PG Diploma in Islamic Finance & Banking - ABP, UK-Brochure

7/30/2019 PG Diploma in Islamic Finance & Banking - ABP, UK-Brochure

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www.mywestford.com

ISLAMICFINANCE ANDBANKING

PG

DIPLOMA IN


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PG DIPLOMA INISLAMIC FINANCE ANDBANKING

This course is designed to offer students of financial management a well rounded

perspective of the fundamentals of Islamic Finance and Banking. The growing global

importance of Islamic financial structures and the implications for financial

management make it essential that any learner interested in financial management is

conversant with the fundamentals of this area of finance and banking. The module

will cover all aspects associated with Islamic Finance and Banking from the

prohibitions in taking or receiving interest through the prohibitions in masir and

gharar to Islamic banking fees and charges. The module will explore how IslamicBanking and Finance principles have evolved into structures. Issues associated with

products and services will be investigated and developed. The module will also

address regulatory frameworks and applications of Sharia law to all aspects of

banking and finance. This unit is linked to the unit Applied Islamic Finance and

Banking so that students conversant with all the principles and structures behind

Islamic Banking and Finance can be empowered to engage in application

Weekend/Evening/Online

Course Duration 8 weeks / 16 weeks

Delivery Model

Course Certified By ABP - UK

ABP qualification framework level 7 (Postgraduate)

For the purposes of this module the term Islamic Finance is juxtaposed against

what might be described as secular banking but which is here termed'conventional banking' on the basis that Islamic Finance has emerged as a

system relatively more recently.

IMF survey, 2010 has statedthat Islamic banks have on anaverage shown strongerresilience to the recentglobal financial crisis andmeltdown. Economists are of

the view that due to the robustgrowth of Islamic banksduring the crisis periods, theyare highly likely to take a leadto grow the market share inthe future.


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LEARNING OUTCOMES

The learning outcomes describe the abilities that learners will possess after they have

completed the unit. The content identifies the breadth of knowledge, skills and

understanding needed to design and deliver a programme of learning to achieve the

learning outcomes. The assessment criteria provide a list of achievements sufficient

to demonstrate that a learner has met the learning outcomes. The learner should be

given the opportunity to cover all of the content but it is not a requirement that all of

the content is assessed.

The Association of BusinessPractitioners (ABP) is a not-for-profit UK awardingorganization which developsand accredits businessrelated, professional qualifications, from short courses topostgraduate diplomas,delivered through accreditedcolleges

Understand the evolution of Islamic banking andfinance principles

Understand the differences between Islamic finance andbanking and the conventional modes of finance and banking

Understand aspects of Islamic banking and financeproduct and services markets

Understand the governance of Islamic banking and finance

LEARNING OUTCOMES,CONTENT ANDASSESSMENT CRITERIA


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Contemporary IslamicFinance is an emergingsector in the world ofin ternat ional f inance.Estimates reveal that theg l o b a l i n d u s t r y h a s

experienced a growth rate of15% to 20% per annum withup to $500 billion inmanaged assets and apotential market size of $4trillion. It is believed thatbetween 200 and 300institut ions worldwidecurrently contribute to theIslamic Finance Industry.

These are primarily concentrated in the Middle East andS out h eas t A s ia (w i t hBahrain and Malaysia beingthe largest hubs). However,hubs for Islamic Finance arebeginning to form in bothEurope and the UnitedStates.

MODULE - 1EVOLUTION OF ISLAMICBANKING AND FINANCE PRINCIPLES

An introduction to Islam

Framework of Islamic Finance and Banking: the Shar'iah

Compliance with Shar'iah Law

Foundation of Islamic commercial law

Legal maxims (Qawai'd fiqhiyyah and Fiqh al

Mu'amalat) in Islamic finance and banking

Sources of Islamic finance and banking principles

Qur'an, Hadith, Ijma, Qais

Ijtihad and relation to Ijma and Qiyas

The correlation between Shariah Law and Ethics, the role of Ijma

History of Islamic finance

Early Islamic banking

Key periods in development of Islamic banking and finance

Islamic banking and finance and Globalisation

The ethical underpinnings of Shar'iah-based economics and social orsocietal implications

Production versus intermediation approaches

Islamic banking and finance The Future


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MODULE - 2DIFFERENCES BETWEEN ISLAMICFINANCE AND BANKING ANDTHE CONVENTIONAL MODES OFFINANCE AND BANKING

With regards to the recentdevelopments in the globalmarket in this field, it isutmost important to have thenecessary required expertisein the field of IslamicFinance for individuals and

institutions operating inthe banking and financedomains in order to keepthem abreast of the developments taking place in theindustry and global marketplace.

