What Will Learn?

Islamic banking products and services are available in Islamic banks and Islamic windows operated by conventional banks. However, awareness of Islamic banking products and services has been low. The stability of any economy is dependent on the performance of the financial sector. The financial sector functions as an engine to the economy linking units to deliver goods and services to the people. Islamic banking works on a concept of free interest and it is practiced according to the Sharia Law whose source is from the Quran. This study analyzed consumer awareness level towards Islamic banking products and services. A sample of 140 respondents from different cities in South Africa was selected. Descriptive statistics and a binary logistic model were used to analyze the responses. The results indicated that gender, age, race, and qualification were statistically significant in influencing the awareness of consumers. Further, the findings note that there is a lack of understanding of the principles of Islamic Banking. This is a 4-credit-hour course and allotted 6 weeks of time.

Advanced Islamic Banking: Products and Services

Awareness of Islamic banking products and services is relatively low. Islamic banking products and services are somewhat different compared to conventional banking products and services. Most people who’ve never been to an Islamic bank are usually not aware of these differences.

Since Sharia Law governs Islamic financial institutions, you will never see interest-based loans granted to business people. Anyone eligible for a loan will not have to pay any interest on it whatsoever. Sharia Law does not believe that banks should profit from charging interest on the loans they approve. Instead, Islamic banks generate profits through something called equity participation. This means the borrower must pay a portion of their company’s profits back to the bank.

Advanced Islamic Banking: Products and Services is a four-credit course toward the Accelerated   Master in Islamic Finance and Banking Degree program at American International Theism University. The course will educate you on the products and services of the Islamic banking industry. These products and services are available at Islamic banks, but there are also conventional banks that have Islamic windows where people can obtain them as well. You will learn about that and so much more.

The stability of any economy is dependent on the performance of the financial sector. The financial industry functions as an engine for the economy by linking units to deliver goods and services to people. Islamic banking works on a concept of free interest, and it is practiced according to the Sharia Law, which is described in the Muslim holy book known as the Quran.

As a student of our Islamic Finance and Banking Degree program, we want you to become familiar with Islamic banking products and services. If you ever get a job in an Islamic financial institution, you will likely be selling these products and services to your customers. It is better to have prior knowledge of them before applying for a banking job in the Middle East. That way, employers will be happy they won’t have to educate you about it themselves.

This is a 4-credit-hour course with six weeks allotted to complete it. It is a 100% online course, so attend class on your own time.