MBA – Islamic Finance

Program Learning Outcome

At the end of the program, students will be able to : 

  • Apply theories & concepts in the decision making process in the business enviroment.
  • Conduct research with minimal supervision.
  • Generate solution to problems using scientific and critical thinking skills.
  • Adhere to legal, ethical & professional codes of practice.
  • Communicate effectively in a business context, both orally & in writing.
  • Demostrate the skills & principles of like long learning in their academic and career development.
  • Work & function effectively in a team.
  • Demonstrate managerial & leadership qualities in organizational context.
  • Identify and develop business opportunities.

 

Programme Structure

46 Credits

(27 Credits)

Strategic Management

Code: MBSA 1213

Pre-Requisite Course(s):

  • Accounting for Business Decision Making
  • Marketing Management

Synopsis: In this course, participants are given strategy concepts for knowledge and applications both at the organizational and the strategic business unit (SBU) levels. The development of strategic thinking permits participants to approach complex organizational scenarios and opportunities from a larger perspective, particularly in the context of globalization of businesses, and with regard to business operational strategies as they relate to the overall corporate strategies of the organization. This course also focuses on the development and implementation of marketing and implementation plans of its corporate and strategic business units according to the ever-changing global market environment. Simultaneously, this course explores effective management of corporate, business model and operational strategies towards gaining competitive advantage for business organizations.

Leading Talent in Organizations

Code: MBSA 1623

Pre-Requisite Course(s): None

Synopsis: In this dynamic and global business environment, effective leadership and outstanding human resource are the keys to organizational success. This course focuses on equipping students with the knowledge and competencies to lead, manage and develop talents in organizations. The course is built upon the foundations of leadership and human resource management disciplines. Students will learn to lead talents by understanding the behaviors of individuals, groups and organizations as a whole, and achieving talent professionalism as well as organizational effectiveness through human resource management activities.

Accounting for Business Decision Making

Code: MBSA 1413

Pre-Requisite Course(s): None

Synopsis: This course is designed to expose participants to important issues in accounting relevant to business organizations. Its main aim is to provide knowledge and develop a general understanding of how these issues are relevant and affect business operations. Participants are taught on how to interpret financial statements and understand the implications for their organizations. The course also discusses the various costing concepts and methodologies to help build awareness on the importance of cost and profit, so that participants will be cost conscious and strive for productivity and profitability as they ethically perform tasks at their workplace.

New Venture Creation

Code: MBSA 2313

Pre-Requisite Course(s):

  • Accounting for Business Decision Making
  • Marketing Management

Synopsis: Entrepreneurship education is an integral component of business education since it focuses on recognizing a business opportunity, starting a business based on the recognized opportunity and sustaining that business. As well realized, successful entrepreneurship requires more than merely luck and money. Education provides skills and tools to the process of creativity, innovativeness, risk taking and planning to ensure higher survivability. This course is designed to provide a contemporary perspective on the theory, process and practice of entrepreneurship. It also focuses on important aspects of the business start-up process with a business model canvas as the grand outcome. The development processes are applicable to both small business and corporate environments.

Business Research

Code: MBSA 1713

Pre-Requisite Course(s): None

Synopsis: Understanding of organizational issues requires managers to know the methodologies to acquire relevant information (data) accurately. The course is delivered as a series of modules by a team of lecturers. It addresses knowledge needed to conduct the following projects: 1) scientific research, 2) case writing research, 3) business plan, and 4) consultancy project. Students are expected to produce any of the following outputs: 1) mini research report, 2) caselet and teaching note, 3) business plan, or 4) consultancy report. Presentation of these outputs shall be presented and evaluated by at least two examiners nominated by IBS. The outputs of the course will be carried through shall students opt for Business Research Project course (MBSA 2923).

