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"Mastering Concepts of Islamic Finance & Banking"
Exploring the Core Concepts of Islamic Finance and Banking: A Comprehensive Guide for Level 5 Certification
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 attention in recent years due to the principles and practices rooted in Islamic law (Sharia). The Level 5 Certificate Concepts of Islamic Finance and Banking course delves deep into the fundamental concepts and principles that govern this unique financial system.
Key Concepts
Below is a table highlighting key concepts covered in the course:
| Concept |
Description |
| Murabaha |
A form of Islamic financing where the seller discloses the cost and markup of the goods to the buyer. |
| Mudarabah |
A partnership contract where one party provides capital, and the other party provides expertise. |
| Musharakah |
A joint venture partnership where all partners contribute capital and share profits and losses. |
Statistics
According to the Islamic Financial Services Board (IFSB), the total Islamic financial assets reached $2.88 trillion in 2020, demonstrating the rapid growth and global impact of Islamic finance.
Conclusion
The Level 5 Certificate Concepts of Islamic Finance and Banking course provides a comprehensive understanding of the principles and practices underlying Islamic finance. By exploring concepts such as Murabaha, Mudarabah, and Musharakah, students gain valuable insights into this dynamic financial system.
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