Certified Islamic Banker

CERTIFIED ISLAMIC BANKER

In Collaboration with AAOIFI

 

 

PROGRAM OVERVIEW

Islamic banking and finance has witnessed phenomenal growth during last decade with the UAE developing into a global hub of Shari’ah complaint economy and finance. 

As the number of financial institutions offering Islamic products is increasing, there is a pressing need for qualified professionals with in-depth knowledge of Islamic banking transactions and products who can meet the requirements of this growing Islamic finance market. 

With the establishment of the HSA, the Higher Shari’ah Authority, the Islamic Banking sector in the UAE is set for transformational changes.  The HSA is supervising the implementation of Shari’ah Standards issued by AAOIFI, the Accounting and Auditing Organization for Islamic Financial Institutions. All financial institutions offering Islamic products must be fully complaint of the AAOIFI standards.

The program ‘Certified Islamic Banker’ aims to develop qualified personnel with strong knowledge of Shari’ah standards, Islamic banking products and operations as well Islamic financial market operations amongst employees across all functional areas to avoid any non-compliance issues.

The program has been designed in line with the Standards of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) as required by the Higher Shari’ah Authority (HSA), appointed by the Central Bank of the UAE.

LEARNING OUTCOMES

After the completion of this course, the learners would be able to understand the:

• Key guiding principles of Islamic banking and finance
• Islamic banking VS conventional banking: Main differences in fund management and operations
• Regulatory and Shari’ah framework for Islamic banking and finance institutions
• Overview of the AAOIFI Shari’ah Standards for most used transactions
• Types and structure of Islamic banking products; Liability products, Asset products, corporate banking products; Investment products
• Islamic financial market operations; Islamic stocks, Sukuk, takaful Investment products, Islamic Fintech

The Certified Islamic Banker Certification program is offered in Five Modules. 

MODULE ONE

Islamic banking concepts and operations; AAOIFI Shari’ah Standards for most used transactions

After the completion of this course, the learners would be able to understand:

• Key guiding principles of Islamic banking and finance
• General Prohibition, Instructions; Key differences with conventional banking
• Regulatory and Shari’ah framework for Islamic banking and finance Institutions (Special focus on the role of Higher Shari’ah Authority of the Central Bank of the UAE)
• AAOIFI Shari’ah Standards for most used transactions in Islamic banks: Murabahah, Mudarabah; Musharakah; Ijaraha, Forward Ijarah, Wakalah,

MODULE TWO

Islamic Liability Products and Card Operations

After the completion of this course, the learners would be able to understand:

• Liability products and their structures in Islamic banks
• Types of deposits and their structure: Current account; Saving deposit, Investment deposits: based on Mudarabah; Wakalah &, Murabahah; Process and mechanism of fund management in Islamic banks
• Card products in Islamic banks; Shari’ah viewpoint on credit card products. (AAOIFI guidelines)
• Types and mechanism of card products and underlying Shari’ah contracts for different types of cards in Islamic Banks

MODULE THREE

Islamic Asset Products

After the completion of this course, the learners would be able to understand:

• Nature and structure of financing (Asset) products in Islamic banks
• Retail banking product: Vehicle finance; Consumer finance, Personal finance products
• Home Finance Products for ready and under-construction property – standard ijarah, & forward Ijarah structures
• Documentation, guarantees, risks and compliance issues

 MODULE FOUR

Islamic Corporate/Business and Trade Financing and Working Capital Financing

After the completion of this course, the learners would be able to understand:

• Import and export financing products in Islamic banks, local and International trade solutions
• Working capital financing products: short term-long term solutions; Structured solutions
• Syndicated Financing; Structured products for project Financing
• Documentation, Guarantees, Default treatment and fraud prevention measures

MODULE FIVE

Islamic Financial Markets and Islamic Fintech

After the completion of this course, the learners would be able to understand:

• Sukuk structuring and issuance processes, AAOIFI Shari’ah Standard
• Key sukuk types, structures, innovation: case studies; legal, credit, Shari’ah, trading issues
• AAOIFI guidelines for investment and trading of commercial papers, equity screening for investment and trading
• Structure and types of Islamic investment funds; Takaful saving and investment funds.
• Fintech application in Islamic finance

 DELIVERABLES

• Certification for successful participants jointly between EIBFS & AAIOFI delivered virtually at the scheduled time and dates with full attendance report.

TARGET AUDIENCE

• Employees across the organization for a general understanding and officials in all functional departments to ensure full compliance with AAIOFI Standards as required by the Central Bank of the UAE.
• Professionals working in the financial sector who would like to develop skills and broaden their knowledge in the Islamic finance industry.
• Anyone wishing to enter the Islamic financial services sector.

COURSE DELIVERY METHOD

Course is delivered as Virtual Interactive Live Class on zoom platform.

Assessments and other learner engagement initiatives will be conducted on the LMS platform of EIBFS.

An interactive methodology based on extensive use of example, case studies, class work, exercises, guest experts, progress assessment, final exam.

 ASSESSMENT AND GRADING

The candidate’s learning progress during the course and overall learning achievement shall be assessed and monitored using formative and summative methods, and a variety of instruments and teaching strategies. They include end of the module quizzes, presentation, instructor’s observation of learner’s progress, and a final exam.

• Quiz: After completion of each module formative assessment will be held. Each quiz shall carry 5 marks in the form of MCQs and True and False questions.
• Final Exam: A final summative assessment will be held after completion of all five modules.

The final mark distribution shall be as follows:

• 25% weightage for quizzes (formative assessment 20 questions).
• 15% weightage for presentation, overall learning participation, performance, instructor’s observation.
• 60 % weightage (summative assessment 80 questions) for final exams. (16 questions from each module).

A candidate should achieve 60% marks to become certified.

The exam could be in classroom or live online proctoring. Candidates should have the device like laptop with camera for the online proctored exam

 EIBFS UNIQUE STRENGTHS FOR ISLAMIC FINANCE CERTIFICATION

• EIBFS is a pioneer of Islamic finance education in the UAE. We have offered the first Islamic banking diploma program in GCC region.
• We have a collaboration with AAOIFI to offer Islamic Banking education and training programs in the UAE.
• EIBFS has signed an MOU with Dubai Islamic Economy Development Center, the high-profile entity set up by Govt of Dubai to enhance scope of Islamic Finance.
• We have a highly renowned and highly scholarly faculty, and pool of global experts in the domain.
• EIBFS faculty can make the complex standards simple for businesses to meet their learning needs, with a high ROI on learning solutions.

 TOTAL PROGRAM DURATION

60 Hours (delivered over 12 days, 5 hours each day)

PROGRAM INVESTMENT

Cost per participant is 9,500AED + VAT.

This cost includes Training, Exams and Certification.

ENROLLMENT

For further information on course start dates and enrollment please contact certificates@eibfs.com

Bank employees may contact their training department for enrollment.