Institute of Islamic Banking and Takaful Insurance

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At the Institute of Islamic Banking and Takaful, we are dedicated to providing comprehensive education in Islamic studies, business, banking, and finance. Our courses are designed to equip students with a deep understanding of Islamic principles and their practical applications in the modern world. Whether you're a novice seeking foundational knowledge or a seasoned professional looking to enhance your expertise, our diverse range of courses cater to all levels of experience and interest.

Masters in Islamic Learning     

Islamic Learning Courses: 

  1. Introduction to Islam: An exploration of the fundamental beliefs, practices, and history of Islam, providing a solid foundation for further study.
  2. Quranic Studies: Delve into the exegesis, interpretation, and linguistic nuances of the Holy Quran, uncovering its timeless wisdom and guidance.
  3. Hadith Studies: Study the sayings and actions of the Prophet Muhammad (peace be upon him), understanding their significance in Islamic jurisprudence and daily life.
  4. Islamic History and Civilization: Trace the development and contributions of Islamic civilization throughout history, examining its cultural, scientific, and artistic achievements.
  5. Islamic Ethics and Morality: Explore the ethical principles and moral guidelines outlined in Islamic teachings, and their application in personal and professional contexts.


Post Graduate Certificate in Islamic Business

Islamic Business Courses:

  1. Principles of Islamic Business Ethics: Learn about the ethical framework governing business transactions in Islam, including concepts such as fairness, transparency, and social responsibility.
  2. Islamic Entrepreneurship: Gain insights into the principles of Islamic entrepreneurship, exploring concepts like risk-sharing, ethical investment, and social impact.
  3. Islamic Marketing and Consumer Behavior: Study marketing strategies and consumer behavior from an Islamic perspective, considering principles of honesty, integrity, and ethical advertising.
  4. Islamic Finance in Business Management: Understand the role of Islamic finance in business management, including topics such as financing options, risk management, and Sharia-compliant investments.


Advance Diploma in Islamic Finance

Islamic Banking and Finance Courses:

  1. Fundamentals of Islamic Finance: Explore the basic principles and concepts of Islamic finance, including prohibition of interest (riba), profit-sharing (mudarabah), and asset-backed financing (ijara).
  2. Islamic Banking Operations: Gain an understanding of the operational aspects of Islamic banks, including deposit products, financing instruments, and regulatory frameworks.
  3. Islamic Capital Markets: Learn about Sharia-compliant investment opportunities in capital markets, including sukuk (Islamic bonds), equities screening, and Islamic investment funds.
  4. Islamic Risk Management: Explore risk management principles and practices within the context of Islamic finance, including Sharia-compliant approaches to mitigate financial risks.


Why Choose Us?

  • Expert Faculty: Our courses are taught by experienced scholars and professionals with expertise in Islamic studies, business, banking, and finance.
  • Comprehensive Curriculum: Our curriculum is carefully designed to provide a holistic understanding of Islamic principles and their practical applications in various fields.
  • Flexible Learning Options: We offer flexible learning options, including online courses, seminars, and workshops, to accommodate diverse schedules and learning preferences.
  • Practical Relevance: Our courses emphasize real-world applications, equipping students with the knowledge and skills needed to excel in their personal and professional endeavors.


Post Grad Certificate
Islamic Business - 1.5 years
First Semester:


1.    Islamic Business Ethics

·         Foundations of Islamic Ethics
·         Ethical Principles in Islamic Business Transactions
·         Business Integrity and Trustworthiness
·         Corporate Social Responsibility in Islam

2.    Principles of Islamic Finance

·         Introduction to Islamic Finance Principles
·         Islamic Banking and Financial Institutions
·         Islamic Contracts and Transactions
·         Risk Management in Islamic Finance

3.    Islamic Marketing Strategies

·         Understanding Islamic Marketing Concepts
·         Halal Marketing and Consumer Behavior
·         Branding and Promotion in Islamic Markets
·         Digital Marketing in Islamic Contexts


Second Semester:

4.    Entrepreneurship in Islam

·         Introduction to Islamic Entrepreneurship
·         Islamic Business Model Canvas
·         Funding and Financing for Islamic Startups
·         Scaling and Growth Strategies in Islamic Ventures

5.    Leadership Development in Islamic Organizations

·         Leadership Theories and Models
·         Islamic Principles of Effective Leadership
·         Conflict Resolution and Decision Making in Islamic Leadership
·         Leading with Integrity and Accountability

