Course description
This course will first introduce you to Islamic finance and banking and teach you about the growth and potential for Islamic finance. You will look into the five core aims of Sharia law and learn that the Sharia law prohibits unethical, immoral, and speculative activities. The course will also discuss the Islamic perspective on wealth. You will learn the aspects of Islamic law and contracts such as types of transactions, ownership categories, and common elements of a contract.
You will then look into modes of finance including the prohibition of Riba or interest, the Prohibition of Risk (Gharar), and the Islamic insurance (Takaful). The course will discuss the difference between conventional and Islamic banks as well as the key Islamic finance products. You will also study the role of the independent Sharia boards which includes proper guidance to institutions and leading research and development programs. You will also take a look at the global regulatory environment.
This free Global Islamic Finance and Banking course covers the key concepts, services, and future of one of the fastest growing financial sectors in the world, is valued globally at more than $2 trillion USD. By taking this course, business people and government employees interested in Islamic finance and banking around the world will gain better knowledge and a deeper understanding of Islamic finance and banking. This knowledge can be highly valuable and useful, so have a look at the Islamic finance course today, and start your next learning journey.
Upcoming start dates
Training content
Module 1: Introduction to Islamic Finance
Description: In this module, you will be introduced to Islamic finance and banking and learn about the growth and potential for Islamic finance.
- Learning Outcomes
- Course Overview
- Introduction with Almir Colan
- What is Islamic Finance?
- What is Sharia?
- Islamic Perspective on Wealth
- Historical Context of Modern Islamic Finance and Banking
- Lesson Summary
Module 2: Islamic Law and Contracts
Description: In this module, you will learn about aspects of Islamic law and contracts such as types of transactions, ownership categories, and common elements of a contract.
- Learning Outcomes
- Sources of Islamic Law
- Actions in Islam
- Contract and Business Transactions
- Common Elements of a Contract
- Types of Transactions
- Ownership Categories
- Classifications of Contracts
- Contract Conditions
- Lesson Summary
Module 3: Modes of Finance
Description: This module will teach you about modes of finance including prohibitions of interest and risk, conventional vs Islamic banks, and key Islamic finance products.
- Learning Outcomes
- Prohibitions of Interest (Riba)
- Prohibitions of Risk (Gharar)
- Islamic Insurance (Takaful)
- Difference between Islamic and Conventional Banks
- Modes of Islamic Financing: Debt or Equity Based
- Equity Partnership, Joint Venture (Musharaka)
- Investment Partnership (Mudaraba) & Banking
- Leasing (Ijarah) & Leasing vs Sale
- Cost Plus Sale (Murabahah)
- Choosing an Islamic Product
- Housing Finance
- Lesson Summary
Module 4: Regulatory Issues
Description: In this module, you will learn about the role of the independent Sharia boards, the global regulatory environment, and hear an overall summary of the benefits of Islamic finance.
- Learning Outcomes
- Role of Independent Sharia Boards
- Global Regulatory Environment
- Law, Sharia & Business
- Next Steps and Options
- Feedback and Close
- Lesson Summary
Course assessment
- Assessment: Global Islamic Finance and Banking: Course Assessment
Certification / Credits
By the end of this course, you will be able to:
- List the aims of Islamic finance in contemporary society
- Describe the benefits of Islamic finance and banking
- Identify the main principles of Islamic banking and finance
- Discuss how different Islamic modes of financing work
- Define the current market and future opportunities for the sector
- Recall the meanings of Riba, Gharar and Takaful
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