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PhD Islamic Business and Finance

Description of the Programme

The Islamic Banking and Finance markets have witnessed a significant growth in the past couple of decades and resulted promising career opportunities for specialized research graduates at national and international markets. IMSciences is leading Khyber Pakhtunkhwa in promoting education, research, and best industry practices in the Islamic Business and Finance.
The PhD in Islamic Business and Finance is a holistic degree with no functional specialization. This is to encourage interdisciplinary research and provide a more open sphere for the academic thinking and rigor. However, within the research project a candidate may choose to either go for a basic research or applied research.
A basic research is interpreted as theory or knowledge advancement research and it more suits to candidates who want to pursue career in academia and scholarly authorship. The focus within basic research methods is on developing the candidates’ analytical and critical reading, thinking, and writing skills to make them able to challenge the current discourse of Islamic business and finance and develop original, contemporary, and alternative perspectives on the problems. 
The applied research is interpreted as a research in which the candidate would need to create a verifiable impact on the current practice of Islamic business and finance. For this research a candidate will need to spend a sufficient amount of time within an organisation or field to create the impact through his or her research within Islamic business and finance. This research would more suite to the motivated and experienced practitioners who are looking to complement & develop their practical knowledge with research, analytical, and critical thinking skills to the highest level to lead the globally emerging Islamic financial institutions (e.g., Islamic Banks and Takaful organisations). By completing this PhD, individuals will bring an unparalleled combination of independent thinking and business knowledge to their organisation.

Programme Objectives

PhD Islamic Business and Finance is primarily aimed to develop scholarship among students so that they can:

  • Advance the theory of Islamic Business and Finance.
  • Conduct rigorous basic and applied research on Islamic Business and Finance that have a developmental impact for the market and society.

Structure of the programme

Semester wise breakup of the PhD programme is given below:
Coursework: 18 Credit Hours
Thesis : 36 Credit Hours
Total Credit Hours for PhD programme: 54 Credit Hours

Semester 1 (Year 1)

DIBF 810 Seminar on Basic and Applied Research Techniques             3
DIBF  820    Islamic Economics, Business, and Finance 3
DIBF  830    Elective 1 3

Semester 2 (Year 1)

DIBF 840 Contemporary issues In Islamic Business and Finance          3
DIBF 850  Elective II 3
DIBF 860 Independent Research Study 3

Year 2 and 3

DIBF  870 Thesis (Year 2 & 3) 36

Elective Courses

  • Islamic Political Economy
  • Shariah Law of Business and Financial Contracts
  • Development of Islamic Financial Institutions and Products

Programme Admission Criteria

The students are admitted to the programme on the basis of the following criteria:

  • MS/MPhil (with thesis) degree or 18 years of education in a subject relevant to the field of study with consistently good academic record and a minimum of 60% marks in the annual system or CGPA of 3.0 out of 4.00 in semester system.
  • Candidates who have done MS/ M-Phil without thesis may be considered for admission in the PhD programme if they submit either a published paper in an HEC recognized journal as a principal author or conduct a research thesis equivalent to 6 credit hours.
  •  A minimum of 60% marks in the GAT- subject conducted by the National Testing Service (NTS). All candidates seeking admission to the PhD programme are required to provide the GAT-Subject score.
Knowledge environment for PhD Islamic Business and Finance

A comprehensive knowledge environment is created for a scholarly grooming of a PhD candidate:

  • Establishments of the Centre for Excellence in Islamic Finance (CEIF) with collaboration of DFID and SBP.
  • Strategic collaborations has been established well known institutes/universities  including Durham University UK, Islamic Research and Training Institute (IRTI), Makkah, Umm Al-Qura University, King Saud University Saudi Arabia and ISRA Malaysia. Collaborations with Islamic financial institutions including Meezan Bank, Bank Islami, Bank of Khyber and Pak Qatar Family Takaful has also been made. The purpose of these MOU was to provide a general framework for facilitating collaboration and cooperation between the Parties in promoting and undertaking their mutual interests in activities related to Islamic finance education, research publications, and best industry practices.
  •  Arrangement of International and National conferences by the Institute also adds to the strategic plans of the programme .
  • Establishment of the DATA HUB for the students.
  •  Institute/Centre regularly organizes training and seminars related to Islamic finance for both students and practitioners.