Thesis and non-thesis Masters Programs in Islamic Economics and Finance contain comprehensive and multidisciplinary curricula to provide qualified human capital required for development both in theory and practice.

MS program with thesis consists of 21 credit-hours (60 ECTS) coursework and seminar, while the non-thesis program has 30 credit-hours coursework (66 ECTS). MS with thesis is designed for those who target academic career, while the non-thesis is suitable for those working/planning to work in the field and for the entrepreneurs. However thesis is not required in non-thesis MS, a project must be submitted at the end of coursework. A typical MS with thesis can be completed within two years, while it usually takes one semester more to complete the non-thesis MS. the classes are held in the evening period in the non-thesis program.

All those who have an undergraduate diploma can apply for both programs. However, an ALES (Entrance to Graduate Studies Exam in Turkey) score and fair level of GPA are required for the MS with thesis program. The ultimate decision is made following an interview by the admission committee. The candidates are ranked from the highest to lowest in terms of total score and those who have the highest score are accepted, limited to the quotas defined for each program. Some students may be asked to take undergraduate level courses before registration to the normal courses to complete the scientific preparation.

Courses Offered in MS Programs

  • Introduction to Interest-Free Banking
  • History and Institutions of Fiqh
  • Institutional Foundations of Islamic Economics
  • Comparative Economic Systems
  • Accounting of Participation Banks
  • History and Thought of Islamic Economics
  • Comparative Finance
  • Islamic Capital Markets
  • Islamic Insurance (Takaful)
  • Theory of Contract in Islamic Jurisprudence
  • Arabic-1
  • Seminar
  • Financial Markets and Institutions
  • Money and Capital Market Transactions in Islamic Jurisprudence
  • Money and Monetary Policy in Islamic Economics
  • Fiqh Thought
  • Risk Management in Islamic Finance
  • Financial Analysis
  • Product Development in Islamic Finance and Case Studies
  • Fiqh Muamalat
  • Islamic Banking Transactions
  • Arabic-2


PhD Program

The first PhD program in Islamic Economics and Finance in Turkey was launched by Istanbul University. Like the MS programs, it has the most comprehensive curriculum among the others. However a Master’s degree in any area is required for the admission officially, those who have Masters in Islamic or conventional economics and finance are preferred.

The program consists of 24 credit hours (60 ECTS) coursework and a seminar. Once the coursework is completed, each candidate must pass the qualification exam, and prepare a PhD dissertation. The students become entitled to “doctor of philosophy in Islamic economics and finance” if their dissertation are accepted.

Courses Offered

  • Contemporary Financial Transactions and Interest-free System
  • Makasidi Shariah
  • Property, Ownership and Market in Islam
  • Financial Contracts in Islam
  • Economic Growth and Growth Models
  • Debt Law in Islam
  • Labor in Islam
  • Arabic-3
  • Seminar
  • The Institutional Foundations of Islamic Economics
  • Evaluation of Forward Contract in terms of Fiqh
  • Factor Revenues in Islam
  • Financial Theory
  • Risk Management in Islamic Finance
  • Interest-Free Finance Standards and Auditing
  • Arabic-4


Continuous Education and Certificate Programs

In today’s fast changing world, the certificate programs that give the opportunity to obtain the contemporary knowledge and skills in a short time have become quite widespread beside the formal higher education. Especially suitable to managers and entrepreneurs who have too little time for education in the course of high-speed business environment, these programs provide the education opportunity in many areas. Our center will launch certificate programs in Islamic finance in a near future. In addition to its intensive content, the primary advantage of this program is its flexible nature that allows to be structured and executed according to the participants’ demand.