Understanding Islamic Banking for Consumers
Get a consumer’s guide to Islamic banking and discover Shariah-compliant financial products, solutions, and services.
Duration
5 weeksWeekly study
1 hour100% online
How it works
Understanding Islamic Banking for Consumers
Understand the dynamic Islamic banking industry today
Whether you are a customer or a professional, understanding consumers’ needs is essential for banking. Moreover, in the rapidly changing financial landscape of today, we also need to keep up with the evolution of banking services and solutions.
This five-week course from INCEIF University provides an overview of Islamic banking from a consumer’s perspective. Designed to provide essential knowledge for both customers and professionals, the course covers key rules, principles, and practices for Shariah-compliant banking.
Understand consumers’ needs and products and services available to them
After an introduction to the legal and ethical framework of Shariah Law, you’ll take a closer look at consumer needs and services.
You’ll learn what consumers expect from financing solutions today, and how Islamic banking solutions and services are meeting those needs. You’ll also review new financial technologies and their implications for Shariah Law.
Gain an introduction to credit, risk analysis, and due diligence
In Weeks 4 and 5 of the course, you’ll examine key Shariah-compliant financial processes, including credit, risk analysis, and due diligence. You’ll learn what differentiates Islamic financial products and processes, and how these can protect consumer interests.
With the expertise you gain over the five weeks of the course, you’ll be equipped to make more informed financial decisions as either a consumer or a banking professional.
Syllabus
Week 1
Introduction to Structuring Financial Requirement and Solutions for Consumers
Do you know what your customers want?
Are your customers looking for Islamic financing solutions? How can you provide the solutions your customers need?
Worldview Of Islam
This topic covers Islamic worldview that is relevant to Islamic financial transactions.
Regulatory Requirement and Governing Legal Framework
A look into the regulatory requirement and governing legal framework for Islamic financial institutions.
Week 2
Understanding Customers' Needs
Introduction to Financing Requirements of Consumers
Do you understand what the consumers are looking for when it comes to financial products and services?
Week 3
Islamic Banking Products and Services for Consumers
Basic Functions of Islamic Banks
Do Islamic banks function the same way as conventional banks? What are the similarities and differences between the two banking systems?
Islamic Banking Solutions and Services
There are many Islamic banking solutions and services that cater to the needs of the consumers. This section delves into the different products and services as well as the related underlying shariah principles.
Week 4
Introduction to Credit/Financing Process
Introduction to Credit or Financing Process
Explore the the fundamental concepts and principles that underpin the world of credit and financing.
Week 5
Introduction to Risk Analysis and Due Diligence
Risk Analysis
Gain a better understanding on risk analysis and due diligence in Islamic financing. Also covered in this week is credit scoring and how credit score factors in the overall risk analysis process.
Credit Scoring
Do you know how credit score can influence financing? Learn more in this topic.
Conclusion and Next Step
A summary of the course highlighting the key takeaways as well as an assessment of your learning journey.
When would you like to start?
Start straight away and join a global classroom of learners. If the course hasn’t started yet you’ll see the future date listed below.
Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Discuss how the Worldview of Islam, Maqasid Al Shariah, and Regulatory Requirements and Governing Legal Framework shape the principles and methodologies behind crafting tailored financial solutions within an Islamic framework
- Identify the diverse financial needs of individuals across different lifecycles and lifestyles, enabling them to tailor financial solutions effectively to meet the unique requirements of various types of personal customers
- Describe the basic functions of Islamic banks and the diverse range of Shariah-compliant financial products and services available
- Describe fundamental principles guiding credit and financing decisions, the methodologies employed in the financing decision process, and the intersection of Shariah principles and legal frameworks in financing activities
- Discuss affordability analyses for term financing, applying principles of credit and financing to consumer contexts, understanding credit scoring methodologies, and interpreting credit scoring examples
Who is the course for?
This course is designed for anyone interested in gaining a deeper understanding of Islamic banking from a consumer’s perspective.
This will include banking professionals, accountants, financial advisers, consultants, bank customers, students, and the general public.
Who will you learn with?
E-Learning Instructional Designer | INCEIF University | 15+ years experience in Instructional Design | E-Learning | Learning Content Development
https://www.linkedin.com/in/umihanim/
Who developed the course?
INCEIF
INCEIF is considered to be the knowledge leader in Islamic finance through providing excellent teaching, research and thought leadership.
Ways to learn | Buy this course | Subscribe & save | Limited access |
|---|---|---|---|
| Choose the best way to learn for you! | $134/one-off payment | $27.99 For the first two months. Automatically renews | Free |
| Fulfill your current learning need | Develop skills to further your career | Sample the course materials | |
| Access to this course | tick | tick | Access expires 10 Jun 2024 |
| Access to 1,000+ courses | cross | tick | cross |
| Learn at your own pace | tick | tick | cross |
| Discuss your learning in comments | tick | tick | tick |
| Tests to check your learning | tick | tick | cross |
| Certificate when you're eligible | Printed and digital | Digital only | cross |
Cancel for free anytime |
Ways to learn
Choose the best way to learn for you!
Subscribe & save
$27.99
For the first two months. Automatically renews
Develop skills to further your career
- Access to this course
- Access to 1,000+ courses
- Learn at your own pace
- Discuss your learning in comments
- Tests to boost your learning
- Digital certificate when you're eligible
Cancel for free anytime
Buy this course
$134/one-off payment
Fulfill your current learning need
- Access to this course
- Learn at your own pace
- Discuss your learning in comments
- Tests to boost your learning
- Printed and digital certificate when you’re eligible
Limited access
Free
Sample the course materials
- Access expires 10 Jun 2024
Find out more about certificates, Unlimited or buying a course (Upgrades) Sale price available until 5 May 2024 at 23:59 (UTC). T&Cs apply. | |||
Find out more about certificates, Unlimited or buying a course (Upgrades)
Sale price available until 5 May 2024 at 23:59 (UTC). T&Cs apply.
Learning on FutureLearn
Your learning, your rules
- Courses are split into weeks, activities, and steps to help you keep track of your learning
- Learn through a mix of bite-sized videos, long- and short-form articles, audio, and practical activities
- Stay motivated by using the Progress page to keep track of your step completion and assessment scores
Join a global classroom
- Experience the power of social learning, and get inspired by an international network of learners
- Share ideas with your peers and course educators on every step of the course
- Join the conversation by reading, @ing, liking, bookmarking, and replying to comments from others
Map your progress
- As you work through the course, use notifications and the Progress page to guide your learning
- Whenever you’re ready, mark each step as complete, you’re in control
- Complete 90% of course steps and all of the assessments to earn your certificate
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