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# AIMS Education: AIMS Education – Globally Accredited and Internationally Recognized Educational Institution

Since 2005, Academy for International Modern Studies (AIMS) has delivered internationally accredited, globally recognized online education for professionals worldwide. AIMS Education specialize in Islamic Banking & Finance, Supply Chain Management, and Project Management, offering qualifications from professional certificates and Master Diplomas to MBAs and PhDs.

AIMS' 100% online, flexible, and industry-focused courses are designed and facilitated by by experienced professionals, and provide both academic knowledge and practical skills for skills advancement and career growth. 

AIMS Education's graduates, representing over 178 countries, work in top-tier organizations, multinational corporations, NGOs, and government institutions worldwide.

Departments and Educational Programs Offered by AIMS:

Institute of Islamic Banking & Finance offers:
o	Certified Islamic Banker (CIB)
o	Certified Islamic Finance Expert (CIFE)
o	Master Diploma in Islamic Finance (MDIF)
o	MBA in Islamic Banking & Finance
o	PhD in Islamic Banking & Finance

Institute of Supply Chain Management offers:
o	Certified Supply and Logistics Professional (CSLP)
o	Certified Supply Chain Expert (CSCE)
o	Master Diploma in Supply Chain Management (MDSCM)
o	MBA in Supply Chain Management
o	PhD in Supply Chain Management

Project Management Academy offers:
o	Certified Project Manager (CPM)
o	Certified Project Management Expert (CPME)
o	Master Diploma in Project Management (MDPM)
o	MBA in Project Management
o	PhD in Project Management

Why Choose AIMS?
- Accredited internationally and in the UK with global recognition.
- Highly interactive learning system, that develops practical skills. 
- Self-paced online learning system for busy professionals globally.
- Affordable tuition and Scholarships.
- Comprehensive Study Manuals for each course, Interactive Lectures explains each topic with examples, real-world case studies, project based learning, and online Faculty Support by Professors and Professional Experts. 
- Practical learning, with main focus on skills growth and career development.

## Sitemaps
[XML Sitemap](https://aims.education/sitemap_index.xml): Includes all crawlable and indexable pages.

## Posts
- [Logistics Network Design: Meaning, Process, Optimization, 3 Models & Examples](https://aims.education/logistics-network-design-meaning-process-models/): Logistics network design is the decision-making process used to configure the physical and operational structure of a logistics system. It answers a very direct question: where should logistics activities happen so that customer service is achieved at the best total cost?
- [Project Portfolio Management: Process, Types, Tools & Examples](https://aims.education/project-portfolio-management-process-roles-tools/): Project Portfolio Management is the discipline of selecting, prioritizing, balancing, governing, and reviewing projects, programs, subsidiary portfolios, and related operations so they collectively support strategic objectives. It helps organizations move beyond doing projects well toward choosing the right work, funding it wisely, and adjusting decisions when strategy, risk, capacity, or value changes.
- [What is a Program Manager? Roles, Responsibilities, and Strategic Value](https://aims.education/what-is-a-program-manager-role-and-responsibilities/): Readers often ask what is a program manager because the role connects strategy with delivery. In program management, the work is not only to supervise tasks, but to align related projects, coordinate stakeholders, manage dependencies, and ensure that the organization receives measurable benefits.
- [Ju’alah (Jualah) – Meaning, Definition, Rules, Examples & Applications in Islamic Banking and Finance](https://aims.education/what-is-jualah-islamic-finance/): Jualah (Juala or جعالة) is an Islamic reward based contract in which one party promises a specified reward to whoever achieves a defined result. In practical terms, it works like a lawful promise of payment for successful performance, not payment merely for effort. This makes Ju’alah important in Islamic finance, especially where the result is known but the exact amount of work, time, or method cannot be fully specified in advance.
- [What is Earned Value in Project Management? Formulas, Examples & Best Practices](https://aims.education/what-is-earned-value-in-project-management/): As a key analytical tool, earned value management transforms data into insight, helping teams interpret earned value in project management to determine whether work is on track, behind, or exceeding expectations.
- [Supply Chain Manager Job Description, Resume, Interview Questions & Salary Overview](https://aims.education/supply-chain-manager-job-description-resume-salary/): A Supply Chain Manager supervises all supply chain activities including procurement, logistics, and warehousing. Supply Chain Manager job description includes developing and implementing strategies that can improve efficiency, minimize costs, and mitigate risks in supply chains. Additionally, supply chain manager collaborate with different departments and stakeholders in order to align supply chain goals with the organization’s overall business objectives.
- [What is Hiba (هبة) in Muslim Law? Conditions, Types & Applications](https://aims.education/what-is-hiba-in-muslim-law-rules-types-examples/): A Hiba (هبة) is an Arabic term that means “gift”, and it is also synonymous with ‘Atiyya (عطية). Hiba in Muslim Law refers to the voluntary transfer of ownership of assets or wealth (whether movable or immovable) from one individual to another without any expectation of compensation (ʿiwāḍ or عِوَض).
- [What is Kafalah? Types, Applications & Rules for Islamic Banking](https://aims.education/what-is-kafalah-and-applications-in-islamic-banking/): Kafalah or “الكفالة” originated from the Arabic root word "Kafi", which means "surety," "guarantee," or "support." Kafalah in Islamic banking and finance provides a formal guarantee, commonly used to safeguard obligations in financial dealings. Kafalah contract serves not only to shield Islamic banks from default risk, where the bank may benefit from the assurance. But it also protects third parties from potential losses arising from a customer’s failure to meet financial obligations, where the bank or a third party acts as a guarantor.
