ISLAMIC BANKING PRODUCTS AND CONTRACT
Islamic banking products and services are structured based on various forms of Shari’ah contracts. The value proposition of Islamic banks (IBs) is manifested in the application of a diverse spectrum of Shari’ah contracts in their business activities, i.e deposit, investment and financing, which provides different risk and return profiles and draws its natures and objectives upon which Islamic banks are established. Contract therefore plays a fundamental role in providing the criteria and parameter for determining the Shari’ah compliant status of every financial transaction entered into by IBs. Failure to observe the Shari’ah requirement in the contract will render the transactions being null and void, and the income derived from there cannot be recognized as profit. The two-days training is designed to provide a comprehensive discussion on the Shari’ah contracts and their application in Islamic banking operation.
Understand the important position of contract in Islamic banking
Understand the main prohibitions in Islamic banking
Understand the application of contract in Islamic banking
Differentiate between Islamic Banking and Finance
Fundamental of Shari’ah
Shari’ah principles governing Islamic Banking
Main prohibitions in Islamic Banking
Shari’ah Contracts applicable for Islamic Banking
Application of Shari’ah Contract in Deposit Products
Application of Shari’ah Contract in Financing Products
Shari’ah issues in Islamic Banking
Difference between Islamic Banking and Finance.
Who Should Attend
DR MOHAMMAD MAHBUBI ALI
Dr Mohammad Mahbubi Ali is a research fellow at the International Institute of Advanced Islamic Studies (IAIS) Malaysia. He also serves as a Shariah committee member of Affin Islamic Bank, Shariah consultant for ZICO Shariah Advisory Bhd and Roosdiono & Partners. Previously, he was a researcher at the International Shari’ah Research Academy for Islamic Finance (ISRA). During his stint at ISRA, he had contributed to numerous ISRA’s research publications, mainly involving in Central Bank of Malaysia’s Shari’ah Standards. He was a lecturer at the University of Kuala Lumpur and Unitar International University. In his young age, he has managed to contribute extensively to Islamic finance through his regular writings featured in the Islamic Finance News (IFN), Business Islamica, The General Council for Islamic Banks and Financial Institutions (CIBAFI), Epicentre and many others.
He has published numerous articles in international and local referred academic journals, written several book chapters and presented a number of papers in various international conferences. His paper entitled: “A Framework of Income Purification for Islamic Financial Institutions,” co-authored with Dato’ Dr. Asyraf Wajdi Dusuki and Lokmanulhakim Hussain, was conferred best paper presentation in Sharia Economics Conference, University of Hannover, Germany, 2013. He received a bachelor degree in Shari’ah Business and Financial Management from Islamic Business School, Tazkia Indonesia, Chartered Islamic Finance Professional (CIFP) from INCEIF, The Global University in Islamic Finance, Malaysia and PhD in Islamic Banking and Finance from the IIUM Institute of Islamic Banking and Finance, Malaysia.