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The
Institute of Islamic Banking & Insurance
Awarded
Body
( Certificate) for this
course By
The Institute of Islamic
Banking & Insurance
(Britain)
POST GRADUATE DIPLOMA - Course
Overview
The
Post Graduate Diploma course in Islamic Banking and
Insurance is a course comprising of Six modules, offering
the opportunity to study and respond to questions which are
given at the end of each lesson. Each module builds up on
the knowledge of the previous one. The questions at the end
of each lesson are designed to test the understanding of the
basic concepts which have been explored within the lessons.
Details may be viewed in the Course Syllabus section. To
qualify for the Institute’s Post Graduate Diploma, a student
must successfully complete all the six modules.
The Post Graduate
Diploma assumes no previous knowledge of banking or finance.
Neither does it assume any previous knowledge of Islam. It
aims at building the knowledge of both Islam economics
principles and working knowledge of banking from the
beginning while also helping to understand how the broad
principles of Islamic finance, which can also be found in
other faiths, differ from conventional finance.
The Post Graduate
Diploma does not support any particular creed or promote
religious doctrine. For all purposes it aims at encouraging
the basis for the evolution and progression of Islamic
finance through the implementation of the universal
principles of socio-economic justice. Islamic finance is now
being practiced globally in many secular and non-secular
countries.
Islamic banking
and insurance is still in a development stage and new ideas,
products and solutions are continually emerging as a result
of research conducted by dedicated Shari’ah scholars,
economists, jurists, bankers and other professionals engaged
in Islamic finance in various part of the world. In the
light of the continuing research and development the
Institute may add or substitute topics/lessons in the course
and update the course content periodically.
Learning Outcome
The course has been developed to meet the present and
future staffing needs of the Islamic finance industry
globally. The course aims to equip persons with the
knowledge and understanding of the principles and practice
of Islamic banking and insurance.
Registration
To register
for the course, an applicant is required to apply through
CITC Sudan .
Entry Requirement
The basic entry requirement for the course is a
university degree and a good working knowledge of English.
However, applicants without a university degree but having
minimum three yeas professional experience in the relevant
field may be enrolled by the Institute at its discretion.
There is no upper age limit but persons below eighteen years
of age are not eligible.
Course Material
The Six
modules comprised in the course cover a total of 33 separate
lessons followed by questions where appropriate. The
Institute will mail the starter set on receipt of payment of
the course fee from it’s affiliate or partner institution..
The starter set
comprises of the first installment (module 1 in hard copy)
in a high quality hard binder which can be used to file all
the lessons and a letter to the student. It will also
include a glossary and a comprehensive bibliography on
Islamic banking and insurance and a list for recommended
reading.
Subsequent
modules with further lessons will normally be provided
after you have submitted the lessons of the previous module
until all six modules in the course are completed.
METHOD OF LEARNING
The course need
not interfere with the students existing work obligations.
However, to successfully complete the course while doing a
full time job requires drive and determination.
The students are
required to attend formal classroom lectures of 5 hours at
the end of each module to help them complete and
successfully pass their exams.
To qualify for
the post graduate diploma, a student must successfully
complete all the six modules. On successful completion of
the course the Institute will award its diploma and also
accept the student as a Member in the ASSOCIATE
FELLOW GRADE
Submission of Assignments
Study and Completion of Course
The course should be completed in 12 months however, the
minimum period is 6 months. If further extension is
requested then the Institute may agree to extend the period
at its discretion and/or upon payment of an appropriate
administration fee. An average of 20 hours a week is
recommended for study and submission plus the 5 hours of the
attendance at the end of each module (total of 30
hours).
Tutor Assessment and Support
There is no examination.
Progress is assessed throughout the course by a personal
tutor nominated by the Institute from answers submitted to
questions provided at the end of each lesson, where
appropriate. The tutor is also available to answer any
queries or provide clarification as well as any assistance
on matters relating to the course subjects and recommended
reading list.
POST GRADUATE DIPLOMA - Course Syllabus
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. An
introduction to the concepts of Islamic Economics.
Lesson 2. Divine Guidance for an Islamic Economy.
Lesson 3. Evolution of Islamic Interest-free Banking .
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.
Islamic Commercial Law & the Concepts, Principles and Forms
of Bai'(Trading)
Lesson 2.
Qard and Dayn in Islamic Commercial Law
Lesson 3. Musharakah and Mudarabah
Lesson 4. Diminishing Musharakah as a Financing Mode
Lesson 5. Credit Sales: Murabaha and Musawamah
Lesson 6. Future Sales: Salam and Istisna
Lesson 7. Ijarah (leasing) in Islamic Finance
Lesson 8. Accessory Contracts (Wakalah, Kafalah, Jua´lah,
Tawarruq. Istijrar)
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. An
outline of the conventional banking system
Lesson 2. Deposit/Resource Mobilisation by Islamic Banks
Lesson 3. Financing by Islamic Banks – Asset Side
Lesson 4. Islamic banks Services and Fee-based Operations
Lesson 5. Cooperation between Conventional and Islamic
financial Institutions
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
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.
Regulation, Supervision and Corporate Governance
Lesson 2. Shari'ah board, Compliance and related Supervisory
Issues
Lesson 3. Accounting and Taxation Issues in Islamic Banking
Lesson 4. Islamic Banks’ Financial Statements
Lesson 5. Practical steps for establishing an Islamic Bank
Lesson 6. Conversion of Interest-Based Banking to Islamic
Interest-Free Banking
Module 6 : Takaful - Alternative to Insurance
his
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, Objective, Basis and Principles of Takaful
Lesson 2. Basic Elements of Takaful
Lesson 3. Takaful Business Models and operational issues
Lesson 4. Family Takaful and Areas of Application
Lesson 5. General Takaful and Areas of Application
Lesson 6. Re-takaful or Reinsurance
Lesson 7. Regulatory Framework in the Takaful industry
