During the 2004/2005 academic year, the School of Business was established with two departments: Department of Management Studies and Department of Accounting and Finance.  In line with with the Strategic Plan of Department of Accounting and Finance,  a four-member committee was constituted  and tasked to create two departments out of the existing Department of Accounting and Finance.  The proposal was given approval by the Academic Board at its Third Regular Meeting held on 17th March, 2016. The Department of Finance, therefore, became operational from 1st August, 2016, that is, 2016/2017 academic year. The Department runs both postgraduate and undergraduate programmes.