Islamic Finance Management
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Islamic Finance Management Course
Introduction:
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 Islamic Finance 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.
Course Objectives:
At the end of the Islamic Finance Management training course participants 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.
Who Should Attend?
Islamic Finance Management Training course, is Ideal for:
- Directors
- Managers
- Operations staff
- Marketing persons
- Shari'ah scholars
- Auditors
Course Outlines:
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
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
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
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
Islamic finance asset classes
- Ijara (leasing) in Islamic finance
- Jara muntahia bi tamleek
- salam (forward sales) in Islamic finance
- Defining the forward contract
- Parallel salam
- istisna (construction or manufacturing)
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
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
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
