Fee Structure
| Master Diploma in Islamic Finance (MDIF) | ||
| Regular Fee | 35% Fee Scholarship Ends Soon | |
| Semester-I Fee | £ | £ 650 |
| Semester-II Fee | £ | £ 650 |
| Full MDPM Fee (in Installment) | £ | £ 1,300 |
| Full MDPM Fee (if Paid at Once) | £ | £ 1,100 |
| Note: *Discount packages are available for companies and groups. Contact for details. | ||
Fee Includes
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
MDIF diploma on completion of Semester-II
Eligibility Criteria
College diploma OR 2 years work experience
- Basic working knowledge of English
MDIF Coursework
Semester I
This foundational course explains the Islamic economic framework and the principles that shape production, distribution, and financial conduct. It introduces the causes of economic imbalance, the role of ethical wealth creation, and the core prohibitions that distinguish Islamic finance from conventional practice.
- Study the origins, principles, and structure of the Islamic economic system.
- Examine wealth production, ownership, and distribution within a Shariah framework.
- Understand prohibited elements such as Riba, Maysir, and Gharar.
- Review the principles of Fiqh-ul-Muamlaat and the laws of Shirkah in business and banking.
This course focuses on the main contractual structures used in Islamic banking and finance. It explains how Islamic financial products are designed, how they differ from interest-based products, and how AAOIFI-aligned principles guide their use.
- Study the principles and regulations of Islamic banking and finance.
- Learn the structure and application of Murabahah, Musharakah, Mudarabah, Ijarah, Salam, Istisna, and Diminishing Musharakah.
- Understand how Islamic instruments are used for personal, corporate, and government financing needs.
- Review diversification approaches within Shariah-compliant finance.
This course explores how Islamic finance operates in real commercial and investment environments. It covers banking products, trade finance, project funding, and capital market instruments used by Islamic financial institutions.
- Study Islamic financing for import, export, trade, projects, and working capital.
- Review Sukuk structures, features, and key types.
- Understand Shariah rules relating to shares, stock trading, and Islamic mutual funds.
- Examine additional contracts and applications such as Tawarruq, Muzara’ah, Kafalah, and Hawalah.
This accounting-focused course explains how Islamic financial institutions recognize, report, and audit financial activities within a Shariah-compliant framework. It is particularly valuable for professionals working in reporting, audit, compliance, and financial control.
- Study accounting principles relevant to Islamic financial institutions.
- Review reporting and auditing standards in Islamic finance.
- Develop understanding of investment models and their accounting treatment.
- Examine case-based applications of AAOIFI accounting standards.
The course introduces Islamic insurance and the operational structure of Takaful. It explains how risk sharing works in a Shariah-compliant environment and how Takaful differs from conventional insurance.
- Compare conventional insurance with Takaful principles and structures.
- Study General Takaful, Family Takaful, and Re-Takaful concepts.
- Understand key models, mechanisms, policy design, and governance considerations.
- Review AAOIFI-aligned treatment for Takaful and Re-Takaful accounting.
Semester II
This course examines the principles and structure of the Islamic macroeconomic system, including public finance, fiscal and monetary policy, inflation, taxation, international trade, economic planning and development, the role of the state, Islamic financial institutions, and the transition from conventional to Islamic economic and financial systems.
- Islamic Principles of the Government’s Role in the Economy
- Economic Development and Planning
- Planning for the Collective Social Order
- Allowances and Special Provisions in Islam
- Islamic Economic Principles for Individuals
- Fiscal Policy, Islamic Monetary Policy, and Bait-ul-Maal
- Inflation, Taxation, and Theory of Evaluation
- Public Expenditure and Aggregate Equilibrium
- Comparative Economic Systems at the Macroeconomic Level
This course explores advanced applications in Islamic finance, including investment banking, financial engineering, Sukuk, treasury and pool management, agricultural finance, Islamic credit cards, risk management, Shariah compliance, auditing, governance, and ethical standards for Islamic financial institutions.
- Designing Islamic Financial Products
- Venture Capital, IPOs, and After-Market Brokerage
- Development of Islamic Securities and Sukuk
- Islamic Financial Engineering
- Pool Management in Islamic Financial Institutions
- Islamic Agricultural Financing
- Islamic Credit Cards
- Conversion of Conventional Banks to Islamic Banking
- Risk Management for Islamic Financial Institutions
- Shariah Compliance in Islamic Financial Institutions
- Shariah-Based Auditing Rules and Standards
- Governance of Islamic Financial Institutions
The final project requires students to design a practical Islamic financial product by applying the knowledge and skills developed throughout the program. The project integrates Shariah principles with product structure, operational processes, accounting treatment, marketing strategy, and contract management.
Through this project, students demonstrate their ability to develop a Shariah-compliant financial solution for real-world application. The key areas of the Product Plan include:
- Development and Shariah structure of the Islamic financial product
- Product mechanism and operating flowchart
- Accounting procedures and treatment of the product
- Sales and marketing plan
- Rules for contract termination or cancellation.