Islamic Finance and Banking

Enter this increasingly crucial area equipped with the skills and knowledge necessary to carry out vital Islamic financial operations. Many countries have recently seen a rise in demand for Islamic banking services, causing the sector to experience international expansion. This online programme, offered through Study InterActive, ensures you are up-to-date with the latest changes and equipped for success in this rapidly developing field. You will cover essentials such as the differences between Islamic and traditional banks, as well as how bank accounts work under Sharia principles. On top of this, the syllabus explores the key activities of Islamic banks and trends in Islamic portfolio management.

Entry Requirements

UK undergraduate degree or equivalent any subject area, English levels 5.5 IELTS (5.5 in all bands)or equivalent, Relevant work experience is an asset, but no work experience is required. Students who fail to meet academic requirements can be assessed on their relevant work experience (3 years management experience minimum for mature study route). Start dates is Every 12 weeks.

Stage I

Marketing and Business Environment, Accounting and Managerial Finance, Systems and Operations Management, Research Methods.

Stage II

Strategic Management and Leadership, Corporate Reporting, Performance Management and Control, Research Methods.

Stage III

Online Dissertation and Research Methods.

Financial institutions have developed a vast range of Islamic financial products designed to serve this fast growing market. You will distinguish between a traditional and an Islamic bank, and explore the operation of bank accounts under Sharia conditions. On successful completion of this module, you will be able to:

• Identify and analyse principles and trends in Islamic banking.
• Critically evaluate the key differences between Islamic and conventional banking.
• Analyse the current application of Islamic finance principles by a selected global banking organisation, and make recommendations for the improvement of these practices.
• Examine the economic benefits of various banking systems.
• Identify and assess the range of roles, skills and responsibilities necessary for effective corporate governance in Islamic banking.

This module provides an introduction to the conventional banking system before dealing with the key operations of Islamic banks. It also explores co-operation between conventional and Islamic financial institutions. It also deals with the Islamic financial markets, scope and instruments, the concepts of venture capital, investment funds, unit trusts, securitisation and Sukuk in accordance with Islamic principles. On successful completion of the module, students should be able to:

• Identify and analyse principles and trends in Islamic portfolio management.
• Determine and critically evaluate the key differences between the Islamic banking operations.
• Analyse the current approach to Islamic portfolio investment in a selected organisation, and make recommendations for the improvement of current practices.
• Critically evaluate the economic benefits of investing in a portfolio in the Islamic world.
• Identify and assess the range of skills and responsibilities needed for the effective management of a portfolio in Islamic finance.

Career Direction

Typical employers in this field include leading investment banks, as well as other organisations that carry out Islamic banking services. You can pursue a career as a Business and Product Development Manager, Islamic Banking Advisor, Islamic Banking Finance Manager or Banking Relationship Manager.