Understanding Islamic Microfinance
Leverage Islamic microfinance principles and practices to promote ethical investments and enhance financial inclusion with INCEIF.
Duration
4 weeksWeekly study
1 hour100% online
How it works
Understanding Islamic Microfinance
Expand your understanding of Islamic finance to comply with Shariah law
If you’ve ever wondered if the world of finance was more than just profit-driven transactions, you’ve come to the right place.
On this flexible, four-week course from the International Center for Education in Islamic Finance (INCEIF) University, discover how Islamic microfinance integrates ethical principles with financial inclusion to empower communities and promote sustainable development.
In joining this Islamic microfinance-specific course, you’ll gain expert insights into providing ethical and equitable solutions that adhere to Shariah law.
Distinguish between conventional finance and Islamic microfinance
Begin this course by differentiating between conventional microfinance practices and Islamic microfinance.
You’ll gain a comprehensive insight into the foundational principles and practical applications of Islamic microfinance, how these differ from more traditional methods, and their benefits.
Explore various Islamic financial models, including Sadaqah and Zakat
Fill your financial toolkit with an understanding of Islamic microfinance models. Dive into the principles and applications of Sadaqah (voluntary charity), Zakat (obligatory almsgiving), and Murabahah (cost-plus financing), and see how these models contribute to economic justice and financial inclusion.
As you learn, you’ll grasp the real-world impact and effectiveness of Islamic microfinance through in-depth case studies and practical examples.
Learn more from the experts at INCEIF University
INCEIF University stands as a leader in Islamic finance education. Their team of experts will be there to guide you throughout this course, ensuring you gain the knowledge and skills needed to navigate complex financial transactions and advance your career.
Syllabus
Week 1
Introduction to Microfinance
Welcome to the Course!
Welcome to Understanding Islamic Microfinance, a course designed to equip you with the knowledge and skills to understand and implement Islamic microfinance principles effectively
Importance of Microfinance
When implemented effectively, microfinance can be a tool that can empower a whole nation, driving growth not only in economic terms, but also in terms of of social progress and overall human development.
Criticism on Microfinance
Having a balanced perspective will help you understand the complexities and limitations of microfinance in practice.
Week 2
Islamic Microfinance
Defining Islamic Microfinance
Although similar to its conventional counterpart, Islamic microfinance offers some nuanced differences that sets it apart.
Differentiating Islamic Microfinance
How different is Islamic microfinance compared to conventional microfinance?
Week 3
Different Models of Islamic Microfinance
Charity/Non-Profit Models
Explore how zakat (compulsory charity), sadaqah (voluntary charity), and waqf (endowment) is used to empower marginalized individuals and foster inclusive economic development in accordance with Islamic ethical principles
Market-Based/Profit Models
Examine the potential of Islamic finance instruments in empowering low-income entrepreneurs and drive economic development within the Islamic microfinance framework.
Composite Islamic Microfinance Model
Discover how Islamic microfinance can be a tool to alleviate poverty in different parts of the world.
Week 4
View from the Top?
Unveiling the Impact of Islamic Microfinance
Explore the transformative power of Islamic microfinance as we look at how Islamic microfinance institutions are fostering financial inclusion, alleviating poverty, and driving sustainable economic growth within Muslim communities
Course Recap
A brief rundown of what was covered in the course
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...
- Explain the basic premise of microfinance and its criticism
- Compare conventional and Islamic microfinance
- Describe the different models used in Islamic microfinance
- Discuss the case studies of Islamic micro finance in the different countries
Who is the course for?
This course is designed for anyone interested in deepening their understanding of Islamic financial practices, including banking professionals, accountants, financial advisers, consultants, bank customers, students, and the general public.
You don’t need to have an existing knowledge of finance to be able to complete this course, but if you want more context of Islamic finance and banking, we recommend you take another online course from INCEIF, such as their Understanding Islamic Banking for Businesses or Understanding Islamic Banking for Consumers.
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 | Buy this course | Subscribe & save | Limited access |
|---|---|---|---|
| Choose the best way to learn for you! | $79/one-off payment | $244.99 for a whole year Automatically renews | Free |
| Fulfill your current learning need | Develop skills to further your career | Sample the course materials | |
| Access to this course | tick | tick | Access expires 11 Feb 2025 |
| Access to 1,000+ courses | cross | tick | cross |
| Learn at your own pace | tick | tick | cross |
| Discuss your learning in comments | tick | tick | tick |
| Tests to check your learning | tick | tick | cross |
| Certificate when you're eligible | Printed and digital | Digital only | cross |
Cancel for free anytime |
Ways to learn
Choose the best way to learn for you!
Subscribe & save
$244.99 for a 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
$79/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 11 Feb 2025
Find out more about certificates, Unlimited or buying a course (Upgrades) Sale price available until 3 March 2025 at 23:59 (UTC). T&Cs apply. | |||
Find out more about certificates, Unlimited or buying a course (Upgrades)
Sale price available until 3 March 2025 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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