22 Nov 2021
9:30am to 5:30pm
Course fee: $450
After 90% IBF Subsidy: $45
Virtual Classroom (Zoom)

IBF Course Code: P210601AZR

Click HERE to register

About This Course

Course Synopsis

The programme focuses on helping financial advisers and insurance agents to understand and appreciate the Islamic Banking Core Concepts on dos and don’ts pertaining to Usury (Riba). Financial Practitioners will learn and appreciate the Islamic Finance Philosophy and key ethics of Islamic Banking Commercial Transactions. To be effective in applying the Islamic Banking Core Principles, it aims to address the common pitfalls of debt issues and Financial Practitioners will be able to calculate the debts incurred using the compounding interest calculation.

Content Outline:

  • Islamic Banking explanation of Usury (Riba) and Blessing (Barakah)
  • Reasons behind the prohibition of Usury under Islamic Banking Consequences and Impacts of Usury on society
  • Islamic Finance Philosophy- Strive for Barakah
  • Definition and Characteristics of Islamic Banking Commercial Transactions (Muamalat)
  • Four Ethical Elements of Islamic Commercial Transactions
  • Concept of Good Debt vs Bad dept and Big-Ticket Items vs Small Ticket Items
  • Three Levels of determining Factors before Spending.
  • Credit Card Pitfalls
  • Concept of Compounding Interest Rate and calculation method


Training Methodology:
The training will be conducted via virtual learning and/or physical classroom, with hands-on assignment.

Learning Objectives & Outcomes:

Benefits of the course

Upon completion of the programme, the FA Representatives or Insurance Agents will be able to:

  • Understanding the Islamic Banking Concept on Usury -charging of unreasonably high interest rates
  • Understanding the stages of prohibition in Usury.
  • Appreciation of Islamic Finance Philosophy
  • Understand business ethics concerning Islamic Commercial Transactions
  • Gain an in-depth understanding on the pitfalls of credit cards in situations of minimal payments or inability to repay.
  • Understand the concept of Compounding Interest Rate and the calculation method.
  • Able to calculate the debts incurred using the compounding interest rate table

Applied Islamic Financial Planning - Riba & Barakah ,Understanding Muamalat And Debts And Loans

23 Aug 2021
9:30am to 5:30pm
Course fee: $450
After 90% IBF Subsidy: $45
Virtual Classroom (Zoom)

Limited to 40 pax. Book your seat fast!

Training Grants & Subsidies

IBF Financial Training Scheme (90%)

IBF course fee subsidies for locals attending accredited or recognised courses up to 90%.

​Training Allowance Grant (TAG)

TAG provides $10 per hour of training. Only for company-sponsored individuals; and
Singapore Citizens or Singapore PRs, physically based in Singapore.

Trainer's Profile

Zaid Masagos

Zaid Masagos is currently the Head, Aman Amanah Advisory Group & Certified Islamic Wealth Advisor with Islamic Wealth Advisory (FAiWA).

He has almost 20 years of experience as a Financial Consultants with Prudential and Financial Alliance,
providing insurance and investment-related advice to consumers. During his practice, he has been advocating financial literacy training to assist the general public on financial awareness.

He is also the Director & Co-Founder, iFinancial Education Pte Ltd, providing financial literacy training and the President, Muslim Coaches Association Singapore.

Haron Masagoes

Haron Masagoes Hassan presently is Senior Executive Wealth Management and the internal Shariah Advisor for the Islamic Wealth Advisory (FAiWA) division within Financial Alliance Pte Ltd. In his role, he works closely with FAiWA’s external shariah advisor, Prof Dr Akram Laldin of ISRA, Malaysia. Haron also has completed the Shariah Advisor Workshop by PERGAS (Association of Religious Islamic Scholars Singapore) which was conducted by Dr Zaharuddin Abdul Rahman.

He is presently also an adjunct lecturer for the International Islamic College and University College of Islam Melaka (under a joint collaboration with Jamiyah Education Centre Singapore) for diploma courses like Principles and Practices of Islamic Banking and Finance & Islamic Law of Transaction.
He completed his Pre-University studies in Madrasah Aljuneid before pursuing his studies in International Islamic University Malaysia (IIUM), obtaining bachelor’s degree in Comparative Religion Studies and Usuluddin. He had completed a certificate in Fundamentals of Financial Services from Chartered Institute for Securities & Investment (CISI).

He has given numerous seminars and diploma courses on a range of topics including Islamic finance, wealth management, contemporary Islamic sciences, investments, financial advisory and proper Islamic estate planning. He had been interviewed by Mediacorp Suria under its program ASET in which he covered the topics like future growth trend in Islamic Finance as well as matters related to Islamic Estate Planning.