Course description
Islamic finance refers to how businesses and individuals raise capital in accordance with Sharia, or Islamic law. It also refers to the types of investments that are permissible under this form of law. Islamic finance can be seen as a unique form of socially responsible investment.
This course provides participants with a thorough grounding in Islamic finance. The course covers the principles behind Islamic finance and the relationship between Islamic and conventional financing.
During the IslamicFinance Management training course, participants will explore recent history and trends in Islamic finance. Course participants is also provided with the opportunity to learn how to structure cash flows for Islamic finance.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
Islamic Finance Management Trainingcourse course, is Ideal for:
- Directors
- Managers
- Operations staff
- Marketing persons
- Shari'ah scholars
- Auditors
Outcome / Qualification etc.
At the end of theIslamicFinance Management training courseparticipants should be able to:
- Understanding of the main principles of Islamic banking and finance
- Developments of Islamic Economics, Banking and Finance.
- Identifying a range of commonly used Islamic Financial products and services
- Considering the nature and scope of Islamic finance and its relationship with conventional finance
- Creating awareness of the principles, trends and economic benefits of Islamic portfolios.
- Critically evaluate the key differences between the Islamic and conventional securities market
- Examine various risk management tools and techniques from an Islamic point of view.
- Differentiate between conventional insurance and Takaful
- Demonstrate practical skills of ethics for Islamic corporate governance.
- Compare and contrast differences between Islamic accounting and conventional accounting.
Training Course Content
Day 1
An introduction to Islamic financial markets
- Provision of sharia’a compliant financial services.
- Defining the Islamic financial market
- The rationale for growth in sharia’a compliant financial services
- Islamic finance:
- Gharar and maysir (uncertainty and speculation) in Islamic finance
- understanding the core principles of Islamic investment and finance
Day 2
Rules that recur in structuring for Islamic finance.
- Islamic law
- Understanding the role and importance of the sharia’a
- Islamic vs. conventional finance
- Prohibitions under Islamic law
- Process of structuring a sharia’a compliant product
- Understanding Islamic finance guidelines
Day 3
Understanding Islamic finance asset classes
- Murabaha contracts (sales)
- Defining murabaha contracts
- Murabaha on credit – deferred payment
- Late payment treatment
- Murabaha syndicate trade mechanics
- Revolving murabaha
Day 4
Islamic finance products
- Letters of credit and guarantees in Islamic finance
- sharia ’a perspective
- Role of wakala and kafala in developing the structure
- Islamic credit cards
- Rules governing sharia’a compliance for credit card finance
- Credit card features and sharia’a hotspots
Day 5
Islamic finance products
- Letters of credit and guarantees in Islamic finance
- sharia ’a perspective
- Role of wakala and kafala in developing the structure
- Islamic credit cards
- Rules governing sharia’a compliance for credit card finance
- Credit card features and sharia’a hotspots
Day 6
Defining the istisna contract
- Parallel istisna
- AAOIFI and IFSB standards
- Applications in the modern world
- organizational structures for Islamic finance
- Profit and loss sharing contracts in Islamic finance: musharaka and mudaraba
- Broad Islamic rules for profit sharing
Day 7
Musharaka (partnership),Mudaraba (silent partnership)&Wakalah (agency)
- musharaka and mudaraba
- Key ideas behind Sharia’a compliant business organisation
- Applications and considerations for wealth management and private banking
- Understanding the application of core Islamic finance principles
- Screening issues
- Considerations for the investment manager working in Islamic finance
Day 8
Providing clients with sharia’a compliant financial products
- Islamic finance & advisory services
- Islamic finance fund management challenges
- Stock market funds
- Islamic hedge funds
- Islamic finance capital markets
- Structure of Islamic finance capital markets
Day 9
Understanding financial risk management
- Limitations on derivatives in sharia’a and Islamic finance
- Risk and sharia’a compliance
- Managing profit, yield, market and foreign exchange risks in Islamic finance
- Islamic finance: regulatory and capital issues
- Main regulatory bodies for Islamic finance
Day 10
Key regulatory bodies and the international financial system
- Regulatory challenges for Islamic financial institutions
- Profit sharing deposits – equity, debt or quasi-equity
- Displacing commercial risk
- Understanding instrument risk in Islamic finance
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