Islamic Financial Management Course


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.

Duration

10 Days

WHO SHOULD ATTEND?

  • Directors
  • Managers
  • Operations staff
  • Marketing persons
  • Shari'ah scholars
  • Auditors

PROGRAMME OBJECTIVES

  • 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.

 Course Outline

  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

Enroll for this Course

We are proud to offer this course in a variety of training formats to suit your needs.

IRES

Enroll to In-Person (Face to Face)

We use the highest quality learning facilities to make sure your experience is as comfortable as possible.

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IRES

Enroll for a Virtual Zoom Class

Join a scheduled class with a live instructor and other delegates.

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IRES

Enroll for Online Self-paced Class

Keep track of your own progression throughout your course and ensure continuous improvement.

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Benefits of Taking a Course at IRES

LEARN

Our courses are carefully curated to keep you abreast of latest industry trends, technological advancements, and best practices. We employ a variety of teaching methodologies, including hands-on workshops, case studies, and interactive sessions, all aimed at fostering an engaging and effective learning environment. Our expert instructors bring a wealth of knowledge and real-world experience, providing our clients with insights that can be immediately applied in their professional lives.

NETWORK

Our courses serve as a vibrant platform for professionals to connect and engage with a diverse community of peers, industry leaders, and experts. By participating in our programs, you gain access to an invaluable network that spans across various sectors and geographical boundaries. This networking aspect is not just about forming professional relationships; it's about creating a supportive ecosystem where ideas, opportunities, and collaborations can flourish.

GROW

Our courses are designed to challenge and inspire professionals to step out of their comfort zones and explore new horizons. Through a combination of theoretical knowledge and practical application, our programs help professionals refine their existing skills and acquire new ones, making them more versatile and competitive.

FAQs & Course Administration Details:

This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on Phone: +254 715 077 817 or Email: [email protected].
The instructor led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields. All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.
Upon successful completion of this training, participants will be issued with an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Payment should be transferred to IRES account through bank on or before start of the course. Send proof of payment to [email protected].
Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer. Email: [email protected] Phone: +254 715 077 817.