- [What is Supply Chain Automation? Solutions, Benefits & Future](https://aims.education/what-is-supply-chain-automation-solutions-future/): Supply chain automation is a process which uses machine learning, artificial intelligence (AI), and other digital technologies to perform supply chain activities with minimal or no human intervention. Automation in supply chain operations can take various forms; for example, Internet of Things (IoT) tools can automate physical processes on the manufacturing shop floor. Similarly, robotic process automation in supply chain and intelligent document processing are used to automate digital workflows in both production and back-office functions.
- [What is Logistic Regression? Formula, Model & Equation with Example](https://aims.education/what-is-logistic-regression-model-formula-example/): Logistic regression, also known as the logit model, is a statistical method used to predict one of the two possible outcomes (such as yes or no) when the dependent variable is binary (typically coded as 0 or 1). It models the relationship between one or more independent variables (which can be nominal, ordinal, interval, or ratio-level) and the binary outcome.
- [8 Key Principles of Consumption in Islam](https://aims.education/the-principles-of-consumption-in-islam/): Consumption, in Islamic terminology, refers to the act of using goods and services to satisfy human needs and desires. Consumption in Islamic economics is a central activity that comes after production and distribution. It does not consist solely of eating and drinking; it also refers to purchasing and benefiting from resources like housing, clothing, and transportation. Principles of consumption in Islam are derived from Shariah guidelines, which encourage balance in spending and avoidance of excess utilization. These principles advocate satisfying one's own, family, and community needs while allocating resources towards constructive purposes; proper consumption fosters physical, social, and spiritual well-being while creating a balance between material success and moral responsibility.
- [What is KPI in Project Management? 32 Essential KPIs](https://aims.education/what-is-kpi-in-project-management/): Key Performance Indicators, or KPI in project management, are a set of quantitative metrics used by a company to evaluate and compare performance in achieving operational and strategic objectives. Project management KPI may vary depending on the company's or industry's specific goals. They are measurement tools that indicate how effectively teams are meeting defined objectives.
- [Types of Supply Chains: Management and Development Stages](https://aims.education/types-of-supply-chains-and-how-to-desgin-them/): Therefore, different types of supply chains are designed to ensure end-to-end efficiency and customer satisfaction.
- [Ariyah in Islamic Jurisprudence and Finance](https://aims.education/ariyah-in-islamic-jurisprudence-and-finance/): Ariyah is an Arabic term that refers to the lending of non-fungible objects for a gratuitous purpose. In classical Islamic jurisprudence, Ariyah (also spelled Aariyat) is defined as making another person the owner of the benefit of something without compensation. This includes lending items such as tools, utensils, clothing, jewelry, or animals for temporary use. The key distinction is that the borrower is expected to return the same item after use and not something similar or its value, unlike in monetary loans (Qard).
- [14 Key Principles of Business in Islam – Rules for Running an Islamic Business](https://aims.education/key-principles-of-business-in-islam/): Fair dealing, mutual consent, and transparency are core principles of business in Islam, as highlighted in the following verses of the Quran and Hadith:
- [What is Supply Chain Finance? and How Does it Work?](https://aims.education/what-is-supply-chain-finance-and-its-solutions/): Supply chain finance, also termed reverse factoring or supplier finance, is a collection of technology-based financing solutions businesses use to heighten cash flow and urge collaboration between supplier and buyer. It aims to reduce financing costs and enhance business competence for sellers and buyers in sales transactions. Supply chain finance procedures based on automatic transactions and tracking invoice consent and payment clearance, from start to end.
- [Critical Path Project Management: Method & Example](https://aims.education/what-is-critical-path-project-management-method/): Critical path project management is a sophisticated method that is used to plan, schedule, determine the order of tasks, and estimate the extended time required to finish a project from beginning to end. The critical path provides an exact duration for the project's completion. Tasks are categorized as either critical or non-critical in critical path project management. Critical tasks must be finished on time because delays would impact the project's overall time frame. Meanwhile, non-critical tasks are less likely to create delays and offer greater flexibility. For projects with various interconnected tasks, the critical path assists project managers in identifying bottlenecks and allocating resources.
- [What is Hawala? Mechanism & Role of Hawalah in Islamic Finance](https://aims.education/hawala-definition-features-and-applications/): In Arabic, the term ḥawala or حوالہ refers to "transfer" or "trust", and it is an informal way of transferring funds where no actual cash is interchanged. The origin of hawala dates back over 1,600 years to the Middle East and South Asia. Merchants developed the hawala system as a secure and efficient way to transfer money across long distances without physically moving cash. In Islamic banking and finance, Hawalah (حِوالة) refers to the transfer of debt liability from one party to another. A Sharia-compliant financial contract allows a debtor to shift their obligation to a third party, who then becomes responsible for paying the creditor.
- [Demand Analyst Supply Chain](https://aims.education/what-is-demand-analyst-supply-chain-and-job-roles/): Demand analyst supply chain, also known as supply-demand analysts, specialize in foreseeing and scrutinizing market demands through data and statistical analysis systems. In supply chain management, they associate product accessibility with customer demands. This includes collaboration with the marketing and production team and making strategic decisions. They provide smooth and easy supply chain strategies for companies and ensure on-time delivery of products at reduced cost.
- [Capital in Islam – What to Produce? & How to Produce?](https://aims.education/concept-of-capital-in-islam/): Capital in Islam is a “third factor of production” or “produced means of production.” It refers to a set of acquired consuming values spent to generate more of the same values. For example, wealth is utilized in such a way as to attain more wealth, through a Halal means of investment or business or trade. Generally speaking, all goods that are not produced for immediate consumption but for future production are considered capital. These goods may include tools, machines, irrigation projects (such as canals and dams), transport equipment, raw material stocks, money invested in business, etc.
