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Master Islamic Finance: Level 5 Certificate in Banking & Finance
Understanding and Implementing Islamic Finance and Banking: A Comprehensive Level 5 Certificate Guide Whitepaper
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 their unique principles and practices. This article aims to delve into the concepts of Islamic finance and banking covered in the Level 5 Certificate course.
Key Concepts
Islamic finance is based on Sharia law, which prohibits the payment or receipt of interest (riba). Instead, Islamic financial institutions operate on the principles of profit-sharing (mudarabah) and risk-sharing (musharakah). These institutions also avoid investments in businesses that are considered haram (forbidden) according to Islamic law.
Statistics
| Year |
Islamic Finance Assets (in trillion USD) |
| 2015 |
2.1 |
| 2016 |
2.4 |
| 2017 |
2.8 |
Conclusion
Understanding the concepts of Islamic finance and banking is crucial for professionals in the finance industry. The Level 5 Certificate course provides a comprehensive overview of these concepts and prepares individuals for a career in Islamic finance.
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