ADVANCED DIPLOMA IN ISLAMIC FINANCE (IF02)

ADVANCED DIPLOMA IN ISLAMIC FINANCE (IF02)

Advanced Diploma in Islamic Finance

Overview

Advanced Diploma in Islamic finance course aims to provide extensive knowledge in Islamic finance. The course discusses Islamic economics, Islamic finance, products, markets, governance and the application of the concepts in the real world. The student will get both theoretical and practical knowledge of Islamic finance. The course will give entry to Masters’s programs in Islamic Finance. This is an online course in Advanced Diploma in Islamic Finance.

Contents of the course Advanced Diploma in Islamic Finance

  • The principles of Islamic economics and finance
  • Islamic commercial law
  • Islamic financial instruments
  • Islamic banking – Products and Operations
  • Islamic Investment, Capital markets and Sukuk  
  • Takaful and retakaful industry
  • Corporate governance for IFI
  • Islamic Accounting and financial reporting
  • Risk management for IFI
  • Islamic Micro Financing
  • Mini thesis/ Capstone project 

 

Program Advanced Diploma in Islamic Finance
For whom

Anyone who wanted to know about Islamic finance and Accounting at a higher level and start a career or academic program in the field of Islamic Finance and Accounting

Study mode Distance learning (Online)
Duration Duration 6 –  18 months (Minimum 6 months and maximum 18 months
Students need to cover 120 hours of study material.
Prerequisite

Good knowledge of English and bachelor’s degree in any field or Diploma in business administration or any part/full qualification in ACCA, CIMA, CFA and AAT or any other qualification accepted by the school, case by case/ 2 years work experience would be considered for entry if the student does not have these qualifications.

Awarding body

Students can select either

  1. IIISEF/GSBE
  2. American International Theism University
Program intake Though out the year except Ramadan and Hajj holidays
Learning materials Animated videos, reading materials, e-books and case studies weekly live Q & A with instructors
Assessment Student need to complete end of chapter questions, assignments, Capstone projects and mini thesis
Award Advanced Diploma in Islamic Finance
Fees

US $ 500 IIISEF/GSBE

US $ 750  AITU

* Limited number of scholarships available upon confirmation from admission department.

Online Application for this course

 

 

Course details

ADIF110 Introduction to Islamic Finance

Learning objectives

  • Describe the conceptual basis of the modern practice of Islamic banking and finance.

  • Explain the historical development of and conceptual arguments for Islamic banking and finance.

  • Understand the components and operating structures of the Islamic banking and finance industry as well as the process of development of Islamic finance products.

  • Describe the current size and worldwide spread of Islamic banking and finance.

ADIF 210 Islamic Commercial and Financial Law

Learning objective

  • Understand the underlying philosophy of business transactions in Islam.

  • Explain the meaning of contracts, and the legal concepts and theories of the various types of contracts in Islamic law.

  • Describe the classification of contracts, what constitutes a contract of sale, and the legal capacity to enter into such contract in Islamic law.

  • Analyze the main forbidden contracts in Islamic commercial transactions.

 

ADIF 220 Islamic Financial instruments (3 Credits)

Learning objectives

  • Describe the sources and uses of funds and the operation of bank accounts by Islamic banks.

  • Understand how exchange-based contracts are utilized as financial instruments in Islamic finance.

  • Understand how service-based contracts are utilized as financial instruments in Islamic finance.

  • Understand how partnership contracts are utilized as financial instruments in Islamic finance.

  • Know the nature of supporting contracts in Islamic finance, including the unilateral supporting contracts.

 

ADIF120 Islamic banking – Products and operations (3 Credits)

Learning objectives

  • Differentiate conventional bank and Islamic banks

  • Describe the functions of Islamic banks

  • Identify the sources and uses funds in Islamic banks

 

ADIF230 Islamic Investments, Capital Market and Islamic Bonds (Sukuk)

Learning objectives

  • Understand the basic concepts of Islamic investments

  • Describe the Islamic capital market and its functions

  • Differentiate between Islamic and conventional capital market

  • Identify functions used in Islamic Capital market

  • Understand how does Sukuk differ from conventional bonds



ADIF240 Islamic insurance (Takaful)

Learning objectives

  • Understand the meaning and basic concepts of takaful as an alternative to conventional insurance with an insight into its historical development.

  • Describe the innovative Sharī‘ah-approved models and structures of takaful.

  • Describe the main takaful products and their expansion into the global insurance market.

  • Analyze the process of determining and allocating surplus or deficit as proposed by AAOIFI.

  • Explain the relevance of reinsurance and retakaful in the modern practice of takaful business.

 

ADIF310 Corporate Governance for Islamic financial institutions

Learning objectives

  • Describe the meaning of corporate governance within the Sharī‘ah framework as practiced in modern Islamic financial institutions.

  • Explain the models and key principles of corporate governance, including Sharī‘ah governance.

  • Understand the mechanisms of corporate governance and control, including the different organs in Islamic financial institutions.

  • Understand the different models of corporate governance and Sharī‘ah governance, and the different approaches adopted by Islamic financial institutions.

  • Understand the dynamics of corporate governance in Islamic insurance entities.

ADIF 320 Islamic Accounting and Financial reporting for Islamic financial institutions

Learning objectives

  • Understand the definition of accounting from both conventional and Islamic perspectives, respectively, and its significance in financial decision-making.

  • Explain the relevance of International Financial Reporting Standards (IFRS) in international accounting regulation.

  • Understand the basic principles of accounting.

  • Understand the basic principles of Islamic accounting.

  • Differentiate between the accrual and cash flow accounting methods.

  • Draft the main financial statements for Islamic finance products.

 

ADIF 330 Risk Management in Islamic Financial Institutions

Learning objectives

  • Understand the concept of risk management from the Islamic perspective, with particular reference to Islamic commercial transactions.

  • Be familiar with the types and characteristics of risk exposure and the Islamic banking risks under the IFSB’s guiding principles.

  • Examine the risk management techniques in Islamic banks and how such risks can be avoided, absorbed, or transferred.

  • Understand risk management techniques such as hedging through the use of the following derivatives: forwards, futures, and swaps, based on Sharī‘ah -compliant risk mitigation frameworks.

ADIF340 Islamic Micro Financing

Learning Objectives

  • Be familiar with the history and basic components of Islamic microfinance and the benefits to society.

  • Identify key Islamic finance products that have been used for microfinance.

  • Understand the differences between Islamic microfinance institutions and conventional microfinance institutions.

  • Be familiar with the major Islamic microfinance institutions in the modern world.

  • Understand the corporate social responsibility role of Islamic banks in

  • financing micro-enterprises.



IF 400 Capstone project

A small 1500 word project and the information will be provided to the students once the all the other modules are completed.

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