Extended Diploma in Islamic Finance Level 6

Duration : 12 MonthsFees : £ 1,200

Module I : Islamic Economics & Finance

This module provides an introduction to the concepts of Islamic economics and Divine Guidance in Islam for the development of an interest-free economy based on the principles of socio-economic justice. The module also explains the objective (the Maqasid) of Shariah that provides a moral framework for conducting business and personal dealings with justice and fairness

  • Lesson 1. Introduction to Islamic Economics
  • Lesson 2. Divine Guidance for a Moral Economy
  • Lesson 3. Evolution of Islamic Interest-free Banking
  • Lesson 4. Realisation of Maqasid Al-Shariah (Objectives of Islamic Law)

Module II : Islamic Commercial Law & Contract

This module explains the Islamic principles and the modes used in financing and contracts, such as Qard, Dayn, Musharaka, Mudaraba, Ijarah, Wakala, Kafalah, Hawaala, Jua’lah and Tawarruq.

  • Lesson 1. Early Contracts, Rules of Sales(Bai) and Evolution of Islamic Commercial Law
  • Lesson 2. Concept and Rules of Loan (Qard) and Debt (Dayn)
  • Lesson 3. Concept of Partnerships: (Shirkah) Musharaka, and Mudaraba
  • Lesson 4. Diminishing Musharaka
  • Lesson 5. Credit Sales: Murabaha and Musawamah, Commodity Murabaha (Tawarruq)
  • Lesson 6. Forward Sales: Salam and Istisna’a
  • Lesson 7. Leasing: Ijarah as Financing Modes
  • Lesson 8. Supporting Shariah Contracts and Hibah (Wakala, Jua´lah, Tawarruq, Kafalah, Rahn, Hawaala, Istijrar, Amanah, Wadiah, Hibah)

Module III : Islamic Banking Operations

This module provides an introduction to the conventional banking system and goes on to deal with the key operations of Islamic banks and co-operation between conventional and Islamic banks.

  • Lesson 1. Outline of the Conventional Banking System
  • Lesson 2. Deposit and Resource Mobilisation by Islamic Banks (Liability Side)
  • Lesson 3. Financing by Islamic Banks (Asset Side)
  • Lesson 4. Islamic Banks Services and Fee-based Operations
  • Lesson 5. Cooperation between Conventional and Islamic Banks

Module IV : Islamic Venture Capital and Financial Markets

This module deals with the Islamic Financial Markets, scope and instruments. It also discusses the concepts of venture capital, investment funds, units trusts, securitisation and Sukuk in accordance with Islamic principles as well as use of Shariah screening requirements regulate investments by Islamic banks.

  • Lesson 1. Islamic Venture Capital
  • Lesson 2. Islamic Financial Markets and Instruments
  • Lesson 3. Islamic Financial Derivatives
  • Lesson 4. Islamic Funds and Unit Trusts
  • Lesson 5. Securitisation and Sukuk
  • Lesson 6. Screening of Islamic Investments