Introduction to Islamic Finance

Foiz Ahmed
Last Update March 29, 2024
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About This Course

Islamic finance is a rapidly growing sector within the global financial industry, offering unique principles and practices rooted in Shariah law. This introductory course provides participants with a comprehensive overview of Islamic finance, covering its principles, key concepts, instruments, and applications. Whether you’re a finance professional, student, or individual interested in understanding Islamic finance, this course will lay the foundation for further exploration in this dynamic field.

Throughout this course, participants will delve into the fundamental principles of Islamic finance, including the prohibition of interest (riba), uncertainty (gharar), and gambling (maysir), as well as the emphasis on ethical and socially responsible investing. They will learn about the underlying principles of risk-sharing, asset backing, and ethical considerations that guide Islamic financial transactions. Additionally, participants will explore the diverse range of Shariah-compliant financial instruments and structures used in Islamic finance, such as murabaha, mudarabah, ijara, and Sukuk (Islamic bonds).

Topics Covered:

  1. Introduction to Islamic Finance: Understanding the principles, objectives, and significance of Islamic finance within the framework of Shariah law.
  2. Principles of Islamic Economics: Exploring the ethical and moral foundations of Islamic economics, including justice, fairness, and social welfare.
  3. Prohibition of Riba (Interest): Understanding the rationale behind the prohibition of interest in Islamic finance and its implications for financial transactions.
  4. Shariah-Compliant Contracts: Exploring different types of Islamic contracts, such as murabaha (cost-plus financing), mudarabah (profit-sharing), ijara (leasing), and musharakah (partnership).
  5. Islamic Banking and Finance: Understanding the structure and operations of Islamic banks and financial institutions, including Islamic banking products and services.
  6. Islamic Capital Markets: Exploring Shariah-compliant investment opportunities in Islamic equities, Sukuk (Islamic bonds), and Islamic investment funds.
  7. Takaful (Islamic Insurance): Understanding the principles and operations of Takaful, a Shariah-compliant alternative to conventional insurance.
  8. Ethical Investing in Islam: Examining the principles and practices of ethical investing and socially responsible investing (SRI) in Islamic finance.
  9. Regulatory Framework: Understanding the regulatory and governance framework governing Islamic finance, including Shariah compliance and oversight.
  10. Challenges and Opportunities: Exploring the challenges and opportunities facing the Islamic finance industry, including globalization, standardization, and innovation.

Teaching Methodology: This course employs a blend of lectures, case studies, group discussions, and multimedia presentations to engage participants and facilitate learning. Real-world examples and case studies will be used to illustrate concepts and demonstrate their practical applications in Islamic finance. Participants will also have the opportunity to interact with industry experts and practitioners through guest lectures and panel discussions.

Learning Objectives

Gain a solid understanding of the principles, concepts, and practices of Islamic finance.
Familiarize themselves with the ethical and moral foundations of Islamic economics and finance.
Understand the principles of Shariah-compliant contracts and financial transactions.
Explore the diverse range of Shariah-compliant financial instruments and structures used in Islamic finance.
Learn about the operations and products offered by Islamic banks, financial institutions, and capital markets.
Understand the principles of ethical investing and socially responsible investing in Islamic finance.
Gain insights into the regulatory and governance framework governing Islamic finance.
Identify the challenges and opportunities facing the Islamic finance industry and its potential for growth and development.

Requirements

  • There are no specific prerequisites for this course. However, participants with a basic understanding of finance and economics concepts may benefit from the material covered.

Target Audience

  • This course is suitable for finance professionals, students, researchers, policymakers, entrepreneurs, and anyone interested in gaining a foundational understanding of Islamic finance. No prior knowledge of Islamic finance is required.

Curriculum

6h 15m

Introduction

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Your Instructors

Foiz Ahmed

4.96/5
25 Courses
23 Reviews
36 Students
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