Understanding Islamic Insurance and Investments

Week 1 - The Islamic Takaful System-Part 1

• Introduction
• Islamic Appraisal of Conventional Insurance
• The Need for Sharī‘ah-Compliant Insurance
• The Concept of Takaful Ta’awuni
• The Shari’ah Basis for Takaful
• Takaful vs Conventional Insurance

Week 2 - The Islamic Takaful System-Part 2

• Introduction
• The Tabarru-based Takaful Model
• The Mudarabah-based Takaful Model
• The Wakalah-based Takaful Model
• Profit vs. Surplus for Takaful Products
• Deviations in Mudarabah and Wakala Takaful
• Sharing Expenses in Takaful Products
• Other Issues in Takaful Products
• Applications of Takaful in Family Insurance
• Applications of Takaful in General Insurance

Week 3 - Mutual Funds and Islamic Perspectives

• Introduction
• Mutual Funds and Their Advantages
• Various Structures in Mutual Funds
• Debt Funds
• Equity Funds
• Hedge Funds
• Real Estate Investment Trusts (REITs)
• REIT Structures
• Islamic Perspectives on Mutual Funds and REITs

Week 4 - Islamic Investment Fund

• Introduction
• Islamic Debt Funds
• Murabaha-Based Commodity Debt Fund
• Ijarah-Based Debt Fund
• Islamic Equity Fund
• Conditions Governing Islamic Equity Funds
• Islamic Hedge Fund
• Islamic REITs
• Sukuks
• Recognised Sukuks
• Ijarah Sukuk
• Salam Sukuk
• BBA Sukuk
• Muqaradah Sukuk
• Musharakah Sukuk
• The Advantages of a Sukuk Market
• The International Sukuk Market
• Challenges for Developing a Sukuk Market