Introductory (Level I):These courses are structured to be delivered in two or three day blocks. The contents are designed to assist individuals who may be completely unfamiliar with Islamic banking and finance and the contents are useful to create building blocks for new team members. All modules include discussions of marketing, accounting, risk management, and contrasts to traditional banking and finance. All modules include real market case and mini-case studies. Examples of Level 1 modules can be found in Appendix 1.
Foundations
of Islamic Banking and Finance Introduction
to AAOIFI Accounting Introduction
to Islamic Capital Markets Introduction
to Islamic Corporate Finance Introduction
to Islamic Funds Introduction
to Islamic Project Finance Introduction
to Islamic Principles of Risk Management Introduction
to Islamic Retail Finance Introduction
to Islamic Trade Finance Introduction
to Islamic Treasury and Capital Markets Introduction
to Islamic Wealth Management Introduction
to Takaful Islamic Banking
& Governance Issues for the Bank Director Islamic Finance
Marketing Processing
Islamic Banking Transactions (Operations)1. Foundations of Islamic Banking and Finance: This course introduces fundamental concepts and principles relating to Islamic banking and finance. The character of Islamic finance is rooted in Islamic commercial law as opposed to the concepts of lending money. This two day course covers how the Islamic market functions with its unique rules and solves financing and banking problems is introduced based on the core Islamic rules of contract and the rules of sarf or monetary exchange.
A variation of this course is offered as Islamic Banking & Finance for the Non]Professional. This two day course focuses solely on helping managers who do not normally have direct roles in Islamic finance or financial functions to understand the character of Islamic finance; its origins, its rules; and distinctions from traditional finance. A simple review of the core Islamic rules of contract and the rules of sarf or monetary exchange is applied with examples of applied Islamic financial structures.
2. Introduction to AAOIFI Accounting: This two day course covers the reasons for unique Islamic accounting standards. Simple examples for the non]accounting executive are given to illustrate the AAOIFI standards in a manner that builds on the two day Foundations of Islamic Banking and Finance course and its transaction examples.
3. Introduction to Islamic Capital Markets: The modern Islamic finance capital market is being born at this time. In the past decade, Islamic scholars and bankers have learned how to create Islamic securities and how to securitize many Islamic asset classes. This two day course surveys the principles, issues and processes which apply. The structure is geared to the non-investment banking executive. The course builds on the two day Foundations of Islamic Banking and Finance course.
4. Introduction to Islamic Corporate Finance: The course builds on the two day Foundations of Islamic Banking and Finance course. The course extrapolates the core concepts in a case environment with the delegates building a balance sheet and income statement as they apply the concepts in micro cases. Then, the balance sheets are stress tested in order to identify the risk characteristics of the transaction types. Each team requires a laptop computer with Excel loaded.
5. Introduction to Islamic Funds: This two day course discusses the universe of modern Islamic investment funds. What makes them Islamic, why are they restricted in their investment universes. Are there structural and jurisdictional issues that affect the Islamic investment fund world? This and related questions are asked. This course is a companion to Introduction to Islamic Wealth Management and builds on the two day Foundations of Islamic Banking and Finance course.
6. Introduction to Islamic Project Finance: The course builds on the two day Foundations of Islamic Banking and Finance course to describe the basic methods of constructing complex project finance transactions, including examples from real estate, the petrochemical sector, ship building and other practical micro cases.
7. Introduction to Islamic Principles of Risk Management: This three day course integrates team based case studies with the analysis of Basel II and Islamic Financial Service Board risk management standards. The course seeks to develop a practical analysis of the risk of exposure and loss given default and what these mean in the context of the unique Islamic instruments.
8. Introduction to Islamic Retail Finance: The course builds on the two day Foundations of Islamic Banking and Finance course and grows the core principles to solve case situations in which traditional retail banking needs are addressed. The risk characteristics of the methods are discussed in detail.
9. Introduction to Islamic Trade Finance: This two day course builds on the two day Foundations of Islamic Banking and Finance course to focus on how the basic building blocks of Islamic banking and finance may be used to structure import and export transactions.
10. Introduction to Islamic Treasury and Capital Markets: The course builds on the two day Foundations of Islamic Banking and Finance course with a definition of how the key concepts may be applied in both the Islamic banks treasury and the broader capital markets.
11. Introduction to Islamic Wealth Management: The same concerns that affect banking and finance alter the character of investing and wealth management. This two day course reviews the primary Islamic concerns relating to money and investing, how these affect common investment practices and vehicles. The course builds on the two day Foundations of Islamic Banking and Finance course.
12. Introduction to Takaful: Just as the banking and finance businesses are distinct from traditional transactions, the structuring of asset protection is different. This two day course covers the principles that led to an alternative method of insurance that complies with Shariah. This two has some alternative approaches which may be described in brief, building on the two day Foundations of Islamic Banking and Finance course.
13. Islamic Banking & Governance Issues for the Bank Director: This is a three hour course designed to assist experienced bank directors in appreciating the business differences between Islamic banks and traditional banks. The course reviews particular challenges in terms of Basel II implementation and oversight as well as compliance with prevailing central bank regulatory practices. This course is available in English and Arabic.
14. Islamic Finance Marketing: This course introduces fundamental concepts and principles relating to marketing Islamic financial products. It will help participants to understand the new product development process, conduct market research, identify target market through segmentation strategies, and craft positioning strategies including pricing, placement the utilization of the marketing mix. The course will also cover the importance of electronic marketing and tools utilized to market banking products. The elements of Islamic values pertaining to marketing a product or service are emphasized in this course.
15. Processing Islamic Banking Transactions (Operations): The course builds on the two day Foundations of Islamic Banking and Finance course. The key business concepts are discussed in the correct steps for operational processing and defining the Shariah and business flows for compliance purposes.
A team member who completes courses 2 - 8 and elected one or all of courses 9 - 15 or has performed self study based on recommended materials and course specific materials (sold separately) will be eligible to sit Part 1 (of three) of the Certified Islamic Financial Analystc examination as administered by SHAPE and REDmoney.
