Course: Islamic Finance - Principles, Products, Strategic Challenges & Financial Innovations

Singapore

Why Attend?
Assets of Islamic financial institutions now approach US$400 billion. Islamic financial products are now sold in more than 75 countries. It is predicted that the Islamic market will continue growing at annual rates averaging 15% in the next decade.

The Islamic market has become extremely sophisticated as well as increasingly competitive. Today, virtually all large Western financial institutions are involved in Islamic finance whether through Islamic subsidiaries, "Islamic windows" or the marketing of Islamic products.

Course Objectives
This comprehensive course emphasises the evolutionary and interconnected nature of Islamic finance. Practitioners must understand the underlying religious principles and their interpretation. They must also be aware of the diversity and adaptive mechanisms of Islam. Since first coming into existence in the 1970s, Islamic finance has undergone major changes. Today the fastest growing segments of the industry are outside traditional banking products and in areas that were initially dismissed as Islamically unacceptable - such as Islamic bonds ("sukuk") or insurance ("takaful") - or that barely existed at the time - Islamic mutual funds, for example.

The first day of the course will introduce the principles and practice of Islamic finance: religious principles and
their interpretations (riba, gharar, zakat, and the "moral economy" of Islam): the two aggiornamentos of Islamic
finance; country differences.

The second day will explore Islamic financial products. It will cover Murabaha and other cost-plus products, Ijara, Islamic project finance, Islamic derivatives and tradeable instruments, Islamic mutual funds, Islamic real estate funds, Islamic equity funds, Islamic micro-finance, Islamic insurance and Islamic Sukuks, with a special focus on the process of transforming conventional products into Islamic ones.

The third day will provide an overview on Islamic strategic issues and challenges: Islamic ALM, accounting and auditing principles, political, taxation and regulatory issues will be discussed.

This three-day course enables participants an allround understanding to Islamic Banking and Finance. It is designed to help participants:

• Understand the fundamental religious principles underlying modern Islamic finance
• Manage Islamic institutions
• Create Islamic units, divisions and subsidiaries
• Meet the strategic and regulatory challenges facing Islamic institutions
• Become familiar with the full range of Islamic products and instruments
• Create and market new Islamic financial products
• Transform conventional products into Islamic ones
• Devise marketing and growth strategies
• Anticipate the future of Islamic finance

Who Should Attend?
Anyone involved in any aspect of Islamic finance (commercial or investment banking, insurance, mutual funds etc.); anyone considering entering the field, or creating and marketing Islamic products; professionals who deal or intend to deal with Islamic institutions; regulators; international bankers; emerging market specialists.

Course page at EuroMoney.