Post Graduate Diploma in Islamic Economics and Finance (PGDIEF) - AL JAMIA AL ISLAMIYA SANTHAPURAM


P.B.No:1, Pattikkad. P.O., Malappuram, Kerala, India-679325

Invites applications for the Admission of

Post Graduate Diploma in Islamic Economics and Finance (PGDIEF)

Eligibility: Graduation in any Discipline
Duration: One Year

Interested candidates may downloaded Application Form from their website and return the filled application to:

Co-ordinator, PGDIEF, Al Jamia Al Islamiya, Santapuram, Pattikkad (PO),
Perintalmanna, Malappuram (DT), Kerala, India, 679325

For more details, log on or Contact: 09846550250, 09961693887




Nature of the course:
diploma is an integrated course in which the theoretical and applied
aspects of Islamic economics and finance are studied. It will also
emphasize the comparative analysis of the conventional banking and
finance and its Islamic counterpart. The students are also taken
through the history of the development of this discipline and its
future prospects. The course curriculum includes one month Internship
in financial institutions, project report, and a general viva voce at
the end of the course and the following papers.

The nature and principles of Islamic economics
Basic economic measures in Qur'an and Hadith.
Islamic Banking and Insurance
Islamic Finance
Accountancy with Computer application (Tally & Peachtree)
Functional Arabic
Modern Banking, Finance and Insurance

Aims of the Course:
enable the students understand current economic problems of the society
in the Islamic perspective and able to analyze and suggest Islamic
To rear an islamically committed youth who will
disseminate the message of Islamic economics and among the public
especially among the educators.
To enable them contribute to the Indian society an economic system based on equity and justice as stipulated by Islam.
To inculcate in the students a kind of professionalism in the field of Islamic banking, finance and insurance sectors.
To produce financial engineers for preparing financial products in compliance with Shariah.

A Graduation in any discipline preferably in economics or commerce.

Duration :
The duration of the course is full academic year of 10 months

Admission Policy:
faculty admits the students on the basis of index marks prepared on the
marks secured in the Graduation and the performance in the Interview

month long internship is a compulsory part of the course which students
are made to undergo in well known financial institutions during the
currency of the course.

Project Report:
partial fulfillment of the course, students are expected to submit a
project report of hundred marks in any related field of about 60-100

Study Tour:
students of the faculty regularly conduct annual Study Tour with a view
to visit various Islamic Financial institutions, historical places and
educational centres.

Fee structure:
Tution Fee : 9,000 (Three installments)
Special Fee: 1,000 (At the time of admission)
Hostel (Food & Accommodation) Fee : 5,000 (Three installments)


Filling of application form:
Download Application Form from the Al Jamia website -

care should be taken in filling in the application form. All columns
should be filled correctly and unambiguously. Write NA against columns
that are not applicable. Send copies of all supporting documents
without fail. Any intentional misstatement in the application will lead
to cancellation of the admission.

Return the filled application form with Rs 100/- to the The
Co-ordinator, PGDIEF, Al Jamia Al Islamiya, Santapuram, Pattikkad (PO),
Perintalmanna, Malappuram (DT), Kerala, India, 679325
so as to reach him on or before 31.07.2008.

short listed candidates called for an interview for final selection in
the Al Jamia campus at Santapuram. Admission granted will be cancelled
at any time, if it is found that the information furnished by the
candidate is false or incorrect or if, at a later stage, it is found
that the candidate does not fulfill the eligibility criteria prescribed
for the course.

Classes will begin on 23rd August 2008. Students
are instructed not to miss the classes since 75% of attendance is
required to appear for the examination.

Mode of Remittance:
Application Form Fee: Rs 100/-
Direct remittance at the Al Jamia Cash Counter at Santapuram and attach the Receipt along with the Application Form.


to 'Al Jamia Al Islamiya A/C No 44884, Canara Bank' payable at
Perinthalmanna Branch and attach the Receipt along with the Application



century witnessed the emergence of Islamic Economics as an academic
discipline. Its doctrines have been theoretically sound and socially
significant. It is not confined to Islamic banking alone and cannot be
linked to Islamic fundamentalism as it has often been wrongly
identified in the past. In fact, Islamic Economics identifies and
establishes an economic alternative that conforms to Islamic Scriptures
and traditions. Its central concern is Man, Mankind, Human behavior,
Human wellbeing, Sustained Development, Equitable Distribution of
wealth and Guarantee of social justice. As such, its core position is
said to have taken shape in the 1940's. Three decades later, efforts to
implement them have been seriously undertaken all over them. While in
some countries, governments have been running the system of centralized
Islamic redistribution of wealth, in more than 75 countries attempts
have been made to offer an interest free alternative to the
conventional usurious banking and financing system

Finance is
the life blood of any economic activity whose free flow ensures a
healthy economic system. But today finance is provided mostly by the
interest based banking system through out the world despite its ruining
effects on national economies. Though a hoary institution, Islam has
long prohibited all types of interest. In fact Islam does not give
undue importance to wealth and interest as does its western counterpart

present world knows how the practice of Fractional Reserve System
banking emerged and how they cause this function and injustice in the
modern financial system. Western banking system manufactures money out
of thin air. Pressing a key on a computer key board can send trillions
of currency across national frontiers despite involving huge risks. The
internet has brought paperless online screen based trading in massive
quantities of money counted in trillions. In this context one needs to
worry about the serious implications of herd psychology catching hold
of unscrupulous money lenders and speculators which make heavy killings
in the financial market

These patent features of conventional
banking and financial markets have hard hit the small savers and
investors. The net result was large scale bankruptcy, painful
recessions, deflations, financial collapse, lower economic growth and
untold human misery. The route cause of all this is the money we
borrow, say from banks on interest. Usury is the villain; no the Devil
which entices people to eat the wealth of others which is indeed most
unjust, immoral and unethical.

The origin of the mammoth
financial crises in the modern capitalist world especially the high
performing Asian Tigers can be traced to the monitory system that is
based on usury and fraud

It was in the context of the present
world economic scenario heading towards an impeding economic health
that the IAFIE and Al Jamia Al Islamiya jointly gave serious attention
towards educating the Indian people in general and Keralites in
particular of the God given Islamic Economic alternative to interest
based economic system and financial intermediation which culminated in
giving shape to a one year post graduate diploma Programme in Islamic
Economics and Finance including banking for which all academic back up
given by the members of the Indian Association For Islamic Economics
(IAFIE) and infrastructural and financial back up given by Al Jamia Al

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