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Bachelor of Banking and Finance

(Finance Islamic Track)


​​​Message from from Banking and Finance:

Dear Students,
Welcome to the Banking and Finance program in Dar Al-Hekma university​.
As a Director of the Banking and Finance program, I am delighted to be collaborating with you supporting your educational journey.

The Banking and Finance program is equipped to provide you with the knowledge, skills, and experiences required to succeed in your future professions and make valuable contributions to the banking and financial sector in Saudi Arabia. Our curriculum was designed in collaboration with top national and international universities. Developed by HASS School of Business, University of California Berkeley, USA and tailored specifically to the Saudi market by King Fahd University of Petroleum and Minerals.

I am fully committed to supporting your success, assisting your achievements, and allocating time for extra-curricular activities, side by side with your classes. In exchange, I expect you to work hard in your class and to participate in the department's various activities and look for opportunities to give back to our community.
I'm excited to follow your development and successes as you start along this fascinating financial career path.

Dr. Layla Khoja,
Assistant Professor
Director of the Banking and Finance program

About the Finance Islamic Track

Islamic finance has been introduced as a track in the banking and finance program to meet the requirements of the labor market and bridge the skill gap in this field. The Islamic financial industry has significantly grown attracting funds from all over the world and becoming a strong competitor to the conventional sector. Nevertheless, this growth has not been matched with the availability of qualified professionals. Hence, this new track will provide students with the necessary skills to academically and professionally prepare them to be able to handle the challenges faced by this dynamic field. Accordingly, the curriculum was developed using courses and teaching strategies which develop the students' analytical knowledge and skills. 

For those interested, Dar Al-Hekma University offers a variety of undergraduate scholarships and educational loans. Other than this bachelor’s degree, the University also offers a bachelor’s degree in marketing

Program Mission

Graduating professionals equipped with knowledge, skills, and values in the areas of banking, investment, and finance within an academic environment that encourages scientific research and community engagement.

Program Goals

  • Expand the Banking and Finance program in alignment with job market needs.
  • Enrich the Banking and Finance profession by graduating qualified professionals.
  • Increase research opportunities in the area of Banking and Finance.
  • Renew NCAAA accreditation for the Banking and Finance program.
  • Promote Banking and Finance profession to the community.

Why Choose the Banking and Finance Program​ at Dar Al-Hekma University

  • The banking and finance curriculum combines theory and concepts with practical skills needed in the job market.
  • The program associates itself with the industry through strong links with prominent employers and prepares its graduates to meet the requirements of the industry.
  • The curriculum was designed in collaboration with top national and international universities and developed by the Hass School of Business at the University of California Berkeley, USA and tailored specifically to the Saudi market by King Fahd University.
  • The program is accredited by the National Commission of Academic Accreditation and Assessment (NCAAA).
  • The faculty of the program are a mix of highly qualified international and national scholars who hold degrees from reputable world-class universities.​

Graduate Attributes​

  • Knowledgeable of the broad conceptual and theoretical aspects of their fields.
  • Informed of the trends and dynamics of their relevant industries.
  • Effective problem solver in different professional situations.
  • Capable of making effective decisions.
  • Persuasive oral and written communicators.
  • Committed to ethical practices and social responsibility.
  • Independent and collaborative team players.
  • Emotionally intelligent and self-aware.
  • Lifelong learner.
  • Researcher and investigator.
  • Tech-savvy.

​​​Admission Requirements​


​​​​​ Programs​
​​Linguaskill ​Score​​
Required ​Certificate Percentage​​
Qudurat Test Score​​​
​Othe Admission Requirement
Bachelor​ of Banking and Finance 
(​Islamic Finance Track)
162 or above

For further details about admissions,​click here

​​ Learning Outcomes

Upon successful completion of this program, graduates will be able to:​​


  • Explain concepts, principles, and practices related to Business.
  • Identify fundamentals and theories related to Banking and Finance.
  • Recognize the implications of domestic and foreign influences on financial markets and financial institutions.


  • Demonstrate the ability to critically analyze, manage, and make decisions to deal with the challenges and complexities of the national and global business environment.
  • Use techniques and methods of inquiry to collect, manage, and interpret data that would support strategic decisions.
  • Demonstrate effective written and oral communication skills.
  • Apply appropriate techniques to evaluate various scenarios related to corporate finance, investment, commercial and Islamic banking, ​and risk management.
  • Demonstrate analytical and research-based problem-solving skills to formulate financial decisions and recommendations.


