PhD in Islamic Finance

PhD Islamic finance is a research-based program that helps candidates to secure a high position at top tier organizations. The doctorate degree produces scholars, who are competent to work in a variety of areas in Islamic banking and finance. PhD in Islamic banking and finance is accredited globally, and it is offered Full-Time / Part-Time through distance learning.
www.aims.education/phd-islamic-finance-and-banking/

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7 Major Principles of Islamic Banking and Finance

7 Major Principles of Islamic Banking and Finance

Islam has set values and goals that meet all the economic and social requirements of the human life. Islam is a religion that not only focuses on the success of the afterlife but also organza the life of a person perfectly. The Islamic laws are known as Sharia that means clear path. In the present is banking system is against the principles of Islamic banking. Due to the reason, here we discuss the seven major principles of Islamic Banking and finance:

principles of Islamic banking

1. Profit and Loss Sharing:

It is one of the best principles of Islamic finance where the partners will share their profit and loss according to the part they played in the business. There will be no guarantee on the rate of the returns that the Muslims will play the part of a partner and not a creditor.

2. Shared Risk:

In the economic transactions, the risk sharing is promoted by the Islamic banking. When two or more parties will share the risk following the principles of Islamic banking the burden of the risk will be divided and reduced in the parties. So it will improve the economic activity of the state.

3. Riba:

It can be regarded as the prohibition of interest:

  • The wealth will get the return without any risk or effort.
  • Regardless of the outcome of economic activity the person who gets the loan has to return the money and Riba to the lender.
  • In principles of Islamic banking, taking advantages of the issues that other are facing is unjust.

4. Gharar:

According to the Islamic finance principles, Muslims are not allowed to participate in the ambiguous and uncertain transactions. According to Islamic rules, both parties should have a proper control over the business. As well as the complete information should be shared with both parties so that the profit and loss will be equally shared.

5. Gambling:

In Islam, the acquisition of wealth through evil means or participation in gambling is prohibited. It will protect the Muslims from the conventional insurance products because that is a type of gambling. On the other hand, Islamic banking works in Takaful that involves mutual responsibility and shared risks.

6. No Investment in Prohibited Industries:

The industries that are harmful to society or have a threat to the social responsibilities are prohibited in Islam. They include:

  • Pornography.
  • Prostitution.
  • Alcohol.
  • Pork.
  • Drug.

According to the Islamic finance principles, you are not allowed to invest in such industries. You cannot even participate in the mutual funds that will help the industry to flourish.

7. Zakat:

There is a property tax included in the rules of Islam that it known as Zakat, which allows the balanced distribution of wealth. According to the Islamic banking principles the fair amount of Zakat is deducted from the accounts of Muslim in the holy month of Ramadan. Islamic banks promote this social responsibility and distribute the amount among the needy.

Conclusion

So we can say that the principles of Islamic finance guide us to invest in an industry that will help us to achieve the financial and social objectives that have been determined by Islam. The Islamic finance principles have been designed to make an economy successful. So it is a way of saving our money from being invested in a wrong path. Principles of Islamic finance are discussed in more details during diploma in Islamic banking programs, offered by institute of Islamic banking and finance at AIMS.

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Source: http://www.aims.education/islamic-finance-blog/principles-of-islamic-banking/

MBA Islamic Finance – Accredited Online Islamic Finance Degree AIMS UK

http://soundcloud.com/aimseducation/mba-islamic-finance-degree-aims-uk

Introduction to globally accredited mba islamic finance degree from AIMS (http://www.aims.education/islamic-banking-and-finance-mba-masters-degree/). It is a 100% online islamic finance degree, and lectures are delivered through flexible learning system. MBA in Islamic banking and finance is ideal for bankers and finance professionals, who are seeking career and growth in Islamic finance industry.

Top 3 Islamic Banking Courses

These days Islamic Banking is seeing a surge in its popularity as people recognize its true importance. There are lots of courses one can take to be a certified Islamic finance expert. However, with the number of courses available, one has to wonder which one is the best. So, let’s compare some of the courses which are most popular and try to establish which Islamic banking courses are most worth your time and money: 

1. Ease of Learning

​When you set out to gain a certification, you need to look at the time you will have to invest in it. This means the time you will spend studying, doing assignments and giving exams. While all Islamic Finance Courses are distance learning based, there are some which give you a better learning opportunity than the other ones. The CIMA certificate for Islamic Finance gives candidates course material which they have to study on their own. The institute of Islamic Banking and Insurance is a little better since along with course material, they also assign tutors who are there from time to time to answer your questions and record your milestones. While AIMS has interactive online lectures as well as 24/7 support available from seasoned professionals. Ethica has no experts on board but provides study guides to candidates.

