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Islamic Banking: Operationalisation of Shariah

Understand the key principles and applications of Shariah Law in finance to prepare for careers in Islamic banking.

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Islamic Banking: Operationalisation of Shariah

  • 4 weeks

  • 1 hour per week

  • Digital certificate when eligible

  • Intermediate level

Find out more about how to join this course

  • Duration

    4 weeks
  • Weekly study

    1 hour
  • 100% online

    How it works
  • Unlimited subscription

    $244.99 for one whole yearLearn more

Master Shariah-compliant finance procedures with INCEIF University

Shariah Law has implications for a wide range of operations within banking. Anyone aspiring to work in Islamic finance needs to be able to understand and apply the fundamental principles of Shariah.

This four-week course from INCEIF University examines the operational aspects of Shariah in the Islamic banking industry. Covering real estate, car, and personal finance, the course will give you the practical expertise you need to follow Shariah-compliant procedures.

Gain an overview of Shariah and its operationalisation

The course will begin with an introduction to Shariah and its operationalisation.

From core products and documentation to consumer processes and workflows, you’ll gain a broad overview of essential applications of Shariah in banking.

Prepare for careers in Islamic banking

As well as understanding the financial applications of Shariah in your own life, you’ll also receive training for work in the Islamic banking industry.

You’ll learn how to manage Shariah-compliant documents and products, and evaluate common occurrences of Shariah non-compliance. This will prepare you for careers in Islamic banking.

You’ll finish the course with actionable insights that you can take away and implement in your own company or organisation.

Syllabus

  • Week 1

    Introduction to Operationalisation of Shariah: Product, Documentation & Process

    • Course Overview

      Operationalisation of shariah is essentially the application of shariah principles, specifically in the field of Islamic finance.

    • Operationalisation of Diminishing Musharakah

      There are many conventional loans to choose from when buying a house. Purchasing a house under Islamic finance is also no different, albeit the need to adhere to Islamic financial principles.

    • Summary and Reflection for Week 1

      What have you learnt this week?

  • Week 2

    Operationalisation of Al-Ijarah Thumma Al-Bai (AITAB)

    • Al-Ijarah Thumma Al-Bai (AITAB)

      Al-Ijarah Thumma Al-Bai (AITAB), another Islamic Consumer Financing Products, is a unique Shariah-compliant financing method that seamlessly combines two contracts – Ijarah (leasing) and Al Bai (sale).

    • Summary and Reflection for Week 2

      What have you learnt this week?

  • Week 3

    Operationalisation of Commodity Murabahah

    • Personal Financing using Commodity Murabahah

      Personal financing is also a financing tool that has its own underlying shariah principles.

    • Summary and Reflection for Week 3

      What have you learnt this week?

  • Week 4

    Conclusion and Next Step

    • Challenges in Operationalisation of Shariah in Islamic Finance Products

      There are several challenges in operationalising shariah in Islamic finance

    • Course Recap

      A brief rundown of what was covered in the course

    • What's Ahead?

      What's in store for us when it comes to operationalising shariah?

    • Complete the Course

      Congratulations, you have completed the 4-week lessons. Next, in order to obtain the certificate of completion, you are required to take the course assessment. Details of the course assessment are provided on the next page.

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...

  • Identify Shariah-compliant contracts employed in Islamic deposit products
  • Describe the unique features, applications, and adherence to Shariah principles of financing products in Islamic banking
  • Discuss the legal frameworks and transactional documents prevalent in Islamic banking
  • Summarise the application of Shariah principles within the operational processes of Islamic banking

Who is the course for?

This course is designed for anyone wanting to adopt Shariah compliant practice in their work or personal finances.

It will be particularly useful for Shariah Committee members, policy-makers, board directors, and senior managers within the Islamic banking industry.

Who will you learn with?

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

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Ways to learn

Choose the best way to learn for you!

Subscribe & save

$244.99 for one whole 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 29 Mar 2024

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

Sale price available until 4 March 2024 at 23:59 (UTC). T&Cs apply.

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

Sale price available until 4 March 2024 at 23:59 (UTC). T&Cs apply.

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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