- [How to Start a Logistics Business? 14-Steps Comprehensive Guide](https://aims.education/how-to-start-a-logistics-business-or-company/): Logistics Business provides services that include transportation, warehousing, and distribution of goods. This ensures the smooth functioning of the supply chain and supports the supply of goods, storage, inventory management, courier services, etc. A logistics company is integral to many businesses, and creating a well-organized logistics network helps minimize total cost and delivery time, making the company's operations much more cost-effective and efficient. This leads to increased profits and market share of your logistics business.
- [What is Engineering Project Manager? Roles, Skills & Salary](https://aims.education/engineering-project-manager-roles-skills-and-salary/): An engineering project manager is a person who directs and evaluates the routine operations of an engineering team, and oversees the development of engineering projects from start to finish. The engineering project manager reviews the project process where manufacturers, designers, and engineers work together on a project. They assess proposals, ensure proper execution, and supervise technical specifications, budgeting, cost analysis, and project timelines to meet quality standards.
- [Network Diagram Project Management – 4 Key Elements & Their Function](https://aims.education/what-is-network-diagram-project-management/): A network diagram project management is a graphical illustration showing the logical and chronological relationships between various project activities, exemplifying the sequence of activities, the critical path, and dependencies to help plan and ensure success in project execution. A project management network diagram helps project managers ascertain the sequence of activity occurrences and identify the critical path.
- [Project Management Triangle: Importance, Types & Benefits](https://aims.education/what-is-project-management-triangle/): The project management triangle, also termed the triple constraints of project management, visualizes the relationship between the three variables: time, scope, and budget. These project management triple constraints determine the quality of the project. The higher the value of the project management triangle, the better the quality of the project. If one is disturbed, the other two must be modified to maintain the triangle's connection or balance among them.
- [Supply Chain Technology](https://aims.education/supply-chain-technology-impact-types-and-future/): Technology is tremendous in reshaping the supply chain strategies in the business world by enhancing efficiency, streamlining operations, predictive analysis, and sharing real-time data. Technology is not considered a luxury these days but a prerequisite for businesses and industries to be a part of this competitive world. Supply chain technology is now an essential means of coordinating logistics, inventory management, suppliers, and demand forecasting. The transformation of a traditional to a digital supply chain is a fundamental shift in businesses, allowing them to manage their operations efficiently in minimum response time. For example:
- [Gantt Chart in Project Management](https://aims.education/what-is-gantt-chart-project-management/): A Gantt chart project management is a time-scaled bar chart used to plan, schedule, and track tasks throughout a project. It visually represents the duration of each task with bars, showing the time required to complete them, along with resource allocation and availability over the project timeline. Gantt chart project management helps all team members know what to focus on and when. Primarily, it is used as an internal project control document for the project team and stakeholders. All the calculations, evaluations, and forecasting about the project were done through this project control schedule or Gantt chart.
- [Amanah – Meaning, Types, Importance, Examples & Role in Islamic Finance](https://aims.education/what-is-amanah-in-islam/): “Amanah” (امانة) originates from an Arabic word that means trust or loyalty. The root word of Amana is “Iman,” which means belief or faith, and it mentions its importance in the Islamic religion and its connection with Allah in dealings. In Islamic banking and finance, Amanah refers to a transaction when a person gives something (such as property or other asset) to another person or an institution on the basis of trust, when the other party promises to do something.
- [International Logistics Management](https://aims.education/what-is-international-logistics-management/): International logistics management refers to strategizing, coordinating, and supervising all logistics operations necessary for ensuring the successful exchange of goods and services on a global scale. Its objectives are to guarantee a seamless supply chain management from the origin to the ultimate destination, considering factors such as customs regulations, transportation, legal requirements, and warehousing. International logistics management encompasses tasks like route planning and transport mode optimization, the handling of import and export documentation, and the administration of customs formalities.
- [What is WBS in Project Management? Tools, Types, Implementation & Example](https://aims.education/what-is-wbs-project-management-with-example/): Work Breakdown Structure or WBS project management is a process of breaking large projects into smaller tasks step by step, which makes the project work more approachable and ensures that the outcomes are productive and according to the project scope. The project manager creates the project management WBS by breaking down major deliverables into smaller systems and sub-deliverables, further decomposing them until specific work packages are identified. Each work package must be unique, and the sum of all packages should cover 100% of the project scope.
- [Iqtisad in Islam: Understanding Economic Moderation and Balance](https://aims.education/what-is-iqtisad-or-moderation-in-spending-in-islam/): Iqtisad in Islam means balance, moderation, and sound judgment in the way wealth is earned, used, shared, and protected. اقتصاد is not a call to poverty, nor is it permission for excess. It is a disciplined middle way that connects material life with moral responsibility, social justice, and accountability before Allah. In daily life, moderation in Islam shapes spending habits, discourages waste, restrains greed, and directs wealth toward lawful benefit.
- [What is Project Risk Management? Benefits, Types, Processes & Stages](https://aims.education/project-risk-management/): Project risk management is an activity that manages the risks of your project. It includes the processes of planning, identifying, analyzing, responding, and controlling project risks. The goal of managing risk in project management is to be more proactive and less reactive. The objectives of project risk management are to increase the likelihood and impact of positive events and decrease the likelihood and impact of negative events in the project.
- [Supply Chain Management Software: Benefits, Types & Features](https://aims.education/supply-chain-management-software/): Supply Chain Management software is defined as “A suite of digital tools that helps companies plan, manage, and optimize their flow of goods, data, and finances across their supply chain.” Supply chain software facilitates tasks like inventory management, logistics, demand forecasting, production planning, and supplier relationships to improve efficiency, reduce costs, and enhance visibility throughout the supply chain. SCM software is essential for companies to automate and improve processes within their supply chains.
