REDmoney Seminars Presents 'Shariah Audit for Corporate, Hedging and Financial Market Products'

WHY THIS COURSE?

Ensuring Shariah rules and principles are adhered to is one of the ultimate responsibilities of Islamic financial institutions (IFIs). IFIs carry out this responsibility through establishing Shariah review and audit functions within their institutions. The role of the Shariah compliance audit provides independent assessment and objective assurance designed to value-add and improve the level of confidence of the IFI’s compliance with Shariah.

It includes examination of contracts and agreements, policies, products and transactions, reporting to Shariah boards, as well as circulars and reports for inspections performed by central banks. Specific knowledge and skills are required for professionals to carry out this responsibility in the most efficient manner, particularly when auditing complex financial instruments, such as various structures of Sukuk, syndication, financial market contracts, derivatives and hedging (Tahawut) Islamic swaps and forward products, and capital-raising instruments.

This training program is designed to provide participants with the necessary knowledge and skills in the area of advanced Shariah auditing and also how IFIs manage this important audit and what challenges they will need to overcome.

Key Takeaways and Learning Objectives

• Gain a critical understanding of how Shariah audit of sophisticated product structures will impact your institution.
• Learn how to formulate and implement an effective institution-wide Shariah audit plan and review across structured and money market products and audit impacted business function.

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