মাস্টার অফ অ্যাপ্লায়েড ফাইন্যান্স এন্ড ক্যাপিটাল মার্কেট (MAFCM)

Master of Applied Finance and Capital Market (MAFCM)
Bangladesh Institute of Capital Market
affiliated with University of Dhaka

The world of finance is evolving rapidly as changes are being made continuously in this sector. New instruments, rules, and technologies are being introduced to make the financial market more vibrant and efficient. The application of theories and practices of finance is required for working in a vast range of organizations including financial markets and institutions. To excel as a financial market professional, thorough knowledge and skills on new instruments and their regulations is imperative. Sound mathematical and technical knowledge will enhance understanding of the field of finance and its innumerable applications. The comprehensive concept of the existing legal framework and the economy is also crucial to succeed in a career in this field.

Nonetheless, in Bangladesh, the need for skilled professionals in the financial market in general and the capital market, in particular, has been on the rise. The MAFCM program of BICM, with its world-class curriculum, will sharpen a student’s required theoretical, quantitative, and technical skills by providing a blend of rigorous academic and practical application. Hence, the program is expected to bridge the long-felt gap between the skills required and those existing in this dynamic field of financial markets, especially the capital market.

New innovations in the applications of finance are making it crucial for stakeholders in the industry to keep pace with these developments. BICM is aiming to create the best-equipped financial managers in the country with this uniquely designed program. Those aspiring to excel in a career in finance, banking, merchant banking, asset and funds management, financial analysis, and financial regulation will experience assimilation of essential knowledge and skills in an increasingly challenging financial environment.

The objective of the MAFCM Program
BICM is offering the ‘Master of Applied Finance and Capital Market’ (MAFCM) to strengthen the Bangladesh capital market through elevating the knowledge of stakeholders. The capital market is dynamic and is evolving over time both locally and globally. One must be competent enough to excel in the field of capital market with the required set of management, mathematical and technical skills. The MAFCM program is designed to inculcate these skills in students so that they can cater to the needs of competent financial managers.

Duration and Credit Hours
The duration of the program is 2 years (4 semesters, each of 6 months). The program is of 51 credit hours.

আরও দেখুন:
◾ ব্যাংকিংয়ে ক্যারিয়ার গড়তে বিআইবিএমের এমবিএম কোর্স
◾ মাস্টার্স ইন ব্যাংক ম্যানেজমেন্ট (এমবিএম) কি?
◾ মাস্টার্স ইন ব্যাংক ম্যানেজমেন্ট (এমবিএম)-২০২১

Minimum Credit Requirements
The minimum credit requirement for obtaining the MAFCM degree is 51 (fifty-one). Of the total required credits, 48 credits are to be completed as course work and 3 credits are to be earned from project work.

Program Completion Period
The program can be completed in 2 years (4 semesters). However, a student may complete the program in a maximum duration of 6 (Six) years from the date of admission into the program, after which, admission of the student will be deemed to have expired.

Semesters
There shall be two semesters in a calendar year. The Spring semester (January – June) and Summer semester (July – December). The Academic Year is the same as the calendar year.

Student Intake per semester
A maximum of 60 students per semester will be admitted to the MAFCM program.

Number of Intake per year
There are two intakes per year, one in December for Spring Semester (January-June) and the other in June for Summer Semester (July-December).

Admission/ Eligibility Criteria
The minimum academic requirement for admission into the program is a 4-year Bachelor’s degree (or equivalent) from a recognized institution having CGPA of minimum 3.00 on a scale of 4.00 (2nd class/ division for those assessed under the class/ division system) or Master’s degree in case of Bachelor’s degree (or equivalent) with a duration of less than 4 years from a recognized institution, having CGPA of minimum 3.00 on a scale of 4.00 (2nd class/ division for those assessed under the class/ division system) at Master level. Preference will be given to those having experience in the fields of finance, capital market operations, capital market regulations, capital market policy formulation, capital market research, accounting, auditing, banking etc. Registered/ Enrolled students of any accounting and finance professional institute (such as CFA, ICAB, ICMAB, ACCA, CIMA, CPA, CGA, etc.) will also get preference.

