Learn about the different modes of Islamic Finance and the applications, management and risk involved with each. This Islamic finance and banking course gives an overview of the Islamic modes of finance. In this course, you will learn about Murabaha, Ijarah, Salam, Iistisjna, and Istisjrar modes of finance and their applications, management, the risks involved, and the mitigation measures.
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You will also learn about the nature of Islamic banking systems and categories of Islamic Financial Institutions (IFIs).
What you'll learn:
- Introductory overview of Islamic finance and banking
- Various Islamic modes of finance
- Equity-based and fee-based contracts
- Intermediation contracts in Islamic Finance
Syllabus
Week 1 - A Framework for the Islamic Financial System-Part 3
Introductory overview of Islamic finance and banking
Leasing or Ijarah Contracts
Conventional vs Islamic Leasing
Issues in Modern Ijarah Contracts
The Concept of Ijarah Sukuk
Deferred Delivery or Salam Contracts
The Istisna‘a Contract
The Istijrar Contract
Week 2 - A Framework for the Islamic Financial System-Part 4
Introduction
Shirkah and its Two Categories
The Concept of Mudarabah
The Concept of Musharakah
The Wadiah Wad Dhamanah Deposit
The Qard-ul-Hasan Deposit
The Concept of Wakalah (Agency)
The Concept of a Tawarruq Contract
The Concept of a Ju’alah Contract
Week 3 - Islamic Banking System and its Financial Products
Introduction
Financial Intermediaries: Their Three Main Functions
Intermediation Contracts Permitted by the Sharī‘ah
Trust-based Intermediation Contracts
Security-Based Intermediation Contracts
Business Models for Islamic Financial Institutions (IFIs)
Theoretical Perspective of an IFI’s Balance Sheet
Categories of IFIs
Week 4 - Controversial Financing and Fee-based Products
Introduction
Bai’ al-Einah (Repurchase)
Bai’ al-Dayn (Bill Discounting)
Tawarruq
The Use of Wakalah to Provide a Letter of Credit
The Use of Kafalah to Provide a Letter of Guarantee
Other Fee-based Services
