Course Objectives

• Understand the principles of Islamic finance

• Understand Islamic banks: why, how and for what?

• Introduce the Islamic financial products,

• Discuss and contrast Islamic banking with conventional banking

• Understand Islamic finance Application with samples of contracts

• Understand the foundation of Islamic securitization

• Look into the Islamic investment funds and their potentials

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This is a comprehensive programme designed to give delegates an all round understanding of the issues involved in Risk management for Islamic banking.

The course specifically targets:

• Investment Bankers

• Corporate and Commercial Bankers

• Corporate Financiers

• Private Bankers

• Analysts

• Asset managers

• Risk Management Managers

• Consultants

• Lawyers

• Investment Advisors

• Regulators

• Auditors and compliance professionals
   

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Day 1

• Foundations of Islamic finance

  • Islamic Economics

  • Islamic Economic System:

  • Shari’ah and Islamic Finance

    • Objectives of Shari’ah

    • Scope of Shari’ah

• Banking practices in the history of the Islamic society

• Development of contemporary Islamic banks

• Definition and nature of an Islamic bank

• Salient features of Islamic banks:

  • Commitment to Shari’ah

  • Commitment to Moral standards in financing

  • Developmental by nature

  • Commodity/service-based financing

• Comparison and contrast with conventional banks

• Characteristics of Islamic banking:

  • Comprehensive/universal banking

  • Sources of funds: partners

  • Uses of funds: commodity/serve-based financing

  • Requires exception for traditional banking laws

• Regulation of Islamic banks:

  • Supervisory authority

  • Shari’ah board (regulatory body)

• Fiscal Policy in Islamic Framework:: Objectives, Tools

• Monetary Policy in Islamic Framework:: Objectives, Tools.

• Islamic re-definition of banking services:

  • Opening current accounts

  • Collecting checks and money transfers

  • Collecting notes, bills and other IOUs

  • Buying and selling stocks for customers

  • Currency exchange

  • Issuance of letters of guarantees

  • Issuance of documentary letters of credit

  • Renting deposit boxes

  • Opening investment deposits

  • Financing operations from the pool of investment funds

• Conventional banking services not permitted in Islamic banks

  • Discounting of bonds, bills of exchange and other IOUs

  • Intermediation in buying and selling bonds

  • All operations in which interest is part

Day 2

•  Finance contracts In Islamic banks

  • For funds mobilization:

    • Musharakah

    • Mudarabah

    • Loan

  • For funds utilization

    • Sale

    • Sharing

    • Leasing

• Islamic finance contracts

• Principles of Financial Contracts in Shari’ah

• Categories of Financial contracts in Shari’ah

• Currency Transactions and Riba al Fadl

• Earning Return by ownership, labor and guarantee

• Islamic Financial intermediation

• Prohibition of Riba (interest), Gharar, gambling, sale of what you don’t own, etc.

• Comparison between Islamic financing and interest-based financing

• Shari’ah-Named Financing Contracts

  • Musharakah:

  • Mudarabah

  • Muzara’ah

  • Deferred-payment sale

  • Salam

  • leasing

• Characteristics of the Shari’ah-Named Financing

• Contracts

  • Sharing contracts:

    • Fairness and balance: No Interruption of Sharing

    • Implications of Wakalah

    • Profit per agreement and losses per capital

  • Exchange Financing Contracts

    • Social and contractual justice

    • Moral boundaries

    • Level of Disclosure

  • Lease Contracts

    • Flexibility

    • Amenability to Hybrids

  • One-Side contributory Contracts:

    • Flexibility in Conditions

Day 3

• New Approaches to Islamic financial engineering

• New financing contracts for liquidity management

  • Tawarruq

  • Reversed Murabahah

  • International Inventory Financing

  • International reversed Murabahah

• New financing contracts for corporations

  • o Purchase/installment sale

  • o BBA (Purchase/lease back)

  • o BOT and output/revenue sharing

  • o Inventory Murabahah financing

  • o Three party Istisna’

• New financing contracts for government

  • Output sharing and BOT

  • Constructions of Schools

  • Build/lease operations

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Having written over 27 books and booklets in English and Arabic, and over 80 papers, Dr. Monzer Kahf has focused on Islamic finance and economics for over 33 years.

In addition, Dr. Kahf has been both working and training people in the field. His served as Professor of Islamic economics and banking at the graduate program in Islamic Economics at the Yarmouk University, Jordan, 2004-2005 and as a senior research economist at the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank from 1985 – 1999. Currently, Dr. Kahf has his own consultancy and training business that provides consultation, training, auditing and instruction in the field of Islamic finance, banking and economics.

Dr. Kahf has organized and conducted many training courses at IDB, IRTI, commercial Islamic banks, and other banking institutions in several countries in the Middle East, South and Southeast Asia, West Africa, Europe and North America. He has also trained people in Islamic Economics, Zakah and Awqaf. He has been an invited lecturer/speaker on Islamic banking, finance and economics by several national and international training and teaching institutions and conferences in several countries. He has also been a collaborating expert at the Islamic Fiqh Academy of the Organization of Islamic Conference (OIC) and member of several of its technical and methodological committees on Shari’ah and economics.

Dr. Kahf was awarded the IDB Prize for Islamic Economics, 2001 and the President of Syria Award for best University Graduating Student, July 1962. Dr. Kahf is fluent in English, Arabic and knows French
 

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