Introduction

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 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 candidates who want to pursue a career in academia and scholarly authorship. The focus within basic research methods is on developing the candidate’s 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 organization or field to create the impact through his or her research within Islamic business and finance. This research would more suit 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 organizations). By completing this PhD, individuals will bring an unparalleled combination of independent thinking and business knowledge to their organization.

Program 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.

Eligibility for Admission

BS/MS/MPhil or equivalent degrees with a minimum CGPA of 3.00 out of 4.00 in the semester system or First Division in the annual system in the most recent degree obtained from Pakistani or foreign universities.

The applicants shall be required to submit a Statement of Purpose, which shall form an integral part of the application.

All applicants to PhD programs shall be required to take one of the following non-subject specific admissions test:

1. Minimum 60% marks in The Graduate Record Examination (GRE) test administered by the Education Testing Service;
2. Minimum 60% marks in a graduate admission test administered by the Education Testing Council;
3. Minimum 60% marks in NTS-GAT General
4. Minimum 70% marks in the Institute’s own test.

Registrations are offered in the PhD programs throughout the year.

PhD Scheme of Studies I: MS/MPhil or equivalent to PhD

Program Structure

A student admitted to the PhD program with 18 years of relevant requisite qualification will be required to complete a minimum twenty four (24) credit hours of coursework and thirty six (36) credit hours of research work culminating in a thesis. A number of non-credit research seminars will be part of the program to significantly improve the research capacity of the scholars. The minimum period for completion of PhD program will be three (3) years, whereas the maximum period will be eight (8) years.

The scheme of the courses and the semester wise breakup of the PhD program are given below.

A.Course work: 24 Credit Hours
B.Thesis: 36 Credit Hours
Total Credit Hours for PhD Program (A+B): 60 Credit Hours

Semester wise breakup of courses will be based on the following model-scheme of studies:

Semester 1

Semester 2

Year Two & Three

• List of specializations offered:
• List of elective subjects within specialization:

PhD Scheme of Studies II: BS or equivalent to PhD

Program Structure

A student admitted to the PhD program with 16 years of requisite qualification will be required to complete a minimum forty eight (48) credit hours and thirty six (36) credit hours of research work culminating in a thesis. A number of non-credit research seminars will be part of the program to significantly improve the research capacity of the scholars. The minimum period for completion of PhD program will be three (3) Program Structure years, whereas the maximum period shall be eight (8) years.

The scheme of the courses and the semester wise breakup of the PhD program are given below.

A.Course work: 48 Credit Hours
B.Thesis: 36 Credit Hours
Total Credit Hours for PhD Program (A+B): 84 Credit Hours

Semester wise breakup of courses will be based on the following model-scheme of studies:

Semester 1

Semester 2

If a student successfully completes the full set of requirements for the award of an MS/MPhil (or equivalent) degree during the course of their PhD studies, the Institute may award the applicable degree to such students upon completion of the relevant requirements. Such students will complete further 06 credit hour course work or thesis dissertation.

Special Semester for Exit with MS/MPhil degree

Note: This special semester will only be completed by those students who want to exit with an MS/MPhil degree upon the completion of relevant requirements.

Semester 3

Semester 4

Year Three & Four

• List of specializations offered:
• List of elective subjects within specialization: Do we have more elective courses in PhD IB&F?