Certificate Course in Islamic Economics & Finance (CIEF)


Earning in a halal way is a must for all the Muslims which is not possible without the proper knowledge of halal and haram. That’s why IFAC has arranged a Certificate Course in Islamic Economics & Finance to educate the people with all the necessary concepts which will enable them to avoid the haram spread around them. 

Course at a glance: 

  • Course Duration: 4 months
  • Number of classes: 24 (two semesters)
  • Class duration: 2 hours
  • Class time: 9:30 – 11:30 AM

Who is this course for?

  • Those who are interested in research in Islamic finance or banking in future
  • Businessman/Service Holder
  • Students who want to maintain their life in a halal way
  • Islamic Banker who want to make Islamic banking more Shariah Compliant
  • Students or running students of Ifta department who want to be skillful in Fiqhul Muamalat
  • Students of Dawrah and Meshkat

What you will learn:

Semester One

  • The necessity of keeping the economic activities clear and the importance of doing those according to the Shariah alongside performing Namaz (Salat) and Roja (Sawm).
  • The most common sources of Haram income and the severity of negative sides of those income.
  • The most common and the best Halal income sources.
  • The alternatives to Haram income sources which are common in our society and how to help people (especially who are involved in Haram income activities) by guiding them towards earning in Halal ways.
  • Have a clear concept on “Riba” (Interest).

Semester Two

  • Basic principles of a rightful buy-sell agreement.
  • Shariah rulings for general banking.
  • Islamic banking framework
  • Shariah explanation of Islamic Insurance and Conventional insurance.
  • Shariah rulings regarding capital market and Sukuk,

Features of this course

  • This program is recognized by AAOIFI for 15 CPD Hours.
  • Students will be provided with course materials based on authentic references from Quran, Sunnah, and other authoritative sources such as Shari’ah standards in Islamic Finance from AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions).
  • Providing elaborated discussion on both theoretical and practical applications of Islamic finance.
  • Using PowerPoint Presentation slides for lectures.
  • Providing carefuly organized and printed Lecture Sheets for each and every classes.
  • Open question-answer sessions.
  • Networking with senior professionals working currently in Islamic Finance industry.