For foreign degrees, equivalence certificate from the University Grants Commission of Bangladesh has to be provided. All applicants must appear in a written test, followed by a viva-voce for those who pass the written test. The final score for selection will be prepared considering the performance in the written test, viva-voce, previous academic records, and relevant experience. Selections will be made based on the combined score.

Members of any accounting and finance profession like CFA, ICAB, ICMAB, ACCA, CMA, CPA, CGA, etc. and those having GMAT score of at least 500 or GRE score of at least 300 will be eligible for direct admission.

Course Structure
The MAFCM program comprises of 16 courses, each of three credits. The course distribution will be as follows:

Course Distribution
Pre-requisite courses (Non-credit)
MAFCM 401: Introduction to Business
MAFCM 402: Mathematics for Business
MAFCM 403: Financial Accounting
MAFCM 404: Foundations of Finance
MAFCM 405: Economic History of Bangladesh
MAFCM 406: Business Communication

Foundation courses
MAFCM 501: Introduction to Statistics
MAFCM 502: Economics for Investment Decisions
MAFCM 503: Financial Statement Analysis
MAFCM 504: Financial Markets and Institutions

Core courses
MAFCM 601: Corporate Finance
MAFCM 602: Equity Valuation
MAFCM 603: Investment Banking and Capital Market Operations
MAFCM 604: Corporate Governance and Ethics
MAFCM 605: Fixed Income Securities
MAFCM 606: Capital Market Regulations
MAFCM 607: Compliance and Supervision in Capital Market
MAFCM 608: Portfolio Management and Investment Planning

Elective courses
Students are to take a total of five courses from the following list, including the mandatory Project Paper; the other four can be from Quantitative Finance, Financial Markets or a combination thereof:

Quantitative Finance
MAFCM 651: Risk Management in Capital Market
MAFCM 652: Financial Modeling
MAFCM 653: Data Analytics for Finance
MAFCM 654: Empirical Methods in Finance
MAFCM 655: Fintech

Financial Markets
MAFCM 675: Financial Derivatives
MAFCM 676: Alternative Investments
MAFCM 677: Mergers and Acquisitions
MAFCM 678: Trading and Technical Analysis
MAFCM 679: Behavioral Finance
MAFCM 680: Islamic Finance and Capital Market
MAFCM 681: Sustainable Finance
MAFCM 682: Innovations in Financial Markets
MAFCM 683: Contemporary Issues in Finance
MAFCM 684: Accounting for Financial Instruments

Project Paper
MAFCM 698: Project paper

Teaching Methods
Face-to-face learning method will be used for delivering lectures and conducting examinations. However, under extraordinary circumstances, alternative teaching strategies like blended learning and/ or flipped learning methodologies may be used temporarily. In addition, teachers will occasionally use cooperative learning strategies for developing teamwork, collaboration, communication, and social skills of the learners. Teaching methods will include class lectures, case analyses, group discussions and so on. Guest teachers from the industry, regulatory bodies, and different professional bodies will be invited to share real-life experiences in the relevant courses. There will be industry visits and exposure visits to different stakeholders of the capital market for the students to experience hands-on operations of different aspects of capital markets. Such visits will include but not be limited to visits to the local stock exchanges, brokerage houses, BSEC, CDBL, Credit Rating Companies, leading listed companies and their registered offices, etc. Medium of instruction shall be English.

Assessment Procedure
Students will be assessed on a continuous basis throughout the semester. There will be two mid-terms and one final examination in a semester. The mid-term examinations will be 15 marks each. The duration of these examinations will depend on the course teacher but should not be less than one hour. The final examination will be of 40 marks and the duration will be three hours. Class attendance and participation will carry 5 marks. The term paper(s)/case report(s) and presentations will carry 15 and 10 marks respectively.

The combined score obtained in (i) Class Attendance and Participation (ii) Mid-Term – 1 (iii) Mid-Term – 2 (iv) Term Paper/Case Report (v) Presentation and (vi) Semester Final will be converted to letter grades and will be reflected in the students grade sheet and transcript.

