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Certificate in Takaful
 
 
The Certificate in Takaful (Islamic Insurance) of IIBI is  equivalent to Level 3 of  the National Qualifications Framework of England, Wales and Northern Ireland of the United Kingdom.
 
The course is aimed at individuals wishing to develop an understanding of the nature and basis of takaful (literally, meaning ‘solidarity') as an alterative to conventional insurance. Insurance plays a vital role in society supporting both national and international economic development and growth. The development of Islamic finance, however, has created the need for an acceptable alternative to conventional insurance that meets the requirements of Shari'ah. Takaful has successfully proven to be the alternative to insurance and the takaful industry has the potential of becoming larger than the Islamic banking industry. The course consists of 13 lessons structured around four modules. On completion of the course students will be awarded the Certificate in Takaful by IIBI, London UK.

At the end of the course you should be able to:
  • Understand the concept of risk, peril and hazard
  • Explain Insurance as a method of handling risk
  • Differentiate between pure risk (which is insurable) and speculative risk (which is uninsurable)
  • Understand the important requirements of an insurable risk
  • Explain the burden of risk on society.
  • Understand the origin of risk
  • Explain the concept of insurance and how it is not the same as gambling and speculation
  • Explain the basic characteristics of insurance
  • Explain the nature of cooperative insurance and similarities with takaful
  • Understand the benefits of insurance to society
  • Explain the basis legal principles of insurance
  • Explain the general rules of agency
  • Explain the requirements and distinct characteristics of the insurance contract
  • Understand the types of insurers and types of insurance
  • Explain the important functions in insurance company operations
  • Explain the concepts of underwriting and reinsurance
  • Understand the character of takaful and the Shari'ah principles application to transactions
  • Explain the concept of takaful, its operating principles and business models
  • Understand the important contracts and concepts that are adopted in takaful
  • Understand the need for takaful and additional benefits it offers to society
  • Explain the nature of Family Takaful and General takaful
  • Explain the need for retakaful and the contract of retakaful
  • Understand the regulation of insurance business
  • Understand the corporate and regulatory framework of takaful
  • Understand some of the financial issues relating to takaful
 
 
The course is open for all individuals across the world. The minimum criterion for doing any course is a good knowledge of English. The course is designed for persons wishing to pursue a careerin Islamic insuranceandfor those serving in the industry in their career progression. The course will also benefit those working in the banking industry wish to learn the fundamentals of Islamic insurance and its operations
 
 
 
  • There is no formal requirement.
  • Applicant should be at least 18 years old at the time of submitting the application.
  • Applicant must have a high level of competency in all aspects of English.
  • Application will be refused if an applicant does not meet the desired level of English and enrolment may be cancelled at any time.
  • A letter from a referee may be requested after an application is submitted, if deemed necessary  

Enrolment
Provided applicants meet the Entry Requirement, they must first complete and send the Application Form. On receipt, the form will be reviewed and when approved, the applicant will be advised suitably
 
 
Course Syllabus
To view full syllabus ......  click here
 
 
Mode of Study and Tutor Support
The course is based on the “distance learning” method convenient for home study and correspondence by e-mail. One module at a time will be sent and the next module will only be sent after the previous module has been assessed by the assigned tutor… more click here
 

Assessment and Examination
The course assessment method is a combination of assignments based on the questions at the end of each lesson. The answers to the questions provided are required to be submitted to the assigned tutor (by e-mail) for evaluation (copied to IIBI) … more click here

The course should be completed in 6 months. An average of 12 hours a week is recommended for study and submitting assignments.
 
The course fee is £ 225.00.

The fee covers the cost of registration, course study material, tutor support and one time examination fee where applicable.

Payment of Course Fee
Payment may be made online by Paypal, credit card, bank draft or bank transfer. Full details and the procedure for making payment will only be advised to you after your application is accepted by the Institute.

 
Course Fee Changes
If you have enrolled onto a course and have not made payment of the fee during a specified time as mentioned in the enrolment letter, you will have to pay the revised fee after the lapse of specified time in order to take up that course.
 
 
Cancellation and Refund Policy
Cancellation
If you change your mind after enrolment and do wish to proceed with the course you must advise IIBI to cancel your enrolment within 14 days of the date of the enrolment confirmation sent to you. For this to apply, a request must be received by IIBI within the 14 day period, either by email, post, fax or delivered in person with ‘Cancellation of Enrolment' and your 'Registration Number' on the subject line and advising the reason for not wishing to proceed with the course.

Note: If course materials have already been sent to the student; these must be returned before the refund is paid.
 
Refunds
The course fee paid will be refunded in full less an administration charge (plus bank charges) for cancellation requests received within the 14 days period and you have not accessed any lessons. Refunds will be applied to the original credit card or by the original form of payment.
 
I f you have commenced your course, no refunds will be given. IIBI cannot accept responsibility for changes to work commitments or personal circumstances within this 14 days cancellation period.
   
In a situation where a student wishes to change their enrolment, and as a measure of goodwill, IIBI will allow the following options. A student may only take up one of these options once if the student has not yet submitted any assignments. The request must be made in writing (not by telephone), within a period of 30 days following enrolment for special consideration and explaining why the student wants to change the enrolment.
  • Transfer to another course. The request must be made in writing (not by telephone), explaining why the student wants to change the enrolment. An administration fee of £50 will apply.
  • Transfer their enrolment to a friend, relative or colleague who they have found, and who agrees to take over the enrolment. An administration fee of £75.
Cancellation by IIBI
IIBI reserve the right to cancel courses when absolutely necessary. In the event that IIBI cancels a course, the limit of liability will be the return of fees already paid by the student or offer a transfer of enrolment to another course, without fees or refunding the difference less an administration charge
.
 
 
 
Students who find themselves unable to complete the course within the allotted time may request for an extension (or continuous extensions) in order to complete the course. Student should submit a request to the Institute before completion date of the course. Extension of time is solely at the discretion of the Institute. Exceptional circumstances will be considered.
 
Course Extension Fee
The course extension fee includes an administration charge and will depend on the extension of time
 
Extension Period
 
Extension
  Fee
Administration
Charge
Total Amount
to be paid
3 Months
£30
£50
£80
6 Months
£60
£50
£110
 
 

Tr ansferrin g to another course
If you would like to transfer your course fee to a different course that may be offered by the Institute, you are able to do so without penalty after notifying us within 14 days of entrolment, a transfer fee will apply.
 
Candidates who apply directly to Institute through the online application system will receive the quickest possible response for their application.

The Institute operates on a rolling admissions basis. This means that candidates apply for, and are admitted to, our programmes all year round.


 


 

 

 

 

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