- [Muzara’ah (مُزارَعَة) in Islamic Finance](https://aims.education/muzaraah-contract-in-islam/): According to Imam Shafi'i, the Muzara'ah contract is defined as, "When a person gives his land to another man on the condition that he will cultivate it and share in what Allah Almighty produces in it, this transaction is called Muhaqla, Mukhabara, or Muzara’ah."
- [17 Key Supply Chain Performance Metrics](https://aims.education/supply-chain-metrics-to-improve-performance/): "What gets measured gets done" highlights the importance of assessing supply chain performance to enhance overall business outcomes. First of all, you should define your supply chain performance objectives and identify the appropriate metrics for measuring your supply chains. Supply Chain metrics serve as reference points to monitor the effectiveness of people, processes, and technology in your supply chain. You can improve your supply chain performance by capturing and disseminating supply chain metrics among your teams, customers, and suppliers. Clear communication of defined metrics is important for driving performance and achieving your business goals.
- [What is Bai Meaning, Types of بيع/Sale in Islam, & Conditions for Bai Batil & Bai Muajjal](https://aims.education/bai-and-types-of-bai/): The meaning of Bai (بيع) is Sale, and it is defined as the “Exchange of a thing of value, by another thing of value, with mutual consent." More specifically, Bai may be defined as the “Exchange of cash against commodity." According to the principles of fiqh-ul-muamlat (Islamic laws for dealings), Bai is categorized as Bai Sahih (بيع صحيح) or Valid Sale, and Bai Batil (بيع باطل) or Invalid Sale. There are two types of Valid Bai in Islam: Bai Wafa and Bai Muajjal. According to the Shariah laws, for a sale to become valid (halal), any kind of bai (sale) must have four elements present. They are:
- [Project Communication Management – How to Plan, Manage, Tools, Processes & Benefits](https://aims.education/what-is-project-communication-management/): Project Communication Management is a collection of processes that ensures that communication in the project is sent, received, and understood by all project team members and stakeholders precisely at the right time. Project managers should ensure that the right tools and techniques are used to design the project management communication plan and that it is monitored and reviewed regularly to ensure minimum misunderstandings and conflicts within the project. Project managers spend most of their time communicating with team members, and other project stakeholders, whether it is internal or external to the organization. It is found that:
- [Supply Chain Management Frameworks](https://aims.education/supply-chain-management-frameworks/): The supply chain is considered a series of interrelated processes, where each process encompasses any activity that adds value to a product or service. There are 3 main types of supply chain management frameworks, and each supply chain framework has a set of different supply chain management processes. The Supply Chain Framework is defined as a "Guiding structure outlining principles, strategies, and components of a supply chain". You can design different supply chains using each framework, as each supplier management framework offers different benefits, focus areas, and applications - and its selection depends on the product or service being produced and delivered.
- [What is Istijrar? Meaning & Types of Bail Istijrar Contract in Islamic Banking](https://aims.education/what-is-istijrar-and-its-types/): Bai Istijrar (اِستِجرار) is a Shariah-compliant repeat Sale Agreement in which a buyer purchases goods from a seller in different quantities over time, and the payment is made at the end of the term. In Istijrar, each transaction does not require a new offer, acceptance, or bargaining. In Islamic banking and finance, a master agreement is signed, where all terms and conditions are established in advance.
- [Project Human Resource Management: HR Planning Steps, Processes, and Tools](https://aims.education/project-human-resource-management/): Project Human Resource Management refers to applying project management skills and principles to manage human resources and stream work to achieve the final project goals. Strong project HR management skills can help manage project resources, budgets, timelines, and people. Project HR managers are also responsible for bringing in new talent and should communicate effectively with employees and stakeholders. The role of the HR Manager in project management includes the planning and executing training and team bonding initiatives and Developing change management plans.
- [Istisna in Islamic Banking & Parallal Istisna](https://aims.education/istisna-in-islamic-banking-and-parallel-istisna/): Istisna (استصناع) is a special sale contract in Shariah where the commodity is transacted before it comes into existence. Istisna in Islamic banking is mostly an order for the producer to manufacture a specific commodity for the purchaser. It resembles the Salam contract. According to the Istisna definition: “Purchaser places an order to manufacture, assemble or construct something, which is to be delivered at a future date.” Then, it becomes an obligation on the manufacturer or the builder to deliver the asset with agreed specifications at the agreed period of time.
- [What is Musawamah in Islamic Banking? Examples & Contract Overview](https://aims.education/musawamah-in-islamic-banking-with-example/): Musawamah is an Arabic word derived from the word “sawa” which means “equalizing”. Musawamah means “bargaining” or “negotiation”, and in Islamic banking, it represents a type of sale where the seller does not disclose the cost of goods sold. It allows both parties to negotiate a mutually agreeable price, rather than rigid store policies or pricing structures. Using this financial instrument, an Islamic bank or financial institution can sell something for a profit without disclosing its' initial purchase price.
- [Project Integration Management: Processes & Role of Integration Project Manager](https://aims.education/project-integration-management-processes/): Project Integration Management is a collection of processes that ensure that various project elements are properly coordinated. Integrated project management involves coordinating all project elements, including tasks, resources, stakeholders, and deliverables. The purpose of integrated project management is to identify, define, combine, and coordinate various processes and project activities within the project management process groups. The project management integration is responsible for running and managing the project from the beginning to the end.
