Islamic Economics and Finance

What is studied in this field

The Islamic Economics and Finance programme examines economic activity on the basis of Islamic principles. Students master the foundations of economic theory, microeconomics and macroeconomics, monetary and credit policy, banking and accounting.

The main focus is on Islamic finance: financing forms not based on interest (riba), such as murabaha, ijara and musharaka contracts, as well as sukuk (Islamic securities) and takaful (Islamic insurance) principles. The programme also covers zakat and waqf institutions, the rules of Islamic law governing transactions, and economic ethics.

Students learn to analyse financial statements, assess projects and work with statistical data.

What graduates become

Graduates are prepared to work as specialists in Islamic finance. They may hold the following positions:

• specialist in Islamic financial services;
• banking operations and lending specialist;
• financial analyst or economist;
• takaful (Islamic insurance) specialist;
• accountant or project coordinator in zakat and waqf funds;
• researcher or lecturer.

Where graduates can work

In Uzbekistan, graduates can find jobs in various sectors:

• banks offering Islamic financial services and their dedicated units (windows);
• insurance companies and investment funds;
• financial market, securities and audit organisations;
• government bodies and economic analysis and planning centres;
• charitable foundations and organisations managing social projects;
• educational and research institutions.

With experience, graduates may advance to managerial positions.

Who this programme suits

This programme suits:

• those interested in economics and finance;
• those who want to study Islamic history, fiqh and religious values in depth;
• those who enjoy working with numbers and thinking logically;
• those with analytical thinking who can work with documents and communicate well;
• those committed to honesty, responsibility and social justice.

If you wish to study economics in harmony with religious and moral values, this programme may be a good fit for you.