Professional Diploma in Islamic Banking & Finance

This unit provides an in-depth understanding of the principles and practices of Islamic banking and insurance, focusing on Sharia-compliant financial products and services. Students will explore the unique features of Islamic banking operations, including risk-sharing, profit-and-loss sharing, and ethical investment principles. The unit also covers the structure and operation of Takaful (Islamic insurance), highlighting its role in fostering financial stability and inclusivity. Through practical examples and case studies, learners will develop the skills to evaluate and implement Islamic banking and insurance models, ensuring alignment with ethical and Sharia principles while addressing the needs of modern financial markets.

This unit equips students with advanced research methodologies and analytical skills essential for investigating complex issues in Islamic banking and finance. It provides a structured approach to designing, conducting, and presenting a substantial research project that integrates theoretical knowledge with practical applications. Students will explore qualitative and quantitative research methods, data analysis techniques, and academic writing to critically examine topics relevant to the field. The project report serves as an opportunity for learners to demonstrate their ability to apply rigorous research practices to real-world challenges, contributing innovative solutions to the dynamic landscape of Islamic banking and finance.

This unit explores the principles and frameworks of moral economy, with an emphasis on their application in finance. The Islamic Moral Economy and Finance pathway focuses on ethical values rooted in Sharia principles, examining how these shape financial systems, promote social justice, and foster economic inclusivity. Alternatively, the Moral Economy and Finance pathway provides a broader perspective, analyzing ethical frameworks and their influence on sustainable and socially responsible financial practices. Both options encourage critical engagement with contemporary challenges in finance, enabling students to develop strategies that align with ethical principles and address global economic issues effectively.

This unit delves into the principles and practices of accounting and auditing within the framework of Islamic finance. Students will explore the unique features of Islamic accounting, including its emphasis on ethical compliance, transparency, and accountability in financial reporting. The unit covers the role of Sharia standards in shaping accounting practices and the importance of auditing to ensure adherence to Islamic principles in financial transactions. Through case studies and practical applications, learners will gain the knowledge and skills to implement and evaluate Islamic accounting and auditing processes, contributing to the integrity and trustworthiness of Islamic financial institutions.

This unit focuses on the principles and processes involved in designing and developing innovative financial products within the framework of Islamic finance. Students will explore key concepts such as Sharia compliance, market analysis, and the ethical considerations that underpin product development. The unit emphasizes practical approaches to prototyping, enabling learners to conceptualize, design, and refine financial products that meet the needs of diverse stakeholders while adhering to Islamic principles. Through hands-on projects and case studies, students will gain the skills required to drive innovation and create solutions that align with the values and demands of the Islamic finance industry.

This unit examines the principles and practices of risk management within the context of Islamic finance. Students will explore the unique challenges and opportunities of managing financial risks while adhering to Sharia principles, including the prohibition of interest (riba) and excessive uncertainty (gharar). The unit covers key risk management tools, techniques, and frameworks used in Islamic financial institutions, emphasizing ethical and sustainable approaches to mitigating risks. Through case studies and practical applications, learners will develop the skills to identify, assess, and manage risks effectively, ensuring compliance with Islamic principles while promoting financial stability and growth.

This unit provides a comprehensive understanding of the principles and mechanisms behind raising finance within the framework of Islamic finance. Students will explore various Sharia-compliant financial models, including profit-and-loss sharing (mudarabah), partnership (musharakah), and leasing (ijarah), as well as the roles of Islamic financial institutions in facilitating these models. The unit emphasizes ethical and sustainable approaches to financing, focusing on how these models address the needs of modern economies while upholding Islamic principles. Through case studies and applied learning, students will gain the knowledge and skills to evaluate and implement Islamic financial solutions in a variety of contexts.

This unit explores the principles and practices of raising finance through ethical financial models and institutions. Students will examine frameworks that prioritize sustainability, social responsibility, and transparency in financial operations. The unit covers diverse ethical financing approaches, such as impact investing, microfinance, and socially responsible lending, highlighting their application in addressing global challenges. By analyzing case studies and real-world scenarios, students will develop the skills to design, evaluate, and implement financial strategies that align with ethical values, contribute to economic inclusivity, and foster long-term sustainability.