MSc International Banking and Finance

Welcome to the MSc International Banking and Finance!

The Association for Research on Banking and the Economy (ARBE) is delighted to offer a new 1-year MSc degree in International Banking and Finance, designed and led by the legenary expert in monetary economics and finance, Prof. Dr. Richard Werner, the inventor of Quantitative Easing ("QE").

In collaboration with our European partners, the Higher School of Insurance and Finance (a top 3 university in Sofia, Bulgaria), you will be able to obtain a cutting-edge knowledge in the field of money, banking and credit and develop intricate knowledge about the feedback loop between the financial services sector and the real economy.

The provisional programme for the MSc degree for the upcoming academic year 2024 / 2025 is as follows:

Semester 1



Delivery Dates*


International Banking 1

Prof. Richard Werner

2nd and 3rd Nov ’24; & 30th Nov and 1st Dec ’24.

Mid-term Essay and Exam

Introduction to Banking Regulation

Dr Plamen Ivanov

9th and 10th Nov ’24; & 7th and 8th Dec ’24.

Mid-term Essay and Exam

Research Methods

Dr Achraf Mkhaiber

16th and 17th Nov ’24; & 14th and 15th Dec ’24.

Abstract, Report & Presentation

Optional Module


23rd and 24th Nov ’24; & 21st and 22nd Dec ’24.

Depending on choice

Semester 2



Delivery Dates*


International Banking 2

Prof. Richard Werner

1st and 2nd Mar ’25; & 29th and 30th Mar ’25.

Mid-term Essay and Exam

The World Financial System

Dr Plamen Ivanov

8th and 9th Mar ’25; & 5th and 6th Apr ’25.

Report & Presentation

Quantitative Research Methods

Dr Achraf Mkhaiber

15th and 16th Mar ’25; & 12th and 13th ’25.

Report & Presentation

Financial Risk Management

Dr Tony Abdoush

22nd and 23rd Mar ’25;  & 19th and 20th Apr ’25.

Final Exam

 *Provisional dates for Semester 1 and Semester 2.

Semester 3

15,000-word Master’s Dissertation with an allocated supervisory team.

Module Descriptions

By following the links in the table above for each module, you can obtain a better understanding what material, skills and knowledge you will obtain as part of your training by Prof. Werner and his faculty team.

Enrolling Requirements

For students with a Bachelors degree in economics or a related field, they will need to complete the following application form on the University's website:

For students with a Bachelors degree in another field: due to Bulgarian legislation, you will be required to complete one or two preparatory semesters before enrolling to the MSc International Banking degree. This leg of the educational offering can be completed off-site and entirely online as all of the learning and teaching material will be made available to them through Moodle, an online learning environment available to all HSIF students. Once completed, the students will be allowed to on-board and start the MSc International Banking and Finance programme with Prof. Werner and his team. To apply, please follow and complete your application here:

Semester Fees for the MSc degree

The semester fee is just €3,425, or a grand total of €6,850 for the duration of the MSc degree. There is also an option to pay semester fees in four equal instalments (circa €800 per calendar month), which can ease the financial burden on your finances.

In addition, MSc students are allowed to be in employment whilst completing their studies (which are also delivered on weekends only). This allows for a great flexibilty as well as for students to balance effectively the trinity of work-study-life.

Preparatory Semester Fee: In case a student needs to complete a preparatory semester, this will incur a one-off surcharge of €750.  

We understand that reallocating abroad in these uncertain times can be a daunting prospect, so you can find additional information below about your reallocation to Bulgaria.

1. Getting a VISA for Bulgaria.

2. Cost of Living.

3. Setting up your life in Bulgaria during your Master's studies.

4. Student Accommodation Options.

5. Orientation programme.

If you are interested in applying for a MSc degree, please do not hesitate to contact us through email: or