- [Linear Project Management: An In-Depth Overview](https://aims.education/linear-project-management-overview-and-tools/): Linear Project Management (LPM) is a structured approach to managing projects that focuses on completing one task or phase at a time, in a sequential order. It is also known as the Waterfall project management method due to the flow of tasks being similar to water flowing downstream. This approach is different from other project management methods, such as Agile or Scrum, which prioritize adaptability and continuous improvement over strict timelines. It is best suited for projects with well-defined and linear processes where there is limited room for change or flexibility.
- [Asset Backed Financing in Islamic Banking](https://aims.education/asset-backed-financing-in-islamic-banking/): According to the Islamic religion, not all investments and financial transactions are allowed for Muslims, and each of them must be compliant with the sources of Shariah or Islamic laws. Conventional financing usually involves loans or investments made to earn riba or interest, which Islam prohibits. For financing purposes, Islamic scholars designed the Shariah Complaint Islamic financial instruments/products, replacing interest-based loans with asset backed financing in Islamic banking and finance. These Shariah-compliant financial modes are grounded on the principles of risk-sharing and asset ownership, which distinguishes them from conventional banking systems. As the global embrace of Islamic finance continues to grow, the adoption of asset backed financing in Islamic finance has seen a significant increase.
- [Closed Loop Supply Chain (CSLP) – Meaning, Definition & 6-Step Process with Examples](https://aims.education/closed-loop-supply-chain-management/): A closed-loop supply chain (CLSC) aims to minimize waste and reduce costs by managing the entire life cycle of a product. It involves the forward flow of goods from supplier to customer and the backward flow of used or end-of-life products for reuse, recycling, or disposal. Closed loop recycling is a key concept in waste management, signifying a process where waste materials are not merely discarded, but collected, processed, and repurposed into new products, thus creating a 'Closed Loop.' The goal of Closed Loop Supply Chain Management (CLSCM) is to maximize the total value generated from the lifecycle of a product, minimize overall costs, and reduce environmental impact through recycling and waste reduction.
- [Musharakah – Meaning, Islamic Banking Contract & Types](https://aims.education/musharakah-contract-and-types-of-shirkah/): Musharakah (مشاركة) is a word of Arabic origin that literally means 'Sharing.' Its root word is Shirakah (شركة), which means “Being a Partner”. In Islamic banking and finance, Musharakah definition may be given as: “A joint enterprise formed for conducting some business, in which all partners share the profit according to a pre-agreed ratio, and loss is shared according to the ratio of the contribution”.
- [Sukuk (Islamic Bond) – Meaning, Types, Structuring & Applications](https://aims.education/sukuk-islamic-bond-meaning-structuring-types/): Sukuk (صكوك) is a plural of the word “Suuk,” which was used by the Muslim societies of the Middle Ages for “Papers.” These papers are used to represent financial obligations originating from trade and other commercial activities. Unlike bonds that yield interest, Sukuk or Islamic bonds may look similar, but they are structured using Shariah laws. There are many types of sukuk, and they are sometimes referred to as Islamic investment certificates. The advantages of Sukuk are as follows:
- [Is Investing in Stocks Haram or Halal?](https://aims.education/is-investing-in-stocks-haram-or-halal/): Investing in stocks often raises questions such as “Is investing in stocks haram?” or “Are stocks haram?”. The answer depends on the nature of the stocks in question and the businesses the company is involved in. While the stock market is not inherently haram, certain stocks can be classified as such if they violate Shariah principles. For example, stocks from companies dealing in alcohol, pork, or usurious financial institutions are obviously haram. However, the answer to the question “Is the stock market halal?” depends on whether the business registered in the stock market is aligned with Shariah principles and whether it focuses on halal-certified businesses.
- [What are Trading Blocs? Types and Impact on Supply Chain](https://aims.education/trading-blocs-in-supply-chain-management-and-logistics/): Trade or Trading blocs are agreements between countries, typically within a geographic region, to reduce or eliminate barriers to trade among the member nations. These barriers can include tariffs, quotas, and various trade restrictions. By fostering closer economic integration, trade blocs aim to enhance mutual benefits through the free exchange of goods, services, resources, and labor. Examples of well-known trade blocs include the European Union (EU), the North American Free Trade Agreement (NAFTA), and the Association of Southeast Asian Nations (ASEAN). While trade blocs can boost economic growth and cooperation among member states, they can also present challenges such as trade diversion and loss of sovereignty over trade policies.
- [What is Wadiah? Wadiah Yad Dhamanah & Wadiah Yad Amanah](https://aims.education/principles-of-wadiah-and-its-types/): Wadiah means "custody" and "trust." In Islamic banking, it refers to a deposit. It has two types: Wadiah yad Dhamanah and Wadiah yad Amanah. وَدِيعَة differs from Qard; the concept involves safekeeping and entrusting one’s belongings to another for a specified number of days without paying any fee. For ease of understanding. Imagine you own a property and want it to be in the safe hands of someone else named “Umer.” If Umer accepts your property for a specified period for safekeeping without charging any fees, then he is "Muwakkil," this contract will be called the "Wadiah contract."

## Pages
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- [Admission & Academic Policies](https://aims.education/policies/): Changes to these policies and terms of use may be made from time to time and will be effective upon posting. These terms of use should be reviewed upon each new viewing of this site and its pages. Continued use of the site will imply review and acceptance of any changes to these terms of use and privacy policies.
- [Online PhD in Project Management](https://aims.education/phd-in-project-management/): Online PhD in Project Management at AIMS is a research-led Level-8 doctorate for experienced professionals who want to investigate complex delivery challenges, strengthen strategic leadership, and contribute original knowledge to the field. The program combines flexible distance learning, structured dissertation supervision, and visible institutional trust signals in one doctoral pathway.
