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A leading criticism of existing Islamic banking products is that they are different to their conventional counterparts only in terms of contracts and cosmetics – whereas on the ground, the ‘de facto economics’, and ‘true’ financial liabilities and returns of both conventional and Islamic products are largely, if not wholly, similar in terms of basic application and implementation. |
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Many practitioners in the Islamic banking industry do not have an in-depth awareness of the weaknesses and questionable aspects of these existing financial products, and this is particularly true of management in many Islamic banks. In addition, adherence to any existing Shariah standards and codes is currently on a voluntary basis. For such (and other) reasons, the scope of product development remains narrow and largely inspired by conventional banking products, and the need to re-evaluate and improve has been largely ignored.
In this new 3-day course, we will analyse from a ‘best-practice’ point of view, the various drawbacks and risks involved in offering all major products (retail, corporate, and investment banking) that exist in the Islamic banking system today.
This critical analysis will be followed by an in-depth practical evaluation of alternative products (or similar products with alternative characteristics), wherever available, that are demonstrably more Shariah-based.
These ‘Shariah-based’ products will embody features that represent logical, meaningful, useful, and clear differences in operation in comparison to existing Shariah-compliant and conventional products.
In addition, the systems-related gaps (regulatory, accounting, taxation, governance, etc) and its associated challenges will also be discussed, with a special focus on Shariah governance and the way forward.
Who Should Attend
This is not a typical Islamic finance course. Rather, it is something very new and innovative.The program will encourage participants to look at Islamic finance and financial products in a new way. While we will examine existing commercial arrangements and instruments such as Mudarabah, Murabahah, Ijarah and so on, the development and structure of these instruments discussed in this course will be firmly aligned with the fundamental values of Shariah and will additionally incorporate various innovative features. The training will also have the following components:
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A high degree of interface and interaction with the audience to facilitate the most productive discussion and dialogue
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Daily short quiz assessment
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Interactive product development exercises
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| What
Our Customers Say... |
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“ Instructor extremely knowledgeable – no doubt and I have gained a lot from his experiences “
Senior Relationship Manager, Saudi Hollandi Bank, Saudi Arabia
"Through attending this programme I now understand the Islamic economy as well as the important financial products it comprises of. I am also familiar with new products that are likely to emerge with the rise of market and client requirements"
Division Head, Corporate Banking Group, Saudi Hollandi Bank, Saudi Arabia
“The course was outstanding. It has out-performed anything I have come across before.”
Commissioner, Bank Syariah Mandiri
"Enriching course with international dimension"
Senior Executive, Bank Negara Malaysia
"Training was good and the instructor has good knowledge and presentation"
Relationship Manager, Indonesia Exim Bank
"The training is interesting knowledgeable trainer. Useful to improve my organization`s operations for future/long-tern benefits"
Senior Risk Analyst , Asian Finance Bank Berhad
"The course speakers was very knowledgeable and gave a comparitative "practical" view of Islamic finance practice and structures in both Middle East and Malaysia"
Partner , Lee & Ko
"The course was very informative overall. The course speaker was very learned and had a deep knowledge and experience of the product & the industry, so he was as beneficial as the course content"
Shariah Analyst, Gatehouse Bank
"Probably the easiest vehicle to gain insight and mastery of the technique of Islamic Finance at economic role"
CEO, Modesty Capital |
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