Course Details
Course Outline
10 days course
Islamic Economics – Key Principles
- Defining Islamic Economics
- Introduction to Islamic Economics
- Key Principles
- Islamic Economics and Muslim Countries
- The economic philosophy of Islam vis-a-vis Interest
Capitalism, Socialism, Communism And Islamic Economics System
- Key Distinguishing Features
- Distribution of Wealth – Key Objectives in Islam
- Islamic perspective of distribution of wealth
- Factors of Production in Islam
- The Capitalist, Socialist and Communist Views
- Socialism and Islam
- Capitalism and Islam
- Communism and Islam
- Islamic Economics System
Major Prohibitions And Key Principles
- Prohibition of Riba in the Quran and Sunnah
- Riba and its Types
- Definition of Riba (Interest & Usury)
- Classification of Riba
- Riba An Nasiyah
- Riba Al Fadl
- Commercial Interest and Usury
- Simple and Compound Interest
- Formulation of Gharar (uncertainty) and Maysir (chance and gambling)
Islamic Contract And Valid Sale Agreement
- Key Conditions
- Unilateral Promise (Wa’da)
- Bilateral Promise (Muwa’adah or Muahaidah)
- Contract (Aqd)
- Elements of a valid sale
- Valid SALE
- Void/ Non Existing Sale ( Batil) Sale
- Existing sale but void due to defect (Bai Fasid)
- Valid but disliked sale (Bai Makrooh)
- Types of Sale
- Prohibited Sale Transactions
- Five Options
Conventional Banking System – An Overview
- Key Terms
- Conventional Banking System – History
- Conventional Banking System -How it works
- Key Global Financial Institutions
- Key Sharia Issues
Islamic Banking System – An Overview
- Islamic Banking System – History
- Key Characteristics
- Islamic Banking System -How it works
- Leading Islamic Banks
- Key Shariah Issues
- Islamic banking and conventional banking – A comparison
Islamic Banking And Islamic Financial Modes – Key Contracts
- Islamic Modes of Financing – Key Modes of Financing
- Murabaha
- Musharakah
- Mudharabah
- Ijarah
- Other Modes of Financing
Islamic Stock/Share Market
- Bonds and Islamic Bonds
- Shares and Investment
- Islamic Investment Funds
- Key Shariah Issues
Takaful : Islamic Insurance
- Conventional Insurance
- The Solution: Islamic Cooperative Insurance (Takaful)
- Islamic Insurance Models
- Leading Islamic Insurance Companies
Islamic Micro Finance
- Define Micro Finance
- Islamic Micro Finance – Introduction
- Successful Models
- The Way Forward
Shariah Board, Shariah Audit And Shariah Compliance
- Shariah Governance and Islamic Financial Institutions
- Shariah Board – An Overview
- Shariah Audit and Shariah Compliance – How it works
- AOIFI Sharia Standard – An Overview
- Key Figures & Key Bodies
Banking & Finance In The West – Fatawa & Application
- Key Issues in Banking & Finance
- Business Loans & Overdrafts from an Islamic perspective
- Credit Cards & Cash Back Offers from an Islamic perspective
- Pension Schemes and Provident Funds from an Islamic perspective
- Insurance & Claims in Islam
- Fatawa & Application
