• INCEIF logo
New

Qard Basics: Benevolent Loans in Islamic Finance

Master the fundamentals of qard to understand its significance, ethics, and how it can be used for financial inclusivity.

Two hands reaching out to one another.

Qard Basics: Benevolent Loans in Islamic Finance

  • 4 weeks

  • 1 hour per week

  • Digital certificate when eligible

  • Introductory level

Find out more about how to join this course

Understand qard as a social finance tool

When someone provides a qard, the borrower is obligated to repay only the principal amount borrowed. As a benevolent loan, qard stands as a testament to the prohibition of usury (riba) in Islam, encouraging Muslims to extend financial assistance without the burden of interest.

On this four-week course, you’ll delve into the concept of qard as a social finance tool deeply rooted in Islamic ethics.

You’ll start by understanding the fundamental concepts of qard and its significance in Islamic finance. You’ll also distinguish between qard and qard hasan, understanding their differences.

Discover how qard relates to ethical finance

Qard is often used in various charitable and social finance contexts, promoting economic justice and financial inclusivity within the framework of Islamic principles.

You’ll understand the ethical dimensions of qard and its implications for societal wellbeing. Through this exploration, you’ll discover how qard enables individuals to make a positive impact on society through ethical financial practices.

Develop your understanding of the finance industry

Next, you’ll delve deeper into the operation aspects of qard in Islamic finance.

You’ll dissect the conditions and salient features of qard, comparing them to other financial instruments. Using real-life examples, you’ll gain practical skills in the application of qard in fostering community welfare and operational sustainability.

Explore wealth distribution with INCEIF

Finally, you’ll examine the impact of qard on wealth distribution to gain an understanding of its potential to empower marginalised communities.

By the end of the course, you’ll have a comprehensive understanding of qard, equipped to apply its principles ethically and promote financial inclusivity in your community.

Syllabus

  • Week 1

    Course Introduction

    • Welcome to the Course

      Hi everyone! Welcome to the course on Qard Basics: Benevolent Loans in Islamic Finance. Let's get started!

    • What is Qard

      Discover qard and understand this Islamic financial tool better.

    • Quranic Perspective on Qard

      A look into Quranic verses that touches on qard

    • Difference between Qard & Qard Hasan

      Learn how qard and qard hasan are different from one another

    • Key Takeaways

      A summary of what we've learnt so far.

  • Week 2

    Conditions of Qard

    • Conditions of Qard

      Learn about the conditions of qard

    • Salient Features of Qard

      Learn about the salient features of qard

    • Qard and Service Charge

      Learn about qard and service charge

    • Key Takeaways

      A summary of what we've learnt so far.

  • Week 3

    Application of Qard

    • Application of Qard in Islamic Finance

      Explore the practical implementation of qard within the Islamic financial systems

    • Qard in Action

      Let's look at some real-life examples of qard being applied in different parts of the globe

    • Key Takeaways

      A summary of what we've learnt so far.

  • Week 4

    Impact of Qard on Wealth Distribution

    • Qard and Wealth Distribution

      Qard is a financial instrument that operates on the principle of benevolence and interest-free lending thus will likely make an impact on wealth redistribution. Learn how this week.

    • Complete the Course

      You are almost at the end of this course. Watch the recap video by our educator, Dr Aishath Muneeza; share your thoughts in the final discussion; and answer the assessment to complete this course.

When would you like to start?

Start straight away and join a global classroom of learners. If the course hasn’t started yet you’ll see the future date listed below.

  • Available now

Learning on this course

On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.

What will you achieve?

By the end of the course, you‘ll be able to...

  • Principles and concepts of qard and its significance in addressing societal needs
  • Impact of qard on societies, including its contributions to poverty alleviation, community development, financial inclusion, and ethical financial practices
  • How qard is applied and practised from around the globe

Who is the course for?

This course is designed for anyone interested in Islamic finance such as students, professionals in the finance industry, and anyone wanting to understand the qard contract.

Who will you learn with?

Prof. Dr. Aishath Muneeza currently serving as a Professor and Associate Dean for Students and Internationalization at INCEIF University in Malaysia.
CV: https://sedonaweb.com/members/aishathmuneeza/

E-Learning Instructional Designer | INCEIF University | 15+ years experience in Instructional Design | E-Learning | Learning Content Development
https://www.linkedin.com/in/umihanim/

Who developed the course?

INCEIF

INCEIF is considered to be the knowledge leader in Islamic finance through providing excellent teaching, research and thought leadership.

Ways to learn

Buy this course

Subscribe & save

Limited access

Choose the best way to learn for you!

$134/one-off payment

$349.99 for one year

Automatically renews

Free

Fulfill your current learning needDevelop skills to further your careerSample the course materials
Access to this courseticktick

Access expires 23 May 2024

Access to 1,000+ coursescrosstickcross
Learn at your own paceticktickcross
Discuss your learning in commentstickticktick
Tests to check your learningticktickcross
Certificate when you're eligiblePrinted and digitalDigital onlycross
Continue & Upgrade

Cancel for free anytime

Ways to learn

Choose the best way to learn for you!

Subscribe & save

$349.99 for one year

Automatically renews

Develop skills to further your career

  • Access to this course
  • Access to 1,000+ courses
  • Learn at your own pace
  • Discuss your learning in comments
  • Tests to boost your learning
  • Digital certificate when you're eligible

Cancel for free anytime

Buy this course

$134/one-off payment

Fulfill your current learning need

  • Access to this course
  • Learn at your own pace
  • Discuss your learning in comments
  • Tests to boost your learning
  • Printed and digital certificate when you’re eligible

Limited access

Free

Sample the course materials

  • Access expires 23 May 2024

Find out more about certificates, Unlimited or buying a course (Upgrades)

Learning on FutureLearn

Your learning, your rules

  • Courses are split into weeks, activities, and steps to help you keep track of your learning
  • Learn through a mix of bite-sized videos, long- and short-form articles, audio, and practical activities
  • Stay motivated by using the Progress page to keep track of your step completion and assessment scores

Join a global classroom

  • Experience the power of social learning, and get inspired by an international network of learners
  • Share ideas with your peers and course educators on every step of the course
  • Join the conversation by reading, @ing, liking, bookmarking, and replying to comments from others

Map your progress

  • As you work through the course, use notifications and the Progress page to guide your learning
  • Whenever you’re ready, mark each step as complete, you’re in control
  • Complete 90% of course steps and all of the assessments to earn your certificate

Want to know more about learning on FutureLearn? Using FutureLearn

Do you know someone who'd love this course? Tell them about it...