Overview
Foundations of Islamic Banking and Finance is an optional module designed to provide you with an introductory level of knowledge and understanding of all the major issues relating to Islamic Banking and Finance.
The module provides a background to the growth of the industry in recent years and the reasons why such growth is especially important. You will explore topics relating to the ideological background, Islamic economic theory, ownership and wealth under Islamic law, and the relationship between prosperity and Islamic economic theories. The prohibition of Riba (interest) is fundamental to an understanding of Islamic Banking and Finance and is explored in detail, as well as the issue of uncertainty (gharar) and the important differences between interest and profit.
By the end of your studies you will have a good overview and understanding of the foundation level of Islamic Banking and Practice, and an appreciation of the key topics relating to the subject.
Course details
Cost
The cost of this module depends on the study method you choose:
Web-supported learning
£485.00
Flexible learning (incl 2 workshops)
£585.00
Next course start date
Yet to be confirmed.
Course duration
150 study hours, assessment to be completed within 6 months of registration
Credits
15 credits
Studying for this module
The overall study time for this module is 150 hours. The examination will be held 6 months after the course start date in which time you can work through the course materials. This module must be successfully completed within 12 months of the course start date.
Learning support
There are 2 study methods available for this module.
- Web-supported learning: a more flexible approach to studying, which allows you to fit your learning around your job and other commitments. You will be supported by a web tutor who can provide guidance on how to study and answer any questions you have about the course content via our secure website.
- Flexible learning: allows you to fit your studies around your life but still benefit from face-to-face contact with a tutor. A series of 2, 1 day workshops, run by specialist tutors, are scheduled at regular intervals throughout the course of study. Workshops cover specific module topics and are an opportunity to ask questions and meet other students.
Learning resources
For each module you will receive a core text, written by industry experts and updated regularly to reflect the fast-changing nature of the financial services industry. Learning materials are developed specifically around each module syllabus and learning outcomes.
Through the ifs secure website you will have access to the following additional resources:
- student induction materials that provide guidance study skills and tips on preparing for assessment
- our e-library, ifs KnowledgeBank, which contains a wide range of current research and management data to help you with your studies. It gives you the opportunity to access a wealth of study material, which includes textbooks, financial glossaries and articles from leading journals. ifs KnowledgeBank is an important tool in enabling you to expand your knowledge and read around particular subject areas
- module discussion forums – you can use these to post questions to a web tutor, raise a query with the ifs or chat to other students
- knowledge-assessment quizzes
- electronic copies of learning materials giving you greater flexibility to choose when and where you study
- specimen assessment material
Assessment
This module is assessed by a 2-hour written examination comprising 8 compulsory short-answer questions. View examination centres or contact Admissions, Academic Management and Student Services Office on +44 (0) 1227 829499 if there is not a centre near you.
During your studies you are required to be a member of the ifs. The membership fee is currently £98 (£49.00 after 1 July).
Further details
View the Foundations of Islamic Banking and Finance summary syllabus.
View the full-length Foundations of Islamic Banking and Finance module specification, which also includes the syllabus for the Professional Certificate in Banking.
If you are already registered for this module you should refer to your course website to view the module specification that relates to your session of study. You will need to log on to my ifslearning to access the course website for your module.
Click to view the short answer sample assessment.
View other FHEQ Level 4 modules.