The Islamic Research and Training Institute (IRTI) is one of the premier research and training institutes in the world dedicated to knowledge creation and dissemination in the fields of Islamic economics, banking and finance.
This economics and finance course will give you an overview of the Islamic financial system. You will learn the core principles and basic models of Islamic finance and establish a framework for understanding this financial system.If you are interested in the key features and foundational concepts of the Islamic financial system and institutions, or what distinguishes the Islamic financial system and its institutions from the conventional financial system, this course is for you. No previous knowledge about Islamic finance is needed, but basic business knowledge is advantageous.<p><strong>An Overview of the Islamic Financial System</strong></p><ul><li>Introduction</li><li>Principles of the Islamic Economic System</li><li>The Roles of Financial Institutions (FIs)</li><li>The Role of Ethics in the Islamic Financial System</li><li>Types of Contracts in Islamic Finance</li></ul><p>&nbsp;<br /><strong>General Principles</strong></p><ul><li>Introduction</li><li>The Basic Norms of the Islamic Financial System</li><li>Norms Relating to Profit</li><li>Norms Relating to Mutual Cooperation</li></ul><p>&nbsp;<br /><strong>A Framework for the Islamic Financial System—Part 1</strong></p><ul><li>Introduction</li><li>The Strategic Role of Financial Institutions in Society</li><li>Primary Characteristics of the Islamic Financial System</li><li>Basic Operations of an Islamic Bank</li><li>Two Approaches for Returns in Islamic Banking</li><li>Profit/Loss Approach in Islamic Banking</li><li>Islamic Investment Banking</li></ul><p>&nbsp;<br /><strong>A Framework for the Islamic Financial System-Part 2</strong></p><ul><li>Introduction</li><li>Concept and Conditions of a Bai’ Mu’ajjal (Credit Sale)</li><li>Murabaha Sale and Structure</li><li>Murabaha to Purchase Orderer</li></ul>
Islamic Banking, also referred to as Islamic Finance, is the overarching framework of Sharia, or Islamic law that guides the activities of Muslim corporations, banks, and other lending institutions as they raise capital. This frameworkalso describes the forms of investment that are permitted under this law. Islamic Banking stands apart from conventional banking in four key areas: a strict prohibition on charging and receivinginterest, adherence to ethical standards in investments, a focus on investments with moral or social values at their core, and a structure of shared risk. This course of Islamic banking starts with an overview of the fundamentals of Islamic Financial Intermediation, the basics of the analytical framework used to monitor and manage risks confronting Islamic financial institutions, including credit risk, liquidity risk, market risk, and operational risk.
In this economics and finance course, you will learn about different types of Islamic financial markets and their key features and principles.You will also learn about the challenges of Islamic financial and capital market development.No previous knowledge is needed, but a basic knowledge of business concepts is advantageous.Overview of Islamic Finance and MarketsIntroduction Fundamentals of Islamic Finance Structural Issues in Islamic Equity MarketsIslamic Investment FundsOverview of Advanced Islamic Instruments and MarketsIntroduction to Investment SukukIslamic Financial Markets and SukukIslamic Inter-Bank Money Market (IIMM)Islamic Forward MarketsIslamic Foreign Exchange MarketsDerivatives in Islamic FinanceIslamic Capital Market ProductsIntroductionChoosing Stocks for Islamic Equity FundsGrowth of Islamic Equity FundsChallenges for Islamic Equity FundsIslamic Commodity FundsReal Estate Investment Trusts (REITS)Hedge Funds and Islamic FinanceThe Growth of Islamic Financial MarketsIntroduction Regulatory and Legislative FrameworkMarket Structure and PracticesThe Use of Financial EngineeringThe Role of Training and Interaction in Promoting Growth
This finance course will provide learners with an overview of the principles and practices of Islamic financial and capital markets. You will learn about advanced Islamic financial instruments and the challenges in the development of Islamic financial markets. In addition, this course explains the trading operations of various markets in Islamic financial system.No previous knowledge is needed.
This Islamic finance and banking course gives an overview of the basics of Islamic insurance, mutual and investment funds. In this course, you will learn about The Concept of Takaful Ta’awuni (collaborative), The Basis for Takaful, Takaful vs Conventional Insurance, The Tabarru or donation - based Takaful Model.You will also learn about Islamic Perspectives on Mutual Funds and Real Estate Investment Trust (REIT) and Islamic Investment Funds.No previous knowledge is needed.Why Islamic finance is important for the global financial industryIslamic finance has grown rapidly, with the trend expecting to continue. Although the concept has been around for much longer, Islamic finance only attained a formal status in Muslim-majority countries in the 1970s. Today, it has become a global phenomenon, eliciting increasing interest around the world, including from non-Muslim countries like the United Kingdom, Luxemburg, Kenya, South Africa, and Hong Kong. Islamic finance has grown into a huge industry with total worldwide assets estimated at about US$2 trillion.Islamic finance has the potential to contribute to higher and more inclusive economic growth by increasing access of banking services to underserved populations. In addition, it has the potential to promote financial stability due to its risk-sharing feature and its financing being asset-backed and thus fully collateralized. Moreover, Islamic banks offer profit-sharing and loss-bearing accounts that can help mitigate losses and contagion in the event of banking sector distress. These are all indications that Islamic finance is converging to the global finance industry and hence all international finance professionals should be aware of Islamic finance.
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.You will also learn about the nature of Islamic banking systems and categories of Islamic Financial Institutions (IFIs).No previous knowledge is needed.
This course will provide students with an advanced understanding of Islamic insurance or "Takaful." Practices that resemble modern-day insurance date back centuries. The Islamic practice of Takaful originated among ancient Arab tribes. It functioned as a pooled liability that required offenders from one tribe to pay compensation to the victims (or their heirs) of another. Takaful has since evolved to include many forms and plans needed in Modern society while still meeting the approval of Muslim scholars. This course begins with an introduction to insurance and risk management. You'll explore the Islamic perspective on insurance and risk, risk identification, and measurement. From there, you'll review tools of risk management, risk avoidance, and risk financing, as well as insurance as a risk financing tool. You'll take a closer look at specific Islamic finance products, as well as perspectives on risk taking versus risk avoidance and note milestones in the Islamic approach to risk reduction. Finally, you'll explore the six stages of Islamic insurance development and examine insurance contracts - their purposes, limitations, and sources.