Islamic Economics and Finance
Why Islamic Economics and Finance at Ibn Haldun University?
The Master’s Program in Islamic Economics and Finance at Ibn Haldun University offers a research-oriented graduate education for students who seek to engage the field with both intellectual depth and contemporary relevance. The program is designed not only to introduce the principles and institutions of Islamic economics and finance, but also to develop the analytical, legal, and methodological capacities required to study them critically and responsibly.
As debates on ethics, sustainability, financial inclusion, governance, and public benefit become increasingly central to economic life, Islamic economics and finance has emerged as an important field of inquiry for those interested in more value-conscious and socially grounded approaches to markets and institutions. In this respect, the program approaches the field not merely as a technical specialization, but as a broader area of academic and applied inquiry situated at the intersection of economics, finance, law, public policy, and Islamic thought.
The program benefits from Ibn Haldun University’s broader commitment to intellectual independence, comparative education, multilingual scholarship, and socially relevant research. Students are expected to develop as independent researchers while also engaging meaningfully with real-world institutional questions. The curriculum combines compulsory courses in core areas such as Islamic Economics, Islamic Finance, Islamic Property and Contract Law (Fiqh Muamalat), and Principles of Islamic Jurisprudence (Usul al-Fiqh) with a diverse elective pool that supports specialization in either Islamic Economics or Islamic Finance.
Another distinctive feature of the program is the academic ecosystem it seeks to build around internationally recognized scholars and experienced professionals. As reflected in the program’s current academic direction and public-facing materials, the program aims to bring together strong foundations in research, academic insight, and real-world participation-finance experience. This gives students an opportunity to pursue graduate study in a setting that is both intellectually serious and professionally meaningful.
For students who wish to continue to doctoral study, the program provides a solid basis in academic writing, seminar work, and thesis-based research. For those who seek to contribute in public institutions, participation finance, advisory work, or related sectors, it offers an opportunity to engage with Islamic economics and finance in a way that is analytically grounded, ethically attentive, and socially relevant.
The quota for the Islamic Economics and Finance (English) Master’s Program is 16 students.
Tuition Waiver
Subject to meeting the relevant requirements, 10 students are granted 100% tuition waiver.
Cash Scholarships
Among the students who are granted 100% tuition waiver, 3 students may, subject to meeting the relevant requirements, receive a monthly “Merit Scholarship” of 23,500 TL.*
Important Note: The information provided above is valid for the 2026-2027 Academic Year admissions cycle and is subject to budgetary and quota limitations. Admission to these quotas is based on applicants’ ranking in the scientific evaluation examination. For detailed information and conditions regarding tuition waivers, cash scholarships, and teaching assistantship opportunities, please visit the relevant pages.
*Within this quota and on a limited basis, some students may be offered “Merit Scholarship 2” (BAB 2) in the amount of 17,000 TL per month for 10 months, subject to the decision of the relevant department.
Esteemed Academics
One-on-One Education
Boutique University
Student-Centered Approach
On-Campus Dormitories for Female and Male Students
Sports Center
Supportive Research and Project Ecosystem
Opportunity to Participate in Research Center Projects
Internship Opportunities in the Sector (For Republic of Türkiye Citizens)
Head of Department
Assist. Prof. Fatih Al
Purpose
The main purpose of the Master’s Program in Islamic Economics and Finance at Ibn Haldun University is to train researchers and professionals who can study Islamic economics and finance with intellectual depth, methodological competence, and strong awareness of contemporary institutional realities.
The program aims to equip students with a rigorous understanding of the intellectual foundations, legal frameworks, institutional structures, and socio-economic dimensions of Islamic economics and finance. It approaches the field not merely as a technical area of financial products and institutions, but as a broader domain of inquiry that includes ethics, law, markets, governance, public policy, sustainability, and socio-economic development.
In line with Ibn Haldun University’s academic vision, the program seeks to cultivate independent researchers who can think critically, comparatively, and interdisciplinarily, and who are capable of producing knowledge that is academically grounded, socially relevant, and attentive to the common good.
