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Islamic Finance



The course offers a thorough and in-depth overview of all the key aspects of Islamic banking and finance. With the main emphasis on actual application and use of all products in the international Islamic finance markets, pertinent theory is discussed. In-depth coverage of contemporary subjects from an Islamic perspective is also provided, such as FinTech Cryptos. 

Course Objectives

At the end of this course, participants will be able to:

  •  Broaden the knowledge of the industry and markets  
  • Understand all the major products used globally and the characteristics and risk management aspects associated with them.

Targeted Audience

This course has been created for professionals with varying levels of experience to Islamic Finance, from those who have had little to no exposure (via the first Overview module) to those who are already exposed and working in the area but need more in-depth direction and information.

Course Outline

Unit 1: An introduction to Islamic banking and finance

  • Islamic commercial laws and rules (including contract law)
  • Islamic vs conventional banking – similarities and differences
  • Key principles
  • Overview of acceptable contractual forms
  • The activities and balance sheet of a major Islamic bank
  • Overview of global Islamic markets 
  • Islamic commercial contracts in conventional courts 

Unit 2: Islamic retail banking goods

  • Current and savings accounts
  • Home purchase finance structures
  • Car purchase finance structures
  • Personal finance
  • Islamic credit cards

Unit 3: Key Contractual Forms and case studies

  • Leasing, Ijara
  • Murabahah, Tawarruq and Musawamma
  • Application in asset nancing, working capital nance, and general credit provision
  • Project finance - Istisna
  • Musharakah
  • Diminishing Musharakah home fnance
  • Mudarabah
    • Investments and funds
    • Retail deposits
  • Sukuk overview, and relevant structures
    • Ijara
    • Mudarabah
    • Musharakah
    • Murabahah
    • Wakala
    • Hybrid

Unit 4: Sukuk – detailed analysis and transaction case studies

  • Ijara. Mudarabaah, Musharakah, Murabahah, Wakala, Hybrid
  • AAOIFI Shariah standards and Sukuk controversy
  • How to develop debt capital markets products using classing contractual forms
  • Detailed case studies.

Unit 5: Investments

  • Equity investments and funds
  • The process of Shariah compliance and screening
  • Private Equity
  • Key asset classes
    • Real estate
    • Commodities
    • Fixed income
  • Structured investments
    • Capital protection
    • Notes
    • Payout on performance of an index or benchmark

Unit 6: FinTech and Crypto

  • The impact of FinTech on Islamic Finance
    • The challenge to the traditional banking model
    • Are banks being left behind?
  • The growth of Non-banks and the implications
    • Islamic FinTech, the state of the market
    • Who is behind this sector – the new generation of Islamic visionaries?
  • Crypto currencies from an Islamic perspective
    • The growth of crypto
    • Fiat vs Crypto – which is more “Islamic”
  • Bitcoin and Islamic banking
  • The need for an Islamic Crypto
  • Proof of Work, Proof of Stake
  • Decentralized Finance

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