  • Demonstrate an understanding of community engagement, and professional, ethical, and legal responsibilities.
  • Work independently and/or as part of a team. ​

Plan of Study​

​​​​Year One
Semester – Fall Semester – Spring

Course Code

Course Title

Credit Hours

Course Code

Course Title

Credit Hours

​BBUS 1301
Introduction to Business
3MATH 1303Calculus3
MATH 1301College Algebra3BECO 1201
Principles of Microeconomics
BMKT 1301
Principles of Marketing Management
BACC 1301
Principles of Financial Accounting
ICTC 1301
Information and Communication Technology
3BBIS 1301
Information Systems Foundations​
COMM 1301Communication Skills I
3BMGT 1301Principles of Management3
ARAB xxxxArabic Studies3ISLS xxxxIslamic Studies3
Total Credit Hours 18 Total Credit Hours 17

Year Two
Semester – Fall Semester – Spring

Course Code

Course Title

Credit Hours

Course Code

Course Title

Credit Hours

​BFIN 2302
Financial Management
3BBUS 2302
Quantitative Analysis for Management
BACC 2301
Principles of Managerial Accounting
3IBNF 2302
Introduction to Islamic Banking
and Finance ​
BECO 2301 ​
Principles of Macroeconomics
3BMGT 2301
Principles of Organizational
BSTA 2301Statistics for Business3ARAB xxxxArabic Studies3
COMM 1302Communication Skills II3
ISLS XXXXIslamic Studies2
ITAI1201Introduction to Artificial Intelligence ​
2XXXX xxxx
Required General Ed Electives
Total Credit Hours 17 Total Credit Hours 17
Year Three 
Semester – Fall Semester – Spring

Course Code

Course Title

Credit Hours

Course Code

Course Title

Credit Hours

​BMGT 3301
International Business
3BMGT 3304Strategic Management3
IBNF 3302​
Intermediate Islamic Banking 
and Finance
2BNFN 3304Investment Banking3
BFIN 3301​
Financial Modeling3BBUS 3302 ​
Research Methodology
BNFN 3302
Commercial Bank
3EMOI 1201Emotional Intelligence2
BNFN 3303
Investment Analysis
and Portfolio Management
3IBNF 3303​
Islamic Commercial Law 3
ENTR 3301
Entrepreneurship and
Design Thinking
3XXXX xxxx
Required General Ed Electives
Total Credit Hours 17 Total Credit Hours 17
Year Four
Semester – Fall Semester – Spring

Course Code

Course Title

Credit Hours

Course Code

Course Title

Credit Hours

​BBUS 4301
Risk Management of Islamic Financial Institutions​
3IBNF 4204​
Sukuk - Structuring, Practices and Operations
IBNF 4302​​
Islamic Capital Markets and Asset Management 3BNFN 4303
Internship: Banking and
XXXX xxxxSchool/Program Elective3BNFN 4304Financial Policy3
BBBF 1101
Basic Body and
Brain Fitness
1XXXX xxxxFree Electives3
ISLS xxxxIslamic Studies2
XXXX xxxxFree Electives3
Total Credit Hours 15 Total Credit Hours 12

​Career Prospects

​​​​​​The program equips students with the necessary skills that qualify them for a variety of career paths/jobs in the market including, but not limited to: ​

  • Financial analyst
  • Banker
  • Financial manager/officer
  • Financial markets analyst
  • Fund/Investment manager
  • Financial advisor/consultant
  • Financial planner
  • Investment analyst
  • Investment banker
  • Insurance specialist/officer
  • Real estate manager
  • Stock broker
  • Portfolio manager
  • Bank manager/officer
  • Development banks/Institutions officer
  • Venture capital professionals
  • Sharia compliant specialist (Students from the Islamic track)​

​​Islamic Finance Track Course Descriptions 

Year 1: Semester One

BBUS 1301: Introduction to Business (3) Prerequisite(s): None
This course gives an understanding of the aims of business activity and overview of the environment in which business works. All course topics are covered in relation to both the international business environment, in general, and to Saudi business environment, specifically. It outlines major local, regional and international groups within and outside business and their influences on business organizations. It also addresses the different forms of business organizations. The course also covers the main components of a typical business plan.

