Certified IBFTech Professional

IBFTech4D: Islamic Business & Financial Technologies (IBFTech) for Development

The above course fee is for e-learning version only.

An additional fee of $1000.00 (USD One Thousand only) is applicable to Instructor-led learning. Contact admin@iiibf.com for further details and payment instructions.

Date of commencement of next cohort: June 01, 2020

Donation to Charity

10% of the course fees will be donated to campaigns on GlobalSadaqah.com: An award winning charity platform.

Cutting Edge Topics

Topics covered in the program provide a non-technical and analytical understanding of the emerging technologies as major disruptors of the Islamic business and financial services sector in countries and regions with significant Muslim population. It covers applications of frontier technologies, such as, block chains and distributed ledgers in the halal ecosystem that includes the Islamic (halal) business enterprises as well as the Islamic financial services providers

Sector with a Rising Graph

Islamic Business & Financial Technologies have been experiencing exponential growth as a major disruptor of the mainstream businesses and financial services sector since the gloomy days of the global financial crisis. Now with increasing number of use cases of block chain and distributed ledger technology in these sectors, there is a corresponding need for professionals well-versed in the tools and their possible applications in addressing the pain points and enhancing efficiencies.

Expert Hands-on Training

You will be pleasantly surprised to interact with our experts as you proceed along your short journey. They come from some of the best-known institutions in the field across the globe. The modules included in the course provide you with opportunities to learn through hands-on experience with real-life applications.

Course Description

While technology is proving to be a major disruptor of the global business and economy, Islamic business and finance is not untouched by this development. Countries that have embarked on a strategy that would ensure a growing share of the financial pie for Islamic business and financial service providers, are keen to create an enabling environment for technology applications in the halal ecosystem including the Islamic financial services sector. The introduction of cutting-edge technology brings in its own Shariah issues and challenges that need to be resolved. This course aims to provide the participants with a comprehensive understanding of the digital economy landscape across the globe, focusing on the predominantly Muslim societies. It seeks to introduce block chain and other cutting-edge technologies in a non-technical manner as also the basic building blocks of IBFTech, such as, platforms, crypto assets, tokens and digital identities. It discusses various use cases of IBFTech in the halal supply chain as well as in the for-profit and not-for-profit segments of Islamic finance. It highlights the key Shariah issues and regulatory concerns and undertakes a discussion of sample IBFTech regulations that capture these concerns.
The course covers the following major areas in five modules:

1. The Digital Economy Landscape: This module provides an introductory overview of Islamic business and financial technologies (IBFTech) as it has evolved over the years, focusing on developments post global financial crisis in 2007-08. It seeks to present an overview of IBFTech ecosystem across the globe with an in-depth analysis of the evolving ecosystem in Muslim countries and societies with predominantly Muslim population. It introduces the enabling technologies in general, and block chain, smart contracts and distribute ledger technologies in particular, in a non-technical fashion.

2. The Building Blocks of IBFTech: This module undertakes a comprehensive review of the building blocks of IBFTech, which includes the more popular crowdfunding platforms and the not-so-popular (perhaps frowned upon by some central banks and governments) crypto-currencies. The modules provides a balanced view of some unique Shariah-issues with such platforms as well as cryptos that have often elicited divergent views from scholars. The unique idea of digital identity and tokens is covered at a conceptual level along with the relevant Shariah analysis and perspectives from empirical research.

3. IBFTech Applications in Islamic Finance: This module undertakes a comprehensive review of FinTech use cases in the field of altruism-based finance (zakat, sadaqa and waqf); not-for-profit finance (qard al-hasan, kafala) and commercial finance (e.g. sale or trade-based finance, lease finance, takaful, investments). It presents existing and potential areas of FinTech applications and use cases in these areas focusing on the benefits they bring in, challenges for future and possible ways to address them. Real-life case studies in the area are discussed.

4. IBFTech Applications in Halal Business: This module undertakes a comprehensive review of IBFTech use cases relating to various halal business sectors focusing on how technological innovations can bring about greater efficiency in their supply chain management and lead to improve Shariah compliance. Real-life case studies in the area are discussed.

5. Policy and Regulatory Framework for IBFTech: This module discusses the evolving regulatory framework for IBFTech in several countries with a vibrant halal business and financial services sector with a focus on regulatory concerns that may involve trade-offs. The concerns for giving a fillip to the micro, small and medium enterprises as well as enhancing financial inclusion through IBFTech and encouraging innovation and enhanced efficiency is juxtaposed against the concern for systemic stability and Shariah compliance. A few sample regulations relevant for Islamic IBFTech sector are discussed.

Course Duration

Successful completion of the course requires a minimum of 35-40 hours of intensive study comprising lectures (video/ in-person), quizzes, MCQs and submissions.

  • Instructor-led: 5-days (on average 7-8 hours per day)*
  • Virtual: You may space your learning of 35-40 hours over an extended period as per your convenience (subject to completion of course within a maximum period of 90 days).
  • Blended: Combination of personal contact hours and e-learning hours
You may enroll here for virtual or e-learning version only.
*An additional fee of $1000.00 (USD One Thousand only) is applicable to Instructor-led learning. Contact admin@iiibf.com for further details and payment instructions.

Pre-Requisites

This course is open to applicants with at least 2 years of university education. Those with relevant work experience may be exempted from the above academic requirement.

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