Higher Certificate in Islamic Finance, Banking and Law

Purpose

To provide learners with the basic knowledge and skill in Islamic finance, banking, business and law to enable learners to seek appropriate employment in the proliferation of Islamic Banks and Islamic Windows in conventional banks in South Africa and abroad and/or to further their studies in these and related fields.

Rationale

This qualification aims to equip learners with knowledge across a wide spectrum of Islamic Finance, Banking and relevant legal issues in order to create a better understanding of the practicality of Islamic Finance, Banking and Law in a secular state.

Reference will be made to South African law as a comparison to Islamic Law. It will thus be an enriching experience to both those with and without Islamic (Shari'ah) knowledge and to both Muslim and non-Muslim learners.

• The learner is competent in the language of instruction of the qualification.
• The learner has obtained the general theoretical, practical and academic knowledge and understanding at NQF Level 4.

Recognition of Prior Learning

The learners who do not meet the minimum requirements can gain access to the qualification through the Recognition of Prior Learning and credits will be granted where competency in a specific module is established by an assessor.

Access to the Qualification

Applicants will be admitted to this qualification on the basis of one of the following minimum entry requirements

• A National Senior Certificate (NSC) or National Certificate Vocational (NCV), NQF Level 4 or other equivalent NQF Level 4 qualification.

Or

• An appropriate Further Education and Training Certificate or equivalent.

All modules are compulsory and are at NQF Level 5

• Introduction to Principles of Islamic Law, 10 Credits.
• Judicial System in Islam, 20 Credits.
• Islamic Family Law, 15 Credits.
• Islamic Criminal Law, 15 Credits.
• Commercial Law: Islamic Finance and Banking, 20 Credits.
• Commercial Law: Islamic Contracts and Charitable Endowments, 20 Credits.
• Islamic Medical Jurisprudence, 20 Credits.

Total: 120 Credits.

The qualifying learner will be able to

• Display the necessary knowledge and skills that form the basis of Islamic banking and finance.
• Operate in the Islamic banking industry and use its main components.
• Function in the Islamic judicial system.
• Display skills to help resolve family conflicts.
• Display skills that help facilitate and debate issues surrounding Islamic Criminal Law.
• Recognise the various products offered by Islamic Finance and Banking industry.
• Apply knowledge on the principles of Islamic business.
• Understand various contemporary medico-legal issues and their moral dilemmas.

• Knowledge and skill in explaining the principles of Islam is demonstrated.
• The different areas of the Islamic Judicial System are reflected on and understood.
• Academic and professional texts are critically read.
• The skills of rational argument, judgement and planning, to help resolve family conflicts are applied.
• Different Islamic crimes are recognised and responded to.
• The various products in the Islamic banking industry are utilised.
• Various contemporary medico-legal issues and dealing with their moral dilemmas are supported and resolved.

Integrated Assessment

Assessment of this qualification is provided through a wide range of formative and summative assessment methods that include:

• Case studies.
• Report writing.
• Interpretative and analytical problem solving in the written examination.
• Work based assignments.
• Self assessment activities in the course material.