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Master of Applied Finance (Financial Services)
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  • Master of Applied Finance (Financial Services)

Master of Applied Finance (Financial Services)

Degree Summary
Program Outcomes
Program Structure
Faculty
Accreditation
Admission Requirements
Duration

18 - 24 months
12 subjects

Classes commence
  September (Autumn)
  January (Winter)
  April (Spring)
Fees*

AED 9,415.35 / USD 2,565 per subject
*VAT 5% inclusive

The Master of Applied Finance (Financial Services) offers a comprehensive and advanced program designed to equip students with in-depth knowledge of financial institutions, bank management, and lending. Through work-integrated learning and ongoing collaboration with industry, and collaborative peer learning, participants will gain a conceptually sound and practical understanding of the global financial system.  Additionally, competing approaches to corporate governance and business ethics will be developed, besides how to provide protection against portfolio, financial and corporate risks. 

With a focus on the legal framework governing financial institutions and the intricacies of a bank's lending process, bank management theory and the securities associated with it, graduates emerge well-prepared to navigate the dynamic landscape of financial services with confidence. The program will also include an emphasis on developing conceptual and practical knowledge relevant to a disruptive financial services sector including key areas such as fin-tech, sustainable financial management and data-driven decision-making. 

This specialised concentration opens diverse career avenues in banking, asset management, and other financial sectors, including Credit Analyst, Business Analyst, Foreign Exchange Trader, Loan Officer, Bank Liability Manager, Financial Manager, Asset Manager, Financial Risk Manager, among others, making the graduates highly sought after by employers.

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Program Selection Guide
UOWD's Master of Applied Finance
View Program Structure
  • Academic Requirements
  • Application Procedures
Entry Requirements

Students applying for a master's degree must have completed a bachelor's degree (or equivalent) at an accredited institution of higher education and have achieved the minimum grades outlined below: 

 

Country Direct Admission Probationary Entry*
GPA 2.5-2.99 or equivalent
Conditional Entry**
GPA 2.0-2.49 or equivalent
Australia 65% 57% 50%
Brazil 7/10 6/10 5/10
China 75% 63% 50%
Colombia 3.5/5 3.25/5 3/5
Egypt 65% (Good) 57% 50% (Pass)
India 50% 45% 40%
10 Point System: 7.0/10.0 10 Point System: 6.0/10.0 10 Point System: 5.0/10.0
4 Point System: 3.0/4.0 4 Point System: 2.5/4.0 4 Point System: 2.0/4.0
Iran 14 13 12
Japan 70/100 or 4/5 65/100 or 3.5/5 60/100 or 3/5
Jordan 70% 60% 50%
Kenya 50% 45% 40%
Lebanon 11 10.5 10
Mexico 8/10 7/10 6/10
Nepal 50% 45% 40%
Nigeria 50% 45% 40%
Pakistan 50% 45% 40%
Russia Average of 4 Average of 3.5 Average of 3
South Korea 80/100 75/100 70/100
UAE 3 2.5 2
UK 2nd Class Honours with lower division (or min 50%) 45% Pass (or min 40%)
USA 3 2.5 2

 

* Applicants with a bachelor’s degree in the relevant field of study, or its equivalent, with an overall GPA between 2.5 and 2.99 (on a 4.0 scale) may be conditionally admitted to a master’s program, only if they meet the necessary english language requirement. Such students must take a maximum of 18cp of subjects studied for the master’s degree during the period of conditional admission and must achieve an overall WAM of 55 in their first 3 subjects at the University. Students who fail to achieve this standard may have their enrolment discontinued.

** Applicants with a bachelor’s degree in the relevant field of study, or its equivalent, with an overall GPA between 2.0 and 2.49 (on a 4.0 scale) may be conditionally admitted to a master’s degree, only if they meet the necessary english language requirement and they will be required to complete a maximum of 18cp remedial non-credit bearing subjects prior to enrolment in their chosen Master’s degree. Students must achieve a minimum WAM of 55 in these subjects in order to progress to the master’s degree or may have their enrolment discontinued.

