This course is part of the Islamic Banking for Professionals ExpertTrack
Islamic Banking: Shariah Challenges and Realities
Gain knowledge and insights to make informed decisions and contribute to the growth and development of the Islamic banking sector.
Duration
6 weeksWeekly study
1 hour100% online
How it worksIncluded in an ExpertTrack
Course 3 of 4
Islamic Banking: Shariah Challenges and Realities
Develop practical knowledge and skills in Islamic banking and Shariah compliance
On this five-week course, you’ll deepen your understanding of Shariah principles and compliance in Islamic banking.
You’ll enhance your skills in ethical decision making and problem solving – both vital for navigating the challenges in Shariah-related product handling.
Through an exploration of governance practices and real-case simulations, you’ll learn how to apply your knowledge to succeed in Islamic banking and finance while fostering ethical practices that are Shariah compliant.
Enhance your understanding of the Islamic finance sector
You’ll start by gaining an introduction to major causes of Shariah non-compliant events in banking operation.
This will help you understand the importance of the governance and reporting of Shariah non-compliant events.
Delve into Shariah-related products
Next, you’ll explore the limitations and issues in handling Shariah-related products and the strategies to help navigate this.
This will help you ensure compliance while meeting customer needs and marketing demands. Within this, you’ll discover the importance of process flow and documentation during Aqad execution.
Learn from experts in Islamic banking and finance
Finally, you’ll participate in case simulations on rescheduling and restructuring (R&R) to help you apply your knowledge to formulate strategic solutions in real-world scenarios.
Learning from industry experts, you’ll finish the course with the skills to excel in the Islamic banking industry while adhering to ethical standards.
Syllabus
Week 1
Introduction to the Causes of Shariah Non-compliant Events in Banking Operations
Welcome to the Course
Dive into Islamic banking, where you'll refine your skills, enhance ethical decision-making, and become a sought-after professional in the industry.
Major Causes of Shariah Non-compliant Events in Banking Operations
Discover the significant triggers of Shariah non-compliant events in banking operations. Explore the role of people, products, processes, and external events in understanding and mitigating these critical challenges.
Check your Understanding
This short true/false quiz will test your understanding of the importance of Shariah non-compliance risks in the banking sector.
Key Takeaways for Week 1
Key takeaways for Week 1
Week 2
Importance of Governance and Reporting of Shariah Non-compliant Events
Importance of Governance and Reporting of SNCE
Let's explore what are the main reasons for governing and reporting of SNCE.
Check Your Understanding
This short true/false quiz will test your understanding of the importance of governance and reporting of SNCE.
Key Takeaways for Week 2
Key Takeaways for Week 2
Week 3
Challenges in Handling Shariah-related Products
Navigating Challenges: Shariah Compliance in Islamic Banking
Explore hurdles faced by Islamic banks: diverse interpretations, lack of standards, complex instruments, risk management, innovation, skills shortage, and public awareness. Discover solutions!
Check Your Understanding
This short true/false quiz will test your understanding of the limitations and issues in handling Shariah-related products.
Key Takeaways for Week 3
Key takeaways for Week 3.
Week 4
Importance of Process-flow and Documentation During the Process of Aqad Execution
Why Process-Flow and Documentation Are Key to Shariah-Compliant Aqad Execution
In Islamic finance, the process of executing an Aqad (contract) must comply with Shariah principles. This means that the contract must be fair, transparent, and free from any usury or Gharar (uncertainty).
Check Your Understanding
Check your understanding on Week 3.
Key Takeaways for Week 4
Key takeaways for Week 4
Week 5
Case Simulation and Discussion on Rescheduling and Restructuring (R&R)
Case Study 1: SNCE on a package of Ijarah Term Financing and BBA Cash Line financing for business
Case simulation and discussion on Rescheduling and Restructuring (R&R).
Case Study 2: SNCE on the absence of commodity trading in respect of Commodity Murabahah Revolving Financing (CMRF)
Simulation and discussion on Rescheduling and Restructuring (R&R).
Complete the Course
Congratulations, you have completed the 5-week lessons. Next, to obtain the certificate of completion, you are required to take the course assessment. Details of the course assessment are provided on the next page.
Week 6
Assessment
Test Your Knowledge
A minimum score of 80% is required to pass and demonstrate proficiency.
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Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Apply a deep understanding of Shariah principles and compliance requirements in Islamic banking operations, enabling ethical decision-making and conduct within the industry.
- Identify major causes of Shariah non-compliance events in banking operations, allowing for effective identification, assessment, and mitigation of potential non-compliance risks.
- Design effective governance and reporting strategies for Shariah non-compliant events, promoting transparency, accountability, and regulatory compliance within the Islamic finance sector.
- Investigate and propose strategies to navigate limitations and challenges in handling Shariah-related products, ensuring compliance while meeting customer needs and market demands.
- Engage in case simulations and discussions on Rescheduling and Restructuring (R&R), applying knowledge to formulate strategic solutions, and enhancing critical thinking and problem-solving abilities in real-world scenarios.
Who is the course for?
This course is designed for a wide range of stakeholders.
It will benefit professionals in the Islamic finance industry, students, regulators, investors, customers, academics, and researchers.
Who will you learn with?
Teaching Fellow at INCEIF University Malaysia in the post-graduate and professional studies in Islamic Banking & Finance. An accredited trainer and active module writer, exam reviewer and consultant.
Who developed the course?
INCEIF
INCEIF is considered to be the knowledge leader in Islamic finance through providing excellent teaching, research and thought leadership.
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