Date of Training

Nov 15 & 16 - Dubai

Next Date

to be announced soon

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Pricing Structure

Platinum Package send 4 delegates
1500 USD per person

Gold Package send 2 delegates
1700 USD per person

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Introduction to Islamic Finance

The seminar will utilize hands on training, case studies and practitioner’s experience.

Since the beginning of the 18th century, banking has been conducted on an interest-based system of lending money to those in need. With no other alternatives available, people had no choice but to borrow money at often high interest rates.
It was this need for a fair financial system that brought about the birth of Islamic banking in the mid-1970s. Its objective was to provide a financial alternative that was fair, transparent and above all, a source of economic upliftment for all those in need. Islamic banking, enlightened with the guidance of Islamic Sharia principles, emerged as an alternative financial system that neither gave nor took interest, thereby introducing a fair system of social justice and equality, while fulfilling the financial needs of people and maintaining high standards of ethics, transparency and a sense of responsibility.

This course provides an introduction to Islamic Finance ranging from the understanding of Shariah principles to the application of Contracts used in the fields of retail and corporate Banking. Case studies shared by our experienced Instructors will allow for real world application and a knowledge base un-paralleled to other instructing institutions.

 Who Should Attend

This seminar is relevant and very useful for:

  • Bankers involved in the development of Islamic finance products-retail and corporate

  • Bankers Involved in the credit Risk and documentation of Islamic transactions in retail
    and corporate

  • Bankers in treasury, legal and accounting functions of Islamic banks and Islamic banking windows of conventional bank.

  • The course is also very useful for Islamic investment companies and Islamic mutual funds.

  • Front office staff marketing conventional and/or Islamic products will benefit a lot from attending this course.

 Key Take Aways

  • Understanding of Islamic Finance Principles

  • Knowledge of key Islamic Banking contracts and their applications: Wakalah, Musharaka, Mudaraba, Ijara, Istisnaa. Including variations of each product

  • Insights into the world’s fastest growing financial sector.

  • Applicable concepts that are relevant in the field of Finance for both conventional and Islamic Banking.

Course Outline

Day One

An overview of Islamic Finance principles

  • Definition and examples of Riba.

  • Definition and examples of Gharar.

  • Definition and examples of Jahalah.

  • Examples of Gharar and Jahalah clauses in banking contracts.

Contracts underlying liability products (retail)

  • The current account-Qard.

  • The Savings account-Qard or Mudaraba

  • The term deposit-Mudaraba Investment Account

    • Case 1: KIK Unrestricted Mudaraba contract.

    • Case 2: XYZ restricted Mudaraba Contract

  • Comparison with conventional banking deposits.

Profit Management (distribution) System

  • The profit sharing system.

  • Factors affecting distribution management:

    • Profit sharing rates.

    • Expenses

    • Cash reserves

    • Idle funds

  • Post distribution issues.

  • Case study-AAA bank.

Wakalah Contract

  • Shariah rules

  • Is it a deposit or and investment

  • Case: BIB Wakalah contract.

Murabaha contract and its uses

  • Principles of Murabaha-Shariah rules

  • Retail (consumer) needs and use of Murabaha.

  • Trade finance Murabaha.

  • Tawaruq and its contracts-principles.

  • Comparison between Murabaha and conventional

Day Two

Musharaka Contract and its uses

  • Shariah rules.

  • Pricing the Musharaka deal-fixing a rate in a
    profit/loss sharing contract.

  • Profit sharing rules.

  • Security rules

Ijarah Contract and its uses

  • Shariah principles.

  • Role of the lessor and lessee.

  • Legal status of leased property.

  • Ijarah Vs. conventional lease.

  • Is Ijarah an operating lease or finance lease?

  • Pricing Ijarah- three different methods.

  • Comparison between Ijarah and conventional leasing

Forward Commodity delivery Contracts

  • Shariah principles of Salam and Istisnaa.

  • Differences and similarities between Salam and Istisnaa.

  • Requirements for the delivery of the underlying asset.

  • Comparison between Istisnaa and conventional project finance.

Ancillary contracts

  • Kafala

  • Juala

  • Arboon

  • Takaful

Course Director

Dr. Taha Eltayeb Ahmed

General Manager (CEO) of Financial Investment Bank
PhD from the School of Management (Major in Banking)
from Bath University, UK

currently the General Manager (CEO) of Financial Investment Bank, an Islamic Banking institu- tion based in Sudan. Before this engagement, Dr. Ahmed was Senior Vice President and Head of Islamic Products & Structuring at Mashreq Al-Islami, the Islamic Banking Division of Mashreq in Dubai. During this period, Dr. Ahmed served as Mashreq Al Islami’s senior resource for the devel- opment of Islamic Banking Products and Services. His professional contributions were integral to the divisions’ strategic thinking, Islamic Banking product development and co-ordination of the banks Shariah Governance. He wrote product concept papers, product programs, and reviewed policy & procedural manuals and legal documentation.

Prior to this, Dr. Ahmed was employed for nine years as the Head of the Islamic Banking Center at the Bahrain Institute of Banking and Finance (BIBF) under Central Bank of Bahrain. Dr. Ahmed has been involved in the Development of Products, training of Islamic Bankers, consultancy work, development of regulation for Islamic financial institutions and research in various business sec- tors with emphasis on the banking and finance sector for the past thirty-five years. During the period of engagement with BIBF, Dr. Ahmed conducted a number of research & consultancy projects and published a number of articles in accredited Accounting/Finance Journals and professional magazines. He had also been actively involved in the development of Islamic Ac- counting Standards as a member of the think tank of the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI) during the period; 1996-2003.

Dr. Ahmed obtained a PhD from the School of Management (Major in Banking) from Bath Uni- versity, UK, a BSc and MSc both in Accounting from the University of Khartoum, Sudan, a Post- Graduate Diploma in Management from IMEDE Institute in Switzerland, and Advanced Diploma in Project Appraisal & Management from Harvard University, USA.


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