Islamic Finance

Why an Islamic finance?

Understanding the fundamentals of Islamic finance

• Economic concepts
• Objectives of the Islamic law
• Key concepts: needs, private property and public domains, time, money
• Management regulations of Islamic financial resources: Riba, Gharar, halal finance, Zakat

Islamic theory of contracts and their influence over Islamic finance

• Major regulations of Islamic commercial law
• Terms of validity within a contract
• Different types of contracts

Islamic finance - Contemporary applications

• Operation of an Islamic bank
• Using Islamic financial instruments

Organisation and governance

• Sharia committee - Dual governance
• Risk management and the impact of international regulations

Contemporary Islamic finance - what does it represent?

• History and description: bank activities, capital markets, asset management
• Challenges and opportunities of Islamic finance in Europe and the rest of the world
• Islamic finance in the financial crisis
• New financial products / structures and recent debates

Islamic capital markets

• Islamic capital markets
• Islamic derivatives and their uses
• Sukuks

Different types of sukuks

• Murabaha sukuk, ljara sukuk, Salam sukuk, Wakalah sukuk
• New structures: hybrids, exotic

Sukuk markets: challenges and opportunities

• Issuance of Sukuks in the Western world
• Basel II and sukuks
• Sukuks and IFRS vs. AAOIFI
• The challenge for Europe