Islamic Finance – Principles And Practice

Learning about basics of Islamic finance

What you’ll learn
Principles of Islamic Finance
Basics of Islam
Understand role of Islamic financial institutions
Understand the concept of Riba
Understand the concept of Al-Gharar
History of Islamic Finance
Contract forms in Islamic Finance
Requirements
No requirements needed
Description
This course is part of a course series focusing on Islamic finance, specializing in certain topics of Islamic finance. The principles of Islamic finance will provide you with a thorough overview of the principles of finance in Islam, starting with the history of Islamic finance, in addition to the basics of an Islamic financial system and its main characteristic. Islam distinguishes itself from other economic systems in that religion provides a solid rule-based foundation for how economic transactions and interactions shall take place.Hence, understanding the foundations of Islamic finance becomes vital to succeed in modern finance and the growing presence of this sector.The course will start with an overview of the history of Islamic finance that provides you with an immersion into the fascinating history of Islam and Islamic finance. Comprehending the historical relationships and connection will allow you to understand the rules and their objectives as well as the will of god.The next section will provide an overview of the Islamic financial system and its foundation. This covers the basics at the core of the Islamic economic system and principles based on which it is built, which includes property rights, trust and wealth in addition to collaboration and competition.This is then subsequently followed by a more detailed study of the elements of Islamic finance, and a more particular focus on the variety of contracts that are encountered in Islamic finance. For newcomers this will amaze them learning how elaborated contract types have been dealt within in the Quran and are utilized in Islamic finance. Most modern contractual forms have their basis in these contracts that cover a wide variety of different contractual requirements.The final section will then provide a solid summary and conclusions about Islamic finance. The course contains both exercises and handouts with various notes and information.

Overview

Section 1: Introduction

Lecture 1 Introduction

Lecture 2 Course Outline

Section 2: History of Islamic Finance

Lecture 3 The beginnings

Lecture 4 Early financial instruments

Lecture 5 A new era

Lecture 6 Comprehensive reforms

Lecture 7 Rapid growth of Islamic finance

Lecture 8 Tawarruq

Section 3: Islamic financial system

Lecture 9 Islamic financial system – Fundamentals

Lecture 10 Principles of Islamic economic system

Lecture 11 Property rights

Lecture 12 Contracts

Lecture 13 Trust

Lecture 14 Wealth

Lecture 15 Competition and Cooperation

Section 4: Islamic finance – Characteristics and contract types

Lecture 16 Efficiency of Islamic financial systems

Lecture 17 Types of financial markets

Lecture 18 Ethics in Islamic finance

Lecture 19 Contract types

Lecture 20 Sale contracts

Lecture 21 Sale contracts – mode of payment

Lecture 22 Financing contracts

Section 5: Summary & Conclusion

Lecture 23 Islamic Finance – a summary

Individual interested in Islamic Finance,Practitioners in Islamic Finance that want to gain a fundamental understanding,Finance practitioners,Students in Finance & Business