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Diploma in Islamic Banking and Finance (Level 4)

Course Overview

Diploma in Islamic Banking

Recent studies have brought to light evidence that no less than 20% of the world’s population actively seeks or already utilises Islamic banking and financial services. What’s more, this market of billions of customers spanning dozens of nations is only expected to continue growing at record-pace over the coming years and decades.  An exceptionally dynamic and potential-filled industry, Islamic banking and finance continues to represent an often-overlooked study area.  Consequently, those with the required skills, education and knowledge are finding themselves in uniquely privileged positions to take up extraordinarily rewarding posts at all levels, practically anywhere in the world.

Diploma in Islamic Banking,  gives candidates an incredible opportunity to comprehensively and intensively investigate one of the most significant areas of finance in 21st century business.  No specific prior experience or knowledge is required to gain the very most from this market-leading course, which over 14 detailed units gradually guides candidates through all essential teachings.  Course content on this Islamic Banking Course, covers the key differences between Islamic banking and conventional banking systems, along with the way in which Islamic law impacts and influences financial dealings and activities.

Successful candidates will find themselves armed with a uniquely valuable and increasingly sought-after skills-set and knowledge-base, upon which to build or advance an existing career in Islamic finance.  Career opportunities range from high level positions with existing accounting and banking groups, right through to the establishment of private corporate consultancy brands. 

Diploma in Islamic Banking: Key Course Benefits

  • Accredited Course
  • Full Tutor Support
  • Self Paced, No Fixed Schedules
  • Available to Students anywhere in the World
  • Interest Free Fee Instalments
Course Syllabus

Islamic Banking Course: Key Topics

This Islamic Banking Course,  covers the following 14 units:

Unit 1 - Introduction to Islamic Banking & Finance

The first course unit provides candidates with a broad overview of Islamic banking and finance, incorporating an overview of Islamic financial contracts, the growing demand for Islamic financial/banking services and the important prohibitions of Riba and Gharar.

Unit 2 - History of Islamic Banking and Finance

Course content in Unit 2 focuses more on the history of Islamic banking and finance, incorporating an exploration of how the industry has evolved over recent decades. How and where Islamic banks fit in and work with standard western financial institutions is discussed – candidates are also introduced to the General Council for Islamic Banks and Financial Institutions.

Unit 3 - The Philosophy of Islamic Finance

The third course unit takes a look at the industry from a more philosophical perspective, discussing the core philosophies of Islamic banking and finance while at the same time introducing a range of important alternative financing principles.

Unit 4 - The Islamic Banking Model

Course content in Unit 4 introduces the Islamic banking model, in the form of a comprehensive definition and an overview of how the model works in a contemporary business setting.  This is also the unit in which candidates fully explore how and why it is that Islamic banking differs at so greatly from conventional western banking.

Unit 5 - The Islamic Economic System

Islamic economics represent the core focus of Unit 5, in which candidates are introduced to Islamic Shari’a along with its primary objectives, followed by a broad discussion of Islamic economics and the benefits of gaining a better understanding of the Islamic economic system.

Unit 6 - Islamic Law of contract & Business Transactions

Business transactions and Islamic law of contract enter the discussion in Unit 6, which introduces candidates to the general framework of Islamic contracts, the definition of various related terms, essential contract elements and a series of rules for the validity of Mu’amala’t.

Unit 7 - Islamic Finance – Products and Procedures

The Islamic banking structure is discussed in-depth throughout the seventh unit, along with a wide variety of important Islamic financial products and procedures.  Candidates are provided with an overview of Islamic financial institutions, along with a comparison of conventional and Islamic financial products.

Unit 8 - Murabaha and Musawamah

The eighth course unit introduces the two crucially important Islamic negotiation techniques of Murabaha and Musawamah.  Candidates explore the subtle yet crucially important differences between the bartering techniques of each, along with their origins and relevance in a contemporary business setting.

Unit 9 - Salam and Istisna‘a’

Course content in Unit 9 introduces candidates to a series of core concepts cantered around Salam and Istisna‘a’, including an investigation of the Valid Salam Contract, Salam-Post Execution Scenarios, Salam-Based Securitization-Salam Certificates/Sukuk and Istisna’a.

