The Faculty of Business Studies commenced its programmes of study offering a three-year degree under the Department of Accountancy & Finance (ACF) and the Department of Business Management in September 1996. As a founding department of the faculty, Department offered a Bachelor of Science degree with a Foundation year and two specialization years. Six batches of graduate students obtained their BSc Special Degree in Financial Management and passed out in 1997, 1998, 1999, 2000, 2001 and 2002. The Faculty of Business Studies was renamed the Faculty of Management Studies with the approval of the University Grants Commission (UGC) in 2003. As a result, the duration of the Degree Programmes conducted by the Department was also changed to four years with the approval of the UGC in 2003. Remarkably, Department introduced a new degree program titled Bachelor of Science Special Degree in Banking and Insurance in 2010.