Master Diploma in Islamic Finance (MDIF)

Islamic finance is one of the world’s fastest-growing industries, with more than 2,000 Islamic financial institutions (IFIs) operating across Muslim and non-Muslim countries. Every year, IFIs demand over 20,000 skilled professionals with expertise in Islamic finance applications. AIMS’ internationally accredited Master Diploma in Islamic Finance (MDIF) is designed to meet this growing market need. Our postgraduate diploma in Islamic Banking and Finance is job-oriented, globally recognized, AAOIFI-compliant, and 100% online, making it ideal for professionals seeking higher career prospects.

Leading scholars and practitioners developed AIMS’ Islamic finance diploma, and it does not require any prior education or experience. It prepares experienced professionals with an in-depth understanding of Shariah laws, Islamic financial systems, and consultancy practices. Students acquire versatile skills for both employment and consultancy roles in the expanding Islamic finance sector.

diploma Islamic banking and finance

MDIF Learning & Skills Objectives!

Through AIMS’ internationally accredited Postgraduate Diploma in Islamic Banking and Finance, graduates develop the following skills:

  • Design, Implement, and Manage Islamic Commercial and Investment Banking Products and Services.

  • Apply Financial Engineering, Manage Risk Effectively, and follow AAOIFI Auditing Guidelines for IFIs.

  • Master Islamic Economics, Islamic Microeconomics, and AAOIFI Shariah Rulings.

  • Implement Contractual Mechanisms and AAOIFI Accounting Standards for Islamic Finance Products and Services.

  • Design and Implement Islamic Finance Products through Real-World Project.

  • Develop and Manage General and Family Takaful (Islamic Insurance) Products and Services.

Level-6 Post Graduate Diploma in Islamic Banking and Finance

AIMS is officially registered with the UKRLP and holds international accreditation. The Master Diploma in Islamic Finance (MDIF) is equivalent to the Level-6 Islamic Finance diploma and fully complies with the AAOIFI Shariah Standards. Our postgraduate diploma in Islamic Banking and Finance awards 27 credit hours, which can be transferred towards a Master’s or PhD in Islamic Finance.

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Registered in UK with UKRLP

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Globally Accredited by QAHE

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CPD Accredited in the UK

A rated highed education

Rated “A” for Academic Excellence

Islamic Finance Diploma: A Quick Review

Study Mode100% Online Education through Self-paced learning.
Estimated Duration4-5 months.
Study ResourcesInteractive online lectures.
Comprehensive study manual for every course.
24/7 Educational support by leading scholars.
Online Islamic Banking and Finance Library.
14 online Assignments for progress monitoring.
Real World Project to excel in practical skills.
BonusCIB and CIFE certifications upon completion of Semester I.
MDIF diploma on completion of Semester II.
Number of CoursesEight courses, divided into two semesters.
Study Requirements10 to 12 hours of study in a week.
Certificates IncludedCertified Islamic Banker (CIB),
Certified Takaful Professional (CTP),
Certified Islamic Finance Expert (CIFE), and,
Master Diploma in Islamic Finance (MDIF).

Our Islamic Finance Programs

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How to Earn the Master Diploma in Islamic Finance (MDIF)?

AIMS’ Master Diploma in Islamic Finance (MDIF) begins with fundamental concepts, so no prior experience or education in Islamic Finance is required. The postgraduate diploma in Islamic banking and finance comprises seven theoretical courses and one practical project. The study materials designed for these courses are enriched with real-world practical examples and case studies. Students complete two online assignments per course and enhance their practical skills through a real-world project. Assignments and the final exam are MCQ-based and scheduled online at the students’ convenience. Here are the three simple steps to earn the pg diploma in Islamic banking and finance:

  • Complete the online enrollment form to register for the post graduate diploma in Islamic finance and banking.
  • After submitting the online form and fee, you’ll receive access to the online portal within 24 to 48 hours.

MDIF students are required to study seven theory courses and complete one final project. Students can access the learning materials at any time, from anywhere. For each Islamic finance diploma course, AIMS provides:

  • Highly interactive lectures that make complex topics easy to understand. Our online lectures are enriched with practical examples from the Islamic finance industry and real-world case studies.
  • Comprehensive study manuals that clearly explain concepts and connect theory with real-life Islamic finance scenarios.
  • Full email support from Islamic finance faculty experts.
  • Access to the Islamic finance library.

Students are required to submit two MCQ-type assignments per course (10 in Semester I, 4 in Semester II).

