An Introduction to Islamic Finance

The fundamental concept of Islamic finance is that money has no intrinsic value and should be only used to measure wealth. We will show you the fundamental principles, basic elements and different characteristics of Islamic finance. Islam is a religion that emphasises ethical values and moral codes in all areas, including financial matters. You'll learn about Islamic business ethics, including the rules of commercial and financial institutions. Islamic finance is based on a body of fundamental principles that form the backbone of any Shariah-compliant banking product. You'll study the status of profit-loss sharing, interest, market speculation, market uncertainty and many more. The major difference between an Islamic investment fund and a conventional one is that the former adheres to Shariah principles and the latter does not. You will gain knowledge of the primary form of an Islamic Investment Fund and various Moslem finance structures.

‘Takaful’ is a process of agreement among a group of people to handle the losses resulting from specific risks to which all are vulnerable. Explore the concept and various models of Takaful, also known as ‘Islamic insurance’. On top of that, you will learn about different Takaful products available in the Islamic finance market. Islamic finance is closely linked to the concept of profit and loss sharing. Any business deal or transaction that excludes the possibility of loss is not allowed in Islam. We will show you the ideas of profit and loss sharing in Islamic finance and its role in retail and wholesale markets. Islamic finance was introduced into the UK with the first transaction and establishment of an Islamic bank in 1982. We will show you the history of Islamic finance and the regulatory development of Islamic finance in the UK. Having learned that, you will discover some of the country's pressing challenges Islamic finance faces.

We designed this course for people who want to enter the Islamic finance sector or invest in Islamic banks. It is helpful for professionals who are already working in this field and want to refresh their knowledge in Islamic finance. This course compares various aspects of Islamic and conventional financial structures to give a clear idea about their strengths, and it doubles as a tool that helps learners decide which suits them best. The government authorises five Shariah-compliant banks in the UK to operate freely. This course specialises in Islamic finance in the UK because of its functional Islamic banks and the large Muslim population. Islamic banking appeals to many as it is based on fairness and justice in which both the bank and investor share profit and loss. Join this course now and learn about Islamic finance for free!