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Our courses are intended for a global audience, with each one being completely customisable to suit the needs of the individuals it is being delivered to.

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Introduction to Islamic Finance

  • Banking and Financial Markets, Islamic Finance
  • Information

    This is a Two-Day Course with possibility of extension

    The training course is structured to provide maximum learning and will achieve the required benefit through a combination of lectures, exercises and group discussions.

    After attending this course clients will gain the knowledge required to understand the Shariah foundation of Islamic banking Business, understand the rule and the responsibilities of the Shariah Supervisory Committee, understand the similarities and differences between Islamic and conventional banking, have a comprehensive knowledge of the Shariah requirements for product development and also have full understanding of the operational, marketing and sales requirements for Islamic products.

    This course is designed to provide a comprehensive and practical knowledge on Islamic finance that allows the delegates to acquire the basic information required to understand and deal with Islamic financial products. The course will provide high level information on the principles of Shariah and the Islamic finance industry. The course will focus on the operational Shariah requirements for Islamic products and the development of financial products from legal and operational points of view. The course will also cover the Shariah approval process and the on-going Shariah monitoring requirements.

    The essential offering of the Islamic financial products on both the assets and liabilities sides will be covered in the course.


    By the end of this course clients will be able to:

    • Acquire the basic information on Islamic finance industry

    • Compare and contrast Islamic and conventional banking

    • Obtain sufficient knowledge on the Islamic financial principles

    • Have a better understanding of the Shariah requirements for Islamic financial operations

    • Acquire practical knowledge on designing and structuring new products

    • Identify the challenges of implementing new products and how to overcome these challenges

    • Obtain good understanding of the minimum Shariah requirements to create Shariah compliant procedures

    • Acquire the appropriate knowledge and skills to deliver and promote Islamic financial products according to Shariah principles.


    Day 1

    Session 1: 9:00 am

    Registration and Welcome

    Session 2: 9:30 - 10:30

    Introduction to Shariah and Islamic finance

    • Significance of Shariah and its impact on financial services

    • Riba (interest/usury) - definition and significance

    • Other prohibitions: types and significance

    • Main Islamic sources of income generation

    Session 3: 10:45 – 11: 45

    • Islamic financial industry - facts and myths

    • The philosophy of Islamic finance

    • Differences and similarities between Islamic and conventional banking

    • Standardization in Islamic financial industry – IFSB and AAOIFI standards, IIFM documentation, current situation and trends

    Session 4: 11:45 – 13:00

    Overview of main Islamic financial principles (definition, how do they apply to financial products)

    • Musharaka

    • Ijara

    • Wakala

    • Murabaha

    • Mudaraba

    13:00 – 14:00 Lunch Break

    Session 5: 14:00 – 15:00

    • Salam

    • Istisna’a

    • Takaful

    • Qard

    • Waa’d

    Session 6: 15:00 – 16:00

    Islamic financial institutions

    • The Structure of Islamic financial institutions

    • Dual governance model – differences and similarities in regulatory and Shariah requirements

    • Corporate Governance and Shariah Governance

    • The role of Shariah Supervisory Committee (SSC)

    • The role of the Shariah Compliance Officer (SCO)

    Session 7: 16:15 – 17:00

    External Shariah Audit

    Day 2

    Session 1: 9:00 - 10:30

    Islamic banking products

    • Deposit Accounts

    • Current Accounts: Qard

    • Saving Accounts: Mudarabah, Murabaha , Wakala

    • Treasury products

    • Murabaha placement

    • Wakala placement

    • Forex spot and forward

    Session 2: 10:45 – 11: 45

    Finance products

    • Tawarruq finance

    • Property finance

    • Project finance

    Session 3: 11:45 – 13:00

    An overview of the Islamic product life cycle – are Islamic financial instruments any different?

    • The Product development process: the Shariah consideration for developing Islamic products and obtaining Shariah approvals

    13:00 – 14:00 Lunch Break

    Session 4: 14:00 – 15:00

    Impact of Islamic products on:

    • Front Office

    • Sales requirements for new products

    • Marketing material: Shariah, regulatory and legal considerations

    • Back Office

    • Operational requirements for new products

    • Writing the procedures: Shariah considerations for each type of savings

    • Dealing with defaults: Shariah requirements

    Session 5: 14:00 – 15:00

    • Case Study 1: Legal documents for Wakala based placement

    • Case Study 2: Designing a bespoke product for a HNW client

    Session 6: 16:15 – 17:00

    • Group Discussion, conclusion and close

    Course Close

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    As every course we run is tailored to meet the specific needs of each client, we can only provide an estimate after fully understanding your specific requirements. Please complete the form below of call +44 (0) 208 894 4977 to discuss how Taylor Associates can help you.

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