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 - February
Summer - June
Autumn - September

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

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.

Accreditation and Recognition

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 recognized 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 specialization 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 at 6:00 pm - 9:30 pm, Sunday to Thursday. Each subject requires one evening of attendance for 13 weeks.

Program Structure

If you have joined UOWD in spring 2016 or later, your program of study is as follows:

Common Finance Foundation

  • FIN924 Financial Statement Analysis for Business
  • FIN958 Financial Institutions
  • ECON939 Quantitative Economic Analysis
  • TBS907 Financial Strategy

Specialization 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


  • 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.

Program taught in:

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Last updated March 18, 2019
This course is Campus based
Start Date
June 22, 2019
Sep 16, 2019
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8,967 AED
Average Cost Per Subject: AED 8,967/USD 2,443 (VAT 5% inclusive). Additional fees may apply
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Start Date
June 22, 2019
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Start Date
Sep 16, 2019
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June 22, 2019

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Sep 16, 2019

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UOWD's Master of Applied Finance