The Post Graduate Diploma course in Islamic Banking and Insurance is a distance-learning course comprising of Six modules, offering the opportunity to study at home and at their own pace and respond to questions which are given at the end of each lesson. Each module builds up on the knowledge of the previous one. The questions at the end of each lesson are designed to test the understanding of the basic concepts which have been explored within the lessons. Details may be viewed in the Course Syllabus section. To qualify for the Institute’s Post Graduate Diploma, a student must successfully complete all the six modules.

The Post Graduate Diploma assumes no previous knowledge of banking or finance. Neither does it assume any previous knowledge of Islam. It aims at building the knowledge of both Islam economics principles and working knowledge of banking from the beginning while also helping to understand how the broad principles of Islamic finance, which can also be found in other faiths, differ from conventional finance.

The Post Graduate Diploma does not support any particular creed or promote religious doctrine. For all purposes it aims at encouraging the basis for the evolution and progression of Islamic finance through the implementation of the universal principles of socio-economic justice. Islamic finance is now being practiced globally in many secular and non-secular countries.

Islamic banking and insurance is still in a development stage and new ideas, products and solutions are continually emerging as a result of research conducted by dedicated Shari’ah scholars, economists, jurists, bankers and other professionals engaged in Islamic finance in various part of the world. In the light of the continuing research and development the Institute may add or substitute topics/lessons in the course and update the course content periodically.

Learning Outcome
The course has been developed to meet the present and future staffing needs of the Islamic finance industry globally. The course aims to equip persons with the knowledge and understanding of the principles and practice of Islamic banking and insurance.

Registration
To register for the course, an applicant is required to apply on the Institute's Application Form provided on the website and post/email the completed form to the Institute. If the application is accepted, the Institute will inform the applicant of his/her acceptance, the course fee and payment details. On receipt of the course fee the applicant will be enrolled and allocated a registration number and a assigned tutor.

Entry Requirement
The basic entry requirement for the course is a university degree and a good working knowledge of English. However, applicants without a university degree but having minimum three yeas professional experience in the relevant field may be enrolled by the Institute at its discretion. There is no upper age limit but persons below eighteen years of age are not eligible.

Course Material
The Six modules comprised in the course cover a total of 33 separate lessons followed by questions where appropriate. The Institute will mail the starter set on receipt of payment of the course fee.

The starter set comprises of the first installment (module 1 in hard copy) in a high quality hard binder which can be used to file all the lessons and a letter to the student. It will also include a glossary and a comprehensive bibliography on Islamic banking and insurance and a list for recommended reading.

Subsequent modules with further lessons will normally be sent by e-mail after you have submitted the lessons of the previous module until all six modules in the course are completed.

METHOD OF LEARNING

The course is based on the “distance learning” method. In this method, the course material is sent to the student by post and e-mail. Students can study in the comfort of their own home, at their own pace and according to their convenience. As such, the course need not interfere with their existing work obligations. However, to successfully complete a distance learning programme while doing a full time job requires drive and determination.

Another advantage of the distance learning method is that the course can be studied anywhere in the world and does not require the student to attend formal classroom lectures, commute to educational institutions or live in halls of residence. The cost of distance learning courses is therefore substantially less than the courses held at the traditional colleges and universities. It is an extremely cost effective approach to education.

To qualify for the post graduate diploma, a student must successfully complete all the six modules. On successful completion of the course the Institute will award its diploma and also accept the student as a Member in the ASSOCIATE FELLOW GRADE

Submission of Assignments
Answers to question provided with the lessons submitted by e-mail to the tutor for evaluation. The answers need not be detailed and lengthy but must convey a clear understanding of the subject matter.

Study and Completion of Course
The course should be completed in 12 months however, the minimum period is 6 months. If further extension is requested then the Institute may agree to extend the period at its discretion and/or upon payment of an appropriate administration fee. An average of 20 hours a week is recommended for study and submission.

Tutor Assessment and Support
There is no examination. Progress is assessed throughout the course by a personal tutor nominated by the Institute from answers submitted to questions provided at the end of each lesson, where appropriate. The tutor is also available to answer any queries or provide clarification as well as any assistance on matters relating to the course subjects and recommended reading list.

"Islamic banking opens a new possibility for Western banks to co-operate with Islamic banks in gaining new customers through new products. The course was useful and informative because it was the best way to get basic knowledge in this area from where we can build up. The knowledge gained from the Diploma Course shall help in expanding my financial horizon."
Dr. Eric Hirsch
Head of Dept. of International Finance Products
Verensbank AG,
Germany

"The institution has developed knowledge based courses modules, publications which have been instrumental in increasing the knowledge, depth of vision and ways to improve the system of Islamic banking. Now I feel that I am better eqipped to exercise new experiments for the betterment of putting the clear concept of Islamic banking into practise by developing the new products of assets/liabilities side."
Aftab Siddiqi
Vice President, Head Islamic banking
Pakistan

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