INTRODUCTORY ISLAMIC FINANCE
Breakfast, lunch, and snacks are included in your tuition of $2,695 (early bird pricing expires March 2nd).
ADVANCED ISLAMIC FINANCE
Breakfast, lunch, and snacks are included in your tuition of $1,895 (early bird pricing expires March 9th).
Introductory Islamic Finance
After learning the basic sources and methodology of Sharia, we will discuss the moral and ethical underpinnings of the Islamic moral economy (riba/interest/usury, gharar/uncertainty, maisir/gambling, non-discharge of debt, absence of corporation, mandatory fixed share inheritance, absence of modern limited liability, Zakat (obligatory charitable contribution), and other ethical guidelines). We will also study Islamic law governing contracts, property, and business transactions. We will also study the Islamic law of sale (murabaha, salam, istisna’a), leasing (ijarah), partnerships (sharakat), Islamic bonds (sukuk), and mutual insurance (takaful). With the knowledge acquired during the course, we will then conclude with a survey of the arguments advanced by the proponents and opponents of modern Islamic finance and the future of this rapidly emerging industry.
Advanced Islamic Finance
In the advanced course we will study and discuss:
- The use of the Murabaha & Musawamma structures in commodity transactions, working Capital transaction and in real estate acquisition.
- The use of Ijara (lease) structure (the most common structure) in real estate acquisition financing in the United States and the “Istisnā” – Ijara structures to finance construction and development projects.
- The use of Sukuk (Islamic bonds) and survey the top Sukuks around the world.
- Introduction to Islamic Banking Models, including retail banking products such as home financing.
- Sharia-Complaint mutual funds and investment portfolios in the United States.