Islamic Banking And Finance – Level 1

Navigating Finance the Halal Way: Core Essentials of Islamic Banking & Economics.

This online course is accredited by CPD:

Islamic Banking And Finance – Level 1

About The Course

Islamic Banking and Finance – Level 1 aims to introduce students to core norms, modes, principles, basic models of Islamic banking and finance, and to the analysis of the relationship between Islamic and conventional banks. Composed of 14 online lectures, the course covers a range of topics, including the prohibition of Riba, Islamic financial contracts, Islamic capital market, Islamic microfinance models, Islamic insurance, and other contemporary issues related to Islamic finance.

The course will also address the real-world dilemmas related to banking loans, overdrafts, mortgages, insurance issues faced by Muslims while dealing with conventional banking. This entry-level course is suitable for both beginners and those with a good understanding of Islamic finance. A beginner will be given an overview of the basic functioning of finance in Shar’iah, and those with better knowledge of Islamic finance will be educated on the systematic approach to Shar’iah based finance. This foundational ideology will then be built further in level two and three of the course, where one, as an entry-level student, will develop a personal approach to Islamic finance and economics.

Course Team

Dr Shariq Nisar

Mufti Muhammad ibn Adam al-Kawthari

(Darul Iftaa, Leicester, UK )

Dr Shariq Nisar

Dr Shariq Nisar

(Co-Founder of TASIS (Taqwaa Advisory and Shariah Investment Solutions), Professor, Economist)

Dr. Mufti Muhammad Wasie Fasih Butt

Dr. Mufti Muhammad Wasie Fasih Butt

(Shariah compliance of corporate sector globally)

AT A GLANCE

14 Live Online Sessions

Duration: 4 Months

Sundays, 3:00PM - 4:00PM (London, UK)

Video Recordings Available

Access to Mobile App

Digital Certificate

u

Live Q & A

Enrol Now

Starts on 23rd February 2025

Course Fee:
Pay in Full :

Registration Deadline:
22nd February 2025

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Modules

MODULE

1

Islamic Economics – Key Principles

MODULE

2

Capitalism, Socialism, Communism And Islamic Economics System

MODULE

3

Islamic Contract And Valid Sale Agreement

MODULE

4

Conventional Banking System – An Overview

MODULE

5

Major Prohibitions And Key Principles

MODULE

6

Islamic Banking System – An Overview

MODULE

7

Introduction to Fintech and its relevance for Islamic Finance

MODULE

8

Islamic Stock/Share Market

MODULE

9

Islamic Micro Finance

MODULE

10

Islamic Modes of Finance – Key Sharia Principles

MODULE

11

Takaful: Islamic Insurance

MODULE

12

Sharia Board, Sharia Audit and Sharia Compliance

MODULE

13

Islamic Banking and Finance – Implementing A Robust Sharia Governance Framework in the West

MODULE

14

Cryptocurrency, NFT (Non Fungible- Tokens) and Islamic Rulings

Course Overview

This unique Islamic Banking and Finance course will provide you with a comprehensive understanding of the practical functionality of Shar’iah based finance. It is a must for both students and professionals who are engaged in the banking and finance industry and desire to understand pivotal Islamic financial principles and ideas. The course is further suitable for Ulama, Sharīʿa scholars, students of Ilm, and all those who have a keen interest in Islamic finance.

The course will provide one with a critical understanding of the way the Islamic banking and finance industry operates, as well as the necessary knowledge and skills that are required to work within the Shar'iah based Islamic framework. Moreover, it will allow students to explore both, classical approach to Islamic banking and finance, its structures and applicability to contemporary banking systems.

islamic banking and finance

Learning Objectives

This Course Aims To:

  • Identify and understand the Islamic financial contracts that exist in both the classical and modern Islamic banking and financial systems.
  • Understand the history of Islamic banking and the framework of the present financial market in light of Islamic standards and principles.
  • Comprehend and recognise the rationality behind Islamic rulings on various financial contracts.
  • Differentiate between Islamic banking, finance, and other conventional models.
  • Learn Shari’ah based principles, concepts and values in Islamic banking & finance, as well as other financial compliant products.
  • Analyse and apply the best Islamic banking principles and Shari’ah concepts in the context of the standard financial system.

