Exam Name |
Conducting Body |
| University Entrance Exams |
Various Universities |
| SET (Symbiosis Entrance Test) |
Symbiosis International University |
Top Institutes
Selection Criteria:
Merit-based in the qualifying degree, entrance exam scores, and personal interview performance.
Government Hubs
| Government Institutes |
| Jamia Millia Islamia, Delhi |
| Aligarh Muslim University, Aligarh |
| University of Mumbai, Mumbai |
Notable Private Hubs
| Government Institutes |
| Symbiosis International University (SIU), Pune |
| Chitkara University, Punjab |
| ICFAI Foundation for Higher Education, Hyderabad |
Top Cities Offering This Course
Mumbai
Delhi
Pune
Aligarh
Hyderabad
Career Opportunities
Private Sector Scope
Top Industries: Islamic Banking,
Takaful (Islamic Insurance),
Asset Management (Islamic Funds),
Financial Consultancy,
Investment Banking (Sharia-compliant),
Halal Industry Finance
| Role | Average Salary (INR) per Month | Key Responsibilities |
| Islamic Banker | 35,000 - 70,000 | Managing client relationships, offering Islamic financial products. |
| Sharia Auditor | 45,000 - 90,000 | Ensuring compliance of financial operations with Sharia principles. |
| Takaful Underwriter | 30,000 - 60,000 | Assessing risks and determining premiums for Islamic insurance policies. |
| Financial Analyst | 40,000 - 80,000 | Analyzing financial performance and investment opportunities in Islamic finance. |
| Sukuk Structurer | 60,000 - 1,20,000 | Designing and issuing Sukuk bonds. |
Government Sector Jobs
Graduates are eligible for exams conducted by:
Reserve Bank of India (RBI),
Securities and Exchange Board of India (SEBI),
Ministry of Finance
| Designation | Annual Salary (INR) | Job Role |
| Assistant Manager (Finance) | 6,00,000 - 10,00,000 | Managing financial operations, compliance with regulations. |
| Financial Analyst | 5,00,000 - 8,00,000 | Analyzing financial data, risk assessment for Sharia-compliant products. |
| Officer - Islamic Banking | 4,50,000 - 7,00,000 | Handling customer accounts and providing services according to Islamic finance principles. |
IndCareer Editorial Take
Ideal Candidate:
A candidate with a strong academic background in finance or economics, good analytical skills, an interest in ethical business practices, and a desire to work in a specialized, growing financial sector.
Critical Checks before Admission:
- Verify the curriculum's alignment with current industry standards and global Islamic finance practices.
- Check the faculty's credentials and industry experience in Islamic finance.
- Inquire about placement assistance and the success rate of graduates in the Islamic finance sector.
- Confirm university accreditation and recognition by relevant financial bodies.
Common Misconceptions:
That Islamic finance is only for Muslims or that it is synonymous with prohibition of interest, ignoring the intricate global financial mechanisms it employs. It's important to understand its role as an ethical and Sharia-compliant alternative within the global financial system.
State-Specific Note:
While Islamic finance courses are offered across India, institutions in states with a significant Muslim population or strong financial hubs like Maharashtra, Uttar Pradesh, and Delhi often have more specialized programs and industry connections.
Content Accuracy: This content is
curated by experts and verified against current educational standards. While we strive for
accuracy, fees and admission criteria may vary by institute. Please verify with official
sources.
