This 1-day “Introduction to Islamic Finance” course provides an overview of the key concepts in Islamic finance as well the nature of contemporary Islamic finance practice. The course is designed to prepare future entrants in the Islamic finance industry in Singapore and elsewhere.
By attending this introductory course, participants will obtain on overview of the key concepts in Islamic finance with an emphasis on the knowledge and skills to:
1.Identify and apply the Shariah fundamentals related to contracts in operations and product related transactions;
2.Analyze the mechanisms and various structures of Islamic Finance;
3.Differentiate between conventional and Islamic Finance products and operations; and
4.Carry out Islamic finance transaction in Singapore.
Upon completion of this course, participants will be encouraged to attend the more intensive 4-day course which is based on IBFIM’s Associate Qualification in Islamic Finance (AQIF) which is designed to meet industry needs and standards. The AQIF qualification seeks to equip and assist working adults as well as industry practitioners to develop their competencies, skills and knowledge in Islamic Finance.
This course is divided into 3 parts:
PART 1 Philosophy and Fundamentals of Shariah for Islamic Finance
This part provides a basic introduction to the origin, sources, purpose and philosophy of Shariah Islamiyah which is the foundation of the Islamic financial system. It will highlight (1) the fundamentals and pillars of the application of Islamic laws in financial practice, which will be a basis for the Islamic financial institutions to comply with the stated laws and principles. (2) the fundamental knowledge of ethics from an Islamic perspective and its relation to Islamic Finance activities. This is based on the principles that Islamic Finance offers global financial stability and high ethical standards.
PART 2 Application of Shariah in Islamic Finance
This part highlights the application and mechanism of the most widely used Shariah contracts in Islamic Finance. Participants will examine and synthesize the various Shariah contracts in structuring Islamic financial products and services. To set the context, participants will also be introduced to the key components in the contemporary Islamic Finance architecture which comprises of the underlying Shariah principles, the instruments and the issues relevant to the Islamic financial products and services.
PART 3 Legal Aspects & Islamic Finance Practice in Singapore
This part provides an introduction to the practice of Islamic finance in Singapore including a review of the legal and regulatory framework. Samples of legal documents governed by Singapore law will be used and past actual transaction will be used as examples.
Author of the book “Islamic Private Equity and Venture Capital” Zaid Hamzah has over 30 years of professional experience in the legal, technology and government sectors. An Adjunct Faculty at the School of Law, Singapore Management University where he teaches Legal Analytics and Artificial Intelligence in Law, Zaid specializes in technology law in the fintech, cybersecurity and data analytics space. A technology and intellectual property lawyer, Zaid is CEO of Asia Law Exchange (ALX) & Strategic Counsel (project in house counsel). ALX is a managed legal service provider focusing on cloud platforms for legal and regulatory risk management and learning for performance.
Zaid is involved in several regulatory technology ventures including legal AI and compliance analytics in the cybersecurity arena. He has served as Director at Microsoft, Chief Legal and Regulatory Officer at Telekom Malaysia and Senior Advisor at Singapore Telecommunication. Zaid practised law with law firm Khattar Wong and Partner. A Singaporean national, Zaid graduated with a law degree from the National University of Singapore and completed his Masters in international relations at the Fletcher School of Law and Diplomacy, Tufts University, USA.
IBFIM www.ibfim.com is a leading training provider for Islamic Finance in Malaysia. IBFIM is a strategic partner of SIFA. IBFIM has developed Malaysia’s qualifications framework in Islamic Finance leading to a capstone qualification called the Certified Qualification in Islamic Finance (CQIF). IBFIM’s Islamic Finance Qualifications Framework & Progression Route consists of three (3) levels, namely Core (AQIF), Intermediate (IQIF) and Advanced (CQIF) levels. At the end of each level, an assessment shall be conducted to evaluate the candidates’ understanding and ability to relate the knowledge gained to practice. The Framework is unique. One does not intentionally register for each Qualification. Instead, one will attend any of the modules at his/ her own pace. Upon fulfilling the requirements of each Qualification, he/ she will register for an assessment to receive the respective Qualification and IBFIM’s Membership. The Framework is designed to meet industry needs in terms of: (i) Flexibility in learning (ii) Progression to a higher level; (iii) Recognized and accredited certifications; and (iv) Bridging industry-university qualifications. The capstone certification, CQIF, offers specializations in Islamic Banking, Takaful and Islamic Capital Market.
AVP (International Business & Licensing)
DID: +65 6632 9530