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Islamic Finance & Banking: Level 5 Certificate
Exploring the Key Concepts of Islamic Finance and Banking: A Level 5 Certificate Guide
Level 5 Certificate Concepts of Islamic Finance and Banking
Level 5 Certificate Concepts of Islamic Finance and Banking
Introduction
Islamic finance and banking are gaining popularity as alternative financial systems that adhere to Islamic principles. The Level 5 Certificate Concepts of Islamic Finance and Banking course provides a comprehensive understanding of these concepts.
Key Concepts
Below is a table highlighting key concepts covered in the course:
| Concept |
Description |
| Shariah Compliance |
Financial products and services must adhere to Islamic law. |
| Mudarabah |
A form of partnership where one party provides funds and the other manages the business. |
| Murabaha |
A cost-plus financing arrangement used in Islamic banking. |
Statistics
Islamic finance assets have been growing rapidly in recent years. According to a report by the Islamic Financial Services Board:
- Global Islamic finance assets reached $2.88 trillion in 2020.
- The Islamic banking sector accounted for 80% of total Islamic finance assets.
Conclusion
The Level 5 Certificate Concepts of Islamic Finance and Banking course equips individuals with the knowledge and skills to navigate the world of Islamic finance. With the industry's continued growth, understanding these concepts is essential for finance professionals.
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