What Will Learn?
Islamic banking refers to a system of banking or financial services that is based on principles derived from Islamic law (sharia) and the principles of Islamic economics. One of the key principles of Islamic banking is the prohibition of riba, or the charging of interest on loans. Instead, Islamic banks use profit and loss sharing mechanisms to finance business ventures and other activities.
Some of the products and services offered by Islamic banks include and will be covered in this course: Murabaha, Musharaka, Ijara, Sukuk, Zakat and Takafol
Islamic banking products and services are available in Islamic banks and Islamic windows operated by conventional banks. However, awareness of Islamic banking products and services has been low. The stability of any economy is dependent on the performance of the financial sector. The financial sector functions as an engine to the economy linking units to deliver goods and services to the people. Islamic banking works on a concept of free interest and it is practiced according to the Sharia Law whose source is from the Quran. This study analyzed consumer awareness level towards Islamic banking products and services. A sample of 140 respondents from different cities in South Africa was selected. Descriptive statistics and a binary logistic model were used to analyze the responses. The results indicated that gender, age, race, and qualification were statistically significant in influencing the awareness of consumers. Further, the findings note that there is a lack of understanding of the principles of Islamic Banking. This is a 4-credit-hour course and allotted 6 weeks of time.
Advanced Islamic Banking: Products and Services
Awareness of Islamic banking products and services is relatively low. Islamic banking products and services are somewhat different compared to conventional banking products and services. Most people who’ve never been to an Islamic bank are usually not aware of these differences.
Since Sharia Law governs Islamic financial institutions, you will never see interest-based loans granted to business people. Anyone eligible for a loan will not have to pay any interest on it whatsoever. Sharia Law does not believe that banks should profit from charging interest on the loans they approve. Instead, Islamic banks generate profits through something called equity participation. This means the borrower must pay a portion of their company’s profits back to the bank.
Advanced Islamic Banking: Products and Services is a four-credit course toward the Accelerated Ethereal Master in Islamic Finance and Banking Degree program at American International Theism University. The course will educate you on the products and services of the Islamic banking industry. These products and services are available at Islamic banks, but there are also conventional banks that have Islamic windows where people can obtain them as well. You will learn about that and so much more.
The stability of any economy is dependent on the performance of the financial sector. The financial industry functions as an engine for the economy by linking units to deliver goods and services to people. Islamic banking works on a concept of free interest, and it is practiced according to the Sharia Law, which is described in the Muslim holy book known as the Quran.
As a student of our Islamic Finance and Banking Degree program, we want you to become familiar with Islamic banking products and services. If you ever get a job in an Islamic financial institution, you will likely be selling these products and services to your customers. It is better to have prior knowledge of them before applying for a banking job in the Middle East. That way, employers will be happy they won’t have to educate you about it themselves.
This is a 4-credit-hour course with six weeks allotted to complete it. It is a 100% online course, so attend class on your own time.
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American International Theism University is a Religious institution that meets the requirements found in Section 1005.06(1)(f), Florida Statutes and Rule 6E-5.001, Florida Administrative Code are not under the jurisdiction or purview of the Commission for Independent Education and are not required to obtain licensure.
The title of AITU-issued degrees incorporates a religious modifier inside any of the accompanying degrees to consent to the Florida Department of Education, Commission for Independent Education Section 1006.06 ((1) (F): For instance, Associate of Arts, Associate of Science, Bachelor of Arts, Bachelor of Science, Master of Arts, Master of Science, Doctor of Philosophy, and Doctor of Education.
AITU offers educational programs that prepare students for religious vocations as ministers, professionals, or laypersons in ministry. Our programs include counseling, theism, education, administration, music, fine arts, media communications, or social work.
There are a variety of educational programs available at American International Theism University for students to join. These programs are designed to prepare students for real-life job experiences in their fields of choice. The majors available include Islamic Studies, counseling, social work, education, banking, finance, or business management. Students can choose to major in Grief Counseling, Education, Islamic Finance, or Business Administration for their degree programs.
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