This is a comprehensive programme designed to give delegates an all round understanding of the issues involved in Risk management for Islamic banking.
Course Objective
- Understand the principles of Islamic finance
- Understand Islamic banks: why, how and for what?
- Introduce the Islamic financial products,
- Discuss and contrast Islamic banking with conventional banking
- Understand Islamic finance Application with samples of contracts
- Understand the foundation of Islamic securitization
- Look into the Islamic investment funds and their potentials
The Course Specifically Targets:
- Investment Bankers
- Corporate and Commercial Bankers
- Corporate Financiers
- Private Bankers
- Analysts
- Asset managers
- Risk Management Managers
- Consultants
- Lawyers
- Investment Advisors
- Regulators
- Auditors and compliance professionals
Course Outline
Day 1
- Foundations of Islamic finance
- Islamic Economics
- Islamic Economic System:
- Shari’ah and Islamic Finance
- Objectives of Shari’ah
- Scope of Shari’ah
- Banking practices in the history of the Islamic society
- Development of contemporary Islamic banks
- Definition and nature of an Islamic bank
- Salient features of Islamic banks:
- Commitment to Shari’ah
- Commitment to Moral standards in financing
- Developmental by nature
- Commodity/service-based financing
- Comparison and contrast with conventional banks
- Characteristics of Islamic banking:
- Comprehensive/universal banking
- Sources of funds: partners
- Uses of funds: commodity/serve-based financing
- Requires exception for traditional banking laws
- Regulation of Islamic banks:
- Supervisory authority
- Shari’ah board (regulatory body)
- Fiscal Policy in Islamic Framework:: Objectives, Tools
- Monetary Policy in Islamic Framework:: Objectives, Tools.
- Islamic re-definition of banking services:
- Opening current accounts
- Collecting checks and money transfers
- Collecting notes, bills and other IOUs
- Buying and selling stocks for customers
- Currency exchange
- Issuance of letters of guarantees
- Issuance of documentary letters of credit
- Renting deposit boxes
- Opening investment deposits
- Financing operations from the pool of investment funds
- Conventional banking services not permitted in Islamic banks
- Discounting of bonds, bills of exchange and other IOUs
- Intermediation in buying and selling bonds
- All operations in which interest is part
Day 2
- Finance contracts In Islamic banks
- For funds mobilization:
- Musharakah
- Mudarabah
- Loan
- For funds utilization
- Islamic finance contracts
- Principles of Financial Contracts in Shari’ah
- Categories of Financial contracts in Shari’ah
- Currency Transactions and Riba al Fadl
- Earning Return by ownership, labor and guarantee
- Islamic Financial intermediation
- Prohibition of Riba (interest), Gharar, gambling, sale of what you don’t own, etc.
- Comparison between Islamic financing and interest-based financing
- Shari’ah-Named Financing Contracts
- Musharakah:
- Mudarabah
- Muzara’ah
- Deferred-payment sale
- Salam
- leasing
- Characteristics of the Shari’ah-Named Financing
- Contracts
- Sharing contracts:
- Fairness and balance: No Interruption of Sharing
- Implications of Wakalah
- Profit per agreement and losses per capital
- Exchange Financing Contracts
- Social and contractual justice
- Moral boundaries
- Level of Disclosure
- Lease Contracts
- Flexibility
- Amenability to Hybrids
- One-Side contributory Contracts:
- Flexibility in Conditions
Day 3
- New Approaches to Islamic financial engineering
- New financing contracts for liquidity management
- Tawarruq
- Reversed Murabahah
- International Inventory Financing
- International reversed Murabahah
- New financing contracts for corporations
- Purchase/installment sale
- BBA (Purchase/lease back)
- BOT and output/revenue sharing
- Inventory Murabahah financing
- Three party Istisna’
- New financing contracts for government
- Output sharing and BOT
- Constructions of Schools
- Build/lease operations
Certification
On completition of the course you will receive a certificate from ASTC Dubai.
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