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

Modes of Delivery

The course will be delivered by face-to-face lectures supplemented with online materials through Moodle (NAPS eLearning) to be accessible on and off campus. There will be 3-hours of face-to-face teaching per week for any unit, consisting of three (3) one-hour sessions (2-hours of lectures and 1-hour of tutorials or other suitable variation of 3 hours) with each class being 50 minutes per teaching time and a 10 minute break per hour.

Classes will comprise lectures, seminar-type discussions and presentations. Students will be required to complete essential reading and any related assigned tasks before each class in order to be able to participate fully in discussions. Lecturers will use PowerPoint or other electronic presentations whenever possible.

All students must have been formally admitted to the Academy before commencing their degree program. Admission to the course is based upon the ATAR and NAPS’ Admissions Policy. To be admitted to the degree program, a student must meet the following criteria:

Domestic Students:

Current School Leavers

Minimum ATAR of 65 (or equivalent assessment in New Zealand or the Overall Position (OP) in Queensland) or a Higher School Certificate or overseas equivalent.

Non-Current School Leavers

• Completion of a AQF level 4 or equivalent course; or

• Previous admission to or the subsequent completion of at least one trimester of an AQF level 7 or equivalent course.

International Students:

• Must be at least 18 years of age or older at course commencement.

• Year 12 or equivalent or other relevant qualification.

• An overall valid academic IELTS 6.0 not less than 6.0 each band (please refer to the DOHA website for Acceptable English Evidence and Exemptions); or an English proficiency of upper intermediate level or above from an approved ELICOS provider; or have successfully completed at least an Australian Certificate IV qualification within the last 2 years; or have successfully passed NAPS’s English Placement Test.

• In addition, students may participate in a course entry interview to determine their suitability for the course.

• International Students must meet the Student Visa (SC500) requirements.

Students with Disabilities

The same conditions and procedures apply to the admissions of students with a disability as to all other students, however NAPS fosters an environment of inclusiveness so special measures are provided to support their learning when required and discussed as part of the admission process.

Mature Age Applicants

• A student who does not meet the standard ‘school leavers’ criteria may apply for admission as a mature age applicant if they:

• are 21 years of age or older on 1st March of the year they intend to commence study; do not have the required ATAR for admission to the course;

• do not have a record of tertiary study; and have completed an approved preparation course of not less than 6 months duration; or

• have completed a vocational training course and have been assessed by the Dean or nominee to be able to undertake tertiary studies

Aboriginal and Torres Strait Islander students

NAPS is committed to equity of access and supports alternative entry admission schemes particularly for Aboriginal and Torres Strait Island students who are encouraged to apply. The Academic Board may approve such admissions to:

• encourage and assist indigenous students to enrol into studies; or

• provide access to the educationally or socially disadvantaged; or

• address the under-representation of designated groups.

Articulation Arrangements and RPL

Students who have completed a diploma or advanced diploma or equivalent course in another approved institution may transfer into this degree. The amount of credit transfer or recognition of prior learning will be assessed for each individual student.

English Language Requirements

The medium of instruction in the Academy is English. All students are therefore required to demonstrate a minimum level of proficiency in the English language to qualify for admission.

The following criteria apply:

• Students from Australian local institutions must have completed a Higher School Certificate or equivalent from overseas.

• Mature students from English speaking countries must pass an English language proficiency interview conducted by the Dean or nominee.

• For students from non-English speaking countries who apply onshore or directly from their home countries, the condition of admission is an IELTS (Academic) test with a minimum score of 6.0 with no sub-band score less than 6 or equivalent in TOFEL or other accredited English language test program provided by an accredited supplier of such tests.

• Students who do not meet the minimum English Language requirement may be permitted to enrol after successful completion of an appropriate English for Academic Purposes program accredited by NEAS and approved by the Academy.

When an IELTS score or equivalent is used to demonstrate English proficiency, that score must have been attained within two years of the date of application for admission.

Here is a the Course Progression for the NAPS BBus (Islamic Business) full-time:

• (P) indicates CPA and/or CA ANZ required unit.
• ** indicates a unit is essential for applying to be a Certified Islamic Public Accountant (CIPA)

Level 100 Units (‘P’ indicates professional requirements (CPA, CA ANZ) required unit)

Total Credit Points per unit: 10


*NOTE: 

To qualify for CPA and CA professional requirements, students taking Islamic Business must:

1. Study the following additional units  in place of year 3 electives:
• ACC202 Accounting Information Systems (P)
• ITS201 Intro to Information Systems (P)

2. Complete an extra semester by studying the following units*:
• MGT206 Business Research Methods (P)
• ACC301 Corporate Accounting and Reporting (P)
• FIN201 Financial Management (P)
• ACC304 Current Issues in Accounting

*Please note that student will be liable to pay the additional fee for the extra semester.

Electives:

 *Not all units may be offered each trimester

• Business Analyst
• Risk Manager
• Human Resources/Recruiter
• Corporate Accountant
• Business Research
• Budget Analyst
• Corporate Accountant
• Auditor
• Business Consultant
• Entrepreneur, Small Business, Social Entrepreneur
• Sustainability Analyst

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