ISLAMIC FINANCE PRINCIPLES
β’ Definition and history of Islamic finance
β’ Shariah law and its application in finance
β’ Prohibition of interest (riba) and its implications
β’ Profit-and-loss sharing (Mudarabah and Musharakah) principles
β’ Asset-backed financing and Sukuk.
SHARIAH COMPLIANCE IN FINANCE
β’ Compliance Principles
β’ Compliance Implementation in Islamic Finance
β’ Responsible finance implementation
β’ Shariah screening and compliance processes
β’ Accounting and reporting standards for Islamic finance
β’ Challenges and considerations in Shariah compliance.
ISLAMIC BANKING PRODUCTS
β’ Deposit products (Wadiah, Mudarabah, Qard)
β’ Financing products (Murabahah, Ijarah, Istisna’, Diminishing Musharakah)
β’ Trade finance instruments (Murabahah, Salam, Istisna’)
β’ Treasury and capital market products (Tawarruq, Wa’d, Sukuk)
SHARIAH GOVERNANCE
β’ Shariah governance framework and its components
β’ Roles and responsibilities of the Shariah Supervisory Board
β’ Shariah compliance review and audit processes
β’ Shariah governance standards and guidelines
β’ Challenges and best practices in Shariah governance
RISK MANAGEMENT IN ISLAMIC FINANCE
β’ Unique risks in Islamic finance (Shariah non-compliance, asset-backed risks)
β’ Risk identification, assessment, and mitigation strategies
β’ Liquidity management in Islamic financial institutions
β’ Regulatory requirements and guidelines for risk management
β’ Role of Takaful (Islamic insurance) in risk management.
ETHICAL CONSIDERATIONS IN ISLAMIC FINANCE
β’ Social responsibility and environmental sustainability
β’ Wealth distribution and financial inclusion
β’ Corporate governance and transparency
β’ Ethical investment and screening
β’ Zakat (almsgiving) and its application in Islamic finance.
