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Diploma in Islamic Banking

The Diploma in Islamic Banking of IIBI is  equivalent to Level 5 of  the National Qualifications Framework of England, Wales and Northern Ireland of the United Kingdom
The course is aimed mainly at students and professionals who are seeking to have more than a basic understanding of the concepts and operating principles that apply to different types of Islamic banking in comparison to conventional banking. Applying Islamic principles in banking in modern markets poses serious challenges for Islamic banks.The course also provides an overview on Islamic insurance termed as takaful. The course assumes no previous knowledge of banking. Neither does it assume any previous knowledge of Islam. The emphasis is on practical implementation of Islamic finance principles in the real world of finance. The course consists of 23 lessons structured around five modules. The questions at the end of each lesson are designed to test the understanding of the basic concepts and their practical applications which have been explored within the lessons. On completion of the course students will be awarded the Diploma in Islamic Banking by IIBI, London UK.

At the end of the course you will be able to:
  • Explain the main features of the various economic theories
  • Discuss the role of money in society and its history
  • Examine the principles of Islamic economic theory
  • Analyse the main sources of Islamic commercial law
  • Examine the background and nature of the basic prohibitions in Islamic economic framework
  • Explain how Islamic economics operates in a mixed legal system
  • Identify and explain the essential elements of contracts in Islamic economic framework
  • Discuss the emphasis placed on the fulfilment of contracts in the Islamic economic system
  • Examine the elements of accounting within a Shari’ah-compliant economic framework
  • Describe the participatory, non-participatory and accessory modes
  • Examine the types of retail banking, corporate banking and investment banking services offered by Islamic banks
  • Analyse treasury and interbank operations within an Islamic bank
  • Explain the need for correspondent banking services needed by Islamic banks from conventional banks and the basis of such cooperation
  • Explain the need for responsible supervision of banking industry
  • Examine the unique role of the Shari'ah scholars in the supervision of Islamic banks and ensuring the fulfilment of their social obligations
  • Demonstrate an understanding of the concept of risk, its importance and how risk can be identified and managed in Islamic banks
  • Explain the concept of conventional insurance  
  • Explain the basis of takaful as an insurance scheme for mutual help and shared responsibility along with its operating features
  • Describe the re-insurance and the differences between takaful and conventional insurance
The course is open for all individuals across the world. The minimum criterion for doing any course of the Institute is good knowledge of English. The course is designed for persons wishing to pursue a career in Islamic banking or also for those serving in the industry in their career progression. The course will also benefit those who wish to learn the fundamentals of Islamic banking and finance and their applications.
  • Two "A" Level passes plus four GCSE passes at Grade A, B or C
  • Applicant should be at least 18 years old at the time of submitting the application.
  • Overseas qualifications which may be accepted by the Registrar as being equivalent to the above
  • IIBI also welcomes applications from candidates without formal qualifications who have been in employment for at least two years in the banking or a related sector in an appropriate role. A reference letter from employer(s) must accompany such applications
  • Certificate in Islamic Finance issued by Chartered Institute for Securities & Investment (CISI)
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… here

Assessment and Exams
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 9 months. An average of 10 hours a week is recommended for study and submitting assignments.
The course fee is £ 525.00.
Reduce course fee of £375.00 until 31st December, 2017

The fee covers the cost of registration, course material, and tutor support; there are no other costs or hidden charges.
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
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.
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
    F ee
Total Amount
to be paid
3 Months
6 Months
9 Months
Transferring 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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