If you're booking on someone else's behalf or not clear on the topic, here's some more information on Islamic Finance
Sharia Finance Explained
Islam as a religion makes no division between church and state, which is why its laws extend to financial matters. Its crucial to understand the theory and practicalities of these rules if you want to deal with any Islamic markets.
Islamic thinking differs greatly from what were used to in the West and many of the practices that form the backbone of secular markets are haram, meaning they are banned by Sharia Law.
The principle of riba, which can be roughly translated as usury, bans unjust or exploitative gains in business. This means that the concept of interest is haram and can never be applied in Islamic financial dealings.
The principle of gharar, which means risk or uncertainty, prohibits the sale of items whose existence is uncertain. This includes forms of insurance against something that may or may not occur, or derivatives used to hedge against possible outcomes.
Finally, the principle of maysir prohibits gambling, which can also be extended to certain financial arrangements such as premiums, bonds and futures.
Although principles of Islam have been applied to finance since the religion began, the explosion of oil markets in the 1960s has led to the principles being formalised, to the point where they are now written in law.
Our Islamic Finance Courses
Our wide range of courses will teach you everything from the operations of Islamic banking and the structure of financial products, to the inner workings of the Sukuk market the Islamic equivalent of the bond market. You can go on a comprehensive week long course, or simply pick and choose the modules youre interested in.
Our islamic finance training courses are held in non-residential 4 or 5 star hotels across the world, from the UK and Turkey, to Dubai and Singapore.
Euromoney Learning Solutions is a world-leading provider of premium courses and learning solution. We are proud to have trained over 250,000 professionals at 95% of the worlds top 100 banks. Our team of over 150 industry specialist trainers include world leading financial professionals and commentators, ensuring our knowledge base is second to none.
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