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ISLAMIC FINANCE QUALIFICATION
COURSE - DURATION 4 DAYS
Course Description
The Islamic Finance Qualification (IFQ) is a ground-breaking qualification
that covers Islamic finance from both a technical and Sharia’a perspective,
providing the first international benchmark in the area of Islamic finance.
Aimed at new and existing investment professionals specialising in Sharia’a
compliant finance, trade, investment and insurance, the IFQ is primarily
a practical Islamic banking qualification, but also covers the legal aspects
of Sharia’a which underpin all Islamic contracts.
Learning Objective
To equip candidates with a practical understanding of Islamic finance
To provide candidates with an understanding of the influence of Sharia’a
in a business context
To prepare candidates to hold key positions in the Islamic finance and
Takaful (Islamic Insurance) industries.
Who Should Attend
The qualification is appropriate for existing employees, new employees
and those seeking a career in Islamic finance.
Methodologies
Classroom lectures and interactive practical workshop format intended
to affirm the learning objectives.
Course Content
Session 1: An Introduction to Islam
The principles and concepts which underpin Islam; the placing of banking
and finance within Islam; the sources and interpretation of Islamic law;
introduction to the role of the Sharia'a Supervisory Board.
Session 2: An introduction to Islamic Banking and Finance
The basis of Islamic banking and finance; the development of the Islamic
finance and banking industry; the main components of the Islamic banking
industry and its operating structures.
Session 3: Islamic Law of Contracts
Principles of Islamic business including the avoidance of riba and gharar;
the concept of Wa’d (promise); the elements of a valid contract;
the different types of contract; the purchase and sale of currencies.
Session 4: Financial Techniques Applied by Islamic Banks
The nature of Islamic current accounts; the nature of the major contracts
– Mudaraba, Musharaka, Murabaha, Ijara, Salam, Istisn'a; the use
of letters of credit and guarantees in Islamic finance contracts.
Session 5: Financial Statements for Islamic Banks
The framework of International Financial Reporting Standards; contents
of the main financial statements; the need for specific Islamic accounting
standards; and the role of AAOIFI and IFRS.
Session 6: Islamic Corporate Governance
o The different approaches to corporate governance; additional challenges
presented by Islamic banks; the role of the Sharia'a Supervisory Board
and corporate governance issues in Takaful.
Session 7: Islamic Asset and Fund Management
The purpose of investment in Islam; prohibited industries; replicating
conventional deposit structures using Murabaha and Mudaraba; investment
funds using Ijara; the Islamic stock selection process and the role of
the Sharia'a Supervisory Board.
Session 8: Islamic Bond Market - Sukuk
The nature of Sukuk compared with conventional bonds; issuing Sukuk; different
types of Sukuk; AAOIFI standards for Sukuk and rating Sukuk issues.
Session 9: Islamic Insurance - Takaful
The nature and structure of Takaful compared with conventional insurance;
remunerating the insurance operator and Sharia'a governance of Takaful
undertakings.
Session 10: Case Studies in Islamic Finance
Case studies in Islamic finance.
State of the art facilities
Delegates can study in our comfortable hi-tech learning environment in
London, near Liverpool Street Station.
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