Introduction to islamic finance

Understand the products, the existing and potential market

  1 day
Course objectives

  • Understand the essentials of Islamic Finance foundations and concepts

  • Know the main Islamic banking and investment products

  • Identify the issues in the Islamic financial services industry

Course content

The basics of Islamic Finance

  • Sources of the Sharia
  • An ethical finance
  • Prohibition of the riba (interest)
  • Prohibition of gharar (uncertainty)
  • Other forms of bans
  • Charitable distributions (Zakat and Sadaqat)

Foundations and role of Islamic finance and banking

  • Differences between conventional and Islamic banks
  • The role of the Sharia Board
  • Development of Islamic banking and finance
  • Overview of the actors in the world
  • Islamic banking in the GCC countries and in Asia
  • Islamic finance development in Europe and Africa
    • Key figures, domestic and foreign markets

Islamic financial contracts: Overview of the Islamic banking operations and products

  • Mudaraba, Musharaka, Murabaha, Ijara, Salam, Istisna'a
  • Islamic equity and capital market
    • Hedging in Islamic finance (derivatives tools)
      • The Framework Agreement Tahawwut - ISDA / IIFM
      • Interest rate swaps and currency swaps beneficiaries
      • Wa'ad
    • Sharia-compliant equity trading
      • Know the cash management tools
      • The Commodity Murabaha
      • Wakala
  • Trade financing (letters of credit and guarantees in Islamic finance contracts)
  • Sukuk-the Islamic bond market
  • Takaful-the Islamic insurance
    • Know the differences between conventional insurance and Islamic insurance

Case Study: Qualitative and quantitative screening

Challenges of the Islamic financial institutions

  • Regulation, Sharia compliance and standardization

Case Study: How does a product become Sharia compliant?

  • Development of an Islamic money market
  • Overview of the Islamic risk management tools
  • Islamic Asset and Fund Management

Case Study: An Islamic fund prospectus analysis

  • The Islamic funds (equity funds, real estate funds, hedge funds and private equity)
  • Stock selection process and screening
  • Sharia-compliant short selling
  • Highlight the need of development of the Zakat



Nasser Abdelhafid

After 15 years of experience in the international finance, Nasser is currently a Risk Manager at BNP Paribas. Also specialized in Islamic finance (Islamic Structured Finance, Islamic Securities Services and Islamic Risk Management), Nasser will share his expertise to ensure a complete understanding of the influence of the Sharia in the Islamic financial industry.

Nasser Abdelhafid also teaches :