MATH 1301: College Algebra (3) Prerequisite(s): None
This course provides a broad-based foundation in algebra which emphasizes important concepts and skills covering the concepts of algebra. It emphasizes on polynomials, solving equations (linear and nonlinear) and inequalities, exploration of functions and their graphs, exponential and logarithmic concepts and equations, as well as other topics. The course uses real-life applications reflecting the concepts in the course. Technology is integrated into this course by using a graphing calculator.

BMKT 1301: Principles of Marketing Management (3) Prerequisite(s): None
​This course focuses on marketing principles and the basic marketing decisions facing a firm. It emphasizes the assessment and understanding of the marketplace, marketing strategies, including segmentation, targeting and positioning, product, price, place, and promotional strategies. The course also provides a framework for understanding and implementing these strategies in the local market.

COMM 1301: Communication Skills I (3) Prerequisite(s): None
This course focuses on the development of intellectual viewpoints, class discussions and debates. The course emphasizes the writing skills needed to produce different types of essays, demonstrating key rhetorical devices and correct citations. It highlights the processes needed for essay development.

ICTC 1301: Information and Communication Technology (3) Prerequisite(s): None
The course introduces the basic computer knowledge and skills required in the everyday professional and personal use of computers. It focuses on the use of twenty first century technology in the workplace. The course emphasizes computer essentials, word processing, spreadsheets, and presentation software. It further provides a foundation for the use of the Internet, World Wide
Web, online communication tools, information security, and latest trends for computers and information.

Year 1: Semester Two

BACC 1301: Principles of Financial Accounting (3) Prerequisite(s): BBUS 1301
This course provides students with the fundamentals of financial accounting. It explains accounting concepts, theory and procedures for proprietorships, partnerships and corporations. The course covers the accounting cycle as reflected in the sequence of accounting procedures used to record, classify and summarize accounting information in financial reports. All these topics and other advances topics of financial accounting are discussed in relation to the Saudi business environment.

BMGT 1301: Principles of Management (3) Prerequisite(s): BBUS 1301
This course covers the fundamentals of the management process. It covers the basic functions of management: planning, organizing, directing and controlling. The course also includes social responsibilities, political influences and ethical considerations as they affect the management of organizations. The course also introduces the students to international business, production, communications and decision making in terms of management activities.

BECO 1201: Principles of Microeconomics (2) Prerequisite(s): MATH 1301
This course introduces the basic economic concepts related to individual decision makers in the economy: households, businesses and governments. It focuses on the definition of economic problems and market systems and addresses factors of production and public expenditures issues. The course analyzes consumer and firm behaviors in different market structures.

MATH 1304: Calculus I Prerequisite(s): (3) MATH 1301
This course provides an introduction to the use of calculus in some of the basic quantitative methods for business and social sciences. It emphasizes computational skills, ideas, and problem solving. It also introduces the methods of least square and regression to model real-life situations and uses the concepts of differentiation and integration in business application.

BSIS 1301: Information Systems Foundations (3) Prerequisite(s): BBUS 1301 + ICTC 1301
This course provides an overview of information systems (IS) and information technologies (IT) functions and challenges in different organizations and institutions. It presents managerial and organizational views of how information, communication and office technologies function in today’s corporate world. It also introduces the technical environment of a business area and the different types of Information Systems used in the various organizational levels.

Year 2: Semester One

BFIN 2302: Financial Management (3) Prerequisite(s): BACC 1301
This course focuses on the basic theories, concepts and analytical techniques in Financial Management. It focuses on goals, objectives and functions of the financial manager as well as analysis of financial statements. It emphasizes on financial assets valuation and making long term investments and financing decisions particularly decisions related capital structure and capital budgeting. All topics are discussed with reference to the Saudi Market.

BECO 2301: Principles of Macroeconomics (3) Prerequisite(s): MATH 1301
This course introduces macroeconomic analysis related to economic relationships. It covers national income accouting and determination, business cycles, aggregate demand, aggregate supply, inflation, unemployment, fiscal and monetary policies, money and banking, economic growth and development, and international trade. It focuses on the characteristics of the Saudi business environment in business operations

BFIN 2301: Financial Markets and Institutions (3) Prerequisite(s): BECO 1201 + BECO 2301
This course provides an overview of various capital markets, participants, securities traded, trading process, and the process of financial intermediation. It focuses on the role of financial markets and institutions in the process of capital formation and allocation in the economy. The course presents a comparison between the operations of money and capital markets on one hand and the operations of key financial institutions on the other hand. It also discusses the Islamic perspective to financial markets and institutions and the Shariah-compliant alternatives in terms of financial products and solutions. The course emphasizes the Saudi business environment and the related regulatory framework.