Strategic Innovative Marketing

Code:  MBSA 1323

Pre-Requisite Course(s): None

Synopsis: This course will help students develop a deeper understanding of marketing and its applications primarily through practical problem solving exercises based on current and future outlook of the market environment particularly IR4.0 revolution. The students will learn how to practice marketing principles to make better decisions, from high level strategic decisions to more granular, tactical ones centred on the effective deployment of the marketing mix elements and ethical norms. The course will be taught using cases, lectures, and a major field project which has student teams working with companies or establishing their own marketing plans.

Managerial Economics & Policy Analysis

Code:  MBSA 1523

Pre-Requisite Course(s): None

Synopsis: The main objective of this course is to provide a sound grounding in the basic principles of micro and macroeconomics and their application to business decision making, to facilitate informed reading of economic of economic media and achieve an understanding of the broader economic issues faced by businesses in Malaysia, and to understand how fiscal policy and monetary policy affect the economy and business decision.

Strategic Financial Management

Code:  MBSA 1463

Pre-Requisite Course(s): None

Synopsis: Business organizations are torn between effective business services for consumers and organizational profitability. This is pertinent in view of the need to strategize their operations within the competitive business market, especially for private businesses. The governance of corporations in contemporary business and socio-economic environments is further explored looking into in-depth analysis and evaluation of the role, responsibility, integrity and accountability of corporations and their directors, managers and officers. The complex and multi-faceted relationships of the corporations with the government and society. Topics covering the corporation as a unique form of social organization acting as catalyst for reform towards enhancing the strength, resilience and morality of civil society of the nation and the world would be covered and critically examined.

Business Information System

Code:  MBSA 1133

Pre-Requisite Course(s): None

Synopsis: In this course, participants are given strategy concepts for knowledge and application both at the business and corporate levels. The development of strategic thinking permits participants to approach complex organizational scenarios and opportunities from a larger perspective, particularly in the context of globalization of businesses, and with regard to business operational strategies as they relate to the overall corporate strategies of the organization. This course explores effective management of corporate, business and operational strategies towards gaining competitive advantage for business organizations.

(9 Credits)

Islamic Financial System (compulsory)

Code: MBSA 2433

Pre-Requisite Course(s): None

Synopsis:

The course covers the development of Islamic financial system which includes financial markets and instruments, financial intermediaries and financial behavior. The course examines the financial system from the perspectives of Islamic economy as an alternative for conventional counterpart in promoting the financial and economic stability. The course also offers an overview of the interaction between monetary policy and financial markets. The goal of the course is to provide the students with the knowledge of the real-world finance with the interaction of Islamic finance. For this, students are expected to graduate from the class having to appreciate the moral creation in the financial and economic system.

Fiqh Muamalat in Banking and Finance (compulsory)

Code: MBSA 2543

Pre-Requisite Course(s): None

Synopsis:

Islamic commercial law and financial transactions (fiqh al-muamalat) is an ordered set of interrelated rules which works together harmoniously in any society. Its fundamental principles are provided by the Quran and Sunnah. Muslim jurists have provided in great details scholarly works on the concept of usury (riba), propert (mal), right (haq), ownership (milkiyyah), and contract (‘aqd). Henceforth, this course will include the contract of agency (wakalah), contract of loan (al-Qard), contract of safekeeping (al-Wadiah), Partnership (al-Sharikat), Silent Partnership (mudarabah/Qirad), and Pledge, Mortgage or Pawn (al-Rahn) and a few other aspects of Islamic commercial elements in the contract

Risk Management in Islamic Derivatives

Code: MBSA 2453

Pre-Requisite Course(s): None

Synopsis:

Islamic derivatives as risk management tools for the Islamic financial services industry become important and need to assess the effective adoption of relevant contracts for derivatives and analyze the impact of changes in market and Shari’ah rulings on derivatives. We need to evaluate the suitability of various types of derivatives to mitigate various financial risks and analyze the distinction between hedging and speculation. This course will focus on the tools and techniques available for managing these risks such as future contracts, option contracts, swaps and other standard risk-hedging techniques.

