Islamic Finance - Transactions - rules and principles MONTH 1

Link to video explaining more about the course: TWITTER VIDEO

Link to newsletter explaining the course: NEWSLETTER

Link to purchase tickets for the course: TICKETS

TO ATTEND THIS COURSE PLEASE GO TO THE PLANS PAGE HERE AND SELECT THE ISLAMIC FINANCE COURSE AT £10 PER MONTH - DO NOT PURCHASE THE FIRST MONTH HERE ON THIS PAGE

The webinars will be weekly (date and time to be decided), and will last 60-90 minutes per week, All sessions will be recorded and made available later. The course will last 4 months or so. I prefer NOT TO CHARGE, however participants tend to treat this with disrespect in my experience. Hence there is a nominal charge of £10 per month. 

We will first look at key rulings in Islam relating to business transactions, and how this relates to key principles with a clear focus on Riba. We will examine Hadith and will look at the deeper meaning behind the rules and prohibitions. We will discover how to derive key principles by looking at the INTENT behind these rulings. This is an area that is greatly under-analysed in Islamic Finance.

Once we derive these key principles, we wll see how these are applied in Islamic Finance, and look at products such as deposits, loans, Sukuk, home and car financing and so on.

NOTE ON TICKET PRICING:

• Please go the PLANS page and select the Islamic finance course at £10 per month 
• If you wish to support other attendees for whom £10 per month is a lot of money (eg students or people in developing countries), please select any number of tickets greater than 1 ON THIS PAGE BELOW  - these extra tickets will be offered to relevant attendees

SAMPLE LIST OF TOPICS FOR MONTHS 1 AND 2

• Our approach
• Riba
• Wisdom behind the prohibition of Riba
• Riba and assets / commodities
• Hadith – exchanging dates
• Benefit 1 – layman protection
• Benefit 2 – prevent Riba through manipulation
• The message for us

• A sale transaction
• Why is a sale transaction important?
• Two sales transactions
• Shariah and Bai al Inah
• Modern Shariah Standards
• The importance of independent vs organized transactions
• Practice of Islamic Banks
• Two parties to three parties
• Three parties to four parties
• Back to modern Shariah Standards
• The missing fourth leg

• Is this important?
• Presenting the flow VERSION 1
• Presenting the flow VERSION 2
• Same product, different conclusions
• Which is correct, or better?
• Obtaining Shariah approval
• Trying to hide organized transactions
• Sukuk example
• Pricing and benchmarks
• Substance over Form
• Example Islamic Banking products
• What is an ethical approach to assessment?

FAQ

Is this course for beginners?

Yes, I have specifically created this course such that no prior knowledge of finance is required

What will we learn?

I approach Islamic Finance in quite a different way to other people - it is boring just for me to teach how everything works. On this course, I want to explain WHY and HOW our Deen provides us with everything we need in order to develop and create a wholly ethical way to conduct transactions. And I will also show how many modern applications in Islamic Finance do, in fact, contradict the clear principles laid out for us.

How is this course different?

This is aimed at those with no prior experience in finance and banking. We will follow the path of transactions, bgeginning from primary sources of Quran and Hadith, and we will discover the glorious wisdom in what appear to be very simple rules. What is the connection between selling dates and transactions in modern banking products such as Sukuk and home finance? I believe this approach, and method of teaching, is not available today.

Why are you charging for this course?

I prefer not to charge. However, when I have previously offered courses for free, people do not treat this with respect. As such, I have decided to charge a monthly fee of £10 (thus, in total £40 for around 15-25 hours of webinars - you can work out the hourly rate yourself!) as a nominal fee in order to instil some discipline in attendees. This is very cheap for those of us in developed countries, so I am also inviting attendees to purchase extra tickets for those who may struggle to afford it.