BSTA 2301: Statistics for Business (3) Prerequisite(s): MATH 1301
This course aims at providing the necessary tools to analyze statistical information critically. It introduces concrete examples handling data sets and using standard techniques for displaying, summarizing and analyzing data. The course also covers business applications using statistical inference and hypothesis testing techniques for business problem-solving and decision-making. 

Year 2: Semester Two

BBUS 2302: Quantitative Analysis for Management (3) Prerequisite(s): BSTA 2301
This course provides an overview of operations research/ management science methods and its role in decision-making. The emphasis is on problem formulation and managerial interpretation. The course further emphasizes how managers can use this approach to design and control business processes to increase profitability and decrease costs for the organization. Quantitative procedures are introduced through situations that include both problem formulation and technique application integrated with personal computer software.
BACC 2301: Principles of Managerial Accounting (3) Prerequisite(s): BACC 1301
This course provides an overview of the fundamentals of managerial accounting, with emphasis on the accumulation and usage of cost data. It also covers accounting systems, decision making, cost analysis, budgeting, management evaluation and control.

IBNF 2302: Introduction to Islamic Banking and Finance (3) Prerequisite(s): BFIN 2301
The course introduces the main principles of Islamic banking and finance with specific focus on its conceptual basis, historic development, components, structures, the current size, diversity and global spread of the industry. It explores the foundational and practical differences between Islamic and conventional banking business models. The course provides a comprehensive discussion of the principles and practices of Islamic contract law, Takaful, Islamic microfinance, and the shariah governance in Islamic finance industry. It focuses on the major financial instruments, products and services offered by Islamic banks. All topics are discussed in relation to the Saudi business environment. 

Year 3: Semester One

BMGT 3301: International Business Management (3) Prerequisite(s): BECO 2301 + BMGT 1301
This course focuses on the nature and scope of international business and introduces the three environments in which international business managers must operate. It also provides an understanding of domestic, international, and foreign environments. It addresses the concepts of international business in local market conditions.

BNFN 3302: Commercial Bank Management (3) Prerequisite(s): BFIN 2302
This course introduces the management theory and practice relevant to banking institutions. It focuses on the analysis of commercial banks' financial statements and performance. It assesses the asset-liability management strategies applied in commercial banks. It also evaluates the management strategies of different uses and sources of funds in commercial banks. The course emphasizes on the Saudi Commercial Banking practices and laws.

IBNF 3302: Intermediate Islamic Banking and Finance (2) Prerequisite(s): IBNF 2302
The course is an extension of the course Introduction to Islamic Banking and Finance. It explores the Islamic finance principles, practices, performance, problems and prospects in a deeper manner. It exposes the students to more advanced concepts and specific issues in the practice of Islamic banking and finance. It also provides an insight into topical issues relating to Islamic financial instruments, Islamic asset and fund management and related risk management issues. This course offers a comprehensive insight into the regulatory framework that comprises Islamic capital markets.

BNFN 3303: Investment Analysis and Portfolio Management (3) Prerequisite(s): BFIN 2302
This course focuses on the skills and competencies necessary for understanding, analyzing and applying the concepts and theories of investment in the Business environment. It provides an understanding of the return generating process of assets, including stocks and bonds. In addition, it details how various assets can be combined in efficient portfolios within the mean variance framework.

BFIN 3301: Financial Modeling (3) Prerequisite(s): BFIN 2302
The course provides the necessary skills to solve real-world financial problems. It focuses on financial topicsrelated to employers and the industry. The course coversfinancial models (MS Excel) related to financial statements analysis, pro forma financial statements, budgeting and forecasting, time value of money, capital budgeting, and securities valuation.

Year 3: Semester Two

BMGT 3304: Strategic Management (3) Prerequisite(s): BMKT1301 + BFIN 2302 + BMGT 3301
This course provides an overview of strategic management concepts and theories, and their importance to the organization, industry and society. It covers the analyses, decisions and actions an organization undertakes in order to create and sustain competitive advantage. It presents an insight into the successful operation of an organization in a complex global economy. This course addresses these operational issues in the Saudi business environment.

BBUS 3302: Research Methodology (3) Prerequisite(s): BSTA 2301
This course provides an overview of the nature of business and management research. It introduces the fundamental tools of research methodology. It also includes training in the areas of primary and secondary data collection and qualitative and quantitative methods of organizing data and utilization of research findings.