Note:

[1] Unless otherwise stated, the entry requirements above are based on Section I institutions. Further details on alternate entry requirements can be obtained by contacting the Admissions department.
[2] The Master of Applied Finance is an advanced degree for students who have a recognised bachelor’s degree in Business, Engineering, Maths or IT related specialisation.

English Language Requirements

At UOWD, all classes are taught in English and in order to enrol in a master's degree you will need to submit one of the following certificate of English language proficiency:

 

English Language Test Entry Score
IELTS
Academic
Overall score of 6.0 with 6.0 in Reading and Writing and 5.0 in Listening and Speaking
TOEFL
Internet based
79 with not less than 20 in Writing, 18 in Reading, 17 in Listening, 16 in Speaking
TOEFL
Computer based
213 with a 4.0 TWE/Essay Writing
TOEFL*
International paper based
550 with a 4.0 TWE/Essay Writing
EmSAT
Achieve English
1400

Note: Students who have achieved an overall Academic IELTS score of 6, but with a minimum of 5 in reading and writing for their relevant program, may opt to take Academic Writing as an additional subject during their first semester at an additional fee of AED 1,050/USD 286. A 50% pass rate is required to clear the post enrolment condition. Alternatively, the student may opt to retake the IELTS test.

* Students admitted under this criterion must complete the test at AMIDEAST.

Credit for Prior Learning

If you are seeking credit for prior learning, you will need to submit an official academic transcripts showing all courses studied and the grades obtained, syllabus details (including information on course content) for the courses you have successfully completed and an explanation of the grading system. Your eligibility for Credit for Prior Learning will be decided in consultation with UOWD's Faculty Offices prior to the beginning of the program.

To make an application for your chosen program, complete the online application form and submit it along with all your supporting documentation (see below) prior to the application deadline.

Late applications may be accepted subject to the availability of places but applicants are encouraged to apply as early as possible.

Supporting Documentation

The following records are required to process your application. Please ensure that all these documents accompany your UOWD application for admission form submittal:

  • The original transcripts of your bachelor’s degree results
  • A Certificate of Completion

(If the above documents are not in English, a certified English translation is required)

  • Proof of your english language proficiency

(Note: Results from IELTS & TOEFL tests must be sent to the University directly from the IELTS or TOEFL testing centres quoting the UOWD institution code IELTS: AE109 / TOEFL: 7907)

  • Your current resume or CV
  • A copy of your UAE ID card (if applying from within the UAE)
  • A copy of your passport (and Residence Visa, if resident in the UAE).

Additionally, if you are seeking advance standing in your chosen program:

  • Certified copies of official academic transcripts showing all courses studied and grades obtained, syllabus details (including information on course content) of the courses you successfully completed and an explanation of the grading system.
Attestation of Documents

Applications are required to obtain attestation / equivalency of their bachelor’s degree from the UAE Ministry of Education. The attestation / equivalency process is dependent upon whether you completed your bachelor’s degree within the UAE or outside the UAE.

If the bachelor’s degree was completed outside UAE, you must have your bachelor’s degree and transcripts/mark sheets certified by:

  1. The issuing University and/or recognised authority for tertiary education in the host country in which you completed your education
  2. The Ministry of Foreign Affairs in the host country
  3. The UAE Embassy in that host country OR the Embassy of the host country in UAE must attest the authenticity of the documents and attestations.

Additionally, the UAE Ministry of Education must issue an Equivalency Certificate. Applicants must have a valid UAE residency visa when applying for an Equivalency Certificate. In special cases where complying with conditions (2) and (3) are not feasible, the certificates may be verified against originals by Embassies in the UAE and the UAE Ministry of Foreign Affairs.

If you are unable to secure the Equivalency Certificate(s) as outlined above will be asked to sign a “Consent to Provide Documents” form agreeing to secure the equivalency. You will be permitted to commence your studies at UOWD, but will be given a maximum of one semester to obtain the equivalency certificate(s). UOWD reserves the right to take appropriate action against any applicant who cannot secure the appropriate documentation in this time, which may result in the termination of the student’s enrolment at UOWD.

For more information or assistance on attesting documents from outside UAE, click here.

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Program Structure

The Master of Applied Finance – Financial Services requires the successful completion of 72 credit points of subjects. To complete this program, it will normally take you five or six trimesters (based on 3 trimesters per year where you take 2 subjects). The capstone subject, BUS 922 Business Research Capstone should be completed within the final session of study.