Learning Outcomes

On Successful Completion Of The Course, The Students Will:

  • Become familiar with foundational Islamic banking and finance.
  • Distinguish between Islamic banking and conventional banking.
  • Gain insight into all facets of Islamic banking and finance, including the history of Islamic banking along with an understanding of Islamic economics.
  • Be equipped with the understanding of rationality behind Islamic rulings on various financial contracts
  • Identify Shari’ah based principles and Islamic values in Islamic finance.
  • Be able to analyse and apply the Islamic rulings in the context of Islamic banking and finance.

Explore Relevant Courses

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Frequently Asked Questions

Are Al Balagh courses recognised or accredited?

Al Balagh courses do not provide an externally accredited or recognised qualification. Our own expert team works at the course content. With over 52,000 + learners, we are continuously growing and our vision is to make Al Balagh qualifications renowned worldwide through our expert team, without seeking formal accreditation or recognition from external institutional bodies.
Al Balagh courses prioritize the development of knowledge and understanding within the Islamic tradition, delivered by a team of experienced instructors. While we currently focus on creating high-quality course content from our expert team, formal external accreditation is not currently pursued. Our commitment lies in fostering a vibrant learning community for our over 52,000+ students, and we continually strive to enhance the educational value of our qualifications.

How is this online course structured?

Our online course comprises live interactive online sessions, pre-recorded videos, online course material that include, presentations, reading material & online learning activities. Students may ask questions and get their doubts cleared from their respective lecturers, if any. Our dedicated academic support team will assist you as required.

The course utilizes a well-structured, weekly module format. Each module offers a variety of engaging materials (live sessions, videos, presentations, readings, activities) to cater to diverse learning styles. You can ask questions directly to instructors during live sessions, and a dedicated academic support team is available throughout the course.

When will I have access to the online course material?

Upon successful enrollment, you will get access to ILM Portal (our advanced online learning portal) within 24 hours. (login details and important contact information will be provided on your registered email address)

Following successful enrollment, you will be granted access to the Learning Management System i.e. https://ilm.albalaghacademy.org/ (our advanced online learning platform) within 24 hours. Your login credentials and other pertinent contact information will be sent to your registered email address.

Will I get notification for live sessions?

You will be able to view all course wise live session details including joining links on your ILM Portal calendar. Weekly email reminders are also sent out on your registered email address. If you find any difficulty with the link/calendar please contact us immediately via  Email: [email protected] or by Phone: +447946835578 . Our dedicated support team will ensure that your problem gets resolved at the earliest

To ensure your participation in live sessions, we provide multiple notification methods:

Learning Portal Calendar: A convenient feature of the ILM Portal is a calendar displaying all upcoming live sessions with their respective joining links.

Weekly Email Reminders: In addition, you will receive weekly emails to your registered address containing reminders and joining links for live sessions.

Should you require any assistance accessing live sessions, our dedicated support team is readily available to help. Feel free to contact them via Email: [email protected] or Phone: +447946835578.

Is it mandatory to attend live sessions?

Attending live sessions, while not mandatory for course progression, is strongly encouraged. Prominent scholars and educators highlight the unique value of live attendance, emphasizing its role in the authentic transfer of knowledge. Live participation fosters an interactive learning environment, allowing for real-time questions, discussions, and clarifications that are not as easily replicated through recorded materials. This live engagement is seen as essential for a deeper understanding and connection to the subject matter, echoing the tradition and Adab of scholarly learning.

While live sessions are not mandatory for course completion, they are highly recommended.
These sessions offer a unique opportunity to engage directly with instructors and fellow students. The interactive nature of live sessions allows for immediate clarification of questions and fosters a deeper understanding of the course material, reflecting the value traditionally placed on active learning in scholarship.

I missed a live session. Can I get the video recordings?