6.    Islamic Accounting and Auditing

·         Introduction to Islamic Accounting Principles
·         Islamic Financial Reporting Standards (IFRS)
·         Zakat Accounting and Distribution
·         Auditing Practices in Islamic Finance


Third Semester:

7.    Islamic Business Law and Contracts

·         Introduction to Islamic Commercial Law (Fiqh al-Mu'amalat)
·         Contracts in Islamic Business Transactions
·         Dispute Resolution in Islamic Law
·         Legal Compliance and Ethics in Islamic Business Law

8.    Islamic Wealth Management

·         Wealth Accumulation and Distribution in Islam
·         Islamic Estate Planning and Inheritance Laws
·         Wealth Preservation Strategies in Islamic Finance
·         Islamic Philanthropy and Charitable Giving

9.    Global Perspective of Islamic Business

·         Cultural Sensitivity and Adaptation in Global Business
·         Cross-Cultural Communication in Islamic Business Contexts
·         Corporate Governance in Multinational Islamic Companies
·         Sustainable Development and Corporate Social Responsibility on a Global Scale

Master Certificate
Islamic Learning- ​2 years
1. Quranic Studies: This field focuses on the interpretation (Tafsir), recitation (Tajweed), and memorization (Hifz) of the Quran, the holy book of Islam.
2.    Hadith Studies: Hadith refers to the sayings, actions, and approvals of Prophet Muhammad. This area involves the study of Hadith collections, their authenticity, and their application in Islamic jurisprudence.
3.    Islamic Jurisprudence (Fiqh): Fiqh deals with Islamic law derived from primary sources such as the Quran and Hadith. It encompasses various schools of thought (Madhhab) and covers topics such as worship (Salah, Zakat, Hajj), transactions (Mu'amalat), and family law.
4.    Islamic History: This field explores the historical events, civilizations, and contributions of Muslims throughout different periods, from the life of Prophet Muhammad to the present day.
5.    Islamic Theology (Aqidah): Aqidah deals with the beliefs and doctrines of Islam, including the study of concepts such as the oneness of God (Tawhid), prophethood, and the afterlife.
6.    Islamic Philosophy: Islamic philosophy examines philosophical ideas and inquiries within the Islamic intellectual tradition, addressing questions related to metaphysics, epistemology, ethics, and the relationship between reason and revelation.
7.    Islamic Ethics (Akhlaq): Akhlaq explores the moral and ethical principles derived from Islamic teachings, guiding individuals on virtuous conduct, character development, and interactions with others.
8.    Islamic Spirituality (Tasawwuf): Tasawwuf focuses on spiritual purification, inner development, and the cultivation of a deeper connection with Allah. It encompasses practices such as dhikr (remembrance of God), meditation, and self-discipline.
9.    Islamic Education and Pedagogy: This area involves the study of methods, approaches, and theories related to Islamic education, including curriculum development, teaching techniques, and educational philosophies within an Islamic framework.
10. Comparative Religion: Comparative religion studies examine the similarities and differences between Islam and other religious traditions, promoting interfaith dialogue and understanding.
11. Islamic Economics: This field applies Islamic principles to economic theory and practice, including concepts such as Sharia-compliant finance, wealth distribution (Zakat), and ethical business conduct.
12. Islamic Finance: Islamic Finance involves financial transactions and instruments that comply with Sharia law, such as Islamic banking, Islamic insurance (Takaful), and Islamic investment funds (Sukuk).
13. Islamic Business Ethics: Islamic Business Ethics examines ethical guidelines and principles derived from Islamic teachings, guiding business practices, corporate governance, and decision-making processes.
14. Islamic Marketing: Islamic Marketing incorporates Islamic values and ethics into marketing strategies, product development, and consumer behavior analysis.
15. Islamic Entrepreneurship: This area focuses on entrepreneurship within an Islamic framework, emphasizing ethical business practices, social responsibility, and innovation in accordance with Islamic principles.
16. Islamic Sociology: Islamic Sociology explores social phenomena within Muslim societies, addressing issues such as family structure, gender roles, social justice, and community dynamics from an Islamic perspective.
17. Islamic Psychology: Islamic Psychology integrates Islamic principles and values into the study of human behavior, mental health, and well-being, emphasizing concepts such as spiritual development, resilience, and the holistic nature of the human psyche.
18. Islamic Education Management: This field applies principles of Islamic education to the management and administration of educational institutions, promoting values-based leadership, curriculum development, and student welfare.
19. Islamic Public Policy: Islamic Public Policy involves the formulation and implementation of policies that align with Islamic values and principles, addressing social welfare, justice, and governance in Muslim-majority societies.
20. Islamic Social Entrepreneurship: Islamic Social Entrepreneurship combines business innovation with a commitment to addressing social challenges and promoting community development in line with Islamic teachings.
Advance Diploma
​Islamic Finance- 1 year 
First Semester:
​

