Diploma in Islamic Banking and Finance – EduQual [QCF / RQF / EQF Level 7]

Course Aims

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.

Key points

• Developed by experienced academics and professionals to reflect the latest occupational standards
• An EduQual regulated qualification ensuring a recognised level of achievement
• 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.

Benefits of the Qualification

The primary benefits of achieving this qualification is that learners will be able to:

• Develop the theories, tools and techniques for aspiring and existing senior managers / directors in the accounts and finance sectors
• Focus on current applied experience and practice and the underlying essentials of Islamic finance and banking from a strategic view point
• Progress to, and credit against the standards of master degree programmes in higher education institutions

Learning Outcomes

Essentials of Islamic Finance and Banking

• Understand the evolution of Islamic banking and finance principles
• Understand the differences between Islamic finance and banking and the conventional modes of finance and banking
• Understand aspects of Islamic banking and finance product and services markets
• Understand the governance of Islamic banking and financial

Entry Requirements

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.

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.

Programme Specification

The qualification consists of the following four units:

Progression:

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.