The College of Business and Economics at Umm Al-Qura University was established following stages of academic and organizational development experienced by two main colleges: the College of Islamic Economics and Financial Sciences and the College of Business Administration. This integration aimed to create a distinguished academic entity that reflects a comprehensive vision, combining administrative and economic specializations, and striving for academic and research excellence.

College of Islamic Economics and Financial Sciences

1.Recommendation to establish the Department of Islamic Economics:

•The idea of establishing the Department of Islamic Economics originated from the recommendations of the First International Conference on Islamic Economics held at King Abdulaziz University in Jeddah in 1396H, where the establishment of a specialized department for Islamic economics was proposed.

2.Phase One - Establishing the Division of Islamic Economics:

•In 1398H (1977), the Division of Islamic Economics was established within the College of Sharia and Islamic Studies. The division focused on providing initial academic programs in Islamic economics.

3.Phase Two - Establishing the Department of Islamic Economics:

•In 1401H (1981), a decision was made to establish the Department of Islamic Economics within the College of Sharia. The department saw significant development, offering advanced academic programs and research in Islamic economics.

4.Phase Three - Establishing the College of Islamic Economics and Financial Sciences:

•In 1433H, the College of Islamic Economics and Financial Sciences was established, comprising specialized departments in economics, finance, banking, financial markets, and insurance. The college expanded academic education to include advanced economic fields aligned with market needs.

Establishment of the Department of Accounting

•The Department of Accounting was established in 1405H as a subdivision of the Department of Islamic Economics, aimed at preparing qualified graduates in accounting with an Islamic perspective. With the increasing number of students, the department grew significantly.

•In 1421H, the Department of Accounting became an independent department under the College of Islamic Economics and Financial Sciences. After the establishment of the College of Business Administration in 1429H, the Department of Accounting was transferred to the new college as part of its academic structure.

College of Business Administration

1.Establishment:

•The College of Business Administration was established in 1429H based on a resolution from the Council of Ministers. The college initially included the departments of Business Administration, Tourism and Hospitality, Accounting, Marketing, and Hajj and Umrah Business Management. The college focused on offering academic programs that support innovation and entrepreneurship.

Integration Phase

1.Establishing the College of Business and Economics:

•In 1445H, the College of Islamic Economics and Financial Sciences and the College of Business Administration were merged to establish the College of Business and Economics. The new college includes five main departments: Business Administration, Economics, Accounting, Finance and Banking, and Tourism and Hospitality.

•This integration aims to enhance the complementarity of academic specializations, achieve academic and research excellence, and focus on developing education to support national development.

Vision

To achieve leadership and excellence in the fields of economics, management, finance, and tourism and hospitality, meeting labor market needs and contributing to sustainable development locally and internationally.

Mission

To provide advanced academic programs and distinguished scientific research to prepare national competencies with the skills and knowledge necessary to contribute to achieving Vision 2030, while promoting ethical values derived from Islamic principles.

Academic Departments Post-Integration

The College of Business and Economics includes the following departments:

1.Department of Economics

2.Department of Accounting

3.Department of Business Administration

4.Department of Tourism and Hospitality

5.Department of Finance, Banking, and Insurance

Goals

The College of Business and Economics aims to achieve the following goals:

1.Preparing graduates who are scientifically and professionally qualified to meet labor market needs in the fields of economics, business administration, finance, tourism and hospitality, and accounting.

2.Developing scientific research in administrative, economic, and financial fields to support innovation and enhance sustainable development.

3.Strengthening partnerships with the public and private sectors to support academic and research activities and provide training opportunities for students.

4.Instilling Islamic ethical values in education and scientific research, focusing on Islamic economic thought as part of the academic identity.

5.Providing an integrated educational environment that keeps pace with modern technologies in education and develops human resources.

6.Contributing to achieving Vision 2030 through educational and research programs that support the national economy and social development.