Fundamentals of Shariah for Islamic Finance
The e-learning videos cover the fundamental knowledge of the Shariah principles and applicable contracts in Islamic Finance. Altogether, the bite-sized e-learning videos has a total duration of 3.5 learning hours.
This course shall elaborate the relevant concepts and principles of Shariah in Islamic Finance. In general, the content provides the understanding of the origin, sources, purpose, and philosophy of Shariah which is the foundation of the Islamic financial system.
The e-learning videos also aim to highlight the fundamentals and application of Islamic laws in financial practice, which forms the basis for the Islamic financial institutions to comply with the legal requirements and principles.
Upon completion of all topics, learners are encouraged to sit for the Fundamental of Shariah in Islamic Finance (FOSIF) assessment. As FOSIF holder, learner can then pursue to the next level of IBFIM certification, the Associate Qualification in Islamic Finance (AQIF).
AQIF is recognised by the Chartered Institute for Securities & Investment (CISI), a leading security, investment, wealth and financial planning professional body that is based in the United Kingdom.
Wait no more! Register your interest at ea@ibfim.com or digitallearning@ibfim.com.
*Terms and conditions apply.
The objective of this course are:
- Acquire basic knowledge of Shariah, the requirements of Muamalat contracts and the differences between Islamic and Conventional Finance.
- Understand the concept of Shariah, its objectives, sources, governance and the rule-making process in Islamic law.
- Discuss the classification of Muamalat contracts commonly practised in mainstream Islamic finance products and services
The course is suitable for:
- Islamic finance practitioners
- Academicians
- Students
- Public
Language: English
Introduction to Shariah and Fiqh
- Discuss the basic components of Islam.
- Define the meaning of Shariah.
- Discuss the definition and classification of Fiqh.
- Explain the salient features of Shariah.
- Explain the relationship between Shariah and Fiqh.
Rule Making Process in Islamic Law (Ijtihad)
- Define Ijtihad.
- Describe the historical development of Ijtihad.
- Explain the salient features and differences of opinion among the Schools of Islamic Law.
- Discuss the reasons why divergence of opinion is acceptable in Islam.
- Discuss the ethics of disagreement in Islam.
Introduction to Muamalat Contracts in Islamic Finance
- Describe and identify the main theories of Muamalat.
- Discuss the appropriate Shariah contracts and classification of contracts to facilitate the clients' requirements.
Exchange Contracts: Sales contracts and Lease Contracts
- Define exchange contracts: sale contracts contracts and lease contracts.
- Discuss sale contracts and lease contracts, their specific conditions, products and applications.
Partnership and Other Contracts Applied in Islamic Finance
- Discuss partnership contracts, their specific conditions, products and applications.
- Discuss other contracts, their specific conditions, products and applications.
Ethics in Banking: Related Policy and Guidelines
- Discuss the concept of financial consumer protection.
- Comprehend the guidelines on product transparency and disclosure.
- Describe the importance of responsible finance.
- Describe the practices of “fair debt collection”.
Shariah Governance in Islamic Financial Institutions
- Describe the overview of Shariah governance.
- Describe Bank Negara Malaysia (BNM) Shariah governance arrangements and principles.
- Articulate the BNM Shariah governance arrangements.
Case Study: Issues and Challenges in Implementing Shariah Governance
- Discuss the issues and challenges in implementing Shariah Governance.
Rule-Making Process in Modern Islamic Banking and Finance
- Explain the Shariah Governance Framework in Islamic Banking and Finance in Malaysia.
- Discuss the roles and duties of the Shariah Advisory Council (SAC) of Bank Negara Malaysia (BNM) and Securities Commission (SC).
- Discuss the roles and duties of the Shariah Committee.
- Discuss the roles and duties of Shariah Advisor at the Fund Management level.
- Discuss the roles and duties of the Shariah Officer at the Institutional level (Banks and Takaful).
Overview of Fiqh Muamalat
- Discuss the salient features, basic principles, and importance of Muamalat.
- Discuss the relationship between Muamalat and Islamic economy.
- Discuss the general prohibitions in Muamalat contracts.
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