The islamic credit cards course provides participants with a structured framework to help develop the core business of credit cards operations. Thorough discussions will include the process of identifying particular wants and needs of a target market of customers both for conventional and Islamic retail banking. This involves topics such as customer segmentation, analyzing the needs of each segment, and then making strategic decisions about product design, pricing, promotion and distribution. This practical course provides a substantive foundational knowledge base that will include the technical and Shariah issues of Islamic credit cards while also highlighting the economic and social implications of this product.
On successful completion of this course, participants will be able to:
- Explain the Islamic concepts and techniques available to issue Islamic credit cards and the different stages and actions required in structuring this product
- Discuss the process of issuance of credit cards in the conventional banks and contrast it with the process done in Islamic financial institutions
- Identify the various parties involved in credit card operations related to Islamic financial institutions
- Evaluate the Shariah concerns over the current models of Islamic credit cards
- Identify the different stages involved in planning, designing and operations involved in establishing a new credit card product in an Islamic financial institution
- Introduction to credit cards history & market
- Cards types & specification
- Parties and Relations involved in the credit card process (players, acquirer, merchant, issuer , cardholder, member services provider)
- Operation cycle, financial payment models and transaction processing overview
- Understanding the structure & mechanism of Islamic credit cards
- Shariah general provisions on credit cards
- Models of Islamic credit cards in the market
- Other Shariah compliant alternatives to credit cards
- How to effectively identify target markets and assess consumers of Islamic credit cards
- The planning and designing process of establishing Islamic credit cards
- Economic and social implications of credit cards
This course is for individuals who would like to gain an in-depth understanding of the specific product of Islamic credit cards. This may include and may not be limited to: staff from credit cards operations (back office and front office), customer service, and Shariah superintendent.
Introduction to Islamic Banking and Finance-Level 1 600E
Where the applicant does not have the prerequisites stated above, BIBF may require applicants to take and pass a pre-course assessment in order to be admitted to the course. Candidates are responsible for ensuring that they meet the pre-requisites before registering in courses.
The course is conducted using a combination of lectures, discussion, case studies, and an end of course assessment. Additional self-study hours of approximately 2 hours are also expected.
Note: This course is assessed
2 Days (5 hours per day)
Dr. Abdulazeem Abozaid, Islamic Banking Senior Consultant
Associate Professor, Damascus University