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The aim of this qualification is to provide candidates with an introduction to Islamic finance and banking. They will review the fundamental principles underlying Islamic finance and learn about the main Shariah-compliant financial instruments. They will be introduced to the main operations of Islamic banking and learn about Islamic contracts and Islamic bonds. Their study will include practical applications of Islamic financial principles including those involving calculations. This qualification will also offer learners of financial management the basic fundamentals of Islamic Finance and Banking. The learner will cover aspects associated with Islamic Finance and Banking from the prohibitions in taking or receiving interest and will also explore how Islamic Banking and Finance principles have evolved into structures.
Benefits of the Qualification
The primary benefits of achieving this qualification is that learners will be able to:
Essentials of Islamic Finance and Banking
We recruit centres to recruit learners that have the potential to achieve the rigorous standards required of the qualification. Furthermore, we recruit learners with integrity and consistency to ensure fairness of access and ability to all learners.
We make a professional judgement about the ability of a potential learner to successfully complete the programme of study and achieve the qualification, based on prior academic learning and/or prior relevant work experience.
|Qualification Title||Diploma in Islamic Banking and Finance|
|QCF / RQF / EQF Level||7|
Whilst the principles underpinning Islamic Finance have existed for hundreds of years, the modern industry did not start to develop until 1975 with the establishment of the Islamic Development Bank. It has grown rapidly – in 2014 alone, the global market (measured by assets) grew by 12% to $2 trillion. As Islamic Finance evolves to be more competitive and increasingly sophisticated, demand for Islamic Finance talent is set to grow. EduQual is keen to contribute to the expansion and enrichment of Islamic Finance knowledge, skills and understanding and as such, we have developed a postgraduate-level Diploma in Islamic Banking and Finance.
The qualification consists of the following four units:
|Unit Title||EduQual Level||EduQual Credits|
|Principles of Islamic Finance||7||30|
|Operational Islamic Finance||7||30|
|Economics in Finance and Banking||7||30|
|Islamic Finance and the Modern World||7||30|
Learners can obtain academic credit (four modules) towards the MA Islamic Banking, Finance and Management, delivered by the Markfield Institute of Higher Education and awarded by Newman University (Birmingham). To be awarded the Master’s degree, learners will need to complete four additional modules (including Research Methods) and a dissertation.
About Madinah Islamic University (MIU)
Madinah Islamic University (MIU) is an Independent Online educational establishment delivering quality and authentic Islamic knowledge to the world. MIU has emerged from the desire of every Muslim to study the sciences underpinning the religion of Islam, but not having the opportunity and means to travel to study for prolonged periods of time to achieve this. MIU is an online University that caters for the needs of all those who are not able to travel to study in Islamic institutions.
The objective of MIU is to bring together the professionalism and quality assurance of the western Universities with the teaching curricula of the ‘Islamic University of Madinah’. MIU offers a unique curriculum which is an abridged version of the curriculum from ‘The Islamic University of Madinah’, and is accessible to everyone that desires to improve their knowledge of Islam.
At MIU, we aim to be an outstanding provider of a wide range of Islamic courses that meet the needs of everyone, combining tradition with innovation and outstanding teaching and learning.