BNFN 3304: Investment Banking (3) Prerequisite(s): BNFN 3302 + BNFN 3303
This course introduces the concepts and scope of investment banking. It focuses on the primary functions of investment banking such as mergers and acquisitions (M&A), IPO, leveraged buyouts (LBO) and corporate restructuring and the different valuation methods. It also covers ethical issues and the regulatory framework of investment banking.

IBNF 3303: Islamic Commercial Law (3) Prerequisite(s): IBNF 3302
This course introduces students to the concepts, principles and applications of Islamic commercial law known as Fiqh Mua’malāt and the corresponding Shariah maxims ((القواعد الفقهية. It highlights the core principles of Islamic commercial transactions. It also examines the applications of Islamic contracts by Islamic financial institutions. The course also covers the Sharia standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and regulations/guidelines issued by the Islamic Financial Services Board (IFSB). All topics are discussed in relation to the Saudi and Gulf business environment.

Year 4: Semester One

IBNF 4301: Risk Management of Islamic Financial Institutions (3) Prerequisite(s): IBNF 3303
This course provides a thorough understanding of the key risks faced by conventional financial institutions and those specific to Islamic financial institutions. It is exclusively designed to provide comprehensive and practical knowledge of risk management in conventional and Islamic financial institutions. The course highlights the relevant features, standards, regulations, operations and processes related to risk management. It emphasizes on the techniques used to monitor and manage risks faced by financial institutions, including credit risk, liquidity risk, market risk, interest rate risk, foreign exchange rate risk, shariah non-compliance risk, and operational risk. It will also focus on the specific risks unique to the Islamic financial institutions i.e. le
risks, non-Shariah compliance risk (fiduciary risk) and displaced commercial risks. This course covers also the central banks’ macro prudential policies in light of the specific risks to the Islamic finance industry.

IBNF 4302: Islamic Capital Markets and Asset Management (3) Prerequisite(s): IBNF 3303 + BNFN 3303
This course provides an overview of the application of Islamic finance principles in developing the Islamic capital markets. It also discusses the global capital market instruments such as Sukuk, securitization, structured finance, and project finance. It explains the structure, governance, dynamics and operations of Islamic capital markets in general as well as Islamic capital market instruments. It provides an up-to-date analysis of current Islamic investment techniques. It addresses important products and instruments for hedging Islamic investment portfolios in order to protect and preserve the wealth in a Shariah-compliant manner. The course examines these concepts and their applications in the context of Saudi Arabia. 

Year 4: Semester Two

IBNF 4204: Sukuk - Structuring, Practices and Operations (2) Prerequisite(s): IBNF 4302
This course introduces the theoretical and practical aspects of Sukuk globally and in GCC countries. It discusses rules and principles of Sukuk and its legal structure. The course highlights the process of Sukuk actual issuance in capital markets and their implications. It also covers the controversies around Sukuk and their future developments. It provides an effective structured approach to analyze types of Sukuk and its current and future role in infrastructure development. In addition, this course presents a comprehensive and practical knowledge of the roles and relationships among its stakeholders and service providers, documentation, governance, operations, challenges and related issues. The course focuses on Sukuk transactions in comparison with the conventional bonds.

IBNF 4303: Internship: Banking and Finance (3) Prerequisite(s): BNFN 3302 + IBNF 4301 + IBNF 4302
This course provides the opportunity to gain knowledge through actual job experience in the profession. Internships represent job experience which is aimed at supplementing the classroom learning process and to allow familiarization with real world experiences related to the Banking and Finance profession. The internship program period covers 180 hours of working experience applied at a bank or a related financial institution locally or internationally.

Dr. Karima Saci

Assistant Professor

Hekma School of Business and Law

Dr. Layla Hussin Khoja

Chair - Assistant Professor

Hekma School of Business and Law

Ms. Saida Khalifa


Hekma School of Business and Law

Key Facts

Program Name

Banking and Finance

Current Number of Students


Number of graduates


Employability Statistics




Dr. Layla Hussin Khoja

Chair, Finance & Accounting Department; Director, Banking & Finance Program

PhD, Finance, University of Southampton, UK, 2015

MBA, Business Administration, King Abdul Aziz University, KSA, 2007

BSc in Accounting, King Abdul Aziz University, KSA, 2002

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