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Understanding Islamic Banking for Consumers

Get a consumer’s guide to Islamic banking and discover Shariah-compliant financial products, solutions, and services.

A financial adviser holding a tablet to show his Islamic client some digital banking products.

Understanding Islamic Banking for Consumers

  • 5 weeks

  • 1 hour per week

  • Digital certificate when eligible

  • Open level

Find out more about how to join this course

Elevate your banking skills by mastering key Islamic finance principles

Understanding consumer needs, including those specific to Islamic banking, is paramount to strong financial management. To do so, however, it’s critical to stay informed about what banking services and products are available to consumers, and how they are changing given the ever-evolving financial industry.

Stay ahead of the curve by joining this five-week course from INCEIF University, where you’ll gain invaluable insights and skills specific to the Islamic banking system. Designed to provide essential knowledge for both customers and business professionals, this course covers key rules, principles, and practices for Shariah-compliant banking.

Understand the frameworks of Islamic finance, from fundraising to business finance to trade

After an introduction to the business life cycle and the legal and ethical framework of Shariah Law, take a closer look at Islamic financial products and services available to consumers.

You’ll learn what consumers expect from financing solutions today, and how Islamic banking solutions and services meet those needs. You’ll also review new financial technologies and their implications for Shariah Law.

Explore financing, risk analysis, and due diligence as it relates to Islamic finance

Examine key Shariah-compliant financial processes, including credit, risk analysis, and due diligence. You’ll learn what differentiates Islamic financial products and processes, and how these can protect consumer interests.

Gain quantitative and qualitative skills in financial evaluation, and understand the role of collateral in financing. By the end of this course, you’ll be equipped to make more informed financial decisions as a consumer and banking professional.

Syllabus

  • Week 1

    Introduction to Structuring Financial Requirement and Solutions for Consumers

    • Do you know what your customers want?

      Are your customers looking for Islamic financing solutions? How can you provide the solutions your customers need?

    • Worldview Of Islam

      This topic covers Islamic worldview that is relevant to Islamic financial transactions.

    • Regulatory Requirement and Governing Legal Framework

      A look into the regulatory requirement and governing legal framework for Islamic financial institutions.

  • Week 2

    Understanding Customers' Needs

    • Introduction to Financing Requirements of Consumers

      Do you understand what the consumers are looking for when it comes to financial products and services?

  • Week 3

    Islamic Banking Products and Services for Consumers

    • Basic Functions of Islamic Banks

      Do Islamic banks function the same way as conventional banks? What are the similarities and differences between the two banking systems?

    • Islamic Banking Solutions and Services

      There are many Islamic banking solutions and services that cater to the needs of the consumers. This section delves into the different products and services as well as the related underlying shariah principles.

  • Week 4

    Introduction to Credit/Financing Process

    • Introduction to Credit or Financing Process

      Explore the the fundamental concepts and principles that underpin the world of credit and financing.

  • Week 5

    Introduction to Risk Analysis and Due Diligence

    • Risk Analysis

      Gain a better understanding on risk analysis and due diligence in Islamic financing. Also covered in this week is credit scoring and how credit score factors in the overall risk analysis process.

    • Credit Scoring

      Do you know how credit score can influence financing? Learn more in this topic.

    • Conclusion and Next Step

      A summary of the course highlighting the key takeaways as well as an assessment of your learning journey.

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...

  • Discuss how the Worldview of Islam, Maqasid Al Shariah, and Regulatory Requirements and Governing Legal Framework shape the principles and methodologies behind crafting tailored financial solutions within an Islamic framework
  • Identify the diverse financial needs of individuals across different lifecycles and lifestyles, enabling them to tailor financial solutions effectively to meet the unique requirements of various types of personal customers
  • Describe the basic functions of Islamic banks and the diverse range of Shariah-compliant financial products and services available
  • Describe fundamental principles guiding credit and financing decisions, the methodologies employed in the financing decision process, and the intersection of Shariah principles and legal frameworks in financing activities
  • Discuss affordability analyses for term financing, applying principles of credit and financing to consumer contexts, understanding credit scoring methodologies, and interpreting credit scoring examples

Who is the course for?

This course is designed for anyone interested in deepening their understanding of Islamic banking practices, including banking professionals, accountants, financial advisers, consultants, bank customers, students, and the general public.

Who will you learn with?

INCEIF University is the knowledge leader in Islamic finance, achieved through the provision of excellent teaching, research and thought leadership.

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.

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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 25 Jul 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

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