Grading Policy
The UGC prescribed grading policy will be followed. The grading will be done on a 4.00 scale with the highest grade being A+ (A Plus) and the lowest grade being F. The mark range, corresponding letter grades and grade points will be as follows:

Degree Requirements
A student will be considered eligible to be awarded the degree of MAFCM only upon fulfilling the following requirements:
a. Completion of 51 credits (48 credits from course work and 3 credits from the project paper/ dissertation).
b. Having earned a minimum Cumulative Grade Point Average (CGPA) of 2.50 on a scale of 4.00.

Fees and charges are subject to change and subject to revision from time to time subject to the prior approval of the Dhaka University/ appropriate authority.

Minimum number of course per semester
A student has to take at least two courses (6 credits) in a semester unless the student has only one course left for the completion of the degree in the last semester. A student taking a minimum course load will not be allowed to drop or withdraw from any course in a semester unless that course is replaced with another course.

Course Drop
A student may drop a course within 2 (two) weeks from the start of a semester, whereby no financial penalty will be levied and there will not be any record of the student in the concerned course in that semester nor in the student’s academic records. However, if a student wishes to drop after 2 (two) weeks of classes, s/he will get a 50% refund of the course fees. However, a student will not be allowed to drop a course after the 2nd week of the semester calendar.

Course Withdrawal
A student may withdraw from a course at any point in the semester after the 4th week of classes, giving acceptable reasons. However, in the case of such course withdrawal(s), no refund of course fees will be made and the letter grade ‘W’ will be recorded in the student’s grade-sheet.

Course Retake
A student earning a grade B (Plain) or below in a course may apply for retaking a course in the next available semester that course is offered.
A student having an ‘F’ grade in any course must retake that course and earn a passing grade.
For elective courses, a student may retake the same course or a different course from the list of elective courses.

Incomplete Course
If a student, for any reason, fails to appear in the final examination of a course, the concerned teacher shall assign a grade ‘I’ to that student for that course and publish the result. The concerned student must appear in a make-up final examination within 30 days from the publication of results by applying to the Registrar’s Office of BICM. Failure to do so will result in the student being assigned an ‘F’ grade in the course.

Semester Drop
A student may, with the permission of the program coordinator, drop a semester if the reasons are convincing to the BICM authority. However, the degree requirements are to be completed within 6 (six) years from the date of admission into the program.

Waiver
A student being a full-member of any recognized professional finance and accounting institution or having a previous graduate degree in the areas of finance, accounting, business, and economics shall be entitled to a waiver of a maximum of 4 (four) courses from the pre-requisite courses. Considering the background of the individual student, waiver on the courses will be determined by the MAFCM Coordination Committee. The waiver decision of the program committee will be final and cannot be contested.

Adoption of Unfair Means
Students adopting unfair means in the examinations will be subject to disciplinary action as per BICM rule and may be expelled, depending on the gravity of the situation and/or the incident(s).

Apply Procedure
✓ For more details about MAFCM Click here
✓ To view the Notice of MAFCM First Batch Summer 2021 Click here
✓ To apply MAFCM First Batch Summer 2021 Click here

For more details
BGIC Tower (Ground- 3rd Floor and 8th-9th Floor)
34, Topkhana Road, Dhaka-1000, Bangladesh
Telephone: +88-02-9588506, 9588507
Toll free: 08-000-99-99-99
Queries: 01572-112496 01537-055009
E-mail: [email protected]
Website: www.bicm.ac.bd

আরও দেখুন:
◾ অ্যাডভান্সড সার্টিফিকেট ইন বিজনেস অ্যাডমিনিস্ট্রেশন (এসিবিএ)
◾ সার্টিফিকেট কোর্স অন ইসলামিক ব্যাংকিং অ্যান্ড ফাইন্যান্স
◾ মাস্টার অফ অ্যাপ্লায়েড ফাইন্যান্স এন্ড ক্যাপিটাল মার্কেট- ১ম ব্যাচ ২০২১