Scope
The program is structured as a thesis-based graduate program conducted in English. It provides students with a research-oriented and interdisciplinary education at the intersection of economics, finance, law, Islamic studies, public policy, and broader social inquiry.
The main areas covered by the program include:
- Islamic economics and its intellectual foundations
- Islamic finance and contemporary participation finance practices
- Islamic property and contract law, including fiqh muamalat
- Principles of Islamic jurisprudence and legal reasoning
- Ethical, legal, and institutional dimensions of economic life
- Financial inclusion, sustainability, governance, and public benefit
- Participation banking, savings finance, Islamic capital markets, and Islamic corporate finance
- Islamic social finance, Islamic FinTech, takaful, and interest-free financial institutions
- Economic theory, empirical methods, data analysis, and related quantitative tools
- Research methods, publication ethics, seminar work, and thesis-based independent research
The curriculum allows students to specialize through the Islamic Economics or Islamic Finance tracks. Students are expected to combine core courses, program-specific electives, language courses, seminars, and thesis research in a way that supports their academic interests and research goals.
Rationale
In recent decades, Islamic economics and finance has become an increasingly important field of academic, institutional, and policy-oriented inquiry. Questions of justice, sustainability, financial inclusion, risk sharing, ethical finance, and the public role of economic institutions have gained renewed significance in both Muslim-majority and global contexts.
At the same time, participation finance, interest-free financial institutions, Islamic capital markets, Islamic social finance, savings finance, and related sectors require graduates who can combine strong conceptual knowledge with analytical, legal, and methodological competence. The development of the field depends not only on technical expertise, but also on scholars and professionals who can critically examine its foundations, assess its contemporary practices, and contribute to socially meaningful and institutionally grounded solutions.
Türkiye’s growing role in participation finance, Istanbul’s position as an emerging financial center, and the increasing global demand for value-conscious approaches to economic and financial institutions make this program particularly timely. Built on Ibn Haldun University’s commitment to intellectual independence, comparative education, multilingual scholarship, and socially relevant research, the program is designed to respond to these academic, institutional, and societal needs.
Core Objectives
The core objective of the Master’s Program in Islamic Economics and Finance is to train graduate students who can approach the field with analytical depth, methodological rigor, and a strong sense of social responsibility.
In this context, the specific objectives of the program are:
- To provide students with advanced knowledge of the intellectual foundations of Islamic economics and finance
- To develop students’ capacity to analyze Islamic economics and finance through ethical, legal, institutional, and socio-economic perspectives
- To train students in research methods, academic writing, publication ethics, and thesis-based independent inquiry
- To strengthen students’ ability to engage critically with contemporary debates on justice, sustainability, financial inclusion, governance, and public benefit
- To enable students to understand Islamic finance, participation banking, savings finance, Islamic capital markets, and related institutions within their broader legal and economic contexts
- To support specialization in Islamic Economics or Islamic Finance through a structured elective pool
- To cultivate researchers and professionals who can contribute to academia, public institutions, participation finance, civil society, advisory practice, and related sectors
- To prepare qualified students for doctoral study and advanced academic research
- To encourage the production of knowledge that is academically sound, institutionally relevant, and socially meaningful
Who should participate?
The program is particularly suitable for:
- Students from economics, finance, business, law, Islamic studies, public policy, and related social science backgrounds
- Candidates who wish to pursue advanced academic research in Islamic economics and finance
- Students planning to continue to doctoral study
- Professionals or prospective professionals interested in participation finance, Islamic finance, public institutions, civil society, advisory work, and related sectors
- Candidates interested in the ethical, legal, institutional, and socio-economic dimensions of economic and financial life
- Students from Türkiye and around the world who seek to study Islamic economics and finance in a research-oriented, internationally engaged, and interdisciplinary academic environment
The program has an interdisciplinary nature, and its faculty includes many scholars from various fields:
Prof. Hasan Hacak (Akademik profil için tıklayınız.)
Prof. Bilal Aybakan (Akademik profil için tıklayınız.)
Prof. Muhittin Kaplan (Akademik profil için tıklayınız.)
Prof. Hasan Vergil (Akademik profil için tıklayınız.)
Assist. Prof. Asad Ul Islam Khan (Akademik profil için tıklayınız.)
