Islamic Finance and takaful are fast growing niche markets reaching record rates in instances of no less than 15% per annum. This has fuelled up a phenomenon of growth of Islamic capital markets whereby sukuk (Islamic Bonds) and Islamic equity are gradually penetrating international financial markets, and whipping the appetite of large western financial institutions. MIHE takes pride in extending professional and up-to-date training courses in this growing area, thanks to the library, research, computer and academic expertise that has been built over the last three decades. The programme takes into account the latest development and evolution of the Islamic Finance industry. It is a perfect blend of theory and practice.
Aims of the Course
- To introduce students to the main Islamic financial products in the areas of Banking, Takaful and the Islamic Capital Market.
- To enable students to appreciate the theoretical and practical aspects of financial engineering.
- To develop a sound understanding of the Islamic legal principles and doctrines associated with Islamic finance.
On completion of the course students should be able to understand the Islamic philosophy behind Finance and the mechanism involved in developing financial products.
This is a twelve day intensive programme developed to explore four main areas of Islamic Banking and Finance. Students attending the first five days of this programme will be awarded "Certificate in Islamic Banking" subject to completing the relevant assessments. The course will cover:
- Historical development of Islamic Finance and the Islamic financial Market
- Interest (Riba) and other prohibited elements in Islamic commercial law.
- Basics of Islamic economics
- Traditional Modes of financing (Musharakah, Mudarabah)
- Concept of Sale in Islam (Bay' Mu'ajjal ,Bay‘ Murabahah ,Bay' Salam , Bay‘ Tawarruq)
- Venture capital
- Credit cards
- Regulatory Framework for IFI.
- Risk Management models in the Islamic Financial Market
- Risk management from an Islamic Perspective
- Fundamental of Takaful contracts: Kafala, Tabarru’ and Waqf
- Takaful Models and some Fiqhi dimensions related to the models
- Basics of Re-takaful
Islamic Capital Market
- Concept of shares and ETF
- Filtering criteria to buy shares
- Unit trust
- Hedging techniques
- Securitisation and Sukuk
Technical aspects of Islamic Finance
- Corporate Governance and related AAOIFI Standards
- Shariah Audit, Basic financial Analysis and selected tax issues
- Introduction to Islamic law of contract and analysis of latest court decisions
- Management of Islamic Financial Institutions
Who should attend?
The course will be useful for those who are involved in the banking sector, the insurance industry and the capital market as it is practically oriented. It a recommended course for those students who inspire to join the Islamic finance industry.
Minimum requirements: For the certificate course students must hold a GCSE and for the Diploma Courses students should hold at least two "A" levels or its equivalent. Competency in English language is a prerequisite for both the Certificate and Diploma courses. Students should display an interest in the field they wish to enrol for. Students are expected to have a basic background in mathematics.
N.B. Subject to an interview, MIHE may enrol those who do not have the necessary entrance qualifications but can demonstrate experiential learning and interest in Islamic Finance.
For the award of Certificate or Diploma, the assessment will consist of attendance, written examination and assignments.
Certificate in Islamic Banking £600
Diploma in Islamic Finance:Theory and Practice £1200
Award of Qualification
Students who successfully complete the course will be awarded a Certificate in Islamic Banking or Diploma in Islamic Finance at the graduation ceremony. A "Certificate in Islamic Banking" will be awarded to those attending first five days of the programme and completing the relevant assessments.
For all enquiries, please contact:
|Contact Name||The Short Course Administrator|
|Address||Markfield Institute of Higher Education
LE 67 9SY
|Tel||01530 244 922 [ext 281]|