  • Applied Finance Subjects

Program Core Subjects

This subject introduces students to the role played by statistical analysis using both financial and non-financial data for decision-making in organisations. Students will develop the skills to review and interpret the results of data analysis in various forms.

This subject examines the framework for financial statement analysis with discussion of the role of accounting information and intermediaries. Emphasis is on the appraisal and prediction of corporate financial performance from publicly available information such as accounting numbers, industry and economic statistics as well as other stock market data. Cases and problems are gradually introduced, provoking an analytical and creative thinking process ending with the evaluation and preparation of appropriate business strategies.

This subject examines advanced aspects of corporate finance within the contemporary business environment. The subject first analyses the impact of capital markets, information asymmetries and principal-agent conflicts on practical decision-making in the firm. It then investigates several specialised areas receiving increased scrutiny from corporate stakeholders including financial distress and restructuring, corporate governance, managerial compensation, organisational architecture and risk management, debt and equity strategies, mergers and acquisitions and emerging market corporate finance.

This subject focuses on the emerging demand by investors and wider community for socially responsible investing. This subject will cover ethics in investing, good corporate governance, social impact and green bonds, environmental finance, the importance of finance and economics in relation to the UN Sustainable Development Goals, socially responsible investing, CFA ethics for financial advisors, and other developing areas of importance.

This subject reviews the global financial system and investigates the functioning of Australian financial institutions and markets. Particular content may include coverage of the evolution of the global monetary system and organisations; the international financial markets including Euromarket; the framework of Australian financial system; the role of regulation sectors; the operations of money market, capital market and derivative market; the banking industry and payment system; and the implication of monetary and fiscal policies on financial markets.

The focus in this subject will be on providing protection against portfolio, financial and corporate risks that are common to any number of basic and advanced investment decisions. Topics covered include risk insurance; the function of a risk management program to satisfy shareholders, employees, regulators, and other important stakeholders; the continuing evolution of best-practice risk policies and methodologies and associated risk infrastructures; implementation and the efficient communication of an organisation-wide Enterprise Risk Management (ERM) approach that encompasses market, credit, liquidity, operational, legal and regulatory, business, strategic and reputation risks.

Specialisation Core Subjects

This subject introduces students to modern portfolio theory and practice with focus on optimal investment decision-making, portfolio construction, portfolio management and investment performance evaluation. In particular, this subject tracks on-going development of portfolio theory to provide students with a set of portfolio analytical tools. Students will be trained to analyse current financial markets by applying those analytical skills.

The global impact of banking is the focus of this subject. The subject incorporates comprehensive discussion of issues that commonly arise in the international banking environment, including development of the international monetary system, the deregulation of banking, methods of payment in international trade, foreign exchange markets, international lending and developments of new technology.

This subject examines a bank's lending process and the securities associated with it. The subject includes comprehensive discussion of issues concerning lending within the banking environment, such as regulation of security offerings, principles of good lending, documents involved in lending, lending and the consumer credit code, new developments in lending and securities, and their impact on the banking sector.

Elective Subjects

Students are required to choose an additional TWO Subjects from the list below:

This subject introduces students to modern portfolio theory and practice with a focus on risk and return trade-off, financial asset valuation, optimal investment decision-making, portfolio construction, portfolio management and investment performance evaluation. In particular, this subject tracks on-going development of portfolio theory to provide students with a set of portfolio analytical tools. Students will be trained to analyse current financial markets by applying those analytical skills.

Alternative investments have grown into a considerable global industry in recent years. This subject is designed to provide students with an understanding of alternative investment vehicles, tools of their analysis and applications. Students will learn of the non-traditional sources of finance and financial markets, and how these relate to finance theory. Unique characteristics of alternative financial markets and how these intricacies affect market efficiency and trading strategies are covered in this subject.

This subject examines international finance and investment from the perspective of the multinational corporation. Topics studied include various aspects of the international monetary system, the Euromarkets, foreign exchange markets, internal and external exposure management techniques, currency futures and options, swaps, financing multinational corporation investment, multinational corporation investment decision making, political risk analysis and international taxation.

