Teacher Cheat Sheet — Session 5: Banking Basics

Money, Values & You · 6th Grade Financial Literacy

90 minutes Ages 11–12 Session 5 of 8 ND-Friendly

90-Minute Agenda

Time	Block	What's Happening
0–5	Hook	"Has anyone been inside a bank? What happens there?"
5–20	Lesson 1	What banks do — safekeeping, lending, transfers; how banks earn money
20–35	Lesson 2	Interest and Riba — what interest is, why Islam prohibits Riba
35–55	Activity	Bank comparison chart + Islamic bank roleplay (15 min + 5 debrief)
55–70	Lesson 3	Islamic banking — profit-sharing, murabaha, no Riba
70–80	Journal	"Where would you keep your savings and why?"
80–88	Recap	"One thing about banking that surprised you?"
88–90	Close	Preview Session 6: Smart Spending

Note:Lesson 4 (Credit unions) can be brief intro or take-home reading.

Key Vocabulary

Bank — a financial institution that keeps money safe, lends, and moves money

Deposit — putting money INTO a bank account

Withdrawal — taking money OUT of a bank account

Interest— a fee charged for borrowing money (or paid to you for saving)

Riba (ربا) — usury/excessive interest; forbidden in Islam

Islamic Banking — banking without Riba, using profit-sharing instead

Credit Union — a member-owned financial cooperative

ND-Friendly Teaching Tips

Make it concrete — "A bank is like a really safe piggy bank that also lends your money to others."
Draw the money flow — You → deposit → Bank → lends → borrower → pays back + interest → bank keeps some, gives you some.
Riba discussion — frame as Islamic perspective alongside general ethics of lending. Don't assume family backgrounds.
Roleplay — give clear role cards (customer, regular banker, Islamic banker). Keep rules simple.
Journal is personal — some families have complex relationships with banks. Keep non-judgmental.
Murabaha — explain once with concrete example. Don't overexplain fiqh.
Warn before transitions — "2 more minutes, then we do the roleplay."

Discussion Questions + Teacher Notes

"Why would you put money in a bank instead of keeping it at home?"
→ Safety, convenience, sometimes growth. Multiple valid reasons — validate all.
"If a bank lends out your money while you're not using it, is that fair?"
→ Yes — that's how banking works. You agree to it; you get some interest back.
"What's the difference between fair interest and Riba?"
→ Scholars debate this. Basic: Riba = excessive or guaranteed regardless of outcome. Islamic = profit/loss shared.
"Why might someone choose a credit union over a big bank?"
→ Member-owned = profits go back to members, local focus, community trust.
"If you needed to borrow $100 urgently — where would you get it?"
→ Trust-based sources, credit union, bank. Opens community support vs. predatory lending conversation.
"Can you still be Muslim and use a regular bank?"
→ Complex fiqh — scholars differ. Families make their own decisions. Keep non-judgmental.

Bank Comparison + Roleplay Activity

Part A — Comparison Chart (10 min):

Feature	Regular Bank	Islamic Bank
Safe from theft
Earns profit	interest	profit-share
Charges Riba
FDIC insured
Available 24/7

Part B — Mini Roleplay (5 min):

3 roles: Customer (needs to borrow $50 for school supplies), Regular Banker, Islamic Banker.
Regular Banker: "Lend $50, pay back $60 in 2 months." ($10 interest)
Islamic Banker: "I'll buy supplies for $50, sell to you for $55 — pay when ready." (Murabaha)
Class votes: Which feels more fair? Why?

Opening Hook

"Raise your hand if you've been inside a bank."

"What did you see there? What do you think banks actually DO with your money?"

Let them speculate first. The lesson confirms some guesses and surprises others.

Journal Prompt

Write on board:
"Would you rather keep your savings in a piggy bank, a regular bank, or an Islamic bank? What matters most to you?"

8 min quiet. Invite 2 to share — never force.

Close + Preview

Recap:
"One thing about banking that surprised you?"

Preview Session 6:

"Next week: SMART SPENDING — how to get the most value from every dollar."

Take-home: Look at one bill your family pays. Is it a fixed or variable expense?