Introduction to Islamic Finance-First Level
The Introduction to Islamic Finance – PART 1 course is the first course of a three-part series that provides a thorough explanation on the fundamental principles of various key aspects in Islamic finance. This includes a discussion on the current Islamic finance landscape, the authorities of interpretation, the key Islamic nominate contracts applied in the industry, and a review of some of the widely used products in the Islamic finance industry. This course is suitable for individuals who would like to delve deeper into the area of Islamic finance, and is an ideal pre-requisite for other Islamic finance-related specialised courses offered by us.
Upon successful completion of this course, participants will be able to:
- Explain the history of Islamic finance and its current situation today, and identify key growth drivers that will mould its future
- Discuss the various sources of the Shariah and its authorities of interpretation, explaining its foundational relationship to Islamic economics and finance
- Analyse the key features of Islamic economics and finance in comparison to their conventional equivalents
- Identify various contemporary commercial Islamic nominate contracts: their definition, philosophy, types, legal foundations, and application
- Compare and contrast a selection of modern Islamic finance products with conventional financing products and analyse which of those that are more in line with the spirits of Shariah Content Highlights
- The evolution of Islamic finance: Past, Present, and Future
- A recap on Islamic Economics and its fundamental principles
- The sources of Islamic Law and Islamic Commercial Jurisprudence
- Authorities of interpretation in Islamic finance
- The negative elements of transactions
- The Islamic nominate contracts: Basic principles and application of Murabahah, Tawarruq, Salam, Istisna’, Ijarah, Mudharabah, and Musharakah
- Case studies
This course is aimed at individuals who are interested in a career in the area of Islamic finance, or have recently started their career in this field. It is also recommended as a refresher course for those already acquainted with Islamic finance as it covers a multitude of selected areas in the field and discusses the current issues facing the industry.
The course is conducted using a combination of lectures, discussions, case studies, and an end-of-course assessment.