On completion of this qualification, graduates will be able to:
- Display knowledge and skills that form the basis of Islamic Banking and Finance
- Identify the essential differences between conventional and Islamic Banking and Finance
- Understand the difficulty of conducting Islamic Banking in an un-Islamic environment
- Examine the unique role of the Shari’ah Board in the responsible supervision of Islamic banks
- Explain the concept of conventional insurance and the basis of takaful as an insurance scheme along with its operating features
- Identify and explain the essential elements of contracts in Islamic
- Examine the elements of accounting within a Shari’ah-compliant economic framework
- Explain and discuss issues in relation to marriage, divorce and succession in terms of Islamic Law and South African Law Entry Requirements/ Access to the qualification
What is the duration of the programme, how is it structured?
The minimum duration of this programme is one year. The programme will be delivered through a mix of distance delivery mechanisms as well as independent study required from the students. Learner support sessions will be facilitated by leading Islamic Finance and Law scholars during support workshops. All study material are to be provided.
What are the admission requirements?
- A National Senior Certificate with a minimum Higher Certificate admission or a relevant NQF4 Qualification or Equivalent
- A or O level certificates
The programme consists of the following modules:
- Introduction to Principles of Islamic Law
- Islamic Finance
- Islamic Contracts and Charitable Endowments (Waqf)
- Islamic Banking
- Islamic Risk Management and Governance
- Islamic Family Law
Why A Programme In Islamic Finance And Law?
Islamic banking and finance is the fastest growing sector in the Financial Services Industry, recording annual growth rates in excess of 15%. In South Africa initiatives to facilitate Islamic Banking and Finance have been put in place. Tax laws have been amended with a view to attracting petro dollars from the Middle East countries. South Africa can be the hub of Islamic Banking in Africa. In addition there is increased interest in Islamic Banking and Finance in Africa and Islamic Law forms the basis of this. A programme in Islamic Finance and Law will contribute to human capital development in this field.
What will I gain from this programme?
The programme is designed to provide a sound understanding of Islamic Law and Finance. The course aims to equip participants with knowledge on a wide spectrum of Islamic Finance, Banking and relevant legal issues in order to enhance understanding of the practicality of Islamic Finance , Banking and Law in a secular state.
There is a proliferation of Islamic Banks and Islamic windows in conventional banks in South Africa and throughout the world. Participants will have the basic knowledge and skills to enable them to have insights into the area of Islamic Banking, Finance and Law.
The programme will be an enriching experience to those with and without Islamic (Shariah) knowledge and to candidates from various religious denominations.