Islamic Finance

Islamic Finance and takaful are one of the fast growing niche markets. This has fuelled up a phenomenon of growth of Islamic capital markets whereby sukuk (Islamic Bonds) and Islamic equity are gradually penetrating international financial markets, and whipping the appetite of large western financial institutions. MIHE takes pride in extending professional and up-to-date training courses in this growing area, thanks to the library, research, computer and academic expertise that has been built over the last three decades. The programme takes into account the latest development and evolution of the Islamic Finance industry. It is a perfect blend of theory and practice.

 

Aims of the Course

  • To introduce students to the main Islamic financial products in the areas of Banking, Takaful and the Islamic Capital Market.
  • To enable students to appreciate the theoretical and practical aspects of financial engineering.
  • To develop a sound understanding of the Islamic legal principles and doctrines associated with Islamic finance.

Learning outcome

On completion of the course students should be able to understand the Islamic philosophy behind Finance and the mechanism involved in developing financial products.

Course Outline

This is a twelve day intensive programme developed to explore four main areas of Islamic Banking and Finance. Students attending the first five days of this programme will be awarded "Certificate in Islamic Banking" subject to completing the relevant assessments. The course will cover:

Banking Products

  • Historical development of Islamic Finance and the Islamic financial Market
  • Interest (Riba) and other prohibited elements in Islamic commercial law.
  • Basics of Islamic economics
  • Traditional Modes of financing (Musharakah, Mudarabah)
  • Concept of Sale in Islam (Bay' Mu'ajjal ,Bay‘ Murabahah  ,Bay' Salam  ,        Bay‘ Tawarruq)
  • Venture capital
  • Tawarruq
  • Credit cards
  • Regulatory Framework for IFI.
  • Risk Management models in the Islamic Financial Market

Takaful

  • Risk management from an Islamic Perspective
  • Fundamental of Takaful contracts: Kafala, Tabarru’ and Waqf
  • Takaful Models and some Fiqhi dimensions related to the models
  • Basics of Re-takaful

Islamic Capital Market

  • Concept of shares and ETF
  • Filtering criteria to buy shares
  • Derivatives
  • Unit trust
  • Hedging techniques
  • Securitisation and Sukuk

Technical aspects of Islamic Finance

  • Corporate Governance and related AAOIFI Standards
  • Shariah Audit, Basic financial Analysis and selected tax issues
  • Introduction to Islamic law of contract and analysis of latest court decisions
  • Management of Islamic Financial Institutions

Who should attend?

The course will be useful for those who are involved in the banking sector, the insurance industry and the capital market as it is practically oriented. It a recommended course for those students who inspire to join the Islamic finance industry.

Course Fees

For all enquiries, please contact:  

 

Contact Name The Short Course Administrator
Address Markfield Institute of Higher Education
Ratby Lane
Markfield
Leicestershire
LE 67 9SY
Tel 01530 244 922 [ext 297]
Fax 01530 243102
Email shortcourses@mihe.org.uk