Eligibility & Fee


Regular Fee 35% Fee Scholarship
till April 30th
Program Fee
Semester-I Fee £ 900 £ 585
Semester-II Fee £ 900 £ 585
MDIF Program Fee
(in 2 Installment)
£ 1,800 £ 1,170
MDIF Full Fee
(if Paid at Once)
£ 1,650 £ 1,050


  • One year unlimited access to MDIF e-Class

  • Interactive lectures, explaining complete MDIF curriculum

  • Access to comprehensive e-manuals for each course

  • 24/7 academic support by Islamic finance faculty

  • Access to Islamic Finance e-Library

  • 14 practice examinations as assignments

  • MDIF Examination Fee

  • Free CIB and CIFE certifications on completion of Semester-I

  • Free CTP certification and MDIF diploma on completion of Semester-II


To enroll in MDIF program, applicants must have:

  • College diploma OR 2 years work experience

  • Working knowledge of English



MDIF graduates also get following certificates on equivalency basis:

  • Certified Islamic Banker (CIB)

  • Certified Takaful Professional (CTP)

  • Certified Islamic Finance Expert (CIFE)

MDIF Curriculum


  • Causes of Economic Problems
  • Origins and Principles of Islamic Economics
  • Islamic vs other economic system
  • Means of Production and Distribution of Wealth
  • Overview and types of Riba, Maysir, Games of Chance, etc.
  • Islamic Principles for Transactions (Fiqh-Ul-Muamlaat)
  • Behaviour of Firm Under the Influence of Islamic Spirit  
  • Implementing Shirkah for Business & Banking Transactions
  • Principles and Regulations for Islamic banking and finance
  • Investment vehicle alternatives for Individuals, Corporate & Government
  • Engineering for the Diversification of Islamic Financing Methods
  • Framework and Types of Islamic Financial Contracts
  • Overview, Stages, Mechanism, Types, Applications, Islamic Banking Implementation and Case Studies of:
    Murabahah, Musharakah, Diminishing Musharakah, Mudarabah, Ijarah, Salam, and Istisna.
  • Islamic financing for Imports & Exports.
  • Financing Projects and working capitals.
  • Features, Structures & Types of Sukuk (Islamic Bonds)
  • Dealing in Shares and Islamic Mutual Funds
  • AAOIFI Shariah Rulings for IFIs.
  • Overview, Stages, Mechanism, Islamic Banking Implementation and Case Studies of:
    Salam, Istisna, Istijrar, Tawarruq (Monetization), Muzarat (Tenancy) , Kafalah (Guarantee), Hawalah (Assignment of Debt), and Hawalah.
  • Laws regarding Accounting for Islamic financial institutions
  • Financial Accounting and Financial Reporting
  • Designing Investments Models for IFIs
  • Securitization of Musharakah, Murabahah, and Ijarah.
  • AAOIFI Accounting Standards, Model Agreements and Accounting with Case Studies for:
    Murabahah, Mudarabah, Musharakah, Diminishing Musharakah, Salam, Istisna, Ijarah, and Investment Funds.
  • Overview of Conventional Insurance
  • Major Norms of the Takaful
  • Laws, System, and Types of Takaful
  • Wakala Model and Wakala-Waqf Model for Takaful
  • General Takaful Mechanism & Products.
  • Family Takaful Mechanism & Agreement.
  • Takaful Accounting and Policies.
  • Re-Takaful.
  • AAOIF Accounting & Shariah Standards.


  • Islamic Principles of the Government Role in Economy
  • Economic Development and Planning
  • Planning the collective social order
  • Allowances and Special Provisions in Islam
  • Islamic Principles about Individuals
  • Fiscal Policy, Islamic Monetary, and Bait-ul-Maal
  • Inflation, Taxation and Theory of Evaluation
  • Public Expenditures and Aggregate Equilibrium
  • Various Economic Systems at Macro Levels.
  • Designing of Islamic Financial Products
  • Venture Capital (VC), IPOS, and After-Market Brokerage
  • Development of Islamic Securities and Sukuk
  • Islamic Financial Engineering
  • Pool Management in IFIs
  • Islamic Agriculture Financing
  • Islamic Credit Cards
  • Conversion of Conventional Bank to Islamic Banking
  • Risk Management for IFIs
  • Shariah Compliance in IFIs
  • Shariah Based Auditing Rules & AAOIFI Standards
  • Governing of Islamic Financial Institutions.

You must design and implement an Islamic financial product at the end of the program. The project work will increase your knowledge and expand your abilities in the real world. Furthermore, you will prove to be a creative problem solver, and gain access to better opportunities. The following are the key areas in the Product Plan:

  • Development of Islamic financial products following Shariah law,
  • Product operating flowchart and mechanism,
  • Accounting procedures for treatment of product,
  • Sales and marketing plans, and,
  • Rules for termination or cancellation of the contract.

Accreditation !

AIMS is officially registered with the UKRLP and holds accreditation from CPD in the United Kingdom. The Master Diploma in Islamic Finance (MDIF) has equivalent worth to a Level-6 Diploma (Graduate Diploma), with more than 50 credits. MDIF follows the regulations set by Ofqual for the Regulated Qualifications Framework (RQF) as well as the Shariah Standards by AAOIFI. Individuals who possess the MDIF can use it as a stepping stone toward pursuing a Master’s Degree.

Clients & Participants