Islamic banking courses at AIMS are designed to produce highly skilled professional who can manage the Islamic finance products and services. This Islamic finance qualification keeps a balance between studies and experience.




Globally accredited mba islamic finance is a 100% online islamic finance degree, and lectures are delivered through flexible learning system. Masters in Islamic banking and finance is ideal for bankers and finance professionals, who are seeking career and growth in Islamic finance industry.

What is Islamic Banking?

Islamic Banking Concepts

Banking is a concept that has been used in our society in different form and shapes. The history of banking is as old as 2000 BC when there were trading system and the gold coins. There are different banking systems in the world but the most famous ones are conventional banking and the Islamic banking. The main function of conventional bank can be summed up in one sentence: The banks borrow to lend. They borrow in the form of deposits and lend this money to earn interest. In contrary, Islamic banking system is based on the principle of partnership. In Islamic banking, the shareholders, the depositors and the borrowers-all would participate on profit-loss sharing basis. Here you will get the complete information about what is Islamic banking and is it really Islamic?

Introduction to Islamic Banking

Islamic banking is a finance management system that is based on the Islamic rules of Sharia. The main concept of the Islamic banking is the prohibition on collection of interest and its utilization for the business purposes. Banking in Islam is a saving money framework that depends on the standards of Islamic law, additionally known as Shariah law, and guided by Islamic financial matters. Two fundamental standards behind Islamic banking concepts are the sharing of benefit and misfortune. Gathering interest or Riga isn’t allowed under Islamic law.

Islamic banking concepts have an indistinguishable reason from traditional managing an account aside from that it works as per the guidelines of Shari’ah, known as Fiqh al-Muamalat. Banking in Islam as an account exercises must be polished reliable with the Shari’ah and its pragmatic application through the improvement of Islamic financial aspects. A significant number of these standards whereupon banking in Islam is based are regularly acknowledged everywhere throughout the world, for quite a long time as opposed to decades. These standards are not new but rather their unique state has been changed throughout the hundreds of years.


what is Islamic banking

Islamic Accounting – its Principles & Comparison with Conventional Accounting


Islamic Accounting

The accountants who have been brought up with the knowledge that accounting is a technical, value-free and objective discipline. And, it is hard to accept when the same idea is connected with some religious principles, such as accounting in Islam. As a matter of fact, Islamic society operates under different principles and assumptions. While operating a business, they have the role of stewardship toward society. Similarly, guidelines of the Shariah also have defined duties towards employees, customers and competitors. That is why, objectives of Islamic accounting are different from those of conventional accounting. Here are the two main reasons:

  • Islamic banks deal within a Shariah framework. As a result, the nature of their transactions is different from that of conventional banks.
  • The users of the information generated by Islamic financial institutions have different needs from the users of the information published by conventional institutions.
Islamic accounting
accounting in Islam


Takaful Meaning, Principles and its Comparison with Conventional Insurance

Unforeseen events and emergencies can happen to anyone. It can lead to the loss of a loved one or some prized possessions. Humans have always been planning for their future. In order to protect ourselves from such situation and assure that we will get some financial support, we buy insurance. There are different types of insurance policies but the one known in Islam is Takaful or Shariah Insurance. Takaful meaning is providing guarantee in an Islamic way.


Takaful Definition:

It is a type of insurance system in Islam that is based on the laws of Sharia or Islamic principles. It is a system in which money is pooled and invested. It is a mutual risk transfer arrangement in which both parties will share the profit and loss equally. Here we have everything you need to know about it.

Principles of Takaful in Islam:

The main ideology of Takaful is to bear other person’s burden and there is no profit in this system. Some of the important principles of takaful are as follows:

  • For the common good the policyholders will corporate with each other.
  • The contribution of the policyholders is considered donations.
  • To help those who need assistance, all their policyholders will pay their share.
  • The liabilities are shared according to the pooling system of the community and losses are divided.
  • According to compensation and subscription, there is no uncertainty.


Islamic Investment Funds and Islamic Mutual Funds – Principals & Comparison

Islamic Investment Funds and Islamic Mutual Funds

When you want to invest in a proper manner, you have to do all you can in order to figure out the right Islamic investment funds that will suit your needs. While there are many challenges to overcome, the reality is rather simple. All you have to do is to help the Islamic community grow and one of the best ways you can use to achieve such a result is to focus on the Islamic investment funds and Islamic mutual funds. These allow you to invest in dedicated companies in the Islamic world that actually need those funds needed to survive.

islamic mutual funds

Is there a difference between the Islamic investment funds and the Islamic mutual funds?

The prime difference here is that the Islamic mutual funds allow multiple investors to work together in order to complete this task. This is rather impressive and it can bring in front some very nice results. However, if you want to invest on your own and not split any profits, the Islamic investment funds should be right up your alley. You do have the Shariah compliant investment funds and the Shariah compliant mutual funds that you can use here. The idea is to find the ones that suit your needs and results can indeed be great in the end, that’s for sure!

