Islamic Banking and Finance MSc

January intake: Taught modules are undertaken in the period of January to June and September to January and will involve the study of 120 credits. The dissertation (or equivalent) is valued at 60 credits and is undertaken during the period of June to September. September intake: Taught modules are undertaken in the period of September to June and will involve the study of 120 credits. The dissertation (or equivalent) is valued at 60 credits and is undertaken during the period of June to September. Compulsory modules: Research Methods: This module equips students with knowledge of intermediate and advanced research methods, which they will encounter in other modules and in their dissertation. International Financial Markets: This module provides an overview of financial instruments in a multi currency world, taking account of insights from portfolio theory concerning the relationship between risk and return, the diversification of risk, and the pricing of assets. Islamic Finance: This module provides an insight into topical issues relating to Islamic financial instruments and related risk management issues. The first part of the course examines issues relating to financial contracting, instruments and various intermediation issues. The second part of the course focuses on the role of the capital market in providing Islamic financing and highlights financial engineering issues as well as risk management features of this type of business. Islamic Banking: This module provides an insight into the key features of Islamic banking business. The first part of the course outlines the theoretical foundations and development of Islamic banking practices. In particular, the main characteristics of various types of Islamic banking products are discussed. The second part of the course examines the operational features of Islamic banks focusing on their performance and how they compete with conventional interest based banks. The final part of the course outlines contemporary challenges to Islamic banking business. International Banking: This module examines the origins of international banking, the activities of international banks, the markets in which they participate, and the sources of risk. Financial Econometrics: This module provides advanced coverage of econometric methods and practices that are used to model financial and business data. Optional modules (choose 2): Islamic Accounting and Financial Reporting: This module develops a critical awareness of theoretical and practical approaches to Islamic accounting and financial reporting. Islamic accounting standards are compared with IFRS, and the content and impact of academic research in this area is examined. Corporate Risk Management: This module provides an analysis of pure risk and its management. You will develop a critical awareness of the issues that arise in identifying, controlling and financing loss exposures. The module demonstrates the application of risk management concepts and techniques to practical problems. Financial Institutions Strategic Management: This module examines the main theoretical and practical issues concerning banking business. You will develop a critical awareness of the theory of the banking firm, the motives for international banking, and regulatory and structural issues impacting on bank behaviour. Investment Strategy and Portfolio Management: This module evaluates the development of investment strategies for bonds, equities and derivatives that are designed to achieve optimal risk return outcomes, and examines the measurement and evaluation of the performance of a portfolio of investments. Islamic Insurance: This module analyses the nature and principles of Islamic insurance, and examines the operational modes and practice of Islamic insurance. The structure of Islamic insurance markets is described, and constraints and opportunities are highlighted. Financial Stability: This module offers an introduction to financial stability, referring to theories of financial crises and empirical evidence. It aims to establish the role played by central banks in achieving and maintaining financial stability, and it also considers the effect of industrial organisation of banking systems on financial stability. Merger and Acquisition: This module provides an analysis of incentives and outcomes associated with merger and acquisition deals. It covers the development and execution of an acquisition strategy, the valuation of the target, the conduct of the negotiation, and the implementation of the post merger integration plan. Financial Crises and Bank Regulation: This module examines why banks and financial markets are inherently vulnerable to crises, and analyses the role of policy makers and institutions. The roles of monetary policy, bank supervision and regulation, corporate governance and ratings agencies in mitigating or exacerbating crises are considered.