CENTRE OF ISLAMIC ECONOMICS (CIE)

“AN INSTITUTE UNDER THE SUPERINTENDANCE OF AN EMINENT ISLAMIC SEMINARY”

WE PROUDLY INVITES AN ENROLLMENT IN THE CERTIFICATION COURSE OF

EXECUTIVE TRAINING IN

Shariah Standards in Islamic Finance

(Based on AAOIFI Guidelines)

5 Months Weekend Certification

HELD UNDER THE ADMIRABLE ADMINISTRATION OF
SHEIKH-UL-ISLAM MUFTI TAQI USMANI
WHO IS AN ESSENCE FOR THE WHOLE MUSLIM WORLD.

COURSE OVERVIEW

This course provides a comprehensive understanding of the Shariah standards that govern Islamic financial institutions, as developed by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). It equips learners with the knowledge to analyze, apply, and evaluate Islamic financial instruments, contracts, and governance structures in alignment with Shariah principles.

Module 1: Foundations of Shariah-Compliant Finance

• Introduction to AAOIFI and the Framework of Shariah Governance
• Core Prohibitions: Riba (Usury), Gharar (Uncertainty), and Maysir (Gambling)
• Ethical and Moral Principles in Islamic Financial Dealings
• Shariah Advisory and Fatwa Guidelines (SS 29)

Module 2: Trade and Commercial Contracts

• Murabahah (SS 8): Cost-Plus Sale and Deferred Payment Structures
• Salam and Parallel Salam (SS 10): Forward Sales and Delivery-Based Contracts
• Istisna and Parallel Istisna (SS 11): Manufacturing and Construction Financing
• Ijarah and Ijarah Muntahia Bittamleek (SS 9): Leasing and Lease-to-Own Arrangements
• Contractual Rights, Options, and Revocation (SS 51–54)
• Earnest Money (Arboun – SS 53)

Module 3: Partnership and Investment Structures

• Sharikah (Musharakah) and Modern Corporate Entities (SS 12)
• Mudarabah (Trust Financing) and Profit Distribution (SS 13, 40)
• Investment Agency (Wakalah bi al-Istithmar – SS 46)
• Investment Sukuk, Shares, and Bonds (SS 17, 21)

Module 4: Risk Management and Liability

• Debt, Loan (Qard), and Set-Off Arrangements (SS 3, 4, 19)
• Guarantees and Debt Transfer (Hawalah – SS 5, 7)
• Islamic Insurance (Takaful) and Reinsurance (SS 26, 41)
• Insolvency, Default, and Contingent Liabilities (SS 36, 43)

Module 5: Modern Banking Applications

• Banking Cards: Debit, Credit, and Charge Cards (SS 2)
• Monetization and Commodity Murabahah (Tawarruq – SS 30)
• Syndicated Financing and Agency-Based Arrangements (SS 23, 24)
• Online Financial Transactions and E-Commerce (SS 38)
• Liquidity Management and Capital Protection (SS 44, 45)

Module 6: Socio-Economic Finance and Governance

• Zakah, Waqf, and Charitable Structures (SS 33, 35)
• Employment and Human Resource Guidelines in Islamic Institutions (SS 34)
• Arbitration and Dispute Resolution in Islamic Finance (SS 32)
• Agricultural and Irrigation Partnerships (Musaqqat – SS 50)

Learning Outcomes

1. Understand and interpret AAOIFI Shariah Standards across major Islamic financial products.
2. Evaluate the Shariah compliance of financial contracts and banking operations.
3. Apply ethical, legal, and governance principles in Islamic financial decision-making.
4. Analyze risk, liability, and contemporary issues in Islamic financial institutions.
5. Design and review Shariah-compliant financial instruments for modern markets.

Recommended Audience

• Shariah Scholars and Advisors
• Islamic Bankers and Finance Professionals
• Compliance and Audit Officers
• Students of Islamic Banking, Finance, or Law