The complete Course of Islamic Banking And Finance
INTRODUCTION
Islamic finance is in some ways similar to the traditional financial system, yet it uses different mechanisms which in difficult financial times prove to be more viable in comparison to conventional banking.
The complet course of Islamic Banking and Finance aims to introduce participants to core norms, modes, principles, basic models of Islamic banking and finance, and to the analysis of the relationship between Islamic and conventional banks. The course covers a range of topics, including the prohibition of Riba, Islamic financial contracts, Islamic capital market, Islamic microfinance models, Islamic insurance, and other contemporary issues related to Islamic finance.
The course will also address the real-world dilemmas related to banking loans, overdrafts, mortgages, insurance issues faced by Muslims while dealing with conventional banking.
OBJECTIVES
At the end of The complete Course of Islamic Banking And Finance, the participants will be able to:
Understand the definition of riba as per classical texts
Understand the main principles and terms of Islamic finance
Compare and contrast between Conventional (western) and Islamic finance
Be able to distinguish between various Islamic financial products
Learn the volume and figures of Islamic financial market
Identify whether riba is present or not in any given banking transaction.
Understand the ways in which Islamic banks avoid riba in there daily financial transactions.
Realize the difference between balance sheets of Islamic and conventional banks.
Understand and respond to the doubts raised on Islamic financial systems.
WHO SHOULD ATTEND ?
The complete Course of Islamic Banking And Finance is ideal for: Bankers
Finance professionals
General people or customers dealing with Banks
Customers of Islamic Banks
Islamic Finance Critics
Central Bankers
Both beginners and those with a good understanding of Islamic finance.
COURSE OUTLINE
Day 1
Islamic Economics Key Principles
Defining Islamic Economics
Introduction to Islamic Economics
Key Principles
Islamic Economics and Muslim Countries
The economic philosophy of Islam vis-a-vis Interest
Day 2
Capitalism, Socialism, Communism And Islamic Economics System
Key Distinguishing Features
Distribution of Wealth Key Objectives in Islam
Islamic perspective of distribution of wealth
Factors of Production in Islam
The Capitalist, Socialist and Communist Views
Socialism and Islam
Capitalism and Islam
Communism and Islam
Islamic Economics System
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Day 3
Major Prohibitions And Key Principles
Prohibition of Riba in the Quran and Sunnah
Riba and its Types
Definition of Riba (Interest & Usury)
Classification of Riba
Riba An Nasiyah
Riba Al Fadl
Commercial Interest and Usury
Simple and Compound Interest
Formulation of Gharar (uncertainty) and Maysir (chance and gambling)
Day 4
Islamic Contract And Valid Sale Agreement
Key Conditions
1. Unilateral Promise (Wa da)
2. Bilateral Promise (Muwa adah or Muahaidah)
3. Contract (Aqd)
Elements of a valid sale
Valid SALE
Void/ Non Existing Sale ( Batil) Sale
Existing sale but void due to defect (Bai Fasid)
Valid but disliked sale (Bai Makrooh)
Types of Sale
Prohibited Sale Transactions
Five Options
Day 5
Conventional Banking System An Overview
Key Terms
Conventional Banking System History
Conventional Banking System -How it works
Key Global Financial Institutions
Key Sharia Issues
Islamic Banking System An Overview
Islamic Banking System History
Key Characteristics
Islamic Banking System -How it works
Leading Islamic Banks
Key Shariah Issues
Islamic banking and conventional banking A comparison
Day 6
Islamic Banking And Islamic Financial Modes Key Contracts
Islamic Modes of Financing Key Modes of Financing
Murabaha
Musharakah
Mudharabah
Ijarah
Other Modes of Financing
Islamic Stock/Share Market
Bonds and Islamic Bonds
Shares and Investment
Islamic Investment Funds
Key Shariah Issues
Day 7
Takaful : Islamic Insurance
Conventional Insurance
The Solution: Islamic Cooperative Insurance (Takaful)
Islamic Insurance Models
Leading Islamic Insurance Companies
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Day 8
Islamic Micro Finance
Define Micro Finance
Islamic Micro Finance Introduction
Successful Models
The Way Forward
Day 9
Shariah Board, Shariah Audit And Shariah Compliance
Shariah Governance and Islamic Financial Institutions
Shariah Board An Overview
Shariah Audit and Shariah Compliance How it works
AOIFI Sharia Standard An Overview
Key Figures & Key Bodies
Day 10
Banking & Finance In The West Fatawa & Application
Key Issues in Banking & Finance
Business Loans & Overdrafts from an Islamic perspective
Credit Cards & Cash Back Offers from an Islamic perspective
Pension Schemes and Provident Funds from an Islamic perspective
Insurance & Claims in Islam
Fatawa & Application
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