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Post Graduate Diploma in Islamic Banking and Insurance


The Post Graduate Diploma of IIBI is  equivalent to Level 7 of  the National Qualifications Framework of England, Wales and Northern Ireland of the United Kingdom.
The course is aimed at providing a deeper understanding of both Islamic banking and Islamic insurance (takaful) and is intended for graduates. The course discusses the concepts of Islamic finance and prohibitions in-depth and also the application of these concepts in the real world of finance. The prohibitions have broad implications in structuring contracts dealing with financial transactions including investments in line with the rules and processes laid down by the Shari'ah and are equally applicable to contracts of insurance. Students will also develop analytical skills and discuss the causes of failures of financial regulation and policies. The course comprises of 39 lessons structured around eight modules. On completion of the course students will be awarded the Post Graduate Diploma in Islamic Banking and Insurance by IIBI.

At the end of the course you will be able to:
  • Understand the fundamental concepts of Islamic economics
  • Know the importance of the Moral Code in Islam for the development of an interest-free economy to promote socio-economic justice in society
  • Describe the principles underlying Islamic commercial contracts
  • Know their applications as investment modes (Musharakah, Mudarabah)
  • Know their applications as financing modes (Ijarah, Murabaha, Salam, Istisna'a)
  • Understand the concept and application of accessory contracts such as Wakalah, Kafalah, Hawalah, Jua'lah, Tawarruq.
  • Explain the key operations of Islamic banks and the scope for co-operation between conventional and Islamic financial institutions
  • Examine the Islamic financial markets, scope and instruments including the operations of venture capital, investment funds, units trusts and sukuk in accordance with Islamic principles
  • Discuss the governance and transparency issues in Islamic financial institutions
  • Understand the role of supervision and regulation with particular emphasis on the role of the Religious Supervisory Board, Shari'ah compliance audit, accounting and taxation issues
  • Describe the procedure to convert interest-based banking institutions to interest-free Islamic banking ones and the practical steps required for establishing an Islamic bank.
  • Explain Takaful and its rationale as an alternative to conventional insurance
  • Describe the basic elements and operating models for undertaking takaful business and Re-takaful (Reinsurance)
  • Describe the issues in Takaful relating to Governance and Shari'ah supervision 
The course is open for all individuals across the world. The minimum criterion for doing any course is good knowledge of English. The post-graduate level will be valuable for those already holding a professional qualification (including a qualification in accounting, finance, or related professions) who is employed in banks or other firms in the financial sector. The Post Graduate Diploma is also suitable for graduates of any discipline with no previous knowledge of finance and who, for professional or personal reasons; wish to secure a stand-alone qualification in Islamic banking and insurance. It is also ideal for those who wish to undertake post-graduate work and whose first degree is in an unrelated field.
Entry Requirement and Enrolment
Entry Requirement
Applicants will need to have completed their graduation (equivalent of UK university bachelor degree) from a recognised university and have a good working knowledge of the English language.
Applicant should be at least 18 years old at the time of submitting the application.
Applicants who do not have a university degree but have a minimum of three years work experience in a senior position in the field of banking or insurance may be accepted on to the course. The decision of the Institute will be final.

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 how to proceed further in order to start the course

Markfield Institute of Higher Education, UK     

The Markfield Institute of Higher Education (MIHE) in U.K. will admit holders of IIBI Post Graduate Diploma in Islamic Banking and Insurance to the MA Degree in Islamic Banking, Finance and Management (MAIBFM) awarded by the Newman University, Birmingham, United Kingdom.

 Candidates will have to take the following modules (105 credits in total) to complete their Masters programme:

 · Dissertation (60 credits)

 · Foundation of Islamic Economics (15 credits)

 · International Management (15 credits)

 · Research Methodology (15 credits)


For more information please call +44 153024492 or email:

To view full syllabus ...... click here
  • IIBI will only allow exemptions on the basis of qualifications awarded by recognised institutions, including institutions with whom IIBI has an arrangement.
  • IIBI is not able to confirm eligibility for exemptions until an applicants has applied to be registered as a IIBI student.
  • You must send official proof of any relevant qualifications which are held, or are currently being studied for, with your application form, in order for IIBI to assess your eligibility and confirm any entitlement for exemptions.
  • Academic transcripts should also be submitted for any qualification upon which you wish to claim exemption.
  • Any documentation which is not in English must be officially translated before submission.
  • Students may be required to pay an exemption fee for each exemption allowed.
The course is based on the “distance learning” method convenient for home study and at any place or time when other commitments will allow. After you have been accepted on your chosen course you will be given access to the IIBI Virtual Learning Envoirnment… here
Assessment and Examination 
There are questions provided at the end of each lesson. The answers to the questions provided are required to be submitted via the IIBI Virtual Learning Environment for evaluation by the tutor assigned to the students … more... click here
The course should be completed in 12 months. An average of 20 hours a week is recommended for study and undertaking assignments.
The course fee is £1,350.00
Reduce course fee of £750.00 until 31st December, 2017

The fee covers the cost of registration, course material, and tutor support; there are no other costs or hidden charges.

A reduced fee may be applicable where a student is residing in IIBI classification of developing countries and subject to the students providing proof of permanent residence. The applicable course fee and other relevant information will be advised on receipt of the completed application form and after it has been accepted. The Institute's decision is final. 

Payment of Course Fee

The course fee is payable in one lump sum and there is no financial assistance or scholarship available from the Institute.

Payment may be made online by PayPal, bank draft or bank transfer. Full details and the procedure for making payment will be advised after the application is accepted by the Institute.

Course Fee Changes
If you have been accepted for enrolment onto a course and payment of the fee has not been made within the time specified in the acceptance email, then you will have to pay the prevailing fee on the date of payment if you wish to still take up that course.
If you change your mind after enrolment and do wish to proceed with the course you will need to 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, by email with ‘Cancellation of Enrolment' and your 'Registration Number' on the subject line and stating the reason for not wishing to proceed with the course.

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 provided you have not accessed any lessons. Refunds will be applied to the original credit card or by the original form of payment.
Cancellation by IIBI
IIBI reserve the right to cancel any course when absolutely necessary. In the event that IIBI cancels a course, the limit of liability will be the return of fee already paid by the student or offer a transfer of enrolment to another course, and refunding the difference in the fee of the new course, if applicable 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
You may eligible transfer to another course at IIBI and received refund of any difference in the fee, if applicable.
How to Apply
IIBI operates on a rolling admissions basis. This means that you can apply for and be admitted to, our courses all year round.  

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