SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Higher Certificate in Islamic Finance, Banking and Law 
SAQA QUAL ID QUALIFICATION TITLE
91109  Higher Certificate in Islamic Finance, Banking and Law 
ORIGINATOR
Regent Business School (Pty) Ltd t/a Regent Business School 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Higher Certificate  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 05  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered-data under construction  EXCO 0324/24  2024-07-01  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2031-06-30  

Registered-data under construction

The qualification content is currently being updated for the qualifications with the status “Registered-data under construction” or showing “DETAILS UNDER CONSTRUCTION” to ensure compliance with SAQA’S Policy and Criteria for the registration of qualifications and part-qualifications on the National Qualifications Framework (NQF) (As amended, 2022). These qualifications are re-registered until 30 June 2027 and can legitimately be offered by the institutions to which they are registered.

 

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
To provide learners with the basic knowledge and skill in Islamic finance, banking, business and law to enable learners to seek appropriate employment in the proliferation of Islamic Banks and Islamic Windows in conventional banks in South Africa and abroad and/or to further their studies in these and related fields.

Rationale:
This qualification aims to equip learners with knowledge across a wide spectrum of Islamic Finance, Banking and relevant legal issues in order to create a better understanding of the practicality of Islamic Finance, Banking and Law in a secular state.

Reference will be made to South African law as a comparison to Islamic Law. It will thus be an enriching experience to both those with and without Islamic (Shari'ah) knowledge and to both Muslim and non-Muslim learners. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • The learner is competent in the language of instruction of the qualification.
  • The learner has obtained the general theoretical, practical and academic knowledge and understanding at NQF Level 4.

    Recognition of Prior Learning:
    The learners who do not meet the minimum requirements can gain access to the qualification through the Recognition of Prior Learning and credits will be granted where competency in a specific module is established by an assessor.

    Access to the Qualification:
    Applicants will be admitted to this qualification on the basis of one of the following minimum entry requirements:
  • A National Senior Certificate (NSC) or National Certificate Vocational (NCV), NQF Level 4 or other equivalent NQF Level 4 qualification.
    Or
  • An appropriate Further Education and Training Certificate or equivalent. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    All modules are compulsory and are at NQF Level 5:
  • Introduction to Principles of Islamic Law, 10 Credits.
  • Judicial System in Islam, 20 Credits.
  • Islamic Family Law, 15 Credits.
  • Islamic Criminal Law, 15 Credits.
  • Commercial Law: Islamic Finance and Banking, 20 Credits.
  • Commercial Law: Islamic Contracts and Charitable Endowments, 20 Credits.
  • Islamic Medical Jurisprudence, 20 Credits.

    Total: 120 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    The qualifying learner will be able to:
  • Display the necessary knowledge and skills that form the basis of Islamic banking and finance.
  • Operate in the Islamic banking industry and use its main components.
  • Function in the Islamic judicial system.
  • Display skills to help resolve family conflicts.
  • Display skills that help facilitate and debate issues surrounding Islamic Criminal Law.
  • Recognise the various products offered by Islamic Finance and Banking industry.
  • Apply knowledge on the principles of Islamic business.
  • Understand various contemporary medico-legal issues and their moral dilemmas. 
    		•

    ASSOCIATED ASSESSMENT CRITERIA 
  • Knowledge and skill in explaining the principles of Islam is demonstrated.
  • The different areas of the Islamic Judicial System are reflected on and understood.
  • Academic and professional texts are critically read.
  • The skills of rational argument, judgement and planning, to help resolve family conflicts are applied.
  • Different Islamic crimes are recognised and responded to.
  • The various products in the Islamic banking industry are utilised.
  • Various contemporary medico-legal issues and dealing with their moral dilemmas are supported and resolved.

    Integrated Assessment:
    Assessment of this qualification is provided through a wide range of formative and summative assessment methods that include:
  • Case studies.
  • Report writing.
  • Interpretative and analytical problem solving in the written examination.
  • Work based assignments.
  • Self assessment activities in the course material. 
    		•

    INTERNATIONAL COMPARABILITY 
    The qualification was benchmarked against similar qualifications as depicted below:
    The International Islamic University Malaysia offers a Certificate in Islamic Law of Banking and Finance which aims to introduce learners to the discussion of the main principles of Islamic law of banking and finance, to analyse the relationship between Islamic and conventional banking systems, evaluation of the current practices of Islamic banking system in Malaysia specially and the Muslim world generally. The qualification comprises the following modules:
  • Islamic Legal Systems.
  • Usul al-Fiqh.
  • Islamic Legal Maxims.
  • Islamic Law of Transaction.
  • Islamic Banking Law.
  • Islamic Insurance Law (Takaful).
  • Islamic Wealth Management.
  • Islamic Capital Market.

    The Institute of Islamic Banking and Insurance in the United Kingdom offers a Certificate in Islamic Banking which is an introduction to Islamic Banking the basic elements of Islamic Banking and the main principles. The qualification allows the learner to apply the critical thinking and assess the risks, reward and the overall approach deployed by Islamic Banking.

    Conclusion:
    Like the current qualification both the above qualifications are to introduce the learner to Islamic Finance, Banking and Law to up-skill the learner in this specific sector. 
    		•

    ARTICULATION OPTIONS 
    This qualification allows for both horizontal and vertical articulation possibilities.

    This Qualification articulates horizontally, at NQF Level 5, with:
  • A Higher Certificate: Banking.
  • A Higher Certificate: Financial Management.

    The Qualification articulates vertically, at NQF Level 6, with:
  • A Diploma: Islamic Personal Law.
  • A Diploma: Law and Taxation. 
    		•

    MODERATION OPTIONS 
    All assessment opportunities will be internally and externally moderated and the feedback from moderators is used to improve the quality of assessment, material and learner support as well as to ensure fairness and validity in any particular examination cycle. 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    Assessors assessing this qualification are required to have a relevant qualification at least one NQF Level higher than the qualification being assessed. They are also required to have at least 2 years' experience lecturing in this qualification or its equivalent. 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2015. 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Regent Business School (Pty) Ltd t/a Regent Business School 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.