2. Curriculum

The curriculum for the Islamic Finance Courses by CIMA is only in the form of study guides and supplementary material; this means that there are other textbooks which have to be referred to and same is the case with Ethica. The Islamic Finance Courses by the Islamic Institute of Bank and Insurance is not as extensive as it should be as the course barely touches all of the things which a certified Islamic finance professional should know about. While AIMS provides all of the course material as well as having a faculty available at all times for students’ questions.

3. Recognition

One of the most important things to consider when getting any sort of certification is to know about the recognition of the certificate. With Islamic Banking Courses or Islamic Finance Courses, you need to make sure that the degree you are getting is worth something. CIMA and IIBI are accredited worldwide. The Ethica is a fairly new institute and does not have enough recognition. And AIMS has been doling out certifications for more than a decade, is a registered learning provider and  hence their degree are a solid investment

4. Cost

The course by CIMA costs GBP 990-1000 depending on the course you teach and only provides study guides apart from attempts to appear for an exam. The course by Islamic Institute of Bank and Insurance costs GBP 525 but there are extra charges for extensions. The degree by AIMS costs a flat GBP 695 and covers everything from registration, to course material to academic support. And Ethica charges USD 1800 for the entire course.

5. Experts and Academics

Distance learning courses have the downside of students having to study themselves. While CIMA provides no expert help who you can send queries to, AIMS and Islamic Institute of Bank and Insurance have experts on board to ask your questions. Islamic Institute of Bank and Insurance has experts who are available at sometimes while with AIMS, the experts are always available. Ethica can only connect you with alumni and does not have actual teachers. 

Conclusion

​Hence, when looked at all across the spectrum, the best place to get study Islamic finance courses is AIMS; with their competitive pricing, 24/7 expert support, comprehensive course material and more. 

from Islamic Banking & Finance Courses – New Trends – Blog http://islamicbankingcourses.weebly.com/blog/top-3-islamic-banking-courses-comparing-their-key-features
via Islamic Banking Courses

Top 3 Islamic Banking Courses

These days Islamic Banking is seeing a surge in its popularity as people recognize its true importance. There are lots of courses one can take to be a certified Islamic finance expert. However, with the number of courses available, one has to wonder which one is the best. So, let’s compare some of the courses which are most popular and try to establish which Islamic banking courses are most worth your time and money: 

1. Ease of Learning

​When you set out to gain a certification, you need to look at the time you will have to invest in it. This means the time you will spend studying, doing assignments and giving exams. While all Islamic Finance Courses are distance learning based, there are some which give you a better learning opportunity than the other ones. The CIMA certificate for Islamic Finance gives candidates course material which they have to study on their own. The institute of Islamic Banking and Insurance is a little better since along with course material, they also assign tutors who are there from time to time to answer your questions and record your milestones. While AIMS has interactive online lectures as well as 24/7 support available from seasoned professionals. Ethica has no experts on board but provides study guides to candidates.

2. Curriculum

The curriculum for the Islamic Finance Courses by CIMA is only in the form of study guides and supplementary material; this means that there are other textbooks which have to be referred to and same is the case with Ethica. The Islamic Finance Courses by the Islamic Institute of Bank and Insurance is not as extensive as it should be as the course barely touches all of the things which a certified Islamic finance professional should know about. While AIMS provides all of the course material as well as having a faculty available at all times for students’ questions.

3. Recognition

One of the most important things to consider when getting any sort of certification is to know about the recognition of the certificate. With Islamic Banking Courses or Islamic Finance Courses, you need to make sure that the degree you are getting is worth something. CIMA and IIBI are accredited worldwide. The Ethica is a fairly new institute and does not have enough recognition. And AIMS has been doling out certifications for more than a decade, is a registered learning provider and  hence their degree are a solid investment

4. Cost

The course by CIMA costs GBP 990-1000 depending on the course you teach and only provides study guides apart from attempts to appear for an exam. The course by Islamic Institute of Bank and Insurance costs GBP 525 but there are extra charges for extensions. The degree by AIMS costs a flat GBP 695 and covers everything from registration, to course material to academic support. And Ethica charges USD 1800 for the entire course.

5. Experts and Academics

Distance learning courses have the downside of students having to study themselves. While CIMA provides no expert help who you can send queries to, AIMS and Islamic Institute of Bank and Insurance have experts on board to ask your questions. Islamic Institute of Bank and Insurance has experts who are available at sometimes while with AIMS, the experts are always available. Ethica can only connect you with alumni and does not have actual teachers. 

Conclusion

​Hence, when looked at all across the spectrum, the best place to get study Islamic finance courses is AIMS; with their competitive pricing, 24/7 expert support, comprehensive course material and more. 

from Islamic Banking & Finance Courses – New Trends – Blog http://islamicbankingcourses.weebly.com/blog/top-3-islamic-banking-courses-comparing-their-key-features
via Islamic Banking Courses