This module explores Islamic economic principles rooted in moral responsibility, stewardship, and Shari’ah guidance, while examining the evolution of Islamic banking systems.

Lesson 1. The Conventional Economy and Banking System

Lesson 2. Islamic Economics and the Moral Economy

Lesson 3. Principles Governing Commercial Transactions in Islamic Banking

Lesson 4. Evolution of Islamic Banks and Challenges Facing Modern Islamic Banks

This module provides detailed analysis of Islamic contracts and their practical application in profit generation without interest.

Lesson 1. Islamic Commercial Law and the Concept of Promise

Lesson 2. Sale-Based Contracts for Financing and Liquidity – Murabaha, Bai Muajjal / Bai Bithaman Ajil, Musawamah, Bai Istijrar, Tawarruq (Commodity Murabaha), Reverse Murabaha and Bai Inah.

Lesson 3. Forward Sales Contracts – Salam and Istisna’a

Lesson 4. Lease-Based Contracts – Ijarah and Ijarah wa Iqtina (lease-to-own)

Lesson 5. Partnership-Based Contracts – Mudarabah, Musharakah and Diminishing Musharakah

Lesson 6. Accessory and Non-Commercial Contracts

This module examines how Islamic banks mobilise deposits, manage funds, and distribute returns without interest.

Lesson 1. Deposit Mobilisation in Islamic Banks – Account Types and Profit Distribution

Lesson 2. Deposit Management, Profit Calculation and Distribution

Lesson 3. Takaful for Deposit Protection

This module examines how Islamic banks structure financing for personal, consumer, business, trade, real estate, and project activities, as well as microfinance, within Shari’ah-compliant frameworks.  

Lesson 1. Shari’ah-Compliant Lending and Debt Management

Lesson 2. Personal, Consumer and Home Finance (including overdrafts and unsecured loans)

Lesson 3. Business and Asset Finance 

Lesson 4. Trade Finance and International Transactions

Lesson 5. Project and Real Estate Finance 

Lesson 6. Microfinance and Social Development

This module examines the fee-based services that provide Islamic banks with non-interest income, including operational, agency, advisory, and payment services, as well as Islamic debit and credit card structures.

Lesson 1. Fee and Commission-based Banking Services

Lesson 2. Islamic Debit and Credit Card Services

This module examines the structure and functioning of money markets, foreign exchange markets, and capital markets within Islamic finance, including their role in liquidity management, investment, and risk management.

Lesson 1. Overview of Financial Markets and Shari’ah Compliance

Lesson 2. Islamic Money Market and Interbank Operations

Lesson 3. Foreign Exchange in Islamic Banking

Lesson 4. Shari’ah-Compliant Risk Management Instruments and Derivatives

Lesson 5. Islamic Capital Markets – Sukuk and Securitisation

Lesson 6. Equities and Islamic Investment Funds

This module examines the regulatory frameworks, governance structures, and risk management systems that underpin Islamic banking, together with the growing role of Islamic finance in sustainable development and responsible finance.

Lesson 1. Banking Regulation and Supervision

Lesson 2. Corporate Governance and Leadership

Lesson 3. Shari’ah Governance and Compliance Frameworks

Lesson 4. Risk, Liquidity and Asset–Liability Management (ALM)

Lesson 5. Islamic Banking and Sustainable Development

This module evaluates institutional structures, transformation strategies, and international expansion of Islamic banking.

Lesson 1. Islamic banking structures (Full Islamic Banks, Windows and Subsidiaries)

Lesson 2. Converting a Conventional Bank into an Islamic Bank

Lesson 3. Financial Reporting, Audit and Shari’ah Assuranceg

Lesson 4. Global Integration in Islamic Banking: Correspondent Banking and Syndicated Financing

This module introduces Takaful (Islamic insurance) as a Shari’ah-compliant system of risk protection based on mutual assistance and shared responsibility. It examines how Islamic banks use Takaful to protect financed assets, manage operational risks, and offer Bancatakaful services as an additional source of fee-based income.

Lesson 1. Takaful, Risk Protection and Bancatakaful