If you miss a live session, don't worry! You can access the recorded sessions, presentations, and relevant materials on your course dashboard within 24-48 hours after the live class is delivered. Our admin team uploads the content promptly so you can catch up on what you missed and be well-prepared for the next live class. Simply log in to the ILM Student portal and find the materials under the respective course section if you miss a scheduled live lecture.

In the event that you are unable to attend a live session, no need to worry. Recordings of the sessions, along with any accompanying presentations and relevant materials, will be made available on your course dashboard within 24-48 hours of the session's completion. The administrative team prioritizes the prompt uploading of these resources to ensure you can effectively catch up on missed content and remain prepared for subsequent sessions. To access these recordings, simply log in to the ILM Student portal and navigate to the designated section for your course.

Can I download the video recordings on my device (Desktop/Laptop/Mobile/Tab)?

We understand that having constant access to educational content is important for our students. However, to maintain the integrity and security of our course materials, videos are not available for download directly from the Learning Management System (LMS). We ensure that our LMS is accessible at all times and from various devices, allowing you to study at your convenience, wherever you have internet access. If you have any concerns about accessing the materials or need assistance with the LMS, please do not hesitate to contact our support team for help.

To ensure the continued quality and security of our course materials, video recordings are not downloadable directly from the Learning Management System (LMS). However, we understand the value of flexible learning, and our LMS is optimized for access across various devices (desktop, laptop, mobile, tablet) with an internet connection. This allows you to revisit course content at your convenience and continue your studies wherever you may be. Should you encounter any difficulties accessing materials or navigating the LMS, our dedicated support team is readily available to assist you.

I have doubts but I cannot attend the live session. Any other way to ask my questions?

For any doubts or discussions, join the dedicated Course WhatsApp Groups where you can engage with peers for question clarification and discussions. Course instructors may be part of these groups at their discretion. If you need to contact a specific instructor, please reach out to the Admin Team.

To facilitate in-depth learning and peer interaction, we offer dedicated Course WhatsApp Groups.  These groups provide a platform for you to engage with fellow students and clarify any questions that may arise during your studies. While course instructors may participate at their discretion, the primary focus is on fostering peer-to-peer learning and discussion.  Should you require individual assistance or wish to connect with a specific instructor directly, please don't hesitate to contact our supportive Admin Team.

How do I interact with my classmates?

You can interact with your classmates on our WhatsApp Groups exclusive for the course students. To join the official WhatsApp group, log in to your course on https://ilm.albalaghacademy.org/  and access the "Join Official WhatsApp Group'' tab. Go to Start → Sessions → Welcome Aboard: Course Introduction → Join Official WhatsApp Group 

Joining the group will allow you to connect with fellow course students for discussions and updates.

What is the process for reaching out to the instructor?

For inquiries about instructor contact information, please reach out to the course administrator directly. Instructor details will be shared only with their explicit consent. However, participants are encouraged to connect through group discussions.

( Please note, they often have demanding schedules and may not always be able to address individual queries. We encourage you to attend live sessions and utilize the Q&A period for questions. For queries post-lecture, feel free to contact our administrators, and we will do our best to assist. Responses from instructors will depend on their availability. Thank you for your understanding.)

When will the final exam be held?

The Final Exam will be held at the end of the course(approximately one month after the final live lecture of the course) and will be a Graded And Timed Exam.

How long will I have access to the online course(s)?
Access Duration for Paid Online Courses:

The availability of paid online course content varies based on program length:

  • Courses spanning 4-6 months (12-16 sessions): 1 year access
  • Courses spanning 9-12 months (24-30 sessions): 2 year access

Please note:  These access periods are applicable solely to paid online courses.

How can I apply for the Al Balagh Scholarship?

Al Balagh Academy values seekers of knowledge more than anything. Please visit here to apply for a scholarship. Our team will assess your application and respond in 2 - 3 working days.

What is the course grading policy?

Our course grading policy is designed to ensure a comprehensive understanding and mastery of the subject matter. To successfully pass, students are required to achieve a minimum grade of 40% across all courses. Here's how your performance will be evaluated:

  • Weekly Assessment Exams (60% of total points): Throughout the course, you will encounter approximately 5-6 online objective assessments aimed at testing your understanding and honing your skills. These weekly checkpoints are pivotal in tracking your progress and ensuring you're on the right path.
  • Course Final Exam (40% of total points): The culmination of your learning journey is marked by the course final exam. This decisive assessment evaluates your grasp of the entire course content.