- [Online PhD in Supply Chain Management by Research](https://aims.education/phd-in-supply-chain-management/): The Online PhD in Supply Chain Management at AIMS is a research-based doctorate delivered through flexible distance learning. It is designed for experienced professionals who want doctoral credibility, supervised dissertation guidance, and advanced research capability without relocating or pausing their professional commitments. AIMS Education offers this doctoral route for learners who want to investigate complex supply chain, logistics, procurement, operations, and global trade challenges at an advanced academic level.
- [PhD in Islamic Finance and Banking](https://aims.education/phd-islamic-finance-and-banking/): Internationally accredited and globally recognized, this 100% online PhD in Islamic Finance and Banking doctorate develops advanced research expertise in Islamic banking, Shariah-compliant finance, Islamic financial institutions, and ethical financial innovation. The Islamic Finance PhD is a research-based doctoral program for professionals who want to produce original scholarship, strengthen Islamic finance practice, and qualify for senior academic, advisory, regulatory, or institutional leadership roles in the global Islamic financial services industry.
- [Online MBA in Supply Chain Management](https://aims.education/mba-supply-chain-management-degree/): Online MBA in Supply Chain Management at AIMS is a flexible master's degree in business administration with a specialization in supply chain, logistics, procurement, operations, analytics, and leadership. The program is delivered 100% online and is designed for professionals who want advanced business capability with practical supply chain expertise.
- [MBA in Project Management Online](https://aims.education/mba-project-management-degree/): MBA in Project Management Online is a UK-accredited, internationally relevant master's degree designed for professionals who want advanced project leadership and broader business management capability in one structured qualification.
- [MBA in Islamic Banking and Finance – Online Masters Degree](https://aims.education/islamic-banking-and-finance-mba-masters-degree/): MBA in Islamic Banking and Finance is a UK accredited, Level 7 online masters degree program for professionals seeking advanced expertise in Shariah compliant finance and business management. Offered by AIMS Education since 2005, it combines Islamic banking, financial products, governance, accounting, risk, leadership, and strategic decision making.
- [Scholarships and Fee Funding](https://aims.education/fee-scholarship/): The spread of Covid-19 and the following global crisis across the globe has impacted everyone. Despite these tumultuous times, what hasn’t changed is AIMS Education's commitment to you and our global community. Understanding the financial strain many are facing, we have decided to offer a tuition fee scholarship to our program participants. This initiative is designed to ease financial burdens and ensure that education remains accessible to all, even in the face of a global crisis. By providing fee scholarship, we aim to support our students' academic endeavors, fostering resilience and hope for a brighter future.
- [Islamic Accounting – Meaning, Principles, Standards & Differences from Conventional Accounting](https://aims.education/study-online/islamic-accounting-principles/): Islamic accounting meaning is easiest to understand as a Shariah-based approach to measuring, recording, and presenting financial information in a way that supports transparency, accountability, and ethical financial reporting. Islamic accounting principles are not limited to avoiding interest. They also seeks fairness in profit allocation, clarity in contractual rights, accountability to investors and depositors, and responsible disclosure of social obligations such as zakat. In practical terms, accounting for Islamic finance asks a deeper question than conventional reporting often does: not only whether a transaction earned money, but whether it earned money in a lawful, transparent, and socially responsible way.
- [What Is Islamic Banking? and How Do Islamic Banks Work? Understand Sharia-Compliant Banking](https://aims.education/study-online/what-is-islamic-banking-and-finance/): What is Islamic Banking in its clearest sense? It is a financial system governed by Islamic law in which money is not treated as a commodity that earns a guaranteed return merely through lending. Instead, returns are generated through lawful trade, leasing, partnership, and investment in identifiable assets and productive activity.
- [What is Takaful – Meaning, Principles, Types of Takaful & Islamic Insurance Models](https://aims.education/study-online/takaful-meaning-definition-and-principles/): In practice, Takaful Insurance provides a structured way for people, families, and businesses to prepare for uncertainty without turning protection itself into a purely profit driven exchange. That makes Islamic Insurance relevant not only to Muslims, but also to readers who are interested in ethical finance, cooperative risk sharing, and transparent financial arrangements. To understand this structure fully, we will begin with Takaful meaning, then examine how Takaful insurance works, why Islamic insurance differs from conventional insurance, and how Islamic takaful has developed into a modern industry.
- [Wakala – Meaning, Types, Mechanism, Examples and Role of Wakalah in Islamic Banking](https://aims.education/study-online/wakala-islamic-finance/): Wakala (وكالة) means agency or representation, and Wakala meaning refers to a Shariah-compliant Agency Contract where an agent acts on behalf of a principal for an agreed purpose. It is also written as wakalah, and is one of the most practical contracts in Islamic finance because it allows one party to appoint another to act on its behalf in a lawful and clearly defined matter.
- [Murabaha (Murabahah): Meaning, Islamic Banking Financing Contract, Types, and Examples](https://aims.education/study-online/murabahah/): Murabahah (مرابحه) comes from the Arabic root “Ribh” (رِبْح), meaning profit or gain. Murabahah refers to a cost-plus sale contract where the seller discloses the original cost and adds an agreed profit margin before selling the asset to the buyer. In Islamic banking, the bank purchases the asset requested by the customer from a third party and then resells it to the customer on spot or deferred payment terms.
- [Online Enrollment Form | AIMS Education](https://aims.education/enroll-now/): if(document.form1.full_name.value.length == 0){
- [AIMS’ Blogs & Articles Discussing Latest Industry Trends](https://aims.education/blog/): Project management has become a popular career choice in the business world, today
- [Free Online Lectures and Study Notes – AIMS](https://aims.education/study-online/): AIMS, a globally recognized and accredited online institution, is pleased to present free online lectures and study notes to those seeking quality education in Project Management, Islamic Finance, and Supply Chain Management. AIMS hopes that these free resources will make our quality learning accessible to everyone seeking a basic knowledge of these professional areas. Happy Learning!
