Understanding Islamic Banking for Consumers
Get a consumer’s guide to Islamic banking and discover Shariah-compliant financial products, solutions, and services.
Duration
5 weeksWeekly study
1 hour100% online
How it works
Understanding Islamic Banking for Consumers
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.
Ways to learn | Buy this course | Subscribe & save | Limited access |
|---|---|---|---|
| Choose the best way to learn for you! | $134/one-off payment | $244.99 for one 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 22 Jun 2024 |
| 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 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 22 Jun 2024
Find out more about certificates, Unlimited or buying a course (Upgrades) Sale price available until 3 June 2024 at 23:59 (UTC). T&Cs apply. | |||
Find out more about certificates, Unlimited or buying a course (Upgrades)
Sale price available until 3 June 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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