Assist. Prof. Arab Dahir Hassan (Akademik profil için tıklayınız.)
Assist. Prof. Mahat Maalim Ibrahim (Akademik profil için tıklayınız.)
Assist. Prof. Meryem Solmaz (Akademik profil için tıklayınız.)
Assist. Prof. Ayman Bekiroğlu (Akademik profil için tıklayınız.)
Assist. Prof. Fatih Al (Akademik profil için tıklayınız.)
Prof. Mehmet Asutay
Prof. Asad Zaman
Dr. Tarık Akın
Mr. Farrukh Raza
The curriculum of the Master’s Program in Islamic Economics and Finance is designed to provide students with a balanced and research-oriented graduate education that combines foundational knowledge, analytical training, and thesis-based specialization.
At the core of the program is a structured progression from conceptual and methodological grounding to advanced inquiry. In the early stage of the program, students are introduced to the intellectual and analytical foundations of the field through courses such as Islamic Economics, Islamic Property and Contract Law (Fiqh Muamalat), and Research Methods and Publication Ethics. This structure reflects the program’s commitment to combining substantive knowledge of the field with the research skills required for serious graduate study.
The curriculum also includes Islamic Finance and Principles of Islamic Jurisprudence (Usul al-Fiqh) as core components, enabling students to engage the institutional, contractual, legal, and contemporary dimensions of the field alongside its broader economic foundations. In this respect, the program is designed not only to familiarize students with key concepts and practices but also to help them examine Islamic economics and finance as an area of critical inquiry shaped by ethical concerns, regulatory frameworks, market institutions, and broader socio-economic questions.
A further strength of the curriculum is the space it creates for academic flexibility and intellectual breadth. Program-specific and general electives allow students to deepen their knowledge in selected areas and to benefit from the interdisciplinary environment of Ibn Haldun University. Language courses also form part of the current structure, supporting the University’s broader commitment to multilingual academic development.
Taken as a whole, the curriculum aims to prepare students for doctoral study, academic research, and professionally informed work in areas related to Islamic economics and finance. It reflects the program’s broader orientation toward rigorous scholarship, interdisciplinary engagement, and knowledge production that remains attentive to public benefit, institutional realities, and the ethical dimensions of economic life.
Track Note
A student is deemed to have completed either the Islamic Economics (E) or the Islamic Finance (F) track if at least three electives from the relevant track are successfully completed.
1st Semester
| IBN HALDUN UNIVERSITY SCHOOL OF GRADUATE STUDIES ISLAMIC ECONOMICS and FINANCE COURSE PLAN | |||||
| Course Code | Course Name | T | U | Credit | ECTS |
| IEF 501 | Research Methods and Publication Ethics | 3 | 0 | 3 | 8 |
| IEF 503 | Islamic Property and Contract Law (Fiqh Muamalat) | 3 | 0 | 3 | 8 |
| IEF 505 | Islamic Economics | 3 | 0 | 3 | 8 |
| IEF ... | Elective Course (Program-specific) | 3 | 0 | 3 | 8 |
| IEF/... ... | Elective Course (Program-specific) | 3 | 0 | 3 | 8 |
| ... | Language Courses | ||||
| Total | 15 | 40 | |||
2nd Semester
| Course Code | Course Name | T | U | Credit | ECTS |