- [Global Supply Chain Management: GSCM Participants & Operations](https://aims.education/study-online/global-supply-chain-management/): Globalization is defined as “The interdependence of economies globally that results from the growing volume and variety of international transactions in goods, services, and capital, and also from the spread of new technology.” Now, we take a look at what is global supply chain management. "It is a strategic management process of managing the flow of materials, information, and people across multiple locations globally".  Globalization and supply chain management influence each other.  They focus on the global business, and GSCM applies to firms increasingly focused on domestic and global markets.
- [Operations and Supply Chain Management: Meaning, Process, Planning, and Control](https://aims.education/study-online/operations-and-supply-chain-management/): Operations and supply chain management is the discipline of planning, coordinating, producing, moving, and controlling goods, services, information, and resources from business strategy to final customer value. It connects internal operations with suppliers, production sites, warehouses, distribution partners, customers, finance, and executive decision-making so that demand becomes executable work, measurable performance, and reliable delivery.
- [What is Value Chain? Meaning, Model, Analysis & Examples](https://aims.education/study-online/what-is-value-chain-definition/): A value Chain is a set of activities that a firm performs while operating in a specific industry to deliver a valuable product or service to the market. It is also defined as “A high-level model of how businesses receive raw materials as input, add value to the raw materials through various processes, and sell finished products to customers”. Porter’s Value Chain represents a system that explains how inputs are changed into outputs. In addition to the value chain definition, below video explains more aspects required to understand what is value chain?
- [What is Logistics? Meaning, Definition, Key Logistics Management Areas, Types and Examples](https://aims.education/study-online/what-is-logistics-management/): Logistics meaning is “the activity of transporting commercial goods to customers”, and logistics definition may be given as “The art and science of obtaining, producing, and distributing material and product in the proper place and in proper quantities.” It is a rapidly evolving business discipline that involves the management of order processing, warehousing, transportation, materials handling, and packaging—all of which should be integrated throughout a network of facilities.
- [Supply Chain Management Wiki – SCM Terms](https://aims.education/study-online/supply-chain-management-wiki/): Welcome to the supply chain management wiki, your comprehensive glossary for definitions and explanations of key terms deeply interconnected with the industry. Our supply chain wiki serves as an encyclopedia, elucidating significant terminologies prevalent within the field of supply chain management. In response to the growing need for a centralized source of accurate and up-to-date information, it aims to parallel the depth found in traditional resources like a supply chain management Wikipedia page.
- [SCOR – Supply Chain Operations Reference Model](https://aims.education/study-online/supply-chain-operations-reference-model-scor/): Supply Chain Operations Reference model or SCOR model is the planning and diagnostic system of supply chain management. SCOR model supply chain is the product of Supply-Chain Council (a global non-profit consortium) whose methodology, diagnostic and benchmarking tools help organizations make dramatic and rapid improvements in supply chain processes. It is also used to evaluate and compare supply chain activities and performance.
- [Supply Chain Strategy & Strategic SCM | AIMS UK](https://aims.education/study-online/supply-chain-strategy/): Supply Chain Strategy or Strategic Supply Chain Management is defined as: “ A strategy that defines how the supply chain works in order to meet the specific organizational business and strategic goals". Supply Chain strategies focuses on the optimization of supply chain operations, that is improved efficienty, reduced supply chain costs, and increased customer sataisfaction, while making sure that it follows the industry standards. While developing a supply chain strategy, it must be assured that it aligns with the organization's business goals and will result in long-term sustainability.
- [Supplier Relationship Management (SRM): Types, Tools & Examples](https://aims.education/study-online/supplier-relationship-management/): Supplier Relationship Management, or SRM, is a process of developing relations that affects all areas of supply chain management, and it has a dramatic impact on thesupply chain performance. One of the most fundamental yet more challenging requirements for supply chain integration is changing the nature of traditional relationships between suppliers and customers in the supply chain. A supplier relationship management tool offers a structured and efficient way to manage supplier information, procurement, and communication that improves supply chain collaborations which leads to better supplier performance.
- [Islamic Banking Products – Understand 8 Key Shariah Compliant Financial Instruments with Examples](https://aims.education/study-online/islamic-financial-instruments/): Islamic banking products are Shariah-compliant financial products that connect funding to real assets, real trade, real services, or shared business risk. Instead of earning interest on pure lending, Islamic institutions earn profit through sale, lease, partnership, or investment structures linked to genuine economic activity. This is why Islamic banking products are built around ownership, possession, usufruct, partnership, and commercial responsibility rather than interest-bearing debt alone.
- [Islamic Banking vs Conventional Banking: Key Differences Explained](https://aims.education/study-online/difference-between-islamic-banking-and-conventional-banking-system/): Islamic banking vs conventional banking is an important comparison because both systems provide savings, financing, and investment services, but they differ in how they treat interest, risk, ownership, profit, and Shariah compliance. Conventional banking is driven by interest-based lending, while Islamic banking is shaped by Shariah rules that prohibit riba, require ethical conduct, and link finance to real economic activity.
- [Mudarabah Meaning, Definition, Types, Principle, Islamic Banking Functions & Examples](https://aims.education/study-online/mudarabah-contract-in-islamic-banking/): Mudarabah meaning is easiest to understand as a profit-sharing partnership in which one party provides capital (Rab-ul-Maal) and the other provides managerial effort (Mudarib). The capital provider is called the Rabb-ul-Maal, the managing partner is the Mudarib, and the invested capital is known as Raas-ul-Maal. In practical terms, the Rabb-ul-Maal supplies cash or another recognized capital value, while the Mudarib uses expertise and labor to run a lawful business venture. Profits are shared according to a pre-agreed ratio, while financial loss is normally borne by the capital provider unless the manager is negligent or breaches the contract.