  • After completing the first 5 courses and 10 assignments, students request the Semester I exam. Upon passing Semester I, they are awarded the Certified Islamic Finance Expert (CIFE) and Certified Islamic Banker (CIB) certifications.
  • In Semester II, complete 4 assignments for two courses and complete a real-world Islamic Finance project. (e.g., designing a product for an Islamic bank or Takaful firm).
  • After project submission, students request the Semester II exam.
  • All assignments and exams are MCQ-type, and students may schedule them at their convenience.
  • A minimum score of 65% is required to pass. All students who follow our learning methodology pass the exam on their first attempt.
  • Upon successful completion, receive the Certified Takaful Professional (CTP) certification and the Master Diploma in Islamic Finance (MDIF).
post graduate diploma in islamic banking and finance

MDIF Program Structure

The Master Diploma in Islamic Finance (MDIF) program consists of 8 courses, divided into two semesters. Here is the program structure of AIMS’ postgraduate diploma in Islamic banking and finance:

  • After Completing Semester 2, students earn the Certified Takaful Professional (CTP) and Master Diploma in Islamic Finance (MDIF).

diploma in Islamic banking

Islamic Finance Diploma Curriculum Overview!

Semester I of the Master Diploma in Islamic Finance covers the following areas:

  • Principles and origins of the Islamic economic system.
  • Shariah prohibited elements such as Riba, Maysir, and Gharar.
  • Shariah-compliant transactions (Fiqh-Ul-Muamlaat).
  • Islamic financial instruments, including Murabahah, Musharakah, Salam, Istisna, and Ijarah.
  • Shariah-compliant investment and commercial banking systems.
  • Sukuk (Islamic Bonds) and Project Financing products.
  • AAOIFI Shariah and Accounting standards
  • Takaful (Islamic Insurance) – system, products, and services.

Semester II of AIMS’ diploma in Islamic banking and finance covers advanced areas of Islamic finance and a real-world project. It includes a detailed study of:

  • Islamic Microeconomics.
  • Islamic Economic Planning.
  • Fiscal policy, Islamic monetary policy, and Bait-Ul-Maal.
  • Advanced Islamic financial services and product design.
  • Development of Islamic securities and Sukuk.
  • Risk management in Islamic banking and finance.
  • AAOIFI Shariah standards and accounting standards for IFIs.
  • Conversion from a conventional to an Islamic bank.
  • A real-world project that requires students to design and implement an Islamic financial product.

Find out more about the detailed MDIF course outline and take advantage of our 35% fee scholarship.

Islamic finance diploma
diploma in islamic finance and banking

Hear from Our Global Learners!

“I earned my MDIF from AIMS, and it far exceeded my expectations. Throughout my postgraduate diploma in Islamic banking and finance studies, I experienced a truly unique learning approach. AIMS’ training methodology combines both theoretical knowledge and practical applications seamlessly. I appreciated the flexibility to complete my studies at my own pace, which made the learning experience stress-free yet effective. The assignments provided at the end of each module were particularly valuable in reinforcing key concepts. I highly recommend this Islamic banking diploma to anyone aiming to build a high-value, rewarding career in Islamic finance.”

Dr. Hajer Zarrouk Ouafi, Lecturer, Emirates College of Technology, UAE.

“My experience with AIMS’ diploma in Islamic banking and finance has been truly exceptional. The course materials are comprehensive, well-organized, and cover all essential topics in depth. I was particularly impressed by the additional resources—such as presentations, articles, and books—that allowed me to explore each area of study far beyond the core curriculum. I can confidently apply theory in real-world financial environments. Communication with AIMS has been outstanding. The team is always responsive, professional, and genuinely dedicated to supporting students.”

Małgorzata Berłowska, Product Manager, Digital Bank, Saudi Arabia

“AIMS has truly transformed my career with its diploma in Islamic banking and finance. The flexible program structure allowed me to balance work and study seamlessly. After graduating, I feel confident in my knowledge and skills, fully prepared to advance in the Islamic finance industry. I highly recommend AIMS to anyone seeking a thorough, practical, and convenient learning experience.”

Aisha Khan, USA

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    Key Benefits of AIMS’ Islamic Finance Diploma

    • Globally Recognized Qualification

      The postgraduate diploma in Islamic Banking and Finance from the AIMS Institute for Islamic Banking and Finance has enjoyed an outstanding reputation since 2008. Our graduates hold leading roles in Islamic banks, Takaful companies, and other Islamic financial institutions worldwide.