Capstone Project

In this capstone subject, students will plan and undertake a strategic research project, applying appropriate research methods to design, collect, and analyse data on an approved business topic. They will draw on specialised knowledge from relevant discipline(s) to critically assess findings and develop innovative, evidence-based solutions to complex challenges. Throughout the subject, students will present their ideas and recommendations clearly to both specialist and general audiences through oral and written communication, while ensuring their decisions reflect principles of social responsibility.

 

Program Outcomes

  • Prestigious and Accredited Degree:

    Upon completion of the program, all students will get a Master’s degree from University of Wollongong Australia, a university in the top 1% of the world universities, accord to QS World University rankings. This degree is fully accredited in the UAE by Commission for Academic Accreditation (CAA) and Knowledge and Human Development Authority (KHDA). 

  • Skills You'll Learn to Support Your Career Goals: 

    The completion of the program will provide students with practical, hands-on, and job-ready skills essential for success in the financial services industry. Some of the key skills acquired through this program include financial analysis where Graduates gain expertise in analyzing financial statements, assessing financial performance, and making informed decisions based on financial data. They also learn to identify, assess, and manage financial risks using various techniques and tools to ensure stability and compliance with regulations. Understanding the intricacies of banking operations, including lending, credit evaluation, and regulatory compliance, is a common component of this program.

    Also learn Insurance and Wealth management skills besides data analytics. Given the heavily regulated nature of the financial services industry, students will learn about various financial regulations and compliance protocols. Our program emphasize ethical considerations and the importance of maintaining high professional standards in financial services careers with technology integration.

    These skills collectively prepare graduates for a variety of roles within the financial services industry, including positions in banking, investment banking, insurance, financial planning, and more.

  • Doctoral Study Opportunities:

    Should students wish to pursue further research after completing this Master’s degree, UOW Dubai offers a PhD program under the Faculty of Business.

  • Global Career Opportunities:  

    Chief Financial Officer, Chief Executive Officer, Finance Business Partner, Financial Service and Insurance Managers, Equity Trader, Compliance Officer, Corporate Investment Banker, Corporate Treasurer, Financial Advisor/Consultant, Financial Risk Analyst, Financial Trader, Credit Analyst, Business Analyst, Foreign Exchange Trader, Loan Officer, Bank Liability Manager, Financial Manager, Asset Manager, Financial Risk Manager, Financial Service Representatives

  • With the global nature of this degree, you will be equipped to work in any industry in private, semi private or government sector in any region of the world.

Accreditation and Recognition

All degrees at the University of Wollongong in Dubai are accredited by the Commission for Academic Accreditation (CAA) of the UAE Ministry of Education and are licensed by the Knowledge and Human Development Authority (KHDA). In addition, the degree is quality assured by UOW, which is registered with the Tertiary Education Quality and Standards Agency (TEQSA), the national regulator of the higher education sector in Australia.

Also, all business degrees of the University of Wollongong are accredited by The Association to Advance Collegiate Schools of Business (AACSB).

Students will be issued a UOW Australia degree upon graduation.

Professional Accreditation

Association to Advance Collegiate Schools of Business (AACSB)

AACSB

The Association to Advance Collegiate Schools of Business (AACSB) provides an international seal of approval for business programs that ensures the educational needs of students are met through high quality, continuous improvement and excellence in education. This globally recognised accreditation has been awarded to only the top five percent of the world’s business schools.

Dr Haroon Khan

Associate Professor
Discipline Leader (Finance & Accounting)

Dr Haroon Khan is an associate Professor and the Finance Program Director in the University of Wollongong in Dubai.

He received his PhD in 2011 from IAE, Graduate School of Management, Aix-en-Provence, & ESSEC, Paris, France, with specialisation in Strategic and Entrepreneurial Finance.

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Faculty

Dr Burcu Kapar

Associate Professor

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Dr Kashif Saleem

Associate Professor

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Dr Faisal Rana

Associate Professor

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Dr Noor Ulain Rizvi

Assistant Professor

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Dr Osama Al-Hares

Associate Professor
Director (Postgraduate Programs)

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Dr Vikash Ramiah

Associate Professor
Head of Postgraduate Studies (HPS)

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