PhD Islamic Banking and Finance


Keeping in view the increasing and growing demand of Islamic banking and finance industry, the Institute of Islamic Banking (IIB) planned to launch first ever program in the Lahore dedicated to fulfill the demand of this increasing trend. Growth of Islamic banking in the country has been over 30% in the last few years, which is certainly above the average global growth rate of Islamic banking and finance. If this trend continues, then one should expect that in the next three years Islamic banking assets will at least double from its current size of Rs926 billion.

Apply Now(For Fall 2016 Session)


Ph.D in Islamic Banking and Finance is envisioned as a pioneering educational and training program for participants to acquire both theoretical knowledge and practical skills to win a distinguished place in the emerging global market of Islamic Banking and Finance.

Aims and Objectives

Ph. D in Islamic Banking and Finance is aimed at providing relevant education and training in all aspects of the operation of Islamic Banking. The program's specific objectives are:

  • To provide opportunity to graduates with relevant experience to acquire knowledge and training for a career in Islamic Banking and Finance.
  • To train executives desiring specialization in Islamic Banking and Finance in expanding banking and financial institutions.
  • To provide opportunity for graduates in related disciplines to prepare them to enter the ever-expanding job market in Islamic Banking and Finance.

Career Opportunities

The participants after successfully completing the Ph. D program are expected to be competent for a wide variety of positions in Islamic Banking. They can be considered for jobs in both public and private educational institutions, research organizations, State Bank of Pakistan, and commercial banks. They can also expect to hold positions in various Federal and Provincial ministries.

Pre-requisite Courses

The participants will have to go through a combination of designated pre-requisite courses, as decided by the Committee of IIB, for individual academic preparedness.

Scheme of Studies

In one year, i.e., within the first two to three semesters of the program, participants are expected to complete the course work of 18 credit hours (4 Core courses and 2 from Electives) and then carry out research and produce their Ph. D thesis for 27 credit hours after succesfully passing the comprehensive exam.

Core courses


  • Advanced Techniques in Qualitative Research
  • Advanced Techniques in Quantitative Research
  • Islamic Jurisprudence: Ijtehad and Maqasid al Shariah
  • Islamic Financial Instruments (Designing and Pricing)


Elective courses (Any two)

  • AAOIFI and IFSB: Accounting, Auditing and Governance Standards
  • Economic Policy and Analysis of Islamic Banking and Finance
  • Current Issues in Islamic Banking and Finance
  • Islamic Investment and Fund Management
  • Islamic Financial Reporting and Structuring
  • Islamic Microfinance
  • Seminars in Islamic Banking and Finance
  • Takaful Oprations
  • Global Capital Market – A Critical Survey

Note: Non-credit but compulsory language deficiency courses will also be offered as per the decision of Interview commettee.

Seminars & Workshops

In each course offered, last 5 sessions will be in the form of workshops and seminars with guest speakers/experts in the relevant field.

Comprehensive Examination

Comprehensive Examination and other procedures for appointment of examiners, evaluation of thesis etc would be as per Handbook for Advanced Studies of UMT.

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