Name of the EP

8D04109 - Islamic Finance

Field of education

8D04 - Business, Management and Law

Direction of training

8D041 - Business and Management

Group of educational programs

D074 Finance, banking and insurance

Purpose

The purpose of the Educational Program is to train highly qualified, competitive in the international labor market specialists, possessing key competencies, modern technologies and financial management tools in the field of Islamic finance: 

-       possessing deep systemic knowledge in the field of Islamic finance, proficient in foreign languages, modern information and innovative technologies;

-       a specialist who is able to critically assess problems, approaches and trends reflecting the current state of the scientific discipline, the field of scientific research and areas of professional practice;

-       who are able to formulate and solve modern scientific and practical problems, organize and successfully implement scientific and pedagogical, research and experimental research activities;

-       competent to conceptualize, develop and implement projects to create new knowledge or practical applications in the current areas of Islamic finance.

Language of teaching

Russian, English

Amount of credits

180 academic credits

Awarded academic degree

Doctor of Philosophy (PhD) in Islamic Finance

Learning outcomes

Upon completion of this educational program, doctoral students are expected to be able to:

ON1 Demonstrate the logical scientific thinking necessary to use the methodological foundations of research; collect and interpret sources of information for making professional judgments in the field of research, applying the skills of drawing up and preparing scientific and technical documentation, scientific reports, reviews, reports and articles reflecting the current state of Islamic finance, its specific areas

ON2 Possess fundamental, systemic knowledge in the field of Islamic finance, professional methods of teaching specialty disciplines in universities and colleges; systematize, process and analyze knowledge that allows for a critical assessment of the problems studied and discussed in the development of Islamic finance in the world, Europe

ON3 Investigate the trends and patterns of investing in investment Islamic financial instruments of Mudaraba, Musharaka, Ijara, Istisna, Sukuk, analyze the current state and predict future investment flows and trends; evaluate and implement the Islamic banking model and financial regimes currently used by Islamic financial institutions.

ON4 Systematize global financial expertise on the topics of financial systems assessment, corporate governance, Islamic finance, and public policy for informed presentation of scientific findings and discussion in scientific discussions and publications in national and international peer-reviewed journals.

ON5 Monitor the evolution of the takaful industry in the global economy and build its own models of the importance of risk sharing by discussing and critically evaluating different cooperation models, including case study coverage and critique of the Islamic insurance model and the role of alternative financing mechanisms.

ON6 Based on the study of the concepts of issuance, the yield of Islamic financial instruments, develop practical recommendations for the application of these instruments in real-life scenarios, providing Islamic financial professionals and non-specialists with a deeper understanding of the market in the corporate sector, as well as in Islamic banking and finance.

ON7 Critically analyze and compare the fundamental concepts on the activities of Islamic investment funds, apply methods and tools of analysis when organizing Islamic investment for both Muslims and non-Muslims.

ON8 Develop applied models of the investigated processes, phenomena and objects related to the field of Islamic financial management; develop products for the Islamic finance industry; consider the future prospects and opportunities for the development of Islamic finance in Kazakhstan.

ON9 Integrate the results of scientific research into the educational process in the development of educational programs, training courses, modules, educational and methodological documentation; to develop and introduce into the educational process the author's course based on the competence-based approach;

ON10 Having penetrated international experience in the field of international development of Islamic finance to assess financial systems, corporate governance, Islamic finance and public policy, offer its own informed understanding of corporate finance within the Islamic finance industry, develop corporate strategy, plan, coordinate and manage the Islamic finance of the company

ON11 Create financial innovation in the form of issuing sukuk in the Kazakhstani market; conduct an independent financial examination of a commercial project, fulfillment of licensing, certification requirements and regulatory and methodological documents to assess the feasibility of issuing sukuk and its effectiveness, optimize business processes, business models, select effective solutions for the development of a company in the sukuk market

ON12 Demonstrate organizational skills and initiative; form business contacts, carry out effective communications with the internal and external environment of the company; to navigate adequately in various social situations; be fluent in a foreign language for scientific communication and international cooperation; competent in providing qualified opinions on complex problems in the field of Islamic finance, be able to clearly state their ideas and conclusions, both for specialists and non-specialists

For applicants

Welcome.kaznu.kz (link to the corresponding program in welcome.kaznu.kz

http://www.kaznu.kz/

Academic activity

Academic mobility: with leading universities-TOP 200, one of them is:

Erasmus - EPP-1-2016-KZ-EPPKA2-CBHE-SP. Enhancement of Higher education and corporate sectors integration in accordance with new social environment ENINEDU, 

Comparison with similar programs of TOP-200 universities according to the QS rating, Hamad Bin Khalifa University

Scientific activity 

For the implementation of the educational program at the faculty there are centers:

1. Islamic Finance Center;
2. Center for Exchange Technology;
3. Center for Economic Research.

        This educational program allows you to train doctoral students in accordance with the new requirements of the labor market, global and local requirements:

  - to demonstrate the presence of a significant amount of scientific knowledge acquired in a systematic way and allowing to analyze the dynamics of the development of Islamic financial institutions, as well as assess the prospects for their development in modern conditions;

- to identify trends and patterns in the use of Islamic financial instruments in modern practice;

- to analyze information from various sources, in global computer networks, allowing to give a critical assessment of the problems studied and discussed in the framework of the development of Islamic finance in the world, Europe;

- develop practical guidelines for applying these tools in real-world scenarios, providing Islamic finance professionals and non-specialists with a deeper understanding of the market in the corporate sector, as well as in Islamic banking and finance;

- post publications based on the results of the research in foreign scientific journals that have a non-zero impact factor according to the database of scientific journals of the Thomson Reuters company or included in the Scopus database, as well as participate in international scientific / methodological conferences.

International activity

Scientific international internships and academic mobility of doctoral students.

1. Hamad Ben Khalifa University, Qatar

2. HongKong Polyu University, Hong Kong

3. Central University of Bohemia, Czech Republic, Prague

4. Plekhanov Russian University of Economics, Russian Federation, Moscow

5. University of Padua, Italy, city of Padua

6. Columbia University, USA, New York

7. Peoples' Friendship University of Russia, Russia

8. University of Luis, Italy. RomeMUN international conference

9.Chung-ang University, Korea

10. Spain, Granada, University of Granada

Quality assurance (accreditation, rating, work with employers)

The educational program in the specialty 8D041 - Islamic finance passed the specialized accreditation of KAZSEE on June 18, 2021.

According to the results of the IAAR and IQAA rating, the educational program takes the 3rd place by the PPA - the 2nd place.  

Bases of practice: AIFC, Islamic banks, as well as leasing companies and other financial institutions that provide Islamic finance.

The best modern educational methods are used in teaching, including case studies, business games, trainings, as well as a combination of individual and team work. Representatives of employers are actively involved in the implementation of these forms of employment.