| IEF 500 | Seminar | 3 | 0 | 0 | 8 |
| IEF 502 | Islamic Finance | 3 | 0 | 3 | 8 |
| IEF 504 | Principles of Islamic Jurisprudence (Usul al-Fiqh) | 3 | 0 | 3 | 8 |
| IEF ... | Elective Course (Program-specific) | 3 | 0 | 3 | 8 |
| IEF/... ... | Elective Course (Program-specific / General) | 3 | 0 | 3 | 8 |
| ... | Language Courses | ||||
| Total | 12 | 40 |
3rd Semester
| Course Code | Course Name | T | U | Credit | ECTS |
| IEF 599 | Master’s Thesis | 0 | 0 | 0 | 30 |
| Total | 0 | 30 |
4th Semester
| Course Code | Course Name | T | U | Credit | ECTS |
| IEF 599 | Master’s Thesis | 0 | 0 | 0 | 30 |
| Total | 0 | 30 |
Compulsory Courses
| Course Code | Course Name | T | U | Credit | ECTS |
| IEF 500 | Seminar | 3 | 0 | 0 | 8 |
| IEF 501 | Research Methods and Publication Ethics | 3 | 0 | 3 | 8 |
| IEF 502 | Islamic Finance | 3 | 0 | 3 | 8 |
| IEF 503 | Islamic Property and Contract Law (Fiqh Muamalat) | 3 | 0 | 3 | 8 |
| IEF 504 | Principles of Islamic Jurisprudence (Usul al-Fiqh) | 3 | 0 | 3 | 8 |
| IEF 505 | Islamic Economics | 3 | 0 | 3 | 8 |
Program-Specific Elective Courses
| Course Code | Course Name | T | U | Credit | ECTS |
| IEF 506 | Islamic Economic Growth and Development | 3 | 0 | 3 | 8 |
| IEF 507 | Mathematical Economics | 3 | 0 | 3 | 8 |
| IEF 508 | Islamic FinTech | 3 | 0 | 3 | 8 |
| IEF 509 | History of Islamic Economics Thought | 3 | 0 | 3 | 8 |
| IEF 510 | Risk Sharing and Islamic Insurance (Takaful) | 3 | 0 | 3 | 8 |
| IEF 511 | Islamic Theory of Contract | 3 | 0 | 3 | 8 |
| IEF 512 | Islamic Capital Markets | 3 | 0 | 3 | 8 |
| IEF 513 | Islamic Corporate Finance | 3 | 0 | 3 | 8 |
| IEF 514 | Islamic Corporate Governance | 3 | 0 | 3 | 8 |
| IEF 515 | Participation Banking and Savings Finance | 3 | 0 | 3 | 8 |
| IEF 516 | Islamic Social Finance | 3 | 0 | 3 | 8 |
| IEF 517 | Accounting for Interest-Free Financial Institutions | 3 | 0 | 3 | 8 |
| IEF 519 | Introduction to Islamic Law | 3 | 0 | 3 | 8 |
| IEF 520 | Participation Banking Law | 3 | 0 | 3 | 8 |
| IEF 521 | Savings Finance Law | 3 | 0 | 3 | 8 |
| IEF 555 | Foundations of Economic Theory | 3 | 0 | 3 | 8 |
Non-IEF Program Elective Courses
| Course Code | Course Name | T | U | Credit | ECTS |
| ECON 503 | Microeconomic Analysis | 3 | 0 | 3 | 8 |
| ECON 504 | Microeconomic Theory | 3 | 0 | 3 | 8 |
| ECON 505 | Macroeconomic Analysis | 3 | 0 | 3 | 8 |
| ECON 506 | Macroeconomic Theory | 3 | 0 | 3 | 8 |
| ECON 508 | Econometrics | 3 | 0 | 3 | 8 |
| ECON 510 | International Economics | 3 | 0 | 3 | 8 |
| ECON 512 | Game Theory | 3 | 0 | 3 | 8 |
| ECON 517 | Time Series Econometrics | 3 | 0 | 3 | 8 |
| ECON 518 | Panel Data and Cross Section Models | 3 | 0 | 3 | 8 |
| ECON 527 | Behavioral Economics and Finance | 3 | 0 | 3 | 8 |
| ECON 529 | Data Science for Economists | 3 | 0 | 3 | 8 |
| ECON 532 | Data Mining and Big Data | 3 | 0 | 3 | 8 |
| ECON 533 | Machine Learning and AI | 3 | 0 | 3 | 8 |
| ECON 535 | Agent Based Modeling in Economics | 3 | 0 | 3 | 8 |
| EFIN 506 | Financial Econometrics | 3 | 0 | 3 | 8 |
For further information about the Master’s Program in Islamic Economics and Finance, please contact [email protected].
Ibn Haldun University - Islamic Economics and Finance MA Program Applicants are also advised to consult the official Ibn Haldun University graduate admissions pages for updated information regarding application procedures, required documents, and deadlines.