Introduction
Islamic finance has become well-known around the world because of its rapid growth and ability to withstand financial crises. This is in addition to the fact that Shari’ah-compliant financial models focus on investing in real assets and sharing risks. So, the Islamic finance model has helped spread real-asset-based finance principles to many countries, and it is seen as the best way to pay for infrastructure projects.
This is an elective course of the program that aims to give its students an overview of Islamic financial institutions and how they differ from conventional financial institutions. The goal of this series of courses is to increase participants’ knowledge of Islamic finance.
This is in addition to a separate course tailored to government officials. Each lesson gives insight into a specific subset of the Islamic financial sector, including but not limited to Islamic banking, Islamic insurance, Islamic microfinance, the Islamic equity market, and the Islamic capital market.
Target audience
Participants from a variety of professions (bank managers, financiers, economists, policymakers, supervisors from central banks, legal agencies, investors, microfinance managers, educators, and potential consumers of Islamic finance) will find useful information in these courses. The program also serves as a forum for participants to connect with one another and exchange insights.
WHAT YOU’LL LEARN
- Explain the major prohibitions in Sharia-compliant commercial transactions and their impact on the banking business.
- Evaluate the implications of the prohibition of Riba, Gharar and gambling on individuals, financial institutions, and societies.
- Apply Islamic principles of Islamic finance to the needs of present-day businesses on the basis of modes and procedures in practice.
- Evaluate the operations and practices of Islamic financial institutions in the light of Shariah principles
- Understand and explain Takaful as an alternative to Insurance
- Develop a few products for fulfilling the needs of businesses using the basic categories of contracts discussed in Islamic law of contracts.
Mode of Delivery:
Both Classroom and Online Lectures with case studies
