The history of Vavuniya Campus as a seat of learning goes back to 1991 as it was formed by elevating the status of the NPAUC. The Students of the NPAUC were absorbed into the Vavuniya Campus of the University of Jaffna and the Faculty commenced its academic activities in 1997.
With the inauguration of the Vavuniya Campus, the students who completed the Diploma in Accounting and Finance were given an opportunity to follow another one-year curriculum for a Bachelor of Accounting and Finance (BAF) degree. The first and second batches of the diploma students of former NPAUC completed their BAF Degree in November 1997. The third and the last batch of the Diploma students sat for the Degree examination in December 1998. The first direct intake to the Campus took place in 1998 and the students from the Commerce and Arts streams were admitted to this Management course for the academic year 1997/1998. In the Academic year 1997/1998 the University Grants Commission (UGC) admitted 35 students for the three years Bachelor of Business Administration (BBA) degree with specialization to the FBS of the Vavuniya Campus.
The lectures commenced in October 1998. This programme was a three years course consisting of six semesters. After the completion of the first year, students have an opportunity for specialization either in Management Studies or in Accounting and Finance. Subsequently, the curriculum was revised in the academic year 2003/2004. This new curriculum incorporated computer based subjects, practical training components, field visits and auxiliary course units in addition to the subject areas. In this curriculum, there were three options given for specializations such as Accounting and Finance, Marketing Management and Business Economics. After that the Faculty revised its curriculum in the academic year 2007/2008 based on the suggestions made by the Subject Review teams of the Quality Assurance and Accreditation Council (QAAC) and amended the credit values as per the decision made by the UGC (Common credit frame work). The main purpose of present curriculum is to incorporate the up to date development and prepare the students for competing in the job markets in locally and globally.
Presently, the Faculty offers BBM honours degree programme, namely, Accounting and Finance, Marketing Management, Business Economics, Human Resource Management, Entrepreneurship, Project Management and Banking and Insurance. The present students‟ population of the faculty is 1000. The Faculty also conducts short courses and community outreach programs under the Industry Community Interaction Cell (ICIC). The faculty is in progress commencing the MBA program in the year 2024.