Course description
Islamic finance is in some ways similar to the traditional financial system, yet it uses different mechanisms which in difficult financial times prove to be more viable in comparison to conventional banking.
The complet course of Islamic Banking and Finance aims to introduce participants to core norms, modes, principles, basic models of Islamic banking and finance, and to the analysis of the relationship between Islamic and conventional banks.
The course covers a range of topics, including the prohibition of Riba, Islamic financial contracts, Islamic capital market, Islamic microfinance models, Islamic insurance, and other contemporary issues related to Islamic finance.
The course will also address the real-world dilemmas related to banking loans, overdrafts, mortgages, insurance issues faced by Muslims while dealing with conventional banking.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
The Complete Course of Islamic Banking And Finance is ideal for:
- Bankers
- Finance professionals
- General people or customers dealing with Banks
- Customers of Islamic Banks
- Islamic Finance Critics
- Central Bankers
- Both beginners and those with a good understanding of Islamic finance.
Outcome / Qualification etc.
At the end of The Complete Course of Islamic Banking And Finance, the participants will be able to:
- Understand the definition of riba as per classical texts
- Understand the main principles and terms of Islamic finance
- Compare and contrast between Conventional (western) and Islamic finance
- Be able to distinguish between various Islamic financial products
- Learn the volume and figures of Islamic financial market
- Identify whether riba is present or not in any given banking transaction.
- Understand the ways in which Islamic banks avoid riba in there daily financial transactions.
- Realize the difference between balance sheets of Islamic and conventional banks.
- Understand and respond to the doubts raised on Islamic financial systems.
Training Course Content
Day 1
Islamic Economics – Key Principles
- Defining Islamic Economics
- Introduction to Islamic Economics
- Key Principles
- Islamic Economics and Muslim Countries
- The economic philosophy of Islam vis-a-vis Interest
Day 2
Capitalism, Socialism, Communism And Islamic Economics System
- Key Distinguishing Features
- Distribution of Wealth – Key Objectives in Islam
- Islamic perspective of distribution of wealth
- Factors of Production in Islam
- The Capitalist, Socialist and Communist Views
- Socialism and Islam
- Capitalism and Islam
- Communism and Islam
- Islamic Economics System
Day 3
Major Prohibitions And Key Principles
- Prohibition of Riba in the Quran and Sunnah
- Riba and its Types
- Definition of Riba (Interest & Usury)
- Classification of Riba
- Riba An Nasiyah
- Riba Al Fadl
- Commercial Interest and Usury
- Simple and Compound Interest
- Formulation of Gharar (uncertainty) and Maysir (chance and gambling)
Day 4
Islamic Contract And Valid Sale Agreement
- Key Conditions
- Unilateral Promise (Wa’da)
- Bilateral Promise (Muwa’adah or Muahaidah)
- Contract (Aqd)
- Elements of a valid sale
- Valid SALE
- Void/ Non Existing Sale ( Batil) Sale
- Existing sale but void due to defect (Bai Fasid)
- Valid but disliked sale (Bai Makrooh)
- Types of Sale
- Prohibited Sale Transactions
- Five Options
Day 5
Conventional Banking System – An Overview
- Key Terms
- Conventional Banking System – History
- Conventional Banking System -How it works
- Key Global Financial Institutions
- Key Sharia Issues
Islamic Banking System – An Overview
- Islamic Banking System – History
- Key Characteristics
- Islamic Banking System -How it works
- Leading Islamic Banks
- Key Shariah Issues
- Islamic banking and conventional banking – A comparison
Day 6
Islamic Banking And Islamic Financial Modes – Key Contracts
- Islamic Modes of Financing – Key Modes of Financing
- Murabaha
- Musharakah
- Mudharabah
- Ijarah
- Other Modes of Financing
Islamic Stock/Share Market
- Bonds and Islamic Bonds
- Shares and Investment
- Islamic Investment Funds
- Key Shariah Issues
Day 7
Takaful : Islamic Insurance
- Conventional Insurance
- The Solution: Islamic Cooperative Insurance (Takaful)
- Islamic Insurance Models
- Leading Islamic Insurance Companies
Day 8
Islamic Micro Finance
- Define Micro Finance
- Islamic Micro Finance – Introduction
- Successful Models
- The Way Forward
Day 9
Shariah Board, Shariah Audit And Shariah Compliance
- Shariah Governance and Islamic Financial Institutions
- Shariah Board – An Overview
- Shariah Audit and Shariah Compliance – How it works
- AOIFI Sharia Standard – An Overview
- Key Figures & Key Bodies
Day 10
Banking & Finance In The West – Fatawa & Application
- Key Issues in Banking & Finance
- Business Loans & Overdrafts from an Islamic perspective
- Credit Cards & Cash Back Offers from an Islamic perspective
- Pension Schemes and Provident Funds from an Islamic perspective
- Insurance & Claims in Islam
- Fatawa & Application
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