Bachelor of Business (Islamic Business)

The Bachelor of Business (Islamic Business) (CRICOS Course Code: 109327E) is a three-year full-time degree that provides an increased ability for students to critically evaluate market behaviour within the scope of Islamic banks and financial institutions. From performance to organisation behaviour, students will develop an appreciation of the effects that these institutions have on the market. The degree will also enable students to enhance their career opportunities internationally. With the containing growth of Islamic financial institutions worldwide, Muslim and Non-Muslim students will have the benefit of a constantly growing, evolving field that is ripe with opportunities. Banks, corporate businesses and financial institutions are some of the places seeking qualified experts in this field. On completion, graduates acquire disciplinary skills in the ‘finance and budgetary’ sector complemented by extended business and management skills that uniquely equip them to develop careers in business and accounting in the private and public sectors in Western markets as well as the rapidly expanding Islamic finance markets in Southeast Asia, the Middle East and the Gulf Regions.

The degree is comprised of comprised 24 units (subjects) studied over 6 trimesters, 4 units per a trimester session. Each trimester will comprise 13 weeks of face-to-face classes, and one-week end of session exam period. Each trimester, therefore, is contained within a 14-week block While there will be three trimesters per year, the third or summer trimester will be optional.

The course is accredited by the CPA, CA ANZ and ACCA. Students will study a core of units covering specialization for CPA/ CA professional requirements. All students will study a core of 22 units covering specialisation for professional requirements in accounting, finance, law, and the foundations in business. They will also study two elective units focusing on accounting to further enhance their specialisation. Students who take Islamic Business will study units that enable them to apply for registration of as a Certified Islamic Public Accountant (CIPA). Thus, the Islamic Business program allows a student the potential to register for both CPA/CA and CIPA

Why Choose Islamic Business?

• Accounting for the Future and the Future of Accounting: There has never been a more exciting time to earn an accounting qualification. This is because accounting is undergoing a revolution as it seeks to account for new forms of capital as the world shifts from an Industrial to an Information Age. In addition to finances, today’s accounting methods must consider human, intellectual, technological, environmental and other emerging forms of capital.
• One of the ten most popular degrees studied in Australia by both domestic and international students: Accounting is the common language of business both domestically and globally. l High demand for people with accounting background: The need for finance, taxation, technology (eg FinTech), general business,
• One of the fastest growing areas in Business: The world’s Islamic population is expected to increase to 2.5 billion by 2022. Ten of the word’s 25 rapid growing economies are in the Islamic world. These factors, coupled with the oil wealth of the Islamic States in the Gulf region has made Islamic finance and business studies an important disciplinary area.
• Increasing need for Shari’ah (Islamic) compliant business specialists: The rapid growth of wealth in the Islamic world and their global investments including investments in non-Islamic countries have resulted in a corresponding need for business graduates with expertise in Islamic Finance and Accounting and a good understanding of Islamic-compliant business. Unique specialisation: the course offers an opportunity for a unique area of specialisation. It allows you to stand out and enhances your employment prospects.
• Combination with standard business subjects: Students get to study standard business subjects in addition to core Islamic Business subjects.
• Maximum career flexibility: You gain the flexibility to work in both Islamic countries and Western countries that need Islamic finance specialists.
• The opportunity to become a Certified Practicing Accountant: The Accounting degree provides you with the opportunity to register as a member of CPA or the Chartered Accountants Australiana and New Zealand (CA ANZ) or the Institute of Public Accountants (IPAA), the Chartered Institute of Management Accountants (CIMA) and as Certified Islamic Accountants (CIPA) subject to the rules and regulations of the relevant professional bodies

Learning Outcomes

Upon completion, students will:

• A broad and coherent body of knowledge, with depth in the underlying Shari’ah principles as the basis for social conduct and business in Islamic societies and ability to apply such principles.
• A broad and coherent body of knowledge, with depth in the underlying principles and concepts in the key cognitive areas of business, including but not limited to accounting, economics, management, marketing and business law in both the national and international contexts
• Ability to apply principles and concepts in the key cognitive areas of Islamic Business (including but not limited to: Shari’ah business ethics, Islamic Accounting Standards, Islamic principles of risk management, Islamic banking and Shari’ah compliant financial products)
• Ability to critically analyse and evaluate information from academic research and other sources using different media to enable evidence-based decisions and to communicate effectively and professionally to diverse stakeholders using a range of recognized communication and presentation modes and methods appropriate to specific business contexts
• Ability to critically evaluate and apply principles of sustainability, corporate social responsibility and general professional ethics and Shari’ah ethics and governance
• Ability to communicate effectively both orally and in writing with individuals and organisations and to work in collaboration with others to achieve common