Diploma in Islamic Banking & Finance

This course consists of following units:

Unit 1 – Introduction to Islamic Banking & Finance

Gain a clear understanding of what Islamic banking and finance is, along with its core principles and ethical foundations rooted in Sharia law.

Unit 2 – History of Islamic Banking and Finance

Explore the origins and development of Islamic finance over time, and understand how traditional principles are applied in modern financial systems.

Unit 3 – The Philosophy of Islamic Finance

Learn the spiritual and moral values behind Islamic finance, which focuses on justice, fairness, and risk-sharing in all financial dealings.

Unit 4 – The Islamic Banking Model

Examine how Islamic banks operate without interest, using profit-sharing models and asset-backed financing to serve customers ethically.

Unit 5 – The Islamic Economic System

Discover how Islamic economics promotes social welfare, equitable wealth distribution, and ethical investment based on divine guidance.

Unit 6 – Islamic Law of Contract & Business Transactions

Understand the legal foundations of Islamic business contracts and how Sharia governs financial agreements and commercial practices.

Unit 7 – Islamic Finance – Products and Procedures

Learn about the wide range of Sharia-compliant financial products and procedures used by Islamic banks to serve individuals and businesses.

Unit 8 – Murabaha and Musawamah

Study two key Islamic financing techniques—Murabaha (cost-plus financing) and Musawamah (bargaining-based sales) and how they differ in practice.

Unit 9 – Salam and Istisna‘a’

Explore forward-financing methods where goods are sold in advance, with Salam used for agricultural products and Istisna‘a’ for manufacturing.

Unit 10 – Ijarah – Leasing

Understand how Islamic leasing (Ijarah) works as a Sharia-compliant alternative to interest-based loans for both individuals and businesses.

Unit 11 – Takaful

Learn about Takaful, the Islamic alternative to insurance, based on mutual cooperation, shared responsibility, and protection against risk.

Earning a Diploma in Islamic Banking & Finance opens the door to diverse career opportunities in the rapidly growing Islamic finance sector. Graduates can pursue roles such as Islamic finance officer, Sharia compliance analyst, investment advisor, or banking executive within Islamic banks, financial institutions, and insurance firms (Takaful). The diploma is also valuable for professionals working in regulatory bodies, consultancy firms, or multinational corporations seeking Sharia-compliant financial solutions. With increasing global demand, this qualification equips learners with specialised knowledge to build successful careers both locally and internationally in ethical and interest-free financial services.

This course has been accredited under ABC Awards Quality Licence Scheme by Brentwood Open Learning College Limited which has been approved as ABC Awards QLS centre to give formal recognition to courses. At the end of this course successful learners will be awarded a certificate of achievement by ABC Awards. The training courses have been designed specifically to meet the needs of learners who prefer to study from home. The course measurable learning outcomes have been benchmarked at Level 4 (using Ofqual's Qualification and Credit Framework (QCF) level descriptors) to allow you to consider the depth of study, difficulty, and level of achievement involved.

What are ABC Awards?

ABC Awards is a national awarding organisation that has years of experience in developing and awarding high quality vocational qualifications across a wide range of industries. They have a comprehensive portfolio of over 650 Ofqual regulated qualifications on the national Qualifications and Credit framework (QCF) for all ages and abilities post-14.