Program Type

90 ICH beyond BA


EUCLID School of Global Business and Economics

Study Mode

Online / Distance
Part Time or Full Time

Online PhD in Islamic  Finance and Economics

EUCLID’s online PhD in Islamic Finance and Economics program was developed at the convergence of EUCLID’s expertise in global governance, international civil service and interfaith studies. Historically, this PhD program was developed after EUCLID signed an agreement with the OIC-affiliated Islamic Chamber of Commerce and Industry (ICCI, now ICCIA) which called for the creation of an MBA in Islamic Finance as a Joint Initiative between EUCLID and ICCI. This PhD builds on EUCLID’s experience and offers a unique opportunity to achieve a terminal degree and the higher level of experience in both Islamic economics and finance.

It is the only online PhD program in this field organized by an international intergovernmental organization and officially used by active civil servants over 4 continents.

Academic Presentation

EUCLID’s Doctorate in Islamic Finance and Economics represents 90 US credits (120 ECTS) of coursework beyond the Bachelor’s. In practice, students may enter the DIFE with a relevant Master’s degree, complete 30 to 35 US credits of core doctoral courses, followed by the actual writing of the dissertation in 5 phases. The resulting thesis should be a publishable book offering a clear contribution to the field and establishing the author as a subject-matter expert.

Among the suggested areas of focus are:

  • Islamic Banking Sustainable development
  • Islamic Microfinance
  • Alternative Banking Models

EUCLID = Islamic Finance in Practice


Photo above: EUCLID’s Secretary General Syed Zahid Ali with the President of the Islamic Development Bank (2008). EUCLID became an IsDB Partner in 2014.


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Admissions / Entry Requirements for the MDIA

Applicants should have a relevant Master’s degree issued by an institution listed in the UNESCO-IAU handbook / database. Similar or related backgrounds with adequate professional experience may be considered

Government-sponsored applicants (who are already government staff) may be admitted without the required educational credential if their level of education and experience is deemed sufficient. EUCLID may require these participants to complete bridge courses prior to enrolling in the program.

Fluency in English (spoken and written) is required and will be tested.

Students are expected to be in position to dedicate 10 to 15 effective hours of study on a weekly basis.

Tuition and Fees

Employment Outlook

The EUCLID DIFE provides outstanding professional and academic preparation to its students for a successful career in Islamic finance at the international, regional, national and local levels. Outlook includes teaching positions, banking positions, and economic policy positions. There is also increasing demand for experts in Islamic finance and economics in non-Muslim countries and institutions, and one does not have to be a Muslim to study Islamic finance.

EUCLID alumni have been successful securing employment and promotions in government service and international organizations, including at the level of ambassador and minister.

Faculty Highlights

EUCLID’s DIFE program is supported by a world-class faculty group which is truly global in scope and dedicated to high-quality interaction with each student. For each program, 3 faculty members are featured below, and the full faculty roster is accessible via the top menu.

Pr Muhammed Al-Hashimi

Professor of Islamic Finance

Pr Charles Yassin Chan

Professor of Islamic Economics
(Hong Kong)

Pr Mwinyikione Mwinyihija

Professor of International Administration


Download Brochure

The full DIFE Brochure can be downloaded in PDF format.

Why study at EUCLID?

EUCLID is the only intergovernmental, treaty-based university with a UN registered charter and recognized expertise in Islamic finance. EUCLID is a partner of the Islamic Development Bank (IsDB) and Islamic Chamber of Commerce, Industry and Agriculture (ICCIA).

From the EUCLID News and Blog

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