Islamic Marketing

Code: MBSA 2353

Pre-Requisite Course(s): None

Synopsis:

This course is designed to provide students with an understanding of the marketing from Islamic perspective. There will be a focus on the importance of Islamic marketing in the real world and how organizational build a strong Islamic branding in an attempt to cater not only Muslims, but non-Muslims market. It will include topics such as Islamic marketing mix, consumer behaviour in Islamic context, ethics and corporate social responsibility as well as international marketing. Issues in marketing that contradicts with Islamic values also will be highlighted. Additionally, the course will provide opportunities for the practical implementation of the concepts covered and the development of problem solving skills by means of face-to-face learning, assignments, case analysis, group project and discussion.

Sukuk

Code: MBSA 2453

Pre-Requisite Course(s): None

Synopsis:

Sukuk was developed as an alternative to conventional bond which is impermissible in Islam as they pay interest or involved financing businesses in Sharia non-compliant activities such as gambling, pork, alcohol and etc. Sukuk is structured to comply withSharia by avoiding riba through not paying interest. Sukuk securities, ownership of a property built and collection of the property's profit as rent is used in Sukuk for its permissibility under Islamic law. Sukuk represent ownership of real assets and does not guarantee repayment of initial investment. Besides the development of Sukuk and its importance, this course also covers different types of Sukuk based on various structures of Islamic contracts depending on the type of project that the sukuk is financing such as Murabaha, Musharaka, Ijara, Istisna, Istithmar, and etc. Sukuk structuring, Special Purpose Vehicles, originators, involved parties, regulations, trading, securitisation,shortfall in payments and its implications will also be highlighted in the course.

Fund Management

Code: MBSA 2483

Pre-Requisite Course(s): None

Synopsis

The scope of Islamic wealth management is divided into two, namely Islamic financial planning which includes cash flow and liability management; risk management and takaful; zakat and tax planning; retirement planning; and Islamic estate and waqaf planning. The other section involves investment portfolio management which involved risk management and investment planning. It corresponds to the life-cycle of a person; from the time the person begin to earn an income until the day the person dies. It involves the process of wealth accumulation, wealth preservation, wealth purification and wealth distribution.

Fintech in Islamic Finance

Code: MBSA 2443

Pre-Requisite Course(s): None

Synopsis:

Technology is playing an increasingly dominant role in the financial service industry. It covers a wide range of activities including financing, payments and infrastructure, operation and risk Management, data security and monetisation, and also customer interface. Islamic banks also use financial technology (Fintech) to improve the quality of its operation and service. This course is designed to provide understanding and overview of the application of Fintech in the ever challenging financial service industry.

3 credits.

Organization Behavior and Development

Code: UBSE 1123

Pre-Requisite Course(s): None

Synopsis:

The Techno-Entrepreneurship course is designed for students interested in learning about how to start and manage technology-based high-impact ventures. This course brings together both the traditional in- class learning and practical experience and the interaction with the entrepreneurs and other related industry players. It introduces the strategies to assess the potential of a new business concept and thus improve the success of high-impact ventures. It offers significant, fascinating and stimulating experiences through a variety of innovative teaching and learning techniques. This course utilizes the case studies on technology-based ventures to show challenges of creating technological ventures including the financial and human resources facets. For this purpose, pedagogical methods including sharing sessions by successful entrepreneurs and problem-based learning based on real business scenarios are applied to foster technological-based entrepreneurial behaviour and action.

Business Ethics, Responsibility and Sustainability

Code: MBSA 1533

Pre-Requisite Course(s): None

Synopsis:

Business plays a significant role in societal and environmental well-being. Private and public organizations are no longer responsible to shareholders and those inside the organizations, but to external parties including consumers, politicians, regulators, communities and ordinary citizens. To fulfill the conflicting needs of these stakeholders, business leaders and managers often encounter complex situations which require them to make difficult decisions whereby the lines between right and wrong are blurry. This course aims to provide students the fundamental knowledge about the role of organizations in a society and to develop their skills to sustainably manage organizations that integrate legal, ethical, economic, environmental, and social dimensions into their decision-making. The course intends to develop responsible managers who have high integrity, professionalism and interpersonal skills. The course will also teach strategies on how managers can promote responsible conducts in their companies. The course objectives will be achieved through various teaching and learning methods specifically through critical examination of case studies involving ethical issues and dilemmas on complex and controversial business problems. This course is integrative in nature built upon the understanding and reflection of the main disciplines covered in the core courses in the MBA program.

