Islamic Financial Management Seminar
INTRODUCTION
This course provides participant 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 course
participants will explore recent history and trends in Islamic finance. Course
participant are also provided with the opportunity to learn how to structure
cash flows for Islamic finance.
COURSE OBJECTIVES
At the end of 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.
DURATION
10
Days
WHO SHOULD ATTEND
The course targets:
- Directors
- Managers
- Operations
staff
- Marketing
persons
- Shari'ah
scholars
- Auditors
COURSE CONTENT
Module 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
Module 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
Module 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
Module 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
Module 5
- 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)
Module 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
Module 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
Module 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
Module 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
Module 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
GENERAL
NOTES
·
This course is delivered by our seasoned trainers who have
vast experience as expert professionals in the respective fields of practice.
The course is taught through a mix of practical activities, theory, group works
and case studies.
·
Training manuals and additional reference materials are
provided to the participants.
·
Upon successful completion of this course, participants will
be issued with a certificate.
·
We can also do this as tailor-made course to meet
organization-wide needs. Contact us to find out more: training@skillsforafrica.org
· The training will be conducted at SKILLS FOR AFRICA TRAINING INSTITUTE IN NAIROBI
KENYA.
· The training fee covers
tuition fees, training materials, lunch and training venue. Accommodation and
airport transfer are arranged for our participants upon request.
·
Payment should be sent to our bank account before start of
training and proof of payment sent to: training@skillsforafrica.org