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The Doctor of Philosophy (PhD) in Islamic Finance and Economy is an innovative multidisciplinary program that provides students with the required analytical and research skills to understand, analyze, and interpret the workings of the rapidly expanding Islamic financial services and market sectors, and to tackle their emerging challenges and opportunities. The program is centered on the national priorities as set out in the Qatar National Vision 2030, local aspirations as enshrined in the objectives of Shari’a, and global targets such as the UN Sustainable Development Goals.
A key motivation for the PhD program is to develop unique and innovative approaches for the continuous transformation of economies to be more responsible, inclusive, and resilient. The policy relevance for Islamic finance continues to increase, alongside the need to understand and integrate concepts such as responsible finance, green finance, and circular economies.
The program focuses on Qatar’s economy and businesses with expected spillover benefits in the region and globally. In this sense, the program’s curriculum philosophy and content are unique as they refer to local values, national targets, and international goals. It also seeks to develop synergy between the three through transformation, social entrepreneurship, and shared prosperity and well-being.
The following are the main features of the program:
- Quantitative foundation
Examine how to critically investigate and analyze the relationship between finance, economics, and Shari’a by using both qualitative and quantitative research methodologies. - Shari’a studies
Acquire the abilities to interweave the tenets and values of Shari’a with the theory and practice of finance and economics, and develop a mindset to analyze, innovate, and create solutions to contemporary challenges. - Social entrepreneurship
Promote innovation, original thinking, and entrepreneurial creativity and acumen in applying Islamic finance and economics theories in Qatar and other circular economy contexts. - Sustainability
Provide students with an in-depth understanding of the pivotal role played by entrepreneurs in developing a sustainable economy and promoting inclusive and sustainable economic growth and wealth. - Responsible finance and economics
Foster a deep understanding of environmental, social, and governance concerns and analysis of Islamic finance and economic principles, through which students become prepared to participate effectively in reforming theories, practices, and policies.
A 60-credit program taught over four years in English that includes:
- Five core courses (12 credits)
Course Name Applied Econometrics Applied Topics in Usul Al Fiqh and Maqasid Al Shari’a Advanced Topics in Islamic and Sustainable Economy Advanced Topics in Islamic and Sustainable Finance Advanced Research Methods - Two elective courses (6 credits)
Course Name Students can select one course offered in the program Students can select one course from the PhD course catalogs of other HBKU colleges - Dissertation (42 credits)
This component includes dissertation proposal seminars, dissertation progress workshops, and dissertation defense seminars, in addition to a pre-dissertation comprehensive examination.
Applicants seeking admission to the PhD program in Islamic Finance and Economy should have an MA, MBA, MS, LLM, or an equivalent degree from a recognized institution in any of the following areas: Islamic Finance, Islamic Economics, Finance, Economics, Accounting, Business Administration, Management, Engineering, Statistics, Mathematics, Shari’a, or Law. Applicants should demonstrate strong evidence that they possess the qualities to become successful researchers and professionals. These include outstanding performance (minimum 3.0 GPA out of 4) from a recognized institution in relevant coursework as well as a proven track record of high motivation and commitment to innovative and original research. Applicants with prior research and work experience in financial services and related fields are preferred.
Please refer to the following table for a summary of the admission criteria:
| Program | PhD in Islamic Finance and Economy |
|---|---|
|
Required Field of Study |
Economics, Business, Finance, Accounting, Shari’a, or a related field |
|
Language Proficiency |
IELTS: 6.5 or TOEFL: 79 Further details we available on the website: admissions.hbku.edu.qa |
Tuition Fees
| Program | PhD in Islamic Finance and Economy |
|---|---|
| Total Program Tuition Fees | QAR 162,000 |
| Tuition Fees per Credit Hour | QAR 2,700 |
| Total Program Credit Hours | 60 |
| Program Duration | 4 years |