Islamic Finance Diploma: Curriculum & Scholarship

Eligibility & Fee

FEE STRUCTURE

Master Diploma in Islamic Finance (MDIF)
	Regular Fee	35% Fee Scholarship Time Sensitive Offer
Semester-I Fee	£ ~~1,000~~	£ 650
Semester-II Fee	£ ~~1,000~~	£ 650
Full MDPM Fee (in Installment)	£ ~~2,000~~	£ 1,300
Full MDPM Fee (if Paid at Once)	£ ~~1,800~~	£ 1,100
Note: *Discount packages are available for companies and groups. Contact for details.

ELIGIBILITY CRITERIA

To enroll in MDIF program, applicants must have:

College diploma OR 2 years work experience
Working knowledge of English

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

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MDIF Curriculum

SEMESTER-I

Islamic Economic System

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

Islamic Financial Instruments

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 Investment & Commercial Banking

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.

Accounting for Islamic Financial Institutions

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.

Islamic Insurance System

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.

SEMESTER-II

Islamic Microeconomics

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.

Advanced Islamic Financial Services

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.

Designing an Islamic Finance Product

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.

Clients and Participants

Accreditation !

AIMS is officially registered with the UKRLP in the United Kingdom. AIMS holds UK accreditation from CPD & international accreditation from QAHE. 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.