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Islamic Banking in Practice - Part 2 - Sukuk



Islamic banking and finance is a topic that is become ever more important and relevant in the changing global economic climate.

I am producing a comprehensive set of resources for education of Islamic banking and finance, and I am delighted to introduce you to my 4th course on Islamic Banking and Finance, to accompany "Introduction to Islamic Finance" (HERE), the "Free Course - Islamic Finance" (HERE), and "Islamic Banking in Practice 1" (HERE).

I have decided to create this course to help those who want a understand, in more detail, what Sukuks are, and how they are structured so that they actually work as intended.

Please read more below about the course and how it can benefit you.

Safdar Alam


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Image by ZQ Lee

Upon registering, you will have access to a course of around 25 videos that cover the topic of Sukuk.

The detailed contents are listed below. You can go through the videos at your own pace. There will be a quiz at the end, to see how well you have digested and learned the topics.

You will also be provided with a certificate after completing the course, and this course will qualify for CPD (Continued Professional Development) if you work in a related field.



We introduce the topic of Sukuk, the definition, and who they are used in the international financial markets.

Basic Structure

We look at the relationship between Suukuk and Bonds - what is similar between the two, and what is different

Beginning the Process

We now establish the most important requirements of a Sukuk, and derive a basic structure for how a Sukuk can work.


All We discuss the importance of using the correct assets, and how this gives rise to a new set of risks that must be managed by the issuer.

Risk Management

We look at key the key issues of asset price risk and asset performance risk. We establish some methods to how to manage these risks.


A Sukuk cannot function without Undertakings - we find out why this is the case, and how these undertakings are typically used to acheive the desired risks and cash flows for all parties.

Case Study

We go through, in detail, the UK Sovereign Sukuk, and we can see how what we have learned is put into practice in a market issuance. We notice some new things too ...


We take a step back and look at what we have covered, and how this results in an important conflict in Islamic Finance, that runs through the whole industry globally.


The key elements of any Sukuk, and why Sukuks are necessary for the markets

How assets are used to generate cash flows required by  all parties

How these assets create new risks, and each risk must be identified and mitigated

How to construct an Ijara Sukuk based on first principles

See how the markets put this into practice via a detail walkthrough of a market issuance


Interested in how Islamic banking and finance operates

Wishing to learn directly from a leading structurer and global expert

Keen to see how theory translates to reality, using contracts and transcations

Working in the finance field and wish to expand your knowledge base

Not a finance professional and want a simple, clearly explained course on Islamic banking and finance


Safdar photo.jpg

Safdar Alam is an investment banker and has worked at some of the largest banks in the world, and has held senior positions at UBS, Credit Agricole and JPM Morgan as Global Head of Islamic Structuring. He writes, consults and teaches about Islamic banking and finance. As well as blogging at, he has written for a variety of the most respected publications in the world. He is a published author and his books are available on Amazon.

Safdar is a keen supporter of true Islamic finance and the potential it holds to deliver the transformation of the global banking sector that is required.

  • I have never traded before, will this course be too advanced for me?"
    Not at all. You will have a series of 10 introductory videos to review to help you, before you review the video training course. Everything is explained in a clear manner without jargon. You can ask questions at any time in the trader's forum, or during the webinars.
  • I have traded before, will this course be too basic for me?"
    If you trade and consistently make profits, and manage your risk, then you are doing well! However, in my experience it is possible to be trading for several years without a clear approach, a defined strategy and being confused by all the conflicting methods. This course will assist you in all these areas,
  • What if this course is just not for me, can I get a refund?"
    Upon registering, you will have access to all the course material. As such, providing a refund is a difficult matter. However, if you have any concerns, please feel free to contact me before registering for the course. If, after registering, you still feel the course is not for you, I am happy to discuss this with you and make suitable arrangements.
  • I am not sure if I should do Level 1 first - is it too basic?
    Not at all. During Level 1, we cover a lot of areas, and some are quite difficult to grasp and understand well. Although we will still cover a lot of technical areas in Level 2, there is additional focus on strategy and management, which are vital areas to master in order to become a competent trader.
  • Do you offer 1:1 mentoring?
    Yes, this can be arranged after a brief consultation. Any mentoring will not be included in the basic cost of this course.Mentoring details are on our Discord Server, please contact me for details.
  • After reviewing the course videos, if I still have questions, can I ask you?"
    Of course! This is why each level includes 2 live webinars to cover all the questions you have. In addition, I am very responsive in the traders forum. This is where you will actually learn a lot about how to put the training into practice in your trading activities.

Register here for the course

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