Since the Islamic religion has its own rules and teachings, the urge to establish Islamic Banking and Finance science that is based on Muslims’ Sharia regulations became a necessity. Islamic Banking and Finance tackles banking and finance from Islam’s perspective, where it sets the rules for institutions to run financial matters using Islamic concepts and methods such as Mudarabah (profit-sharing and loss-bearing), Wadiah (safekeeping), Musharaka (joint venture), and Murabahah (cost-plus). It also illustrates the Islamic restrictions on financial deals such as usury.
Diploma in Islamic Banking aims to showcase the difference between Islamic banking and Conventional banking. It is equivalent to Level 5 of the National Qualifications Framework of England, Wales and Northern Ireland of the United Kingdom. In addition, the diploma emphasizes the Islamic principles and operating structures in Islamic banking. Furthermore, it is going to provide fundamental principles and methods adopted by banks offering Islamic Banking and Finance services.
Institute of Islamic Banking and Insurance (IIBI)
The establishment of the Institute of Islamic Banking and Insurance (IIBI) came in order to spread Islamic teachings in terms of Islamic financial systems. IIBI is a nonprofit company that aims to exchange information between Islamic and other financial systems through researches, lectures, seminars, conferences and continuing professional education.
Diploma in Islamic Banking Requirements
There are no prerequisites required for the course. Therefore, anyone interested in the Islamic financial system or seeks to advance a career in this field can register for the course.
Diploma in Islamic Banking Study Materials
You will receive the study materials via email upon your successful registration for the diploma.
You can register for the diploma through IIBI’s website.
Diploma in Islamic Banking Details
Training Course Details: the course consists of 5 modules and is available year-round worldwide.
- Islamic Economic System
- Modes of Shari’ah-Compliant Transactions
- Islamic Banking Operations
- Governance, Regulation, Accounting Issues in Islamic Banking
- Introduction to Islamic Insurance (Takaful)
Duration: you need to complete the entire course within 9 months. If you needed to extend the period, IIBI will charge you additional fees.
Assessment Details: during the course, you will be asked to submit formal assignments upon which you will be assessed.
Mode of Study: IIBA adopts distant learning strategy that can be done via email or online access.
- The diploma costs £525.00. IIBI sometimes offers discounts, for discounts eligibility, visit IIBI’s website.
- Course Extension Fees: £100 for 3 months and £150 for 6 months.