Currency and Gold Quest
Master the rules of currency exchange and gold trading in a market game
Introductory · 5 hours · 11 lessons · Language: English and Arabic · ID: IFS-COU-0068
Master the rules of currency exchange and gold trading in a market game. This free gamified course turns the basics of AAOIFI standards into five interactive missions. In each one you flip learning cards, make decisions in short scenarios, race through true-or-false rounds, match terms, put steps in order, sort what is allowed from what is not, and finish with a final challenge where you have three lives. You earn XP, keep streaks, collect stars and unlock a badge for every mission.
The missions:
- Money, currencies and the spot rule
- Currency exchange in banking
- Gold: possession and allocation
- Gold products and accounts
- Red flags: forwards, options and deferred exchange
After each mission a short recap sums up what you unlocked, with the references. When all five badges are yours, take the final exam: 30 questions in 60 minutes, 70% to pass.
This course is independent educational material written by ifSPACE in its own words. It does not reproduce AAOIFI texts, is not affiliated with AAOIFI and is not a fatwa.
What you will learn
- Explain why currencies follow the rules of gold and silver, and decide when an exchange of money must be equal and when it must only be spot.
- Apply the spot rule to a bank's exchange desk, including account credits, cheques, transfers abroad and debts paid in another currency.
- Apply the rules of gold for gold and gold for money, and tell real or constructive possession of allocated gold from a mere claim.
- Assess gold accounts, savings plans, online platforms, gold-backed funds and gold loans against the requirements of SS 57.
- Recognise forwards, futures, options and other deferred exchanges, and describe the unilateral promise as the permitted way to manage currency risk.
Syllabus
1.Mission 1: Money, currencies and the spot rule
- How this quest works5 min
- Mission 1: Money, currencies and the spot rule25 min
- Recap: Money, currencies and the spot rule10 min
2.Mission 2: Currency exchange in banking
- Mission 2: Currency exchange in banking25 min
- Recap: Currency exchange in banking10 min
3.Mission 3: Gold: possession and allocation
- Mission 3: Gold: possession and allocation25 min
- Recap: Gold: possession and allocation10 min
4.Mission 4: Gold products and accounts
- Mission 4: Gold products and accounts25 min
- Recap: Gold products and accounts10 min
5.Mission 5: Red flags: forwards, options and deferred exchange
- Mission 5: Red flags: forwards, options and deferred exchange25 min
- Recap: Red flags: forwards, options and deferred exchange10 min