CISI Islamic Finance Qualification In-house course
Islamic finance has been growing steadily at an estimated rate of 10–15% per year and is currently estimated to have
assets of around $1 trillion US dollars. As such, it has become an increasingly attractive sector within the financial industry. To be able to understand Islamic finance, it is necessary to understand the principles it is based on, and the fact that Sharia’a governs all aspects of a Muslim’s life. The purpose of this course is to help understand the main Islamic principles and concepts in relation to Islamic banking and finance.
Suitability - Who should attend?
This course is designed for those who wish to understand the main Islamic principles and concepts which relate to Islamic Banking and finance.
Outcome / Qualification etc.
- Earn CPD hours upon successful completion of the qualification
- Access to Associate membership and ACSI designatory letters
- Successful completion of the exam will lead to the IFQ Qualification attainment offered by the CISI.
- CISI Student membership– become associated with a Chartered professional body and take advantage of
an extensive range of benefits
Training Course Content
ELEMENT 1 The Basis of Islamic Banking and Finance
- The ethical underpinning of Islamic finance
- The role of the Sharia’a
- Qur’an and Sunnah approaches to Islamic Finance
ELEMENT 2 An Introduction to Islamic Banking and Finance
- The development of Islamic finance and banking
- Main functions of Islamic banks
- Operating structures and organisational forms adopted by the Islamic Financial Services Industry
- Institutional bodies overseeing and/or supporting Islamic finance and banking
ELEMENT 3 Islamic Law of Contracts
- The ethical precepts relating to Islamic business
- The major prohibitions in Islamic Finance (Riba, Gharar)
- The classification of and conditions applied to contracts with respect to their effect: Sahih, Fasid and Batil
- The nature of the security contracts: Hawala, Kafala, Rahn
ELEMENT 4 Financial Contracts and Techniques Applied by Islamic Banks
- The distinction between a conventional bank intermediary and an Islamic intermediary
- The operation of current accounts in Islamic banking
- Fund Management in Islamic Finance
- The use of Ijara Mawsoofa Bil Thimma (Forward Lease)
ELEMENT 5 Islamic Investment Management
- The Islamic investment guidelines
- Islamic contracts in structuring Islamic investment funds
- The approaches used to manage the market risk of portfolios and equity funds
- The benefits of direct investments: Shares and Real Estate
ELEMENT 6 Sukuk Market
- Introduction and Basic overview of the Sukuk Market
- The differences between conventional and Islamic securities
- The responsibilities of the different parties to a Sukuk
- Sukuk standards and Capital Market considerations
ELEMENT 7 Islamic Insurance – Takaful
- The position of Islam regarding insurance
- The origins of Takaful
- The risks associated with Takaful claims and their mitigation
ELEMENT 8 Financial Statements
- The conceptual framework of International Financial Reporting Standards (IFRS)
- Path towards the establishment of Islamic Accounting Standards
- The conceptual framework of AAOIFI financial accounting statements
ELEMENT 9 Islamic Corporate Governance
- The origins and nature of Corporate Governance
- Corporate Governance challenges in Islamic Banking
- The roles of the Sharia’a Supervisory Board in the Corporate Governance of an Islamic bank
LEORON delivers this course on an in-house basis, helping meet your company's specific training needs. Their customised training solutions are available worldwide and can be delivered at your offices or at conveniently located training facilities. Contact for more information and pricing details.
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