Achieving a score of 40% or above is essential to pass the course. This balanced approach between regular assessments and a comprehensive final exam ensures that you not only retain information but also apply your knowledge effectively.

Course Assessment and Grading:
This course utilizes a grading system designed to evaluate your comprehension and application of the course material. To successfully complete the course, a minimum overall grade of 40% is required.

Evaluation Components:

  • Weekly Online Assessments (60%): Throughout the course, you will complete several online objective assessments (approximately 5-6). These weekly quizzes serve as checkpoints to gauge your understanding and identify areas that may require further study.
  • Course Final Exam (40%): A comprehensive final exam will assess your grasp of the entire course content.

Passing the Course:
A minimum score of 40% on all assessments is necessary to pass the course. This approach balances regular evaluations with a final exam, ensuring both knowledge retention and application.

When can I expect to receive my Certificate of Achievement?

Following successful course completion, you will be eligible to receive your digital certificate of achievement. To be eligible, you must meet the following criteria:

  • Completion of All Course Modules: Full engagement with all designated course materials, including readings, assignments, and assessments, is mandatory.
  • Attainment of the Minimum Passing Threshold: A minimum grade of 40% is required to qualify for the certificate of achievement.
Who do I contact if I still have doubts related to my courses?

For Course-Related Inquiries:
Should you encounter any questions or require assistance throughout your studies, our dedicated support team is readily available to assist you. Their primary objective is to facilitate your academic success.

📞 Admissions Team (Payment, Scholarships, Enrollment, or information about New Courses):

   - Email: [email protected]

   - WhatsApp (Admission): http://wa.me/447946835804

🚀 Short-Term Course Support (Assessment, Course-related, or IT-Technical issues):

   - Email: [email protected]

   - WhatsApp (Course Support): http://wa.me/447946835578

Please note: While the support team works diligently to address inquiries promptly, response times may vary.

Is there a mobile app for accessing my courses?

Maximize your learning flexibility with our newly updated mobile app! Enjoy seamless access to your courses anytime, anywhere. Click on the links below to download the app tailored to your device:

Dive into a world of convenient and accessible learning today!

Are Al Balagh courses recognised or accredited?

Al Balagh courses do not provide an externally accredited or recognised qualification. Our own expert team works at the course content. With over 52,000 + learners, we are continuously growing and our vision is to make Al Balagh qualifications renowned worldwide through our expert team, without seeking formal accreditation or recognition from external institutional bodies.
Al Balagh courses prioritize the development of knowledge and understanding within the Islamic tradition, delivered by a team of experienced instructors. While we currently focus on creating high-quality course content from our expert team, formal external accreditation is not currently pursued. Our commitment lies in fostering a vibrant learning community for our over 52,000+ students, and we continually strive to enhance the educational value of our qualifications.

How is this online course structured?

Our online course comprises live interactive online sessions, pre-recorded videos, online course material that include, presentations, reading material & online learning activities. Students may ask questions and get their doubts cleared from their respective lecturers, if any. Our dedicated academic support team will assist you as required.

The course utilizes a well-structured, weekly module format. Each module offers a variety of engaging materials (live sessions, videos, presentations, readings, activities) to cater to diverse learning styles. You can ask questions directly to instructors during live sessions, and a dedicated academic support team is available throughout the course.

When will I have access to the online course material?

Upon successful enrollment, you will get access to ILM Portal (our advanced online learning portal) within 24 hours. (login details and important contact information will be provided on your registered email address)

Following successful enrollment, you will be granted access to the Learning Management System i.e. https://ilm.albalaghacademy.org/ (our advanced online learning platform) within 24 hours. Your login credentials and other pertinent contact information will be sent to your registered email address.

Will I get notification for live sessions?

