Advanced Diploma in Islamic Finance


This 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

  • The principles of Islamic economics and finance
  • Islamic commercial law
  • Islamic financial instruments
  • Islamic banking – Products and Operations
  • Islamic Capital markets and instruments  
  • Sukuk – Islamic bonds
  • Takaful and retakaful industry
  • Corporate governance for IFI
  • Hedging techniques in IFI
  • Islamic Accounting and financial reporting
  • 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.

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

  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


US $ 750  AITU

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

Online Application for this course



Course details

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/Assignments

IF202 Islamic Commercial Law (3 Credits)

This module describes the Islamic commercial law and how it relevant for Islamic finance. At end of the course you will be able to describe;

  1. The sources of Islamic law.

  2. What is Sharia compliant?

  3. How Islamic commercial law is related with Islamic finance.

  4. The contracts in Islamic commercial law.

Assessments: MCQ/Assignments

IF 203 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/Assignments


IF204 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/Assignments


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


IF206 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


IF 301 Islamic Bonds – Sukuk, Introduction and application

Islamic Bond is one the core component of Islamic Capital Market. The module introduces Islamic bond and its applications. At the end of this course, you will be able to explain;

  1. What is an Islamic bond or Sukuk.

  2. The difference between Islamic bonds and conventional bonds.

  3. The structures of Sukuk.

  4. The Sukuk industry and development.

Assessments: MCQ/Assignments


IF302 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

  1. How does corporate governance of Islamic bank different from conventional

  2. Corporate Governance models

  3. Structures in corporate governance

Assessments: MCQ/Assignments


IF304 Hedging Techniques in IFI

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

  1. The risk faced by the Islamic financial institutions.

  2. The risk management techniques used by IFI.

  3. Islamic financial engineering

Assessments: Student needs to complete the end of the chapter questions and send it to the instructor. The assignment should be 3 -4 pages.

IF303 Islamic Accounting

Islamic Accounting has its own principles and standards. The accounting standards used by IFI are different from conventional institutions. This module explains;

  1. What is Islamic Accounting

  2. Basic principles in Islamic Accounting

  3. Reporting for IFI

  4. AAOIFI Standards for Accounting and Auditing

Assessments: Student needs to complete the end of the chapter questions from 1, 3, 4, 5, and 6 to the instructor. The assignment should be 3 -4 pages.

IF 401 Mini Thesis

Mini thesis is the last project should be written on important themes in Islamic finance or Islamic Accounting related to the topics that you have studied in the previous modules.

Choose a contemporary topic and write an analytical thesis using several of the major themes presented during the course. Your thesis should be divided into several sections according to the methodology that you have done during the course.

Your thesis should be sourced. In other words, identify thoughts, information, ideas, data, and facts that are not your own. There are a number of ways you can do this. You can use various citation guidelines to source your thesis. A common one is the Modern Language Association (MLA) guidelines which require the writer to list the last name of the author of a book, journal, or periodical and the page number of the citation at the end of sentence cited, or if you are attributing a thought, or idea that is not your own.

Also, The American Psychological Association (APA) requirements are also acceptable. It is a footnote system that most computers will automatically do for you. The write inputs the source (citation) information at the bottom of the page listing the name of the author, the title of the book, journal, periodical, with place of publication, publisher, year of publication and the page number.

The thesis should be at least 3000 words count.