Islamic economics and finance sets out, with its theoretical and practical aspects, how economic activities can be carried out within the framework of Sharia principles. In this direction, in contrast to the current economic system, which leads to problems such as excessive financialization, the creation of value without real backing and the unjust distribution of wealth and which generates crises, Islamic Economics envisages a stable economic structure based on the real economy, in which prosperity is shared fairly and which is free from excessive uncertainty and risk.
Established in 2016, the Department of Islamic Economics and Finance offers students, during their undergraduate studies, a four-year curriculum that includes general economics and finance courses in addition to courses on the theoretical background of Islamic economics, the rules and principles of Islamic commercial law, and Islamic finance practices. In this framework, while students learn the fundamentals of the field through courses such as Islamic Commercial Law, the Holy Qur’an and Economic Principles, Islamic Economic Thought, Foundations of Islamic Economics, Islamic Economic History, Islamic Finance and Banking, Capital Markets and Islamic Insurance, the aim is also for them to gain knowledge of economic theory and current economic issues through courses such as Introduction to Economics, Principles of Accounting, Corporate Finance, Statistics, Econometrics, and Economic Growth and Development.
In addition, with the option of 21 elective courses in the 8-semester programme, students can learn foreign languages, turn to sub-disciplines they are interested in, or take courses from other departments of the Faculty of Business and Management Sciences.
Opportunities Offered to Students:
- Opportunity to learn foreign languages (free of charge),
- Opportunity to do a minor (with a scholarship for the normal duration of the major programme),
- Opportunity to do a double major (with a scholarship for the normal duration of the double major programme),
- Opportunity to study abroad through international exchange programmes (1 or 2 semesters),
Career Opportunities:
As graduates of the Faculty of Business and Management Sciences, graduates of the Department of Islamic Economics and Finance can work in public and private sector organizations. Students graduating from this programme can also find opportunities to work in academic institutions related to the field. These institutions include both national and international universities and research organizations. Currently, there are Islamic economics and finance programmes at undergraduate level at 2 universities and at graduate level at 13 universities in Turkey.
Another area in which our students can be employed is institutions and organizations in the private sector. They can work in domestic and international companies operating in different sectors in our country in accordance with Islamic principles, and can also find employment in participation banks, participation insurance companies, savings-based financing companies and participation portfolio management companies. Currently, 6 participation banks operate in Turkey with 1,207 branches and a 6.3% sector share. In addition, the share of participation insurance companies in the insurance sector has reached around 4.3%. In the growing savings-based financing sector, more than 30 companies are operating.
In addition, regulatory state institutions responsible for sector regulations are also potential places of employment. In line with the increasing initiatives and targets set in the public sector regarding Islamic economics and finance in recent years, they can also find employment in the relevant public institutions. They can also be employed in international Islamic economics and finance organizations.
Prof. Dr. Servet BAYINDIR
Head of the Islamic Economics and Finance (English) Programme
