(Economics (Business Administration) Joint Master's Program (1+1) in collaboration with Lincoln University College, Malaysia)

Understanding the joint program

Economy is a social sphere focused on the production, distribution and consumption of goods and services. The study of economics is primarily concerned with analyzing the choices that individuals, businesses, governments, and nations make to allocate limited resources. Economics affects many other fields, including politics, psychology, business, and law.

Islamic banking is a system of financial transactions based on Sharia, the principles of Islamic law. The main principles of Islamic banking include the prohibition of interest-bearing transactions (riba), the prohibition of investment in certain types of business that are considered immoral from an Islamic point of view, and the requirements for transparency and fairness in transactions. Islamic banking uses joint participation mechanisms (mudarabah, murabaha) where the bank shares profits and losses with the customer rather than receiving interest.

Master's training in the field of economics (Islamic banking) joint education is carried out in full-time education in the form of 1+1 (1 year in Uzbekistan and 1 year in Malaysia). Training is organized on the basis of the credit-module system.

Academic profile

A curriculum with an emphasis on economics and Islamic banking typically involves learning the following key areas:

• Fundamentals of Islamic Economics: Study the basic principles and values of Islamic economics, including the principles of justice, solidarity and responsibility.

• Islamic Finance Market: Study the structure and characteristics of the Islamic finance market, including Islamic banking, Islamic insurance (takaful), investments, and more.

• Principles of Islamic Banking: Understand the basic principles and tools of Islamic banking such as Mudoraba (joint management), Murobaha (buying and selling), Ijara (lease).

• Islamic Financial Management: Teaching financial management techniques based on the principles of Islamic economics, including planning, accounting, analysis and control.

• Shariah Control and Audit: Study control and audit processes according to Shariah principles and international standards.

• Islamic Banking Ethics: Courses on ethical aspects of Islamic banking, maintaining the principles of fairness, honesty and trust.

Students also study general economic subjects such as macroeconomics and microeconomics, statistics, finance, etc. to gain a broad understanding of economic theory and practice.

Career opportunities

Graduates of Islamic banking can find employment in various fields related to finance and banking based on the principles of Islamic law. Some of the possible jobs for them are:

• Islamic banks: Jobs in Islamic banks where graduates can take up positions as analysts, product managers, financial advisors, etc.

• Islamic funds and investment companies: Working in companies specializing in managing and investing funds according to the principles of the Islamic financial system.

• Financial departments of companies: Working in financial departments of companies where knowledge and understanding of Islamic finance principles are required.

• Consulting firms: Work in consulting firms specializing in Islamic banking and finance.

• State organizations: work in state bodies engaged in financial regulation and control.

The master's degree gives graduates the right to continue their studies in relevant doctoral studies at universities in Malaysia, Uzbekistan or other countries abroad.