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"Learn the Fundamentals of Islamic Finance and Banking - Level
Understanding the Principles of Islamic Finance and Banking: Level 5 Certificate Course Part 1
Level 5 Certificate Concepts of Islamic Finance and Banking
Level 5 Certificate Concepts of Islamic Finance and Banking
Introduction
Islamic finance and banking have gained significant popularity in recent years due to their unique principles and ethical guidelines. The Level 5 Certificate Concepts of Islamic Finance and Banking course delves deep into the fundamentals of this field, providing students with a comprehensive understanding of the principles and practices that govern Islamic finance.
Key Concepts
One of the key concepts of Islamic finance is the prohibition of interest (riba). Instead of charging interest on loans, Islamic financial institutions operate on the principle of profit-sharing. This ensures that risks and rewards are shared between the lender and the borrower, promoting a more equitable financial system.
Statistics
| Year |
Islamic Banking Assets (in trillion USD) |
| 2015 |
2.1 |
| 2016 |
2.4 |
| 2017 |
2.8 |
Conclusion
The Level 5 Certificate Concepts of Islamic Finance and Banking course provides students with a solid foundation in Islamic finance principles and practices. By understanding the key concepts and principles of Islamic finance, students will be well-equipped to navigate the complexities of the Islamic financial system and contribute to the growth of this rapidly expanding field.
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