    • Leads to Higher Education

      After successfully finishing Semester I, students earn the prestigious Certified Islamic Banker (CIB) and Certified Islamic Finance Expert (CIFE) certifications. Upon completing Semester II, they are awarded the Certified Takaful Professional (CTP) certification and the Master Diploma in Islamic Finance (MDIF). Graduates with a post graduate diploma in Islamic banking and finance are also eligible to transfer 27 credits towards a Master’s degree in Islamic Finance.

    • Develop Real World Expertise

      Students enrolled in our diploma in Islamic finance and banking must complete a hands-on project to strengthen their real-world skills. The practical Islamic finance project enables them to understand the design and implementation of Islamic banking products and services.

    • MDIF Salary Outlook

      Here’s a closer look at the attractive salary prospects after completing a post graduate diploma in Islamic banking and finance from AIMS:

        Mid-Level Manager Salary
      		$110,000 – $160,000
        Senior Manager/Director Salary
      		$180,000 – $300,000

    Frequently Asked Questions

    This diploma in Islamic banking and finance is ideal for individuals seeking specialization in Shariah-compliant finance. Whether you’re already part of the Islamic financial services industry or looking to enter it, the AIMS’ Islamic finance diploma equips you with practical skills and internationally respected credentials.

    The MDIF is particularly suitable for:

    • Bankers & Investment Professionals – Looking to specialize in Islamic products and services.
    • Insurance & Takaful Experts – Expanding into Shariah-compliant risk management.
    • Finance Regulators & Legal Advisors – Needing a deep understanding of AAOIFI and Shariah standards.
    • Asset Managers & Financial Consultants – Enhancing service offerings with ethical finance expertise.
    • Academicians & Researchers – Pursuing advanced study or teaching in Islamic economics.
    • Graduates & Job Seekers – Building a high-demand career in Islamic banking and finance.
    • Entrepreneurs & Business Owners – Launching or growing ventures aligned with Islamic financial principles.

    Graduates of AIMS’ postgraduate diploma in Islamic banking and finance are well-positioned for diverse and rewarding roles in the global Islamic finance industry. Some of the prominent career paths include:

    • Product Development Manager in Islamic financial institutions.
    • Director of Islamic Investment and Financial Consulting.
    • Shariah Advisor (for those with an Islamic Studies or Shariah background).
    • Islamic Financial Analyst in financial institutions.
    • Islamic Financial Advisor or Financial Manager at IFIs.
    • Senior Manager or Analyst at Islamic banks or Takaful companies.
    • Legal Counsel for Islamic financial institutions (for those with a law degree).
    • Lecturer or Professor in Islamic finance at academic institutions.
    • Islamic Finance Consultant for conventional banks willing to enter the Shariah-compliant market.

    The Master Diploma in Islamic Finance (MDIF) not only broadens career horizons but also enhances credibility and opens doors to strategic and leadership roles within the Islamic finance sector.

    Yes, AIMS is offering a 35% fee scholarship in addition to our already subsidized fees, making quality education more accessible. This scholarship is part of our commitment to providing an affordable path for individuals aiming to enhance their careers in Islamic banking and finance.

    The duration of the diploma in Islamic finance and banking depends on the time and effort you dedicate to your studies. On average, students complete the program in 4 to 5 months. Since the MDIF program is flexible, you can progress at your own pace and easily balance your Islamic finance diploma studies with work or other commitments.

    AIMS’ Master Diploma in Islamic Finance (MDIF) offers several distinctive features that make it a top choice for students pursuing a career in Islamic banking and finance:

    • Globally accredited: AIMS’ diploma in Islamic banking and finance is internationally recognized, and it ensures that your qualification is recognized globally.
    • Flexible learning: Study at your own pace, from anywhere, without compromising on quality or depth of knowledge.
    • Career growth: The postgraduate diploma in Islamic banking and finance is designed to help you climb the career ladder in the Islamic finance industry.
    • Increased earning potential: The Master Diploma in Islamic Finance (MDIF) opens doors to higher-paying jobs in the IFIs, worldwide.
    • Additional certifications: Based on the coursework completed during the MDIF, graduates earn the Certified Islamic Banker (CIB), Certified Islamic Finance Expert (CIFE), and Certified Takaful Professional (CTP) certifications.
    • Credit transfer opportunities: Upon completion, MDIF graduates can transfer 27 credits towards an MBA or PhD, furthering their academic and professional journey.

    These features make the diploma in Islamic banking and finance one of the best choices for anyone looking to excel in the Islamic banking and finance field.

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