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Master of Science in Finance

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Key Fact
  • Program name
    Master of Science in Finance
  • Program code
  • Program director
    Dr. Mohamed Mahees
  • Program length
    2 Years
  • Credit hours

 About the Program


The Master of Science in Finance is designed in order to equip students with a solid understanding of financial theory and research methodology and to prepare graduates for successful careers in analysis and consultancy in the private and the public sectors. Additionally, the program provides an excellent preparation for students planning to pursue Doctoral studies by enhancing their research and analytical skills.

In alignment with Effat University's mission, the introduction of the MSF program aims at providing students with a world-class education in the field of finance. The program was designed in order to graduate future leaders and managers who would contribute effectively to the growth of this sector through practice and research.

The Master of Science in Finance (MSF) program at Effat University focuses on the managerial aspects of General and Islamic finance. Students are encouraged to apply technical and analytical skills to a variety of problems related to General and Islamic finance and to propose relevant solutions. By offering this program in Saudi Arabia, we hope to meet the growing demand for highly qualified financial experts both the General and Islamic finance fields. In recognition of the growth of Islamic finance in GCC countries, particularly Saudi Arabia, the Islamic finance concentration is available. While the core courses are similar across both tracks, these courses entail the components for financial issues pertaining to both General and Islamic finance domain. Besides the core course, students must choose elective courses in Islamic finance to complete the concentration requirement. The Islamic finance concentration is unique to the region and offered only by Effat University in Saudi Arabia. On the other hand, students interested in the General finance track will gain relevant financial, managerial, and leadership skills, preparing them for managerial and strategic roles in their respective concentration.    ​

The Master of Science in Finance (MSc) program successfully acquired AACSB accreditation in Fall 2021 for a ​period of five years.

 Vision, Mission, and Goals

Program Vision

The MSF program develops quantitative and analytical skills and transfer to all business disciplines, industries and research.​

Program Mission

The Program offers the latest data-driven advanced knowledge in the field of finance under the fast growing and innovative financial and business world. ​​

Program Goals

  1. Ensure that the MSF program is at the forefront of research education and community engagement.
  2. Maintain the program Accreditation at the national and international levels and ensure participative decision-making.
  3. Deliver quality teaching and learning based on international and local university rankings.
  4. Prepare students for the complexity of financial markets by providing them with research skills.
  5. Retain faculty who have diverse backgrounds, qualifications, and industry connections, which are compatible with program needs.
  6. Enhance the learning environment by optimizing the use of all available facilities and enhancing the learning resources to meet changing program needs.
  7. Encourage faculty and students to conduct research that not only increases the finance literature, but also contributes to the development of the national economy and finance.
  8. Develop strong partnerships and collaborations with the financial institutions and community to maintain a culture of service.​

 Educational Objectives

The major objectives of the program of Master of Science in Finance program are to:

  • Equip students with a solid understanding of financial theory and practice.
  • Prepare students for the complex​ity of financial markets by providing them with analytical and research skills.
  • Prepare students to identify and manage financial risks with appropriate financial derivative instruments.
  • Encourage students to conduct research that not only increases the finance literature, but also contributes to the development of the national economy and finance.​​


Students can choose to graduate with a general master of science in finance or follow one of the two concentrations offered in the program:​

  1. ​Master of Science in ​Finance - General Finance track.

  2. Master of Science in Finance with concentration in Islamic Financ​e. 

 Career Opportunities

The Master of Science in Finance will produce outstanding graduates who will be able to efficiently work as:

  • Middle and top managers in banks with conventional banking
  • Middle and top managers in banks with Islamic banking
  • Financial Manager multinational companies
  • Financial Analyst
  • Portfolio Manager
  • Risk Management Specialist
  • Corporate Strategist
  • Investment Banker
  • Real Estate Financier
  • Financial Planner
  • Risk Consultant​

 Learning Outcomes

On successful completion of MSF program, students will be able to:

 Knowledge and Understanding:
  • K1 – Demonstrate in-depth knowledge and understanding covering theories, principles, concepts and contemporary issues in the field of finance.
  • K2 – Reflect on advanced knowledge and understanding of recent developments, research and/or inquiry techniques in the field of finance.


  • S1 – Apply quantitative and analytical skills needed for effective financial management and decision making. 
  • S2 – Critically evaluate key concepts, principles, and theories related to various financial management issues and provide creative solutions.
  • S3 – Conduct advanced research or professional projects using specialized research, enquiry methodologies, data, and software in problem solving and effective decision making.


  • ​V1 – Demonstrate personal, professional, and ethical values when dealing with various issues related to finance.
  • V2 – Demonstrate high communication skills to interact, cooperate, and lead in a global context.  ​

 Graduation Requirements

To be able to graduate, students should graduate with a CUMGPA ≥ 3.0/4.0, and the following: 

Total Program Credits = 42

  • Technical core courses = 27 credits. ​
  • Technical elective​: 9 credits.
  • Thesis = 6 credits.

 Fact Sheet

Student Enrollment for Master of Science in Finance​ ​

Number of International Students for Master of Science in Finance​ ​


Bachelor GPA
2.75/4  or 3.75/5
Major GPA
2.75/4  or 3.75/5
Very Good
Effat Placement Tests
TOEFL / Linguaskill / IELTS
546 / 169 / 6.0
Definitions & Conversion Charts
Additional Department Requirement
Recommendation Letter
Personal Statement
Contact Information
Program Chair
Tel.+966 122137832
Tel.+966 122137834 

Effat Alumnae