Certified Islamic Debt and Collateral Specialist: study modules
Three short modules on guarantees, pledges, dealing in debts, loans and late payment
Introductory · 3 hours · 9 lessons · Language: English and Arabic · ID: IFS-COU-0019
Every credit business has to answer two questions: how is a debt secured, and what happens when it is not paid? These three short modules explain, in plain language, how guarantees, pledges and documentary credits protect a creditor, which ways of selling, setting off and transferring debts are permitted, and how Shari'ah treats loans, late payers and insolvent debtors.
Each module has a reading with a worked example, slides, study notes and a short practice quiz. The modules prepare you for the Certified Islamic Debt and Collateral Specialist exam.
This is independent ifSPACE material written in its own words; it is not affiliated with AAOIFI and is not a fatwa.
What you will learn
- Explain how guarantees, pledges and documentary credits secure a debt, and which fees they may carry
- Tell when a debt may be sold, set off or transferred by hawalah, and why discounting a money debt is riba
- Apply the rules on loans, late payment and insolvency, choosing measures that never increase a debt for delay
Syllabus
1.Securing debts: guarantees, pledges and documentary credits
- How guarantees and pledges protect a creditor20 min
- Module 1 presentation15 min
- Module 1 practice quiz10 min
2.Dealing in debts: sale of debt, set-off and hawalah
- What may and may not be done with a debt20 min
- Module 2 presentation15 min
- Module 2 practice quiz10 min
3.Loans, late payment and insolvency
- Treating borrowers and debtors who do not pay20 min
- Module 3 presentation15 min
- Module 3 practice quiz10 min