It's nice to see many quick responses of many institutions. However, wherever you will go whether UUM, UKM in Malaysia or Burhan's current place in Istanbul you will find them that all have some way their background linked to IIUM especially IIiBF (IIUM Institute of Islamic Banking and Finance) as former students graduated from IIUM or were part of the faculty of IIUM.
It's better to refer to ICIFE (https://www.facebook.com/International-Council-of-Islamic-Finance-Educators-ICIFE-585202638292304/) this captures lot more institutions providing varieties you choose from.
Prof Khaliq, we just offering alternatives, not imposing anyone to study here,, and also just think of who made popular IIiBf, now ISZU also top 3 in the area of Islamic banking and finance. who bring reputation is up, not the university, it is depending on it's staff.
I think INCEIF would be better in a sense that it is only IF specialised university, this business school going to get AACSB accreditation soon and offering worthy scholarship as well.
In Pakistan Center for Excellence in Islamic Finance (CEIF) at the Institute of Management Sciences Peshawar is offering PhD in Islamic banking and Takaful. CEIF is collaboratively established by the Institute of Management Sciences, Peshawar, State Bank of Pakistan, and the UK’s Department for International Development (DFID) to spur financial inclusion in Pakistan. It has became the country’s largest Islamic finance education provider, offering PhD, MBA, and PGD in Islamic finance. Moreover, it is produced cutting-edge research and industry impact in collaboration with the world leading resource centers such as Durham Center for Islamic Finance, IRTI, Islamic Development Bank, Brunel University UK, and All Islamic Banks in the Country.
LUMS and IBA have also established CEIF but PhD is only offered at CEIF IMsciences.
I would recommend Durham University in Durham, UK. Reputation of the university and world rankings are also important when you choose a university (especially for PhD).