INTRODUCTION TO ISLAMIC SACCO AND ITS PRODUCTS
The course introduces learners to Islamic Sacco operations with a focus on (1) Fundamentals and principles of Islamic economics and finance (2) Shari’ah contracts used in Islamic Sacco’s products (3) Liability, Service and Asset based products of Islamic Saccos (4) Shari’ah Governance in Islamic Saccos and (5) creation of Islamic SACCO windows
This course aimed at introducing learners to Islamic Sacco and its products. You are not required to be well versed in Islamic finance, neither are you required to be professing the Islamic faith to take this course. The main focus areas of the course are: (1) Fundamentals and principles of Islamic finance (2) Shari’ah contracts used in Islamic Sacco’s products (3) Liability, Service and Asset based products of Islamic Saccos (4) Shari’ah Governance in Islamic Saccos, and (5) Creation of Islamic Sacco window
Module 1: Introduction to Islamic Finance
-
1
Salient features of Islamic FinanceThe lesson focuses on the salient features of Islamic finance, such as the concept of ownership of wealth, fair dealings, trading in Shari'ah compliant businesses only, and the principle of no risk, no gain.
-
2
Quiz on fundamentals of Islamic financeThe quiz tests fundamentals of Islamic finance
Module 2: Products of Islamic SACCOs
-
3
Asset based Products in Islamic Saccos
The topic covers asset products of Isamic SACCOs and their underlying Shari'ah contracts, such as Murabaha, Tawarruq, Salam, Istisna, Mudharaba, Musharaka, and Ijara, Muzara, Misaqa, Mugharasa and Sukuk.
-
4
Quiz on asset productsThe quiz tests the learner's understanding of the asset products and their underlying Islamic commercial contracts.
-
5
Liability and fee based Products in Islamic SACCOs
This lesson discusses the liability based products of Islamic SACCOs which use commercial contracts such as Qardh, Mudharaba, and fee based products which use commercial contracts such as Wakala, Ujra, among many others.
Module 3: Shariah Governance in Islamic SACCOs
Module 4: Creation of Islamic SACCO Window
-
8
Creation of Islamic SACCO Window
The lesson discusses the requirements for creation of Islamic SACCOs andWindows, and the major steps that should be taken to ensure their Shari'ah compliance.
-
9
Quiz on creation of Islamic SACCOsThe quiz tests learners understanding of creation of Islamic SACCOs and windows.
Related Courses
