Professional Diploma in Islamic Finance and Digital Banking (FinTech)
Islamic and Economic Studies / Islamic Finance and Financial Technology — Novera University
1. Program Overview:
An accredited professional and applied program extending over 3 months (80 hours of approved study load), aimed at qualifying financial experts, banking professionals, Shariah consultants, and entrepreneurs to understand and apply modern Islamic financial transactions and integrate them with the latest financial technology (FinTech) and digital banking technologies. The program covers the foundations of Islamic economics and financial transactions, structuring banking finance and investment contracts, liquidity management, sukuk markets and investment funds, digital banking applications and crowdfunding platforms, Shariah rulings on cryptocurrencies, blockchain and smart contracts, and standards of Shariah governance, supervision, and auditing in accordance with AAOIFI standards.
2. Key Objectives:
- Jurisprudential and economic grounding of transactions: mastering the universal jurisprudential rules governing financial transactions, the controls prohibiting riba, gharar, and monopoly, and understanding the theory of contract and ownership in Islam.
- Structuring banking and investment products: mastering the mechanisms and structuring of contemporary finance and investment contracts (Murabaha, Mudarabah, Musharakah, Ijarah, Istisna', Salam, and the issuance of Islamic Sukuk).
- Employing Financial Technology (FinTech): understanding open digital banking (Open Banking), electronic wallets, and participatory financing platforms from jurisprudential and economic perspectives.
- Dealing with digital assets and financial intelligence: understanding Blockchain technology, smart contracts, applications of artificial intelligence in financial transactions, and the Shariah controls governing cryptocurrency (Crypto) trading.
- Mastering Shariah supervision, governance, and auditing: applying the international Shariah and accounting standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), and managing Shariah non-compliance risks.
3. Target Audience:
- Employees of Islamic and conventional banks, Takaful insurance companies, brokerage firms, and financing companies.
- Financial and Shariah consultants, and members and assistants of internal Shariah supervisory and auditing boards.
- Entrepreneurs and founders of startups in Financial Technology (FinTech).
- Investors, investment portfolio managers, and asset- and risk-management officers.
- Graduates and students of Faculties of Shariah, Economics, Financial and Banking Sciences, Business Administration, and Information Technology.
4. Study Plan and Academic Modules:
|
Module |
Number of Lectures |
Total Hours
|
|
Introduction to Islamic Economics and the Foundations of Financial Transactions |
3 |
6 hours |
|
Jurisprudence and Structuring of Islamic Finance and Investment Contracts |
3 |
6 hours |
|
Islamic Banking Products and Services and Liquidity Management |
3 |
6 hours |
|
Capital Markets, Sukuk, and Islamic Investment Funds |
3 |
6 hours |
|
Financial Technology (FinTech) and Open Digital Banking |
3 |
6 hours |
|
Blockchain, Smart Contracts, and Cryptocurrencies |
3 |
6 hours |
|
AAOIFI Standards and Shariah Supervision and Auditing |
3 |
6 hours |
|
Risk Management, Compliance, and Engineering of Digital Financial Products |
3 |
6 hours |
|
Total: 8 Modules |
24 Lectures |
48 Training Hours
|
5. Organizational Structure and Assessment System:
- Duration and sessions: 3 months (evening period), at a rate of two lectures per week, two hours per lecture = 48 interactive training hours.
- Language of study and delivery method: Arabic with approved English and financial terminology | fully remote interactive training (Online).
- Distribution of approved hours (80 hours):
· 48 hours: direct interactive lectures.
· 14 hours: required readings and major jurisprudential and economic references.
· 6 hours: enrichment readings and international standards (AAOIFI Shariah and accounting standards).
· 6 hours: assignments, practical applications, and banking case studies.
· 6 hours: self-assessment questions, final review, and final completion examination.
- Attendance and assessment requirements: attendance of no less than 75% of the lectures, and completion of applications and periodic assignments.
- Certificate and graduation project: the graduate is awarded a Professional Diploma in Islamic Finance and Digital Banking after passing the electronic examination (25 questions + 5 questions on practical applied cases) and optionally submitting a graduation project that includes structuring a digital Islamic financial product or preparing a Shariah audit file for a practical case.