How are they different from conventional funds?

Conventional mutual funds and the investment funds tend to be focused on just about any type of investment. You don’t have any particular things that will stop you. The idea is that you can invest in anything you want and get the profits fast and easy. It sounds great, but if you want to help the local community, this will not be for you. This is why the Islamic investment funds and the Islamic mutual funds are very popular. They can help you get the right value and experience all the time, which in the end will work to your own advantage. Definitely worth your time and the outcome can be a very good one.

Plus, the great thing is that you can invest in the local community and help Islamic companies grow. This is very important, because there are many companies which are in dire need of help and you are the best one to provide that help to them at all times!

Why the demand of these funds is growing worldwide?

As you know, there are many Islamic communities all over the globe. With help from this type of investment funds, you get to eliminate the hassle and focus on what really matters. You have the unique opportunity to deliver the financial influx that Islamic companies need. All you need to do is to access the Shariah compliant investment funds and the Shariah compliant mutual funds. Do that, focus on results and the experience can be second to none for sure!

Should you consider investing in these funds?

So, don’t hesitate and start investing in the Islamic investment funds as fast as possible. Just consider that, focus on value and you will be able to help the local community grow very fast. This is very important and it provides you with a great set of benefits in this regard. If you want to learn more about Islamic banking and financial system, you may choose to study diploma in Islamic banking – an internationally recognized professional development program. This program comprises of well-structured Islamic finance and Islamic banking courses.


Why Become a Certified Islamic Banker to Increase Career Prospects?

How to Increase Career Prospects in Islamic Finance Profession?

Islamic Banking sector is distinctive and a popular area of finance that has become a force to be reckoned with in the international forum. According to the World Bank report for future Islamic Banking competitiveness predictions, there is a good chance that in the next twenty years, Islamic Banking will top the charts as the world’s leading system of finance and banking. The industry faces a growth rate of 15-20% per annum and we all know what that means, more resources and better opportunities for Certified Islamic Bankers. Many study programs, for example Certified Islamic Banker is designed for finance professionals, and it may be achieved online by studying Islamic banking courses and Islamic finance courses.

certified islamic banker

What is Islamic Finance?

Well, that’s easy. The world has evolved in several ways in the past hundred years and as the economic structures of different countries grow complex day by day, many interested in attaining their place in the decision-making arena of banking and finance are facing a unique market that has risen out of religious contexts. Islamic Finance is a system that covers the area of banking and finance based on the Muslim Shariah Law. This law discourages the payment of interest upon loans and therefore adding a whole new dimension to Banking.

Why is becoming a Certified Islamic Banker a promising idea?

According to ratings by Standard and Poor’s, the total number of assets in the possession of Shariah compliant institutions amount to $4 trillion. That is a number worth looking at for many professionals in the field who would like to take an interest in learning more about Islamic Finance. This system’s impressive performance in the past recessionary periods has also lead to Western Banks opening their own Islamic windows. Adding to this, Islamic banking is equity based, sustainable and an environmentally and socially responsible way of financing. The best part is, it’s not only restricted to Muslims but people from all walks of life.

What are the Qualifications needed?

A global qualification has been established from both a Shariah and technical perspective that provides the one’s seeking job security in the market to not face any unnecessary problems. One can study the Islamic finance courses online and it could be completed in three to four months. This leads to them being awarded with a Certified Islamic Finance Expert (CIFE) and Certified Islamic Banker (CIB) certifications. Islamic banking courses can be learned online by AIMS, who have made it easier for anyone wanting to go in the field.

“Takaful, pension funds, wealth and fund management – this is the future for Islamic Finance”, said Haris Ahmed, director of Academy for International Moderns Studies (AIMS). Many of the options given to us now include the option to focus our energy on choosing to become Certified Islamic Banker as the prospects in the future for the industry are rapidly growing and with a good conscience. Socially acceptable and fundamentally monitored by sacred law, Islamic Finance is creating better career prospects in the world we live in as we speak.

Islamic Economic System and Its Characteristics

The fundamentals of the Islamic economic system start with the differences it has with the capitalistic, communistic, socialistic, and other mixed types of economic engines that have existed over the past centuries. Islamic economics incorporates at least seven major characteristics that in some ways mirror their capitalistic and socialistic counterparts, but are still unique and vibrant to the economic system of Islam.

The system itself consists of organizations, institutions, and social values that exemplify the production, exchange, and consumption of goods and services. Those who follow Islam are encouraged to lead a life of material gain in a way that it shows respect for others, makes their place secure in the world, and provides a source of happiness for their families.

2017-09-19 Blog Islamic-economic-system