Financial Engineering & Product Development

Date: 05-07 Dec 2022
Location: Online

WHY THIS COURSE?

Financial engineering and product development from an Islamic perspective go well beyond the basic tenets of conventional finance. The principles upon which Islamic financial engineering and product development are built are deeply rooted in the teachings of Shariah, and in particular, the rulings of the principles of Usoul al Fiqh, or Islamic jurisprudence.

This is unlike the rules of conventional finance, which could be influenced by desires such as profit maximization. Islamic financial engineering and product development theory and practice take a more holistic approach. This approach dictates that financial engineering and product development is a worldly financial activity, which should benefit all stakeholders and, when based on good intention and being developed in accordance with the Shariah and its objectives, is an act of worship. Specific knowledge and skills are therefore required for Islamic finance and banking professionals when designing and developing financial products in accordance with Shariah, legal, tax, commercial and market requirements.

Also necessary is a detailed understanding of how various stakeholders engage and manage this complex process, the role of Shariah advisors and Shariah supervisory boards (SSB) in guiding Islamic financial institutions (IFIs) through product development, and the challenges they need to overcome.

‎This course has been designed for practitioners and Shariah advisors at Islamic financial institutions who wish to extend their understanding of the design, development, execution and delivery of new and innovative Islamic financial products. The course is highly interactive with case studies and discussion of real-life challenges, providing delegates with ample opportunity to raise questions and discuss solutions.‎

Key Takeaways and Learning Objectives

Gain a thorough understanding of how your institution can initiate, structure and engineer various financial products in accordance with Shariah and business requirements.

Learn how to formulate and implement an effective Shariah-based methodology and framework for Islamic financial engineering and product development.

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