You will be able to view all course wise live session details including joining links on your ILM Portal calendar. Weekly email reminders are also sent out on your registered email address. If you find any difficulty with the link/calendar please contact us immediately via  Email: [email protected] or by Phone: +447946835578 . Our dedicated support team will ensure that your problem gets resolved at the earliest

To ensure your participation in live sessions, we provide multiple notification methods:

Learning Portal Calendar: A convenient feature of the ILM Portal is a calendar displaying all upcoming live sessions with their respective joining links.

Weekly Email Reminders: In addition, you will receive weekly emails to your registered address containing reminders and joining links for live sessions.

Should you require any assistance accessing live sessions, our dedicated support team is readily available to help. Feel free to contact them via Email: [email protected] or Phone: +447946835578.

Is it mandatory to attend live sessions?

Attending live sessions, while not mandatory for course progression, is strongly encouraged. Prominent scholars and educators highlight the unique value of live attendance, emphasizing its role in the authentic transfer of knowledge. Live participation fosters an interactive learning environment, allowing for real-time questions, discussions, and clarifications that are not as easily replicated through recorded materials. This live engagement is seen as essential for a deeper understanding and connection to the subject matter, echoing the tradition and Adab of scholarly learning.

While live sessions are not mandatory for course completion, they are highly recommended.
These sessions offer a unique opportunity to engage directly with instructors and fellow students. The interactive nature of live sessions allows for immediate clarification of questions and fosters a deeper understanding of the course material, reflecting the value traditionally placed on active learning in scholarship.

I missed a live session. Can I get the video recordings?

If you miss a live session, don't worry! You can access the recorded sessions, presentations, and relevant materials on your course dashboard within 24-48 hours after the live class is delivered. Our admin team uploads the content promptly so you can catch up on what you missed and be well-prepared for the next live class. Simply log in to the ILM Student portal and find the materials under the respective course section if you miss a scheduled live lecture.

In the event that you are unable to attend a live session, no need to worry. Recordings of the sessions, along with any accompanying presentations and relevant materials, will be made available on your course dashboard within 24-48 hours of the session's completion. The administrative team prioritizes the prompt uploading of these resources to ensure you can effectively catch up on missed content and remain prepared for subsequent sessions. To access these recordings, simply log in to the ILM Student portal and navigate to the designated section for your course.

Can I download the video recordings on my device (Desktop/Laptop/Mobile/Tab)?

We understand that having constant access to educational content is important for our students. However, to maintain the integrity and security of our course materials, videos are not available for download directly from the Learning Management System (LMS). We ensure that our LMS is accessible at all times and from various devices, allowing you to study at your convenience, wherever you have internet access. If you have any concerns about accessing the materials or need assistance with the LMS, please do not hesitate to contact our support team for help.

To ensure the continued quality and security of our course materials, video recordings are not downloadable directly from the Learning Management System (LMS). However, we understand the value of flexible learning, and our LMS is optimized for access across various devices (desktop, laptop, mobile, tablet) with an internet connection. This allows you to revisit course content at your convenience and continue your studies wherever you may be. Should you encounter any difficulties accessing materials or navigating the LMS, our dedicated support team is readily available to assist you.

I have doubts but I cannot attend the live session. Any other way to ask my questions?

For any doubts or discussions, join the dedicated Course WhatsApp Groups where you can engage with peers for question clarification and discussions. Course instructors may be part of these groups at their discretion. If you need to contact a specific instructor, please reach out to the Admin Team.

To facilitate in-depth learning and peer interaction, we offer dedicated Course WhatsApp Groups.  These groups provide a platform for you to engage with fellow students and clarify any questions that may arise during your studies. While course instructors may participate at their discretion, the primary focus is on fostering peer-to-peer learning and discussion.  Should you require individual assistance or wish to connect with a specific instructor directly, please don't hesitate to contact our supportive Admin Team.

How do I interact with my classmates?

You can interact with your classmates on our WhatsApp Groups exclusive for the course students. To join the official WhatsApp group, log in to your course on https://ilm.albalaghacademy.org/  and access the "Join Official WhatsApp Group'' tab. Go to Start → Sessions → Welcome Aboard: Course Introduction → Join Official WhatsApp Group 

Joining the group will allow you to connect with fellow course students for discussions and updates.

