Introduction to Shariah and Islamic Banking

Training on

“INTRODUCTION TO SHARIAH AND ISLAMIC BANKING”

(Peshawar, January 31st, 2016) The Traning is Suitable for: People working in:  Banks  Islamic Banks  Universities  Students

Training Content Content

Session I The Main Principles of Islamic Finance and Shariah Boundaries  Shariah: key to understanding Islamic banking . What is Shariah . Sources of Shariah . Objectives of Shariah  Seeking guidance from Quran and Sunnah  Role of Islamic Jurisprudence (Fiqh)  Concept of Lawful and unlawful as per Shariah  Objectives of Islamic Finance . Market forces and the Role of the State . The concept of Mal, wealth and the nature of money . Comparison of Islamic Economics with Capitalism & Socialism . Factors of Production in Islamic Finance . Concept of ownership of wealth; Wealth distribution, private property rights and Zakat/Ushr, Sadaqat & Khairat  Qard/Loan; Dayn in Islam  Basic Prohibitions: . Riba-definition & interpretation; Types; . Gharar . Gambling (Maiser and Qimar) . Haram activities

Session 2 Basic Concepts and Philosophy of Islamic Banking and Finance . Philosophy of Islamic finance . Trading Vs lending - Permission of trade & Prohibition of Riba . Subject matter is economy not money: Pricing of goods and services; not of money . Assumption of Risks (Al Kharaj bid Damam) . Concept of ‘Time Value of Money’ Session 3 Defining Islamic banking and Main Difference . Whether ‘Banking’ is permissible in Islam? . What is not permissible in conventional banking framework . Definition of Islamic Banking & Finance . Main Difference in Conventional & Islamic Banking . Removing general misconceptions about Islamic banking  Questions and Answers.

Certification A certificate of training will be awarded by the Centre for Excellence in Islamic Finance (CEIF), Institute of Management Sciences, Peshawar.

How to Apply:

You are advised to apply early as seats are limited and enrolment is based on first come, first enroll basis. Online Application forms are available at http://goo.gl/forms/DfssPPqLtT and at on our website. In case of any problem, you can ask us to send you at your desired email address. To avoid any delays, please ensure the complete filling of documents before sending.

Registration Fee Last date of Registration & Payment Training Cost: PKR 2500/- Per Participant 30th January, 2016 The cost include trainer cost, reading material, lunch and tea(s), training certificate and group picture.

Accomodation: As per actual, upon request

Training Collaborators

Institute of Management Sciences (IMSciences) The Institute of Management Sciences is a pioneering business school of Pakistan, which is extensively exercising high quality research in Business Information Technology and Business Administration. Apart from its academic pursuits, IMSciences has also adopted latest trends of global university advancement. One such initiative is conducting international business conferences since 2011.

Centre for Excellence in Islamic Finance (CEIF) The Centre for Excellence in Islamic Finance (CEIF) is collaboratively established by the Institute of Management Sciences, Peshawar, State Bank of Pakistan and the UK’s Department for International Development (DFID) to spur financial inclusion in Pakistan. The strategy of the CEIF is designed on threefold orientations namely academia, research, and industry efforts to boost-up Islamic Finance and financial inclusion through it. These three sets of efforts are managed as three chairs: A-CEIF, R-CEIF, and I-CEIF. The starting alphabets represent, Academia,

Research, and Industry, respectively. The CEIF provides a long term and sustained platform through which the educationalists, researchers, and practitioners alike take benefit to holistically advance the Islamic Finance and hence the financial inclusion of society. Substitutes/ Transfers

If an applicant is unable to attend a registered program, we will accept a substitute no later than two working days before the start of the program. If you wish to cancel your name from a program, please notify in writing at least one week before the start of the program. Course fee will be refunded after deducting 20% of the deposited fee. Please note that only one transfer is permitted and should be within 12 months of deposit of fee.

Payment

The course fee must reach to the office at least two days before the start of course. Your participation in the course may only be ensured after we receive the fee. Our preferred mode of payment is by check/ banker’s draft payable to Centre For Excellence in Islamic Finance, IMSciences, Peshawar.

A training can be cancelled or postponed by the Centre due to insufficient enrollments or due to any other unavoidable circumstances. In such a case, only the course fee will be refunded and the Centre will not be responsible for any other related expenses. The Centre can make changes in the above areas at any time and date.

Contact:

Amna Ashraf Liason Officer, Centre for Excellence in Islamic Finance CEIF-Institute of Management Sciences, Main Campus 1-A, Sector E-5, Phase 7, Hayatabad, Peshawar, Pakistan [email protected].