International Open University

> Riba Buster

Riba Buster

Introduction to Islamic Finance

This course is design to familiarize the students with the key concepts of the Islamic finance and introduce them to the different terminologies, their meanings and interpretations in the light of the Islamic commercial law and the Islamic finance.

Why Introduction to Islamic Finance?

Money is an important and integral part of our everyday lives. Entering the world of banking can bring blessing or punishment. Hence, every Muslim should know at least the basic principles, which will help him/her understand the key differences between Islamic and conventional banking. The given introductory knowledge on Islamic finance will allow attendants to understand the correct view on riba and provide an inside view into the profits of the Islamic and the conventional banks.


The following components will be covered over the duration of the one-month course:

  1. Basic Components of Sharia
  2. Islamic Finance Philosophy
  3. Products under the Islamic Commercial Law
  4. Risk Management in the Islamic Finance
  5. Challenges of the Islamic Finance

The course will consist of one-hour session 3 times a week over a period of one month. The course will involve live online class sessions with the instructor, classroom assignments, video references and a final project followed by a quiz. Recordings of the class sessions will be provided to the students.

For whom?

This course is open to anyone interested in the subject. Furthermore, the following groups of people will greatly benefit from the gained knowledge:

  1. Anyone who is currently a conventional banker and wishes to introduce himself to the basics of the Islamic finance in order to further their career in the field of Islamic banking and finance.
  2. Anyone who is a student of finance and wants to pursue higher studies in the field of Islamic finance.
  3. Students from any stream of specialization (Marketing, Finance, HR, IT) since the Islamic financial institutions are full-fledged organizations hiring people from diverse streams. Hence, enhancing one’s knowledge with the basic Islamic finance knowledge will work to one’s advantage.
Starting 13th February 2015
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