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Content of Diploma

The diploma comprises of the following certificates:

Certificate in Islamic Commercial Law

  • Introduction to Islamic commercial law as it relates to Islamic finance.
  • The sources of the Islamic commercial law including the Qur’an and the traditions of the Prophet Mohammad.
  • The methodologies used to solve modern problems in Islamic finance.
  • Shari’ah compliance and the importance of the Shari’ah standards.

Certificate in Islamic Banking and Takaful - products and services

  • The developments which have taken place with regard to Islamic financial institutions and systems.
  • The main source of funds available to banks and how these sources are rewarded.
  • The various products developed by Islamic banks for their customers.
  • The products and services offered under Takaful and issues relating to underwriting, deficits, surpluses and Retakaful.

Certificate in Islamic Capital Markets and Instruments

  • The differences between conventional and Islamic capital markets.
  • The primary and secondary capital markets.
  • Regulation within the Islamic capital market.
  • Screening processes used in accepting/ rejecting Shari’ah compliant products.

Certificate in Accounting for Islamic Financial Institutions

  • The reporting framework and standards of Islamic financial institutions.
  • The analysis and classification of Islamic funding and financing transactions.
  • How transactions adopting different contracts of financing are reported in the Islamic financial statements.
  • Financial accountability and Shari’ah compliance of Islamic financial institutions.