Islamic Finance and Capital Markets: Structure and Trading of Sukuk

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Overview

This finance course will provide learners with an overview of the principles and practices of Islamic financial and capital markets. You will learn about advanced Islamic financial instruments and the challenges in the development of Islamic financial markets. In addition, this course explains the trading operations of various markets in Islamic financial system.

No previous knowledge is needed.

Syllabus

Week 1 — Innovations in Islamic Markets

Introductory overview of Islamic finance and capital markets
Key Innovative