WORKSHOP

Workshop

Target Group

Employees and managers at all levels including directors, managers, officers, and anyone who is expected to provide services, advice, guidelines, etc related to Interest-Free Banking (IFB) products and services in their respective companies.

Objectives

The objective of this Masterclass is to improve knowledge of participants on philosophies and principles of IFB as well as provide an in-depth understanding of mechanisms of IFB products and provision of services.

Eligibility

Applicants are required to have a Bachelor’s degree from a recognized institution of higher learning.
English proficiency is also a must. It is essential that candidates are able to speak and write in English.

Description

This 5-day Masterclass covers almost every aspect of Interest-free Banking and Finance. We provide a comprehensive training content from: its difference from conventional banking; available IFB models; mode of partnerships; operational matters; alternative products and services and more. The Masterclass is an opportunity to learn from international experts and practitioners in the areas of IFB.

Content

  1. INTRODUCTION TO INTEREST-FREE BANKING – The need for interest free banking, its difference from conventional banking, its history, and its deposit and asset building modes.
  2. PARTNERSHIP BASED MODEL OF INTEREST-FREE BANKING & FINANCE – Musharakah, Mudarabah, Profit and loss distribution mechanism, Housing Finance with diminishing Musharakah, Saving accounts and term deposits on the bases of Mudarabah
  3. OPERATIONAL MATTERS OF INTEREST-FREE BANKING – Risk Management, Unique risks in Interest free Banking, Hedging in interest free banking, Accounting of interest free banks and financial institutions
  4. OTHER PRODUCTS AND SERVICES – Takaful (Islamic Insurance), Sukuk (Islamic Bond) and Ijarah (Islamic Lease)