What is the process for reaching out to the instructor?

For inquiries about instructor contact information, please reach out to the course administrator directly. Instructor details will be shared only with their explicit consent. However, participants are encouraged to connect through group discussions.

( Please note, they often have demanding schedules and may not always be able to address individual queries. We encourage you to attend live sessions and utilize the Q&A period for questions. For queries post-lecture, feel free to contact our administrators, and we will do our best to assist. Responses from instructors will depend on their availability. Thank you for your understanding.)

When will the final exam be held?

The Final Exam will be held at the end of the course(approximately one month after the final live lecture of the course) and will be a Graded And Timed Exam.

How long will I have access to the online course(s)?
Access Duration for Paid Online Courses:

The availability of paid online course content varies based on program length:

  • Courses spanning 4-6 months (12-16 sessions): 1 year access
  • Courses spanning 9-12 months (24-30 sessions): 2 year access

Please note:  These access periods are applicable solely to paid online courses.

How can I apply for the Al Balagh Scholarship?

Al Balagh Academy values seekers of knowledge more than anything. Please visit here to apply for a scholarship. Our team will assess your application and respond in 2 - 3 working days.

What is the course grading policy?

Our course grading policy is designed to ensure a comprehensive understanding and mastery of the subject matter. To successfully pass, students are required to achieve a minimum grade of 40% across all courses. Here's how your performance will be evaluated:

  • Weekly Assessment Exams (60% of total points): Throughout the course, you will encounter approximately 5-6 online objective assessments aimed at testing your understanding and honing your skills. These weekly checkpoints are pivotal in tracking your progress and ensuring you're on the right path.
  • Course Final Exam (40% of total points): The culmination of your learning journey is marked by the course final exam. This decisive assessment evaluates your grasp of the entire course content.

Achieving a score of 40% or above is essential to pass the course. This balanced approach between regular assessments and a comprehensive final exam ensures that you not only retain information but also apply your knowledge effectively.

Course Assessment and Grading:
This course utilizes a grading system designed to evaluate your comprehension and application of the course material. To successfully complete the course, a minimum overall grade of 40% is required.

Evaluation Components:

  • Weekly Online Assessments (60%): Throughout the course, you will complete several online objective assessments (approximately 5-6). These weekly quizzes serve as checkpoints to gauge your understanding and identify areas that may require further study.
  • Course Final Exam (40%): A comprehensive final exam will assess your grasp of the entire course content.

Passing the Course:
A minimum score of 40% on all assessments is necessary to pass the course. This approach balances regular evaluations with a final exam, ensuring both knowledge retention and application.

When can I expect to receive my Certificate of Achievement?

Following successful course completion, you will be eligible to receive your digital certificate of achievement. To be eligible, you must meet the following criteria:

  • Completion of All Course Modules: Full engagement with all designated course materials, including readings, assignments, and assessments, is mandatory.
  • Attainment of the Minimum Passing Threshold: A minimum grade of 40% is required to qualify for the certificate of achievement.
Who do I contact if I still have doubts related to my courses?

For Course-Related Inquiries:
Should you encounter any questions or require assistance throughout your studies, our dedicated support team is readily available to assist you. Their primary objective is to facilitate your academic success.

📞 Admissions Team (Payment, Scholarships, Enrollment, or information about New Courses):

   - Email: [email protected]

   - WhatsApp (Admission): http://wa.me/447946835804

🚀 Short-Term Course Support (Assessment, Course-related, or IT-Technical issues):

   - Email: [email protected]

   - WhatsApp (Course Support): http://wa.me/447946835578

Please note: While the support team works diligently to address inquiries promptly, response times may vary.

Is there a mobile app for accessing my courses?

Maximize your learning flexibility with our newly updated mobile app! Enjoy seamless access to your courses anytime, anywhere. Click on the links below to download the app tailored to your device:

Dive into a world of convenient and accessible learning today!

Learn More About Our Courses?

Email us:  [email protected]

Need Help? Chat with us