Islamic Economics and Finance (English)
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.
Mission
Its mission is to contribute to the science of economics and finance; to educate broad-minded individuals who have a sense of social responsibility, well-developed research and problem-solving skills and international competencies, are ready for employment in the fields where graduates of faculties of business and management sciences work and particularly in the participation sector, respect ethical rules and are open to multidisciplinary approaches; and to serve society within multidimensional quality standards.
Vision
To be an international department focused on expanding and developing the boundaries of the science of economics and finance in theory and practice, with the aim of contributing to the development of the participation finance sector, particularly in Turkey.
Our Programme Educational Objectives:
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.
Our Programme Outcomes:
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.
Established in 2016 within the Istanbul Sabahattin Zaim University Faculty of Business and Management Sciences, the Department of Islamic Economics and Finance offers an educational programme that addresses, from theoretical and practical perspectives, how economic activities can be conducted in line with Sharia principles. As an alternative to problems caused by the current global system, such as excessive financialization, the creation of value without real backing and income inequality, Islamic economics proposes a stable model based on the real economy in which prosperity is shared fairly. Throughout the four-year undergraduate programme, students are offered core courses in areas such as Islamic economic thought, Islamic commercial law, Islamic finance and banking, and Islamic insurance, as well as courses in economics, finance, accounting, statistics and econometrics, with the aim of providing both field-specific and interdisciplinary competence.
Our programme aims to be a pioneering educational institution in participation finance that is recognized at national and international level and makes theoretical and practical contributions. To this end, the aim is to educate individuals who have a multidisciplinary perspective, well-developed research and problem-solving skills, are committed to ethical principles and act with a sense of social responsibility. Our graduates can work in the public and private sectors, particularly in participation banks, insurance companies, savings-based financing institutions and portfolio management companies, where employment is steadily growing, and can also find opportunities in regulatory public institutions and national/international academic institutions.