7 credits.

Action Research I

Code: MBSA 2933

Pre-Requisite Course(s): None

Synopsis:

This course is designed to address problem(s) in organisation based on management, marketing, accounting, finance, and entrepreneurship fields. The students are expected to produce individual project based on their specialization/concentration. The students are required to choose action research as the mode of this project. In doing so, the students should find a suitable company to work on the real life problem. In Action Research I, the students will prepare the proposal of the project which consists of three main parts: (a) identification of the problem, (b) applicability of the relevant models/concepts, (c) designing for the solution. At the end of the semester, this proposal will be assessed by the supervisor.

Action Research II

Code: MBSA 2934

Pre-Requisite Course(s): None

Synopsis:

This course is designed to address problem(s) in organisation based on management, marketing, accounting, finance, and entrepreneurship fields. The students are expected to produce individual project based on their specialization/concentration. The students are required to choose action research as the mode of this project. In doing so, the students should find a suitable company to work on the real life problem. The Action Research II is the continuation of Action Research I in which the students will complete the full project under the guidance of the chosen supervisor. Upon submission of the final report, the students are required to present their findings in front of the examiner. The BRP report is examined by both supervisor and the examiner on the basis of 70:30 ratios.

Admission Requirements

The Minimum entry requirement to the MBA program are as follows:

  • An honours degree from UTM or other recognized universities or an equivalent academic qualification from an overseas establishment approved by the University Senate.
  • Certain professional qualifications will also be considered.
  • At least two years post-qualification working experience.

Minimum English requirement (For International Candidates Only)
ELTS ≥ Band 6.0 / TOEFL ≥ 550 
OR
IELTS = Band 5.5 525 ≤ TOEFL < 550

Must attend English Course Certificate (equivalent to 120 hours of intermediate English)

Admission Through APEL (Malaysian Candidates Only)

  • Admission through APEL (for Malaysian candidates only)
  •  More than 30 years of age in the year of application; and
  •  STPM / Recognized Diploma / A-Levels / Equivalent; and
  • Relevant work experience / prior experiential learning; and
  •  Pass the APEL Assessment (Aptitude Test, Portfolio & Interview)
Application Procedure
  1. Application must be made online at admission.utm.my
  2. The following documents must be uploaded into the online application portal:
  3. • Certified copy of Bachelor Degree• Certified copy of Diploma (if any)• Certified copy of Academic Transcript(s)• Certified copy of English Certified of IELTS/TOEFL with band score of 6.0/550 (for international candidates only)• Passport-sized Photograph• Copy of Passport (for international applicants)• Two Referee Letter (Not compulsory)• Financial Guarantee / Bank Account Statement (for self-sponsored candidate)• Two copies of Scholarship Letter (If any)
  4. • Proof of processing fee being paid
  1. 3.Only completed application will be processed

STUDENT’S EXPERIENCE

“From the very first day I came to UTM IBS, I was impressed by the professors. Apart from all the high standard facilities and learning opportunities, all the lecturers of UTM IBS are truly concerned about each student’s success.”

Dr Faizan Ali, IBS Alumni

Assistant Professor, University of South Florida Sarasota-Manatee

   For more information about the admission process,

   Contact ;

Name : Norharyani binti Hamid
Email : norharyani.kl@utm.my
Ext No. : 03-2180 5032

   To know more about the programme,

   Contact ;

Name : Dr. Nazimah binti Hussin
Email  : nazimah.kl@utm.my
Ext No. : 03- 2180 5076