Certified Islamic Social Finance Specialist: study modules
Three short modules on zakah, waqf and qard hasan, the building blocks of Islamic social finance
Introductory · 3 hours · 9 lessons · Language: English and Arabic · ID: IFS-COU-0024
Islamic social finance is the part of Islamic finance that serves people in need and the public good. These three short modules explain, in plain language, when zakah is due and how it is calculated for individuals and companies, how a waqf is founded, managed and governed, and how interest-free loans (qard hasan) and other social finance programmes work without riba.
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 Social Finance 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
- Check whether zakah is due on wealth and calculate it for an individual or a trading company
- Explain how a waqf is founded, what may be endowed, and how its Nazir manages, invests and accounts for it
- Apply the rule that a stipulated benefit to a lender is riba to qard hasan funds and other social finance programmes
Syllabus
1.Zakah: who pays, on what, and to whom
- Zakah for individuals and companies (SS 35)20 min
- Module 1 presentation15 min
- Module 1 practice quiz10 min
2.Waqf: endowments that last
- How a waqf is founded, managed and governed (SS 60 and GS 13)20 min
- Module 2 presentation15 min
- Module 2 practice quiz10 min
3.Qard hasan and social finance in practice
- Interest-free loans and social finance programmes (SS 19)20 min
- Module 3 presentation15 min
- Module 3 practice quiz10 min