Islamic Finance – Certificate in Islamic Commercial Law

This is one of four Islamic Finance courses and it is recommended that this course should be studied first. With this course you will gain an introduction to Islamic commercial law as it relates to Islamic finance. You will study the sources of the Islamic commercial law, including the Qur'an and the traditions of the Prophet Muhammad, as well as the methodologies used to solve modern problems in Islamic Finance. You will also focus on Sharia compliance and the importance of Sharia standards.

The course contains 11 chapters:

1. An introduction to Islamic finance
2. Shari’ah compliance
3. Source of Islamic Commercial Law
4. Methodology of interpretation of Islamic commercial law
5. Formation of contracts
6. Classification of contracts
7. Comparison of classifications of contracts
8. Traditional Islamic contracts and Islamic finance
9. Overview of Islamic banking, Takaful and capital market products
10. Application of Islamic contracts in Islamic finance
11. Implementation of Shari’ah standards, policies and rulings in Islamic finance

Entry Requirements: Level 2 English and Maths

Format of Course Materials: Paper-based

Assignments: None, but the course contains a study guide, exemplars, and practice questions.

Exams: One exam – 40 multiple choice questions, one hour long. (Funding not included – you will need to re-apply to PET for the exam fees).

Prison Support Requirements: Organize and invigilate exam

Tutor Support: Yes

What’s Next? The next three Islamic Finance courses should be taken in the following order: Certificate in banking and takaful; Certificate in Islamic capital markets and Instruments; Certificate in accounting for Islamic financial Institutions.

Find Out More: You can read about the course provider here

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