WHAT YOU WILL LEARN
- Comprehensive knowledge of AAOIFI Shariah standards and their application in Islamic financial institutions.
- How to ensure compliance of financial products with Islamic principles.
- Practical application of Shariah standards in real-world banking and finance.
- Understanding of the regulatory framework governing Islamic finance and its alignment with ethical standards.
SKILLS YOU WILL GAIN
- Mastery of AAOIFI Shariah standards across accounting
- auditing
- governance
- and ethics.
- Proficiency in applying Islamic finance principles to financial products and services
- Ability to identify Shariah compliance risks and ensure regulatory alignment
- Analytical skills for interpreting real-world Islamic finance case studies
- Knowledge of ethical considerations and the impact of Islamic values in finance
Description
This course provides a deep dive into the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Shariah standards, which are pivotal in guiding Islamic financial institutions towards Shariah-compliant operations. It aims to equip participants with the skills and knowledge required to navigate the complexities of Islamic finance, ensuring compliance with Islamic principles while contributing to the ethical and regulatory frameworks of the industry.
Learning Objectives
- Understand the foundations and principles of AAOIFI Shariah Standards.
- Learn key Islamic financial concepts like Murabaha, Mudaraba, Ijarah, and Sukuk.
- Analyze contemporary applications of Islamic finance.
- Develop skills to evaluate financial transactions for Shariah compliance.
Learning Outcomes
By the end of this course, participants will:
- Acquire a strong understanding of AAOIFI Shariah Standards.
- Apply Islamic financial principles in various transactions and investments.
- Develop the ability to interpret and implement financial rulings.
- Be prepared to handle ethical dilemmas in financial operations.
Weekly Lectures Plan
Week 1: Introduction to Banking and Loans
- Loan (Qard)
- Default in Payment by a Debtor
- Banking Services
- Payment Cards
Week 2: Financial Partnerships and Corporations
- Sharika (Musharaka) and Modern Corporations
- Financial Papers (Shares and Bonds)
Week 3: Leasing and Employment
- Ijarah and Ijarah Muntahia Bittamleek
- Jua’la
- Hiring of Persons
Week 4: Legal Aspects and Arbitration
- Disposal of Rights
- Bankruptcy
- Options in Legal Contracts
- Arbitration
Week 5: Digital and Combined Financial Dealings
- Online Financial Dealings
- Credit Agreement
- Combination of Contracts
Week 6: Guarantees and Mortgages
- Guarantees
- Possession (Qabd)
- Mortgage and its Contemporary Applications
Week 7: Agency and Investment Financing
- Agency
- Investment Agency
- Syndicated Financing
Week 8: Sale-Based Financing
- Murabaha to the Purchase Orderer
- Monetization (Tawarruq)
Week 9: Debt and Currency Transactions
- Hawala
- Settlement of Debt by Set-Off
- Trading in Currencies
Week 10: Risk Management in Financial Transactions
- Impact of Contingent Incidents on Commitments
- Controls on Gharar in Financial Transactions
Week 11: Profit-Sharing and Calculations
- Mudaraba
- Distribution of Profit in Mudarabah-based Investments Accounts
- Rules for Calculating Profit in Financial Transactions
Week 12: Waqf and Insurance
- Waqf
- Islamic Insurance
- Islamic Reinsurance
Week 13: Sukuk and Concessions
- Investment Sukuk
- Concession Contracts
Week 14: Market Instruments and Conversion
- Indices
- Commodities in Organised Markets
- Conversion of a Conventional Bank to an Islamic Bank
Week 15: Financial Documentation and Liquidity
- Documentary Credit
- Commercial Papers
- Liquidity Management
- Protection of Capital and Investment
Bonus Week 16 (Optional): Salam and Zakah
- Salam and Parallel Salam
- Istisna’a and Parallel Istisna’a
- Stipulations and Ethics of Fatwa in the Institutional Framework
- Zakah
How the Specialization Works
-
Course Access:
The course will be delivered through the DODL’s online learning platform, allowing participants to access lectures, case studies, and assignments at their convenience. -
Virtual Learning Sessions:
Weekly virtual sessions will be held, where participants can interact with industry experts, engage in discussions, and explore real-world applications of AAOIFI Shariah standards. -
Assignments and Case Studies:
Practical assignments and case studies will be provided to reinforce understanding and application of Shariah standards in Islamic finance. Feedback will be provided for each assignment to ensure continuous improvement. -
Peer Collaboration and Discussion Forums:
Interactive discussion forums will allow participants to collaborate with peers, share insights, and ask questions. These forums will also be moderated by faculty to enhance learning experiences. -
Certification and Assessment:
After successful completion of the course, including assessments and assignments, participants will receive a certificate recognizing their expertise in AAOIFI Shariah standards.
Module 1 - Introduction to Banking and Loans
7 Topics
-
Topic 1: Introduction Standard Setting Bodies for Islamic Banking
Video
-
Topic 2: Shariah Standard and Methood of Teachnig
Video
-
Topic 3: Defination of Qard
Video
-
Topic 4: Element of a Loan (Qard) Contract and its Conditions
Video
-
Topic 5: Rules for excess benefit not stipulated in the contract
Video
-
Topic 6: Stipulated of a Contract in Qard
Video
-
Topic 7: Key Modern Application of Qard
Video
Module 2 - Financial Partnerships and Corporations
13 Topics
-
Topic 1: Financial paper
Video
-
Topic 2: Rules for dealing in sharia
Video
-
Topic 3: Rules for dealing in sharia part 2
Video
-
Topic 4: Rules for issuance of bonds
Video
-
Topic 5: Indices
Video
-
Topic 6: Types of Indices
Video
-
Topic 7: Rules for calculating profit in financial transactions
Video
-
Topic 8: Shirkah (musharka) and modern corporations
Video
-
Topic 9: Definition , classification and types of shirkat al Aqd
Video
-
Topic 10: Traditional fiqh nominate partnership
Video
-
Topic 11: Traditional fiqh nominate partnership/ part2
Video
-
Topic 12: Modern corporations
Video
-
Topic 13: Modern corporations /part 2
Video
Module 3 - Leasing and Employment
11 Topics
-
Topic 1: Ijarah and ijarah muntahia bittamleek
Video
-
Topic 2: Promise to lease (an asset)
Video
-
Topic 3: Concluding an ijarah contract and the forms of ijarah
Video
-
Topic 4: Subject matter of ijarah
Video
-
Topic 5: Changes to the ijarah contract
Video
-
Topic 6: Transfer of the ownership in the leased property in ijarah muntahia bittamleek
Video
-
Topic 7: Ju'alah
Video
-
Topic 8: Elements of ju'alah and its conditions
Video
-
Topic 9: Hiring of persons
Video
-
Topic 10: Concluding a contract for hiring of persons
Video
-
Topic 11: Subject matter of hiring contract
Video
Start Learning Today
- Holistic Learning Path
- Practice Tracker for Skill Building
- Shareable Certificates
- Self-Paced Learning Option
- Course Videos & Readings
- Practice Quizzes
- Graded Assignments with Peer Feedback
- Graded Quizzes with Feedback
- Graded Assignments
Frequently asked questions
What is the Certificate in AAOIFI Shariah Standard (CASS)?
This certificate course provides an in-depth understanding of AAOIFI Shariah Standards, focusing on their practical applications in Islamic banking, finance, and other Shariah-compliant practices.
This Course Includes
- Duration: 45 Hours
- Modules: 15
- Fee Status: Paid
- 100% Online Course
- Shareable Certificate
- Flexible Schedule
- Level: Beginner
- Language: English,Urdu