Fundamentals of Islamic finance and banking

Aim of exploitation free activities

Financial instruments debt, quasi-debt andprofit-and-loss sharing

The role of money and inflation

Gharar, Maisir and Riba

Islamic finance and wealth distribution

Resource income under Islamic finance rules

Key differences between Islamic and conventional finance

Elimination of risk (conventional) versus bear the risk (Islamic)

Liability and Haram

Borrowing and lending versus Mudarbah andMusharka or Mubadalah

Depositor relations open (Islamic) versus closed (conventional)

Differences in returns to depositors

Transactions - financial asset based (conventional)versus real asset based (Islamic)


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MODULE - 3ISLAMIC BANKING AND FINANCEPRODUCT AND SERVICES Westford School of

Management is established in Middle East andIndia for delivering coursesin Management, IslamicBanking & MBA, awardedby accredited & reputed UK

and Indian universities,Awarding bodies throughonsite and online modes.

Islamic modes of finance

Murabaha, Ijarah, Ijara-was-iktana, Ijarah-wal-iqtina,Bay' Istisna, Ju'ala, Musharaka, Musawamah,

Wadiah, Bai Muajjal, Bai Bithaman Ajil, Mudarabah & Bay Salam

Codification of Islamic Banking Products and ServicesIslamic financing contracts (Mudarabah, Musyarakah,

Salam, Istishna, Ijarah, Qardh)

Islamic financial markets

Islamic Banking Services (Letters of credit, Bank guarantee &

Foreign Exchange (Sharf))

Islamic Asset and Fund Management

Slamic Asset and Fund Management market drivers and restraints

Risk and liquidity management within Islamic finance

Risk and Liquidity Islamic versus convention, Liquiditymanagement, Products and instruments & Shar'iahcompliant schemes

Takaful Islamic Insurance

Insurance business and conflict with Islamic finance principles

Takaful versus conventional insurance

Growth of Takaful

The Sukuk market

A Sukuk versus a bond, Types of Sukuk & Risk and Sukuk markets


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MODULE - 4

GOVERNANCE OF ISLAMIC

BANKING AND FINANCIAL

ORGANIZATION

Association of BusinessPractitioners (ABP) being areputed UK awarding body,the certificate issued byA B P, U K i s a c c e p t e dinternationally by leading

c o r p o r a t e f i r m s a n demployers.

Islamic finance and banking governance frameworks and

challengesStandard-setting organizations

Islamic Financial Services Board corporate governance principles

General Governance Approach

Rights of Investment Account Holders

Compliance with Shar'iah rules and principles

Transparency of financial reporting

Shar'iah Supervisory Boards (SSB)

Regulatory applications associated with Islamic banking

Shar'iah auditing

Delay in payment

Securitization of debt

Shar'iah arbitrage

Short-selling and Islamic finance principlesInternational financial harmonization


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DELIVERY AND ASSESSMENT

Delivery would engage students in their learning by using a range of teaching and

learning techniques that accommodate different learning styles, including:

presentations, case studies, simulations, professional discussions, group activities,

visits, guest speakers and independent research. Assessment will use vocationally

relevant methods that require students to adopt a realistic work role and produce

work in the formats that are expected in business. Examinations and assignments that

use a range of assessment methods will be used. Case studies, problems andexamples used in assessments need to be current and to have the requisite range of

issues for students to consider at this level of study. Students would be able to apply

their understanding of theory to their investigations and to their proposed solutions to

problems.

INDICATIVE READING TEXTS

Jaffer, S (ed.) (2005) Islamic Retail Banking and Finance Global

Challenges and Opportunities. Emerald Group Publishing.

Kettell, B (2010) Introduction to Islamic Banking and Finance. Brian

Kettell, Islamic Banking Training

Iqbal, Z (2011) An Introduction to Islamic Finance: Theory and

Practice. John Wiley & Sons.

Hanif, M (2011) Islamic Banking: Financial Reporting Perspective.

CreateSpace.

Financial soundness,solvency of Islamicbanks remained strongdespite global financialcrisis.


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Westford School of Management brings to you an opportunityto get certified in Islamic Banking and finance , delivered usinginnovative methodology to suit busy work schedules ofworking professionals.

Westford School of Management FZ LLC

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INDIA

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Call +971 52 9263000

For more information please email [email protected]

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PG Diploma in Islamic Finance & Banking - ABP, UK-Brochure