- TypeTraining or Development Class
- Location Nairobi, Nairobi County,Nairobi,Kenya
- Date 26-09-2022 - 07-10-2022
Education/Teaching/Training/Development
Finance
Islamic Financial Management Course on 26th September to 7th October 2022
Duration
2 weeks
Course Objective:
· Developments of Islamic Economics, Banking and Finance.
· Understanding of the main principles of Islamic 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 content
· 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
· 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
· 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
· 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
· 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)
· 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
· 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
· 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
· 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
· 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