Course Info
Day 5 of each course is reserved for a Q&A session, which may occur off-site. For 10-day courses, this also applies to day 10
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Course Summary
Islamic finance requires financial professionals and accountants to raise capital and invest following Shari’a or Islamic Law. This requires businesses and individuals responsible for asset management and finances to assess potential possibilities for socially responsible funding.
Shari’a Law prevents certain forms of borrowing and lending from acquiring finance or assets, meaning that Islamic businesses need to find innovative solutions to make investments while reducing financial risk and securing their future.
Conventional financing methods may not be feasible, and it’s important to look at the recent trends in accounting, treasury management and lending regarding Shari’a Law to ensure that all the correct procedures are followed.
Upon completion of this course, participants will be able to:
- Understand the main aspects of Islamic financing.
- Develop a picture of the most effective forms of finance according to Shari’a law.
- Correctly identify the terminology involved in Islamic finance.
- Identify the most common products and tools associated with Islamic finance.
- Highlight key areas of concern or risks to your business when using unconventional laws.
- Differentiate between Shari’a financial practices and conventional practices.
- Understand the nuances of Takaful insurance.
This course is designed for anyone responsible for making financial decisions in an Islamic-based company. It would be most beneficial for:
- Business Owners
- Accountants
- Chief Financial Officers
- Financial Professionals
- Risk Assessors
- Auditors
- Shari’a Scholars
- Marketing Personnel
- Account Managers
- Treasurers
- Operations Managers
This course uses various adult learning techniques to aid full understanding and comprehension. Participants will review and compare the differences between traditional and Islamic financing within businesses and work together in groups to develop innovative solutions that are compliant with Islamic finance.
They will review videos and real-life interview case studies to understand how Islamic financing methods can cause risk and how to avoid challenges based on real experiences. A group networking discussion will take place to understand the challenges with Islamic financing within various industries, and a solutions workshop will assist participants in discovering new ways to resolve problems while sticking to permitted guidelines.
Course Content & Outline
Section 1: Islamic Financial Markets
- How to define the Islamic financial market in comparison to the traditional.
- Shari’a compliant services and updates.
- The growth of Islamic banking.
- The core principles regarding investments and loans.
Section 2: Rules & Regulations to Structure Your Approach
- Islamic law and law changes.
- The role of Islamic financing in Muslim culture.
- Conventional finance rules against Shari’a Law.
- Islamic finance prohibitions.
- Funding and compliant products.
- Guidelines and challenges.
Section 3: Asset Classes Within Islamic Financing Models
- Murabaha contracts.
- Murabaha credit and deferred payment rules.
- How to avoid and handle late payments.
- Syndicate trade mechanisms.
- Revolving Murabaha and what this means for your business.
- Ijara leasing.
- Jara muntahia bi tamleek.
- Forward sales (salam).
- Defining and developing a forward contract,
- Parallel salam.
- The complex construction of Istisna.
Section 4: Products & Tools
- Credit letters and guarantees.
- Shari’a tools and products in comparison to the conventional.
- Wakala and kafala structures and developments.
- Islamic credit cards and payments.
- Shari’a compliance and financing on a card.
- Creating deposits and hotspots for financial growth.
- Advisory services and fund management challenges.
- Stock market assessments.
- Islamic hedge funds.
- Islamic capital marketing.
Section 5: Istisna Contract Requirements
- Understanding parallel istisna.
- Modern applications.
- AAOIFI and IFSB standards and regulations.
- Structuring your Islamic finance throughout the business.
- Profit and loss data and reporting.
- Sharing contracts - musharaka and mudaraba.
- Profit sharing rules and regulations.
Section 6: Musharaka, Mudaraba & Wakalah
- Partnerships, agencies, and silent partnerships.
- Your Shari’a compliance.
- Wealth management, development, and private banking strategies.
- Challenges with screening.
- Investment approval and management.
- Recovering from bad investments.
Section 7: Financial Risk Management
- Limitations on derivatives in Islamic Law.
- Risks in compliance and losses with Shari’a Law.
- Managing market yield profits and losses.
- Islamic finance and regulations.
- Growth and staying within regulatory conditions.
Section 8: Assessing Regulatory Bodies Internationally
- Islamic institutions and their financial management procedures.
- How to share profits with equity, debt, and quasi-equity.
- Commercial risk displacement strategies.
- Risk management instruments and recovery scenarios.
Certificate Description
Upon successful completion of this training course, delegates will be awarded a Holistique Training Certificate of Completion. For those who attend and complete the online training course, a Holistique Training e-Certificate will be provided.
Holistique Training Certificates are accredited by the British Assessment Council (BAC) and The CPD Certification Service (CPD), and are certified under ISO 9001, ISO 21001, and ISO 29993 standards.
CPD credits for this course are granted by our Certificates and will be reflected on the Holistique Training Certificate of Completion. In accordance with the standards of The CPD Certification Service, one CPD credit is awarded per hour of course attendance. A maximum of 50 CPD credits can be claimed for any single course we currently offer.
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