Executive Diploma in Islamic Finance


Executive Diploma in Islamic Finance gives an overview of world Islamic finance with deep learning understanding. At the end of the course, the students will have good theoretical and practical knowledge of the principles of Islamic finance. The student will develop a strong foundation for further studies in Islamic finance. The student will be introduced to the Islamic financial instruments, techniques, understanding of Islamic financial markets.


–  The principles of Islamic finance

–  History of Islamic finance and introduction to the industry

–  Islamic financial instruments  

–  Introduction to Islamic banking

–  Islamic capital market 

–  Islamic insurance (Takaful) and re-insurance (retakaful)

–  Corporate governance for IFI

–  Risk management in IFI

–  Islamic Accounting and financial reporting

Program Summary




Executive Diploma in Islamic Finance
For Whom Anyone who wanted to know about Islamic finance at an intermediate level and start a career or academic program in the field of Islamic Finance
Study Mode Distance learning (Online)
Duration Duration 3 – 9  months Students need to cover 90 hours of study material.
Prerequisite Good knowledge of English
Fees US$ 300*
Program intake Though out the year except Ramadan and Hajj festivals
Learning materials Animated videos, reading materials, Case studies and weekly live Q & A with instructors
Assessment Students need to complete the end of chapter questions and assignments.
Award Executive Diploma in Islamic Finance
Awarding body IIISEF/GSBE

* Limited number of scholarships available for suitable candidates upon confirmation of admission. 


Course details 


The Diploma in Islamic Finance is a 3-6 months program that combines both theory and practice. All the modules give good understanding how the Islamic finance industry works and their importance. The syllabus has been designed based on Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Bahrain Accounting, Auditing and Sharia standards.

Admission Eligibility

To be admitted to the EDIP Program in Islamic Finance, students must have a basic knowledge of English language.

Duration of the course

The duration of the course will be 3 – 12 months (Students can complete the course at their own pace and can complete within 24 months time)

Medium of Instruction

Medium of Instruction will be English.

Mode of study: Distance learning. Students will be provided access to our learning management system to access E-learning materials. The students need to complete assignment given at the end of each module.



IF 201 The principles of Islamic Finance (3 Credits)

This module explains the basics of Islamic finance, economics, law, industry and history. At the end of the course you will be able explain

  1. What is Islamic finance?

  2. What are the principles governed by Islamic finance

  3. The history of Islamic finance

  4. The current development in Islamic Finance

Assessments: MCQ/Assignment 

IF 202 Islamic financial instruments

This course introduces Islamic financial instruments used in Islamic finance industry. The basic Islamic contracts are explained with their application in the Islamic banking industry. At the end of the lesson the students will be to explain and under the applications of

Mudarabah, Musahrakah, Ijarah, Ististna, Salam, Murabaha and Tawaruq

Assessments: MCQ/Assignment


IF203 Introduction to Islamic banking (3 Credits)

After understanding the basic principles and law of contract, this module is the application of the basic Islamic contracts in banking industry. End of this course you will be able understand and describe ;

  1. How does Islamic banks differs from conventional banks

  2. The products offered by Islamic banks

  3. The sources and use of funds in Islamic banks

  4. The operations of Islamic banks

Assessments: MCQ/Assignment

IF 205 Islamic capital market

The Islamic Capital Market trade short term and long term instrument of Islamic banks. The module introduces Islamic instruments and its applications. At the end of this course, you will be able to explain;

  1. What is a capital market in general.

  2. The difference between Islamic capital market and conventional capital market.

  3. The instruments used in Islamic capital market.

  4. Development of Islamic capital market.

Assessments: MCQ/Assignments

IF205 Islamic Insurance (Takaful)

Takaful is an alternative Insurance system for traditional insurance. Takaful is based on mutual cooperation. This module helps to grasp ;

  1. Basic principles of Takaful

  2. The difference between Takaful and traditional insurance

  3. The Takaful operator models

  4. The Takaful industry

  5. The Re-Takaful industry

Assessments: MCQ/Assignments

IF301 Corporate Governance of Islamic Financial Institutions/Banks

Corporate Governance of Islamic bank is same in certain aspects and different from many aspects. It is important to know

  • How does corporate governance of Islamic bank different from conventional
  • Corporate Governance models
  • Structures in corporate governance

Assessments: MCQ/Assignment

IF302 Risk management of Islamic banks

Islamic banks are exposed risk as conventional. But the Islamic banks manages the risk different from conventional banks. At the end of this module you will be able describe,

  1. The risk faced by the Islamic banks.

  2. The generic risk of Islamic banks and conventional banks.

  3. Unique risk of Islamic banks

  4. Risk management by Islamic banks

Assessments: MCQ/Assignments

IF 401 Capstone project

A small 2000 word project and the information will be provided to the students once the all the other modules are completed.