- [Diminishing Musharakah (Musharakah Mutanaqisah): Meaning, Islamic Banking Agreement, Shariah Rules, and Home Financing Examples](https://aims.education/study-online/diminishing-musharakah/): Diminishing Musharakah, also known as Musharakah Mutanaqisah (مشاركة متناقصة), is a Shariah-compliant co-ownership arrangement in which the financier and client jointly own an asset, and the client gradually buys the financier’s share over time. This structure is widely used in Islamic home financing, but it can also be applied to vehicles, machinery, business ventures, construction, renovation, and balance transfer cases.
- [Ijarah Meaning, Definition, Islamic Banking Contract, System, Types, and Examples](https://aims.education/study-online/ijarah-in-islamic-banking/): Ijarah (إجارة) comes from the Arabic root “Ajr” (أجر), meaning compensation, wage, or rent. In Islamic jurisprudence, Ijarah refers to the transfer of usufruct, meaning the right to use an asset or service, for an agreed consideration and an agreed period. The lessor retains ownership of the asset, while the lessee receives the right to use it according to the contract terms.
- [History of Islamic Banking: Origins, Evolution, and Key Milestones](https://aims.education/study-online/history-of-islamic-banking/): The history of Islamic banking traces how Islamic rules on trade, fairness, risk-sharing, and the prohibition of riba developed from early Muslim commercial practice into a modern financial industry. Its intellectual roots go back to the Quran, Sunnah, and classical Islamic commercial law, while its modern institutional form began in the mid-twentieth century and expanded strongly after the 1970s.
- [Islamic Economic System – Principles, Objectives, Goals & Examples of Islamic Economics](https://aims.education/study-online/islamic-economic-system/): Islamic economics is a Shariah-based framework for organizing production, trade, finance, consumption, and wealth distribution in a way that aligns material activity with moral responsibility. It does not treat economic life as separate from faith, law, and social duty. Instead, it connects earning, spending, investing, and ownership with accountability before Allah, fairness in dealing, and care for the wider community.
- [Glossary of Islamic Banking and Finance Terms](https://aims.education/study-online/islamic-banking-wiki/): In the interconnected world of finance, Islamic banking and finance stand out for their unique principles rooted in ethical and moral values. They eschew interest and emphasize risk-sharing, asset-backed financing, and socially responsible investments. As such, navigating this sphere requires a firm grasp of its distinct terminologies. Our glossary of Islamic finance and Islamic banking terms serves as an indispensable resource, paralleling the comprehensive repositories found on Islamic finance and Islamic banking wiki. These Islamic finance terms are a primer for the uninitiated and a refresher for the adept, capturing the essence of the concepts that galvanize the industry.
- [Risk Management in Islamic Finance & Banking: Principles, Risk Types, and Frameworks](https://aims.education/study-online/risk-management-in-islamic-banking/): Risk management in Islamic finance is the disciplined process of identifying, measuring, monitoring, reporting, and controlling financial and Shariah related risks within a framework that avoids riba, excessive uncertainty, and unlawful activities. It is essential because Islamic banks face the same core financial risks as other banks, yet they also carry contract specific responsibilities linked to asset ownership, delivery, profit sharing, and Shariah compliance.
- [Salam Contract: Bai Salam in Islamic Banking, How Salam Financing Works, Examples & Parallel Salam](https://aims.education/study-online/salam-contract-in-islamic-banking/): Salam (السَّلَم), also called Baiʿ al-Salam (بيع السلم), is an Arabic commercial term meaning an advance sale, where the price is paid immediately and the goods are delivered later. In Islamic banking and finance, the Salam contract allows a buyer to pay the full price now for goods that will be delivered on a future date, provided the goods, quantity, quality, delivery date, and place of delivery are clearly defined. In practice, this structure has long helped farmers, traders, and businesses obtain liquidity without resorting to interest-based borrowing.
- [What is Riba in Islam? Meaning, Definition, Types, Examples, & Islamic Banking Role.](https://aims.education/study-online/riba-in-islamic-banking-and-finance/): Riba (رِبَا) literally means increase, excess, addition, or growth, and in Islam, riba refers to an unlawful excess taken without due consideration, especially where money or goods are exchanged in a way that creates unjust gain. Classical Muslim scholars used this linguistic foundation to explain that not every increase is unlawful, but a specific kind of increase becomes prohibited when it is detached from fair consideration. This distinction is essential because riba meaning in Islamic law is not simply any profit.
- [Project Quality Management: Processes, Tools, & Techniques](https://aims.education/study-online/what-is-project-quality-management/): Project Quality Management is a process that addresses the activities related to the quality of the project and its deliverables. The development of project quality management policies and procedures ensures that the project will meet the defined needs. Processes used for quality management in project management are Plan Quality, Perform Quality Assurance, and Perform Quality Control. The project quality management tools and techniques are Cause-and-Effect Diagrams, Flow Charts, Check Sheets, Control Charts, Pareto charts, histograms, and Scatter Diagrams.
- [Project Time Management: Definition, Process, Tools, and Examples](https://aims.education/study-online/what-is-project-time-management/): Project time management is the discipline of defining, sequencing, estimating, scheduling, and controlling project activities so the project can be completed on time. It turns scope into timed work, links tasks through dependencies, assigns realistic durations, and gives the project manager a schedule baseline for tracking progress, delays, resources, and corrective action.