1.    Foundations of Islamic Finance

·         Introduction to Islamic Economics and Finance
·         Principles of Islamic Banking and Finance
·         Shariah Principles and their Application in Banking

2.    Islamic Banking Operations

·         Overview of Islamic Banking Products and Services
·         Islamic Contracts and Transactions in Banking
·         Islamic Banking Regulatory Framework

3.    Islamic Financial Instruments

·         Murabaha, Mudarabah, Musharakah, and Ijarah Contracts
·         Sukuk (Islamic Bonds) and Islamic Equity Products
·         Takaful (Islamic Insurance) Principles and Practices

Second Semester:

4.    Islamic Banking Risk Management

·         Risk Management Framework in Islamic Banking
·         Credit Risk Management in Islamic Banking
·         Operational and Liquidity Risk Management

5.    Islamic Banking Governance and Compliance

·         Corporate Governance in Islamic Banking Institutions
·         Compliance with Shariah Standards and Regulatory Requirements
·         Ethical Conduct and Integrity in Islamic Banking

6.    Islamic Banking Investment and Financing

·         Islamic Investment Banking Principles and Practices
·         Project and Infrastructure Financing in Islamic Banking
·         Real Estate and Asset Financing in Islamic Banking

Program Capstone:

7.    Capstone Project: Research and Presentation

·         Conduct an in-depth research project on a topic related to Islamic banking
·         Present findings and recommendations to peers and faculty members

Internship or Industry Project:

  • Optional internship or industry project to gain practical experience in Islamic banking institutions
  • Apply theoretical knowledge in real-world banking scenarios
  • Networking opportunities with professionals in the field


Program Outcome: Upon completion of the Postgraduate Diploma in Islamic Banking, graduates will have acquired advanced knowledge and skills in Islamic banking principles, operations, risk management, governance, and compliance. They will be well-equipped to pursue careers in various roles within Islamic banking institutions, regulatory bodies, consultancy firms, and other related organizations, contributing to the growth and development of the Islamic finance industry.




Introduction, Background and Global  Scenario

 

Islamic Shariah

·        Shariah; key to understanding Islamic banking

·        Resources of Shariah

·        The concept of Lawful and unlawful as per Shariah

 

Islamic Economic System

·        Objectives of Islamic Economics and Finance vs. Capitalism and Socialism

·        The Concept of Wealth in Islam

·        Objectives of Distribution of Wealth in Islam

·        Factors of Production in Islam and their compensations

 

Concept of Riba, Gharar and Qimar and Other Prohibited Activities

·        Riba – Quran, Hadith, Deficition and Types

·        Arguments against commercial interest

·        Gharar, Qimar and Gambling

 

Islamic Law of Contract

·        Basic Elements of Contract

·        Void and Valid Conditions

·        Uqood Muawadha and Ghari Muawadha

 

Islamic Law of Sale and Purchase

·        Subject matter, Price & Delivery & Possession

·        Bai Batil, Bai Fasid, Bai Makrooh

·        Prohibited Transactions in Islam

·        Khayar, Iqala

 

Comparison of Islamic and Conventional Banking

·        Nature of Relationship between Customers and Bnak

·        Documentation

·        Concept of Risk

 

Categories of Islamic Modes

·        Trade Based Modes

·        Investment Based Modes

 

Rules of Agency Contracts (Al Wakalah)

·        Disclosed Agent, Non disclosed Agent

·        Wakalatul Istismar Contract (Portfolio Management)

·         Differeniate Waadah (unilaterial promise), Muawadah (bilateral promise), Aqd (contract)

Dhamanat

·        Guarantee, Mortgage, liquidated Damages, Letter of Guarantee, Collateral

 

Murabaha

·        Introduction to Murabaha

·        Murabaha as a Financing Mode

·        Murabaha terminology and its variants

·        Characteristics and essentials of Shariah compliant Murabaha

·        Practical steps for Murabaha transactions

·        Issues and mistakes in Murabaha: Rebate in early payment, penalty on late payment

·        Roll over of the transaction etc.