Unit 10 - Ijarah – Leasing

The use and relevance of Ijarah represents the core focus of Unit 10, which discusses the key specifics and general Juristic rules of Ijarah. How Ijarah relates to the modern Islamic banking and financial system is explored, along with the very brief introduction to Takaful.

Unit 11 – Takaful

Course Unit 11 then continues with a much more in-depth investigation and analysis of Takaful, incorporating a comparison between Takaful and conventional insurance, the primary purpose of the Takaful system and a series of Takaful models.

Unit 12 - Loan & Debt in Islamic Banking

Course content in Unit 12 centres on loans and debts in Islamic banking, incorporating an exploration of Holy Qur'an guidance on the subject along with the potential risks and rewards associated with loans and debts. Security/Guarantee (Kafalah) is also introduced, along with how inflation can impact loans and debts.

Unit 13 - Islamic Business Ethics

A variety of core ethical considerations and concepts relevant to Islamic business are introduced in Unit 13.  Candidates are introduced to several sub-topics including mutual cooperation, fair pricing, free marketing, prohibition of Najash and freedom from Dharar.

Unit 14 - Globalization of Islamic Banking

Islamic banking and finance on a global basis represents the primary core focus of the final course unit, which guides candidates through several key contemporary international Islamic financial institutions including the Islamic Financial Services Board and the International Islamic Rating Agency. 

Fee & Payment Options
Paying in Installments: £560 (interest FREE Installments)
Deposit: £104
No of Installments: 12
Each Installment: £38
Pay in Full: (£100 Discount) £460

At the end of this course successful learners will receive a Certificate of Achievement by ABC Awards and a Learner Unit Summary (which lists the details of all the units you have completed as part of your course).

The course has been endorsed under the ABC Awards’ Quality Licence Scheme. This means that Brentwood Open Learning College have undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria. The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future. The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector. To this end the learning outcomes of the course have been benchmarked at Level 4 against level descriptors published by Ofqual, to indicate the depth of study and level of difficulty involved in successful completion by the learner.

The course itself has been designed by Brentwood Open Learning College to meet specific learners’ or employers’ requirements. ABC Awards’ endorsement involves a robust and rigorous quality audit by external inspectors to ensure quality is consistently met. A regular review of courses is carried out as part of the endorsement process.

What is ABC Awards?

ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government. They have a comprehensive portfolio of over 650 Ofqual regulated qualifications on the national Qualifications and Credit framework (QCF). It has a long-established reputation for developing and awarding high quality vocational qualifications across a wide range of industries. As a registered charity, ABC Awards combines 180 years of examination and assessment expertise but also implements a responsive, flexible and innovative approach to the needs of our customers.

Renowned for excellent customer service, and quality standards, ABC Awards also offers over 600 Ofqual regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.

Career Path

A recognised Islamic banking qualification will ensure you stand out from the crowd as a potential candidate for employment. With your new credentials, you may pursue the position of private banking consultant, accountant, freelance accountant, financial adviser, financial associate and various positions in management – salaries ranging from £20,000 to £100,000+ for future executives. 

Who Should Take This Course?
  • Financial workers looking to branch out into new areas
  • Candidates interested in secure and rewarding financial careers
  • Anyone interested in pursuing employment at home and abroad
  • Existing workers with no formal financial qualifications
  • Candidates looking to stand out from the crowd
  • Anyone looking to enhance their CV 

Related Links:

Certificate in Islamic Banking & Finance (Level 3)

Diploma in Accounting and Finance (Level 4)

Certificate in Accounting and Finance (Level 3)

Course Level
Level 4

Awarding Body
ABC Awards

Study Method
Online Learning

Course Duration
260 Hours Approx.

Entry Requirements
No Entry Requirements

Start Date

  • Our most advanced Islamic Banking course
  • Explore the history and philosophy of Islamic finance
  • Find out why Islamic banking is considered of such enormous importance
  • Study loan and debt in Islamic banking
  • Prime yourself for an incredible career 

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Course Cost

£ 460

£ 560

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