Master in Islamic Finance

University of Sarajevo School of Economics and Business

Program Description
EFMD Equis Accredited

Master in Islamic Finance

University of Sarajevo School of Economics and Business

The goal of Master studies entitled „Islamic Banking + 2“, which is carried out as a collaboration between the School of Economics and Business Sarajevo (Bosnia and Herzegovina) and University of Bolton (UK), is to acquire additional knowledge from the field of Islamic Banking and Finances. Studies are practice-oriented and have been intended for managers of all levels in banking sector, banking professionals and graduate BA (the First Bologna cycle) students, who see their business future in the banking sector, particularly in the field of Islamic Banking as the fastest growing segment of banking industry. Studies are to be carried out entirely in English language.

We have a full confidence that these studies o School of Economics and Business Sarajevo, being the only one of a kind in the region of Central and Southeast Europe, will enable its students to acquire new, yet ‘different’ competences and skills, and, in this way, create conditions for them to find jobs in a comparatively shorter period of time and to start a successful career in banking industry.

Administrational support for the programme will be carried out through the Center of Islamic Economics, Banking and Finance at the SEBS. All classes will be held at the campus Sarajevo, SEBS facilities.


I Semester

  1. Research Methodology (RM)
  2. Basics of Islamic Law and Economy
  3. Islamic Banking and Finance
  4. Islamic Business Law
  5. Professional Practice – Internship I

II Semester

  1. Financing Models of Islamic Banks
  2. Islamic Insurance-Takaful
  3. Comparative Accounting
  4. Conventional Banking
  5. Professional Practice – Internship II

III Semester

  1. Advanced Islamic Banking and Finance
  2. Islamic Bank Risk Management
  3. Islamic Capital Markets
  4. Investments Analysis from Islamic Banking Perspective
  5. Project – Preparation of the application for Master Thesis

IV Semester

  1. Master Thesis

After completion of this study programme, students will get join award from University of Sarajevo and University of Bolton. Programme is in validation process from Bolton University.

The Programme outcomes

By the end of study programme students will be able to:

  • Describe and evaluate the application of key concept of Islamic economy, banking and finances,
  • Explain and analyse the impact of Islamic economy, banking and finances on global economic movements worldwide (notably in Muslim countries), Europe (particularly in Great Britain), and the regions of Central and Southeast Europe (specifically Bosnia and Herzegovina),
  • Formulate the strategy of appearance and approach to investors and business entities, which prefer ethical principles in their business dealings,
  • Comment and present tea sic concepts of Islamic economy, banking and finances, the advantages and shortcomings, incentives and impediments to the development of Islamic banking and finances in Europe, and, in particular, in Great Britain and Bosnia and Herzegovina,
  • Report, interpret and analyse the primary and secondary data and information from the field of Islamic banking and finances,
  • Use the competences and skills for their advanced research in the field of Islamic economy, banking and finances, and also for the practical work in any given Islamic institutions at home and abroad.

School of Economics and Business Sarajevo

University of Sarajevo and School of Economics and Business Sarajevo (SEBS) is the public/ state Faculty with a long and referent academic background and with a lot of experiences in the international cooperation with other and with accredited international academic programs from European Accreditation Agency EFMD . Also, SEBS has several courses offered in the field of Islamic banking and finance. Also, we have one successful master program supported by BBI bank. Last year SEBS enrolled second generation of the master students in the field of IBEF, and until now about 50 students were in this program (all local students). Also, on the undergraduate level, there is one study program in which Islamic banking is core course, and on all programs Islamic banking and finance could be chosen by students as an elective course. Until now, in last several years, more than 500 students chose and passed this course. Now, SEBS has its own full time employed scholars that teach and research in the field of IBEF and also several scholars from other institutions from Bosnia but and from the other countries (UK, USA). SEBS is the only educational institution in B-H that has been a member of European Foundation for Management Development - EFMD and member of The Association to Advance Collegiate School of Business – AACSB. SEBS has been granted the accreditation by the Austrian Agency for Quality Assurance. At present, SEBS is the only faculty in Bosnia and Herzegovina that holds a European accreditation, which means that this institution and its diplomas will be recognized in the European Education Area. SEBS also introduced quality management system in accordance with ISO 9001:2008. In 2009, SEBS gained certification by Bureau Veritas. Introduction and certification of Quality Management System by ISO Standard verifies SEBS as a successful institution in development and implementation of academic programs for 1st, 2nd and 3rd study cycle of higher education and non-academic degree programs, courses and training according to the Life Long Learning concept.

University of Bolton

The University of Bolton is a public resource for professional knowledge and learning, working with and on behalf of people and organizations to solve practical problems. The University of Bolton is a local institution with international reach. The University traces its educational roots all the way back to 1824 when it opened as one of the first mechanics institutes. Granted university status in 2005, Bolton now has a global student body of around 11,000 - including all campuses and affiliates. The University is based on a modern, compact, town-center campus and the teaching quality has consistently won the highest ratings possible from the Government’s quality control agency. Their strong industry links allows them to provide a large number of professionally accredited courses through partnerships that include several institutions. More than 30 of their courses are professionally accredited, reflecting the industryneeds focus of their courses’ content. In 2013 has seen the launch of Bolton Business School| – housing Business, Law and Accountancy, along with the Centre of Islamic Finance| under one roof. The Centre for Islamic Finance at the University of Bolton is a new initiative to facilitate research and promoting the understanding of Islamic Finance through lectures, conferences and short courses. The Centre for Islamic Finance was launched in 2012 with an inaugural lecture given by Dr Ahmed Ali, President.

This school offers programs in:
  • English
Duration & Price
This course is Campus based
Start Date
Start date
Oct. 2017
2 years
Full time
Bosnia and Herzegovina - Sarajevo
Start date: Oct. 2017
Application deadline Request Info
End date Request Info
Oct. 2017
Bosnia and Herzegovina - Sarajevo
Application deadline Request Info
End date Request Info