Islamic Banking and Finance

Skyline view of Kuala Lumpur

Interested in looking into a unique side of your Finance studies? Do you plan to intern or work for a financial institution which serves diverse clients? During this summer class consisting of 2 weeks of virtual lectures + 2 weeks traveling to Malaysia, you'll will get a better understanding of Islamic finance compared to conventional finance and identify how cultural and religious values are present in public finance. While in Malaysia, you'll visit financial institutions and organizations in the cities of Kuala Lumpur and Putrajaya, while also soaking up historical and cultural sites like the Batu Caves.

Learning objectives: 

  • Understand the relation between culture/religion and the economy, how culture and religion have shaped financial institutions, and explain how financial decisions are based in cultural and religious beliefs. A successful student will be able to work in a financial institution which serves diverse clients 
  • Gain a better understanding of Islamic finance compared to conventional finance. A successful student will be able to describe advantages and disadvantages of Islamic banking relative to conventional banking systems
  • Identify how cultural and religious values are present in public finance and compare and contrast policy making in Islamic countries compare to others
  • Learn how Islamic finance works in practice and its challenges

This program is jointly offered by the College of Arts and Sciences and the Fisher College of Business. This course will be comprised of students from both economics and finance.

Program Brochure

  • General Information

    Locations: Kuala Lumpur and Putrajaya, Malaysia
    Travel Dates: May 20, 2023 - June 3, 2023
    Class Enrollment: Summer 2023 (online + travel)
    Academic Credit: Economics 4797.02. This can be used as an intermediate elective option for Economics majors and minors.
    Faculty: Ida Mirzaie and Program Contact: Marisa Menier.4@osu.edu
    Application Deadline: January 4, 2023 at 11:59pm
    Information Session: November 9 at 4:30pm in 388 Arps Hall and December 5 at 4:30pm in 100 Enarson Classroom Building.

    More Information and Application

  • Eligibility

    In order to be eligible to apply for this program, students must have a cumulative 3.0 GPA (with exceptions on a case by case basis) and meet OIA's General Eligibility Requirements and Conditions for Participation.  

    Applicants must: 

    • Include an updated resume in their application
    • Be enrolled as Economics or Fisher College of Business students who are rank 2 and above

    • Have taken either  Economics 2001 or 2002 before spring semester commences. Preference will be given to applicants who have completed both courses. 

    • Have no student record actions of "Warning," "Probation," or "Probation by Special Action"

    All students will also be required to participate in on-campus pre-departure orientations organized by the Office of International Affairs.

  • Next Steps
    1. Read the program brochure. 
    2. Attend an information session: (see "Announcements" tab on the brochure for up to date times and links).
    3. Ask clarifying questions: Email the program manager for inquiries not covered in the information session (contact information is listed at the bottom of the page). 
    4. Review the "Finance" tab on the program brochure. 
    5. Apply for scholarships
    6. Clear your schedule: If you are accepted into this program, you must be able to attend the required course (see the "Academics" tab on the brochure for course information). 

    7. If you're an international student, review the FAQ's about studying abroad as an international student. 

    8. Apply for the program! As you sit down to access the application, make sure you have:

      • Your passport number. If you have not received your passport, or have not yet applied for one, you may still complete the online application, but remember that you may not participate in a study abroad program without a valid passport. Passports are taking up to 18 weeks, so please make sure you have ample time to apply for or renew an expired passport. 
      • Your Ohio State advising report, saved as a PDF to attach to the application.
      • Names and contact information of the individuals you would like contacted in case of an emergency.

      • A $150 application fee is required for all education abroad program applications. Should you choose to start an application, you will be notified to pay the application fee when it has been assigned as a material due. This application fee will be refunded only if you are not accepted to your study abroad program, if your program is canceled or if you withdraw your application prior to the application deadline.