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Islamic Banking & Finance (Beginner Level)

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About Course

This course provides you the skills essential for careers in Islamic banking, finance, and related sectors, with a deep understanding of both theory and practical applications. Practical insights into applying Islamic finance principles in real-world scenarios, especially in the context of financial institutions.

WHAT WILL YOU LEARN?

In beginner module you will be learning following foundational concepts:

  • Principles that govern the Islamic economic framework.
  • Factors that drive economic activity in Islamic societies.
  • Objectives and methods of wealth distribution according to Islamic teachings.
  • The Quranic and Hadith-based prohibitions on usury (Riba) and its various types.
  • Fundamental contracts in Islamic finance, ensuring a grasp of their legal and ethical implications.
  • Sales Transactions: Delve into valid sales, Khiyars (options), and specific types of sales like Murabaha, salaam, Istisna, and Istijrar.

In intermediate module you will be learning Advanced Islamic Financial Instruments in detail.

  • Understanding various partnership models such as Musharakah, Mudarabah, and Diminishing Musharakah.
  • Specific Islamic banking products like Ijarah, Ijarah Wa Iqtina, Tawarruq, and their applications.

In advanced module you will be learning about Islamic Banking and Finance Operations:

  • Comparing the Islamic banking framework with conventional banks, understanding the unique features and differences.
  • Banking operations related to deposits, project financing, working capital financing, import and export financing.
  • The intricacies of treasury operations in Islamic banks, including securitization and investment funds.
  • Risk management in Islamic banking and evaluate its prudence from a risk management perspective.
  • The principle of limited liability, Shariah audit, and compliance for Islamic financial institutions.
  • Understanding the concept of Takaful (Islamic insurance), and its principles.
  • Mechanisms of guarantees and pledges in Islamic finance.
  • The ability to critically evaluate the prudence of Islamic banks, considering both their ethical foundations and risk management practices.
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Course Content

Islamic Economic System
Nature of Shariah rulings Sources of Shariah Introduction of Islamic Economics The economic philosophy of Islam vis a vis interest Distribution of wealth Islamic perspective of distribution of wealth The importance of the economic goals The real nature of wealth and property A short discussion on difference between Islam, Capitalism and Socialism

  • lesson 1.1
    02:49
  • Quiz 1
  • Assignments 1.1
  • lesson 1.2
    02:59
  • Quiz 1.2
  • Assignment 1.2
  • lesson 1.3
    02:28
  • Quiz 1.3
  • Assignment 1.3
  • lesson 1.4
    02:48
  • Quiz 1.4
  • Assignment 1.4
  • lesson 1.5
    02:37
  • Assignment 1.5

Factors of Production in Islam
The Capitalist View The Socialist View The Islamic View Islamic Theory Socialism & Islam Capitalism & Islam Ways of Capital investment Money Lending Business

The Objectives of the Distribution of Wealth in Islam
The establishment of a practicable system of economy. Free & Fair Market System in Islam. Enabling everyone to get what is rightfully due to them. Eradicating the concentration of wealth.

Prohibition of Riba in Quran & Hadith
Prohibition of Riba in the Quran Prohibition of Riba in Hadith

Riba & Its Types

Islamic Contract

Elements of a Valid Sale
Contract or Transaction Goods for Sale or Subject matter (Mabee) Price (Thaman) Delivery or Possession

Sale
Valid Sale Void/ Non existing Sale Existing sale but void due to defect Valid but disliked sale Types of Sale Prohibited Sale Transactions

Khiyars
Definition of Khiyar Khiyar e Shart Khiyar e Roiyyat Khiyar e Aib Khiyar e Wasf Khiyar e Ghaban Iqala ( Recession of Contract)

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