- Self-paced
- Free Access
- Fee-based Certificate
Islamic Money Markets and Sukuk
- 4 Sequences
- Introductive Level
Course details
Syllabus
Week 1 – Tradability, Structures and Potential of Sukuk
- Chapter Introduction
- Tradability of Sukuk
- Pre-fixed Rate of Return on Sukuk
- Restrictions and Flexibility in Returns
- Other Issues in Sukuk Tradability
- Potential for Sukuk
- Examples of Sukuk Issues in the Islamic World
- Chapter Summary
Week 2 – Development of Islamic Money Markets
- Chapter Introduction
- Limited Scope of Islamic Money Markets
- The Need for Shari’ah-Compliant Sources of Funds
- The Role of an Islamic Money Market
- The Negative Effects of Undeveloped Money Markets
- Legal Amendments to Develop Islamic Money Markets
- Shari’ah Issues in the Development of Islamic Money Markets
- Tax Issues in Developing Islamic Money Markets
- Instruments and Components of an Islamic Money Market
- Trends in Liquidity Management by IFIs
- Interbank Instruments Used by IFIs
- Chapter Summary
Week 3 – Monetary Operations in Islamic Money Markets
- Chapter Introduction
- Credit Facilities Offered by Central Banks
- Central Bank Deposit and Reserves
- Examples of Facilities for IFIs
- Market-based Financing Instruments
- Tradability of Shari’ah-Compliant Instruments
- Supervising Liquidity Management
- Monetary Operations and Public Debt Management
- Factors in the Growth of Islamic Money Markets
- Policy Issues in Islamic Money Markets
- Developing Shari’ah-compliant Money Market Instruments
- Monetary Operations and Public Debt Financing
- Islamic Money and Foreign Exchange Markets
- Chapter Summary
Week 4 – Case Studies in Islamic Money Markets
- Chapter Introduction
- Overview of the Malaysian IIMM
- Market-Based Instruments for Money Operations
- Processes of IIMM Instruments
- Shari’ah-Compliant Alternatives to Forex Swaps
- Overview of Interbank Money Markets in Sudan
- Sudanese Markets and Monetary Operations
- Sudanese Payment Systems, Secondary and Forex Markets
- Overview of Money Markets in Bahrain
- Central Bank Facilities in Bahrain
- Market-Based Instruments in Bahrain
- Bahraini Payment Systems and Secondary and Forex Markets
- Overview of Money Markets in Pakistan
- Pool-Based Placement in the Pakistani Money Market
- Parameters for Pool-Based Placement in Pakistan
- Other Modes of Fund Placement in Pakistan
- Standing Facilities, Payment Systems and Forex Markets
- Chapter Summary
Prerequisite
Instructors
Ahmed Iskanderani
Former Director, Islamic Finance Capacity Development
The Islamic Research and Training Institute
Yahya Aleem ur Rehman
Lead Islamic Finance Specialist
Islamic Development Bank Group
Khalifa M. Ali Hassanain
Senior Economist
The Islamic Research and Training Institute
Abdullahi Mohamed
Shari’ah (Islamic Law) expert
Azmi Omar
Former Director General
The Islamic Research and Training Institute
Conor Damien Murphy
Former Manager, Corporate Audit Division, Group Internal Audit Department
Islamic Development Bank
Abdul Ghafar Ismail
Former Head of Research Division
Islamic Research and Training Institute
Turkhan Ali Abdul Manap
Senior Economist
Islamic Research and Training Institute
Editor
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