|Course Level||Level 3|
|Awarding Body||ABC AWARDS|
|Study Method||Distance Learning|
|Course Duration||200 Recommended Study Hours|
|Entry Requirements||No Entry Requirements|
With one-fifth of the world’s population now seeking or actively utilising Islamic banking and financial services, the industry as a whole has never been more relevant. Every year, demand for Islamic financial products and services once again accelerates exponentially, creating a sector in which career opportunities are as abundant as they are both dynamic and rewarding. To understand the core differences between the Islamic banking system and conventional banking is to benefit from a comparatively rare and increasingly sought-after skills set.
This Islamic Finance Certificate, has been designed for those with an interest in finance and the desire to begin or advance a career of endless possibilities. No specific prior experience or relevant education is required to get the very most out of this course, which over seven in-depth modules gradually guides candidates through all essential areas of contemporary Islamic banking. A basic understanding of banking and finance is beneficial, though in no way essential.
Course content on this Islamic finance certification online, begins by outlining the contemporary Islamic financial and banking systems in general, before providing candidates with an in-depth exploration of the differences between Islamic banking and conventional banking. A series of important Islamic financial products are introduced and dissected, along with an overview of core Islamic business ethics and the role/importance of Takaful.
Islamic banking online course, is delivered over seven in-depth modules:
Module 1 – Introduction to Islamic Banking
The introductory course module provides candidates with a broad overview of the modern Islamic banking system, incorporating an exploration of several critical financial instruments and products. Along with an investigation of the primary theories and foundations of Islamic banking practices, candidates are introduced to Islamic financial contract prohibitions.
Module 2 – The Basics of Islamic Banking & Finance
Course content in the second module turns focus to the basics of Islamic finance and an exploration of historical and contemporary Islamic banking philosophies. Along with several important alternative financing principles, candidates explore Mudarabah, Musharakah, Murabaha–Mu’ajjal, Salam, Ijarah and Istisna‘a.
Module 3 – Islamic Banking and Conventional Banking: The Difference
The primary core focus of Module 3 is the way in which Islamic banking and conventional banking differ, guiding candidates through the various similarities and important differences between the two. Candidates begin to build an understanding of why Islamic banking is both unique and of enormous importance in today’s society.
Module 4 – Islamic Law of Contract
Candidates then go on to explore Islamic law of contract in Module 4, which outlines and explores a variety of Islamic contracts elements, a series of common Islamic financial contract types and the roles they play in the modern Islamic banking/financial system.
Module 5 – Islamic Financial Products
A number of important Islamic financial products are explored in much greater depth in Module 5, which also brings investment banking and Islamic financial institutions into the discussion. Along with Sukuk as an Islamic market instrument, candidates are guided through the most important Islamic principles with regard to stocks.
Module 6 – Takaful
Course module six explores the key differences between standard insurance and Takaful, establishing exactly why it is that conventional insurance is disallowed in the Islamic banking sector. The Takaful system is broken down into its core components and explored in-depth.
Module 7 – Islamic Business Ethics
In the closing course module, candidates are provided with an insightful overview of business ethics from the perspective of the contemporary Islamic banking and finance sector. Along with an investigation of the prohibition of misleading marketing –Khalabah – candidates explore the importance of justice, legitimate earnings, honesty, gentleness and other essential concepts/teachings.
At the end of this course successful learners will receive a Certificate of Achievement by ABC Awards and a Learner Unit Summary (which lists the details of all the units you have completed as part of your course).
The course has been endorsed under the ABC Awards’ Quality Licence Scheme. This means that OHSC has undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria. The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future. The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector. To this end the learning outcomes of the course have been benchmarked at Level 3 against level descriptors published by Ofqual, to indicate the depth of study and level of difficulty involved in successful completion by the learner.
The course itself has been designed by OHSC to meet specific learners’ or employers’ requirements. ABC Awards’ endorsement involves a robust and rigorous quality audit by external inspectors to ensure quality is consistently met. A regular review of courses is carried out as part of the endorsement process.
ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government. They have a comprehensive portfolio of over 650 Ofqual regulated qualifications on the national Qualifications and Credit framework (QCF). It has a long-established reputation for developing and awarding high quality vocational qualifications across a wide range of industries. As a registered charity, ABC Awards combines 180 years of examination and assessment expertise but also implements a responsive, flexible and innovative approach to the needs of our customers.
Renowned for excellent customer service, and quality standards, ABC Awards also offers over 600 Ofqual regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.
Q. How does Distance / Online Learning work?
All our courses offer the flexibility of learning. These are divided into units. After each course unit the student is required to complete and submit an assignment. Students work through each unit at your own pace. There are no deadlines for completing and submitting the assignments. Tutor marks the assignment and uploads the result on the portal. The student then moves on to the next unit and this way completes the course. All the submitted work is assessed by the awarding body at the moderation stage. Recognised Certificate is issued by the awarding body.
Q. When can I start the course?
You can start the course anytime. The enrolments are continued throughout the year.
Q. What is the enrolment process?
Enrolment process is very simple. After you have chosen the course you wish to take you can just fill in an online form and we will send you invoice for the course fee. On receipt of payment we will give you course access and your course tutor will contact you as well. You can even start right now by paying the course fee online.
Q. Can I take up the course if I am not in the UK?
Yes, you can. All our courses can be taken up and completed from anywhere around the world. If you are an international student you will enjoy the same support as any other student within the UK does.
Q. How long does it take to complete the course?
This entirely depends on you that how much time you dedicate to your studies and how fast you intend to complete the course. We have provided estimated study hours for each course on the course page. You can plan your study according to your own schedule.
Q. Will I get tutor support?
Yes. all our courses come will one to one tutor support. This support is available for duration of the course. Once you will enrol on the course you will be allocated an experience tutor who will guide you throughout the course. The tutor will mark your assignments and will provide you feedback on your submitted work. You can contact your tutor through email.
Q. Can I retake the assignment if I fail it once?
Yes, In that case your tutor will ask you to resubmit your assignment and will highlight the areas where you need improvement.
Q. Is there any deadline for submitting the assignments?
No, there are no deadlines for the submission of assignments. Students work at their own pace and plan their study according to their own schedule. However you will submit one assignment at a time so that the tutor can mark one and can give you feedback. Following which you can move on to your next unit and assignment.
Q. Do I need to sit an exam at the end?
All our courses are assignment based. Your submitted work is assessed throughout the course. There is no final exam at the end.
Q. Do I need to purchase any text books?
College provides comprehensive course materials containing all the relevant information you require to complete the course. All this is all included in the course fee. However we encourage our students to undertake additional study on the topics. For further help we have provided additional supporting material on the portal. There are also useful links relevant to the course you are studying.
Q. English is not my first language can I still complete the course?
All our courses have been specially written for home study keeping in mind that our students come from all parts of the world and English is not the first language for most of them. Our course materials are written in easy to understand English. If you have basic English skills you can easily complete the course.
Q. What are the entry requirements?
There are no specific entry requirements for most of our courses. All you need to have is the motivation and commitment for completing the course.