·        Difference between Murabaha based financing and conventional bank lending

·        Risks for Islamic banks in Murabaha transactions

·        Scope and application of Murabaha

·        Overview of a Model Agreement of Murbaha and Case Study

 

Ijarah

·        Basic rules of Irarah

·        Lease as a mode of Islamic financing

·        Rights and Obligations of Lessor and Lessee

·        Conditions of Ijrah/Lease

·        Differentiating Islamic Ijarah from Conventional Leasing

·        Overview of a Model Agreement of Ijarah

 

Salam

·        Salam : Definition and Concept

·        Background and purpose of Salam

·        Rules for Valid Salam Contract

·        Difference between Salam and Murabaha

·        Taking delivery of Salam goods

·        Parallel Salam

·        Application of Salam and parallel Salam

·        Risks in Salam application

·        Penalty for non performance

·        Scope and Potential Salam

 

Istisna

·        Concept and definition of Istisna

·        Rules for valid Istisna contract

·        Payment in Istisna

·        Defference between Salam and Istisna

·        Parallel Istisna

·        Application of Istisna and Parallel Istisna

·        Risks associated with Istisna

·        Istisna as Mode of Financing

 

Shirkah and Musharakah

·        Terminology and Characteristics of Musharakah

·        Type and Basic Rules of Mushrakah

·        Termination of Musharakah

·        Constructive liquidation 0of Musharakah

·        Security/collateral in Musharakah

·        Profit/Loss Distribution

·        Application of Muharakah as a mode

·        Problems and Risks for banks in Mushrakah Financing

 

Mudarabah

·        Mudarabah defined

·        Mudarabah Capital

·        Profit/Loss distribution

·        Unrestricted and Restricted Mudarabah

·        Difference between Mudarabah and Mushrakah

·        Termination of Mudarabah

·        Scope of Mudarabha for banking system

·        Problems and Risks for Islamic banks providing Mudarabah based financing

 

Diminishing Mushrakah

·        Concept of Diminishing Musharakah

·        Basic features of Diminishing Mushrakah

·        Steps in a Diminishing Mushrakah Transaction

·        Lease rentals in Dimnishing Musharakha

·        Unilateral Promise and transfer of ownership title

·        Diminishing Mushrakah as a financing mode

 

Advance Application of Islamic Mode of Finance

·        Deposit (Liability) Management in Islamic Banks

·        Trade Finance

·        Corporate Finance Transactions with live examples

 

Concept of Takaful (Islamic Insurance)

·        Basic concept of Takaful

·        How it is different from Insurance

·        Models of Takaful

 

Overview of Securitization and Sukuk

·        Securitization of Musharakah, Mudarabah & Ijarah

·        Liquidity Management through Securitization

 

AAOIFI’s Accounting, Auditing and Governance Standards Accounting

·        Overview of salient features of Accounting Standards of various modes

·        Adaptation of AAOIFI Standards by ICAP

 

 

Core Readings

 

1.          Islamic Finance, Prof. Dr. Rukhsar Ahmed, Institute of Islamic Banking and Takaful Insurance.

2.          Islamic Banking and Finance Theory and Practice, Muhammad Ayub, State Bank of  Pakistan

3.          An Introduction to Islamic Finance, Muhammad Taqi Usmani,

4.          Meezan Bank’s Guide to Islamic Banking,  Muhammad Imran Usmani,                   

5.          Issues in Islamic Banking, Islamic Foundation   U.K., Muhammad Nijatullah Siddiqui,                                            

 

 

Supplementary Readings

 

  1. Islamic Finance, Prof. Dr. Rukhsar Ahmed, Institute of Islamic Banking and Takaful.
  2. Business Ethics in the Banking Sector, Institute of Bankers Pakistan,      
  3. Interest Free Banking, Institute of Bankers Pakistan,
  4. Legal Framework for Islamic Banking, Pakistan, Institute of Bankers            
  5. Islamic Banking, Prof. Dr. Rukhsar Ahmed
  6. Model Islamic Bank on Shariah Perception,  Prof. Dr. Rukhsar Ahmed            
  7. Islamic Financial Instruments,  Prof. Dr. Rukhsar Ahmed and Justice Fahim Ahmed