Post Graduate Diploma in Islamic Banking and Insurance
Module 1 : Islamic Economics & Finance
This module provides an introduction to the concepts of Islamic economics and Divine Guidance in Islam for the development of an interest-free economy based on the principles of socio-economic justice.
Lesson 1. Introduction to Islamic Economics
Lesson 2. Divine Guidance for a Moral Economy
Lesson 3. Evolution of Islamic Interest-free Banking
Lesson 4. Moral Failures and Financial Crises
Module 2 : Islamic Commercial Law & Contract
This module explains the Islamic principles and the modes used in financing and contracts, such as Qard, Dayn, Musharakah, Mudarabah, Ijarah, Wakalah, Kafalah, Hawalah, Jua'lah and Tawarruq
Lesson 1. Early Contracts, Rules of Sales(Bai) and Evolution of Islamic Commercial Law
Lesson 2. Concept and Rules of Loan (Qard) and Debt (Dayn)
Lesson 3. Concept of Partnerships: (Shirkah) Musharakah, and Mudarabah
Lesson 4. Diminishing Musharakah
Lesson 5. Credit Sales: Murabaha and Musawamah, Commodity Murabaha (Tawarruq)
Lesson 6. Foward Sales: Salam and Istisna'a
Lesson 7. Leasing: Ijarah as Financing Modes
Lesson 8. Accessory Contracts and Hibah (Wakalah, Jua´lah, Tawarruq, Kafalah, Rahn, Hawalah, Istijrar, Amanah, Wadiah, Hibah)
Lesson 9. Objectives of Islamic Law (Maqasid al Shari'ah)
Module 3 : Islamic Banking Operations
This module provides an introduction to the conventional banking system and goes on to deal with the key operations of Islamic banks and co-operation between conventional and Islamic financial Institutions.
Lesson 1. Outline of the Conventional Banking System
Lesson 2. Deposit and Resource Mobilisation by Islamic Banks (Liability Side)
Lesson 3. Financing by Islamic Banks (Asset Side)
Lesson 4. Islamic Banks Services and Fee-based Operations
Lesson 5. Cooperation between Conventional and Islamic Banks
Module 4 : Treasury and Capital Market Operations
This module deals with the Islamic Financial Markets, scope and instruments. It also discusses the concepts of venture capital, investment funds, units trusts, securitisation and sukuk in accordance with Islamic principles.
Lesson 1. Islamic Financial Markets and Instruments
Lesson 2. Venture Capital under the Islamic Financial System
Lesson 3. Islamic Funds and Unit Trusts
Lesson 4. Securitisation and Sukuk
Module 5 : Regulation, Supervision and Corporate Governance and Financial Accounting of Islamic Banks
This modules deals with governance and transparency issues in Islamic financial institutions, supervisory and regulatory issues, the role of the Religious Board, Shari'ah compliance audit, accounting and taxation issues. Its also provides guidelines for conversion of Interest-Based Banking to Islamic Interest-Free Banking and the practical steps for establishing an Islamic bank
Lesson 1. Corporate Governance, Regulation and Supervision
Lesson 2. Shari'ah board, Compliance and related Supervisory Issues
Lesson 3. Financial Accounting and Taxation Issues
Lesson 4. Financial Statements of Islamic Banks
Lesson 5. Practical steps for Establishing an Islamic Bank
Lesson 6. Conversion of Interest-Based Banking to Islamic Interest-Free Banking
Module 6 : Takaful - Islamic Insurance
This module explains Takaful and its rationale as an alternative to conventional insurance, the basic elements and models for takaful business and Re-takaful (Reinsurance)
Lesson 1. Concept, Objectives, Basis of Takaful
Lesson 2. Basic Elements and Operating Principles
Lesson 3. Business Models of Takaful
Lesson 4. Family Takaful Business
Lesson 5. General Takaful Business
Lesson 6. Retakaful or Reinsurance
Lesson 7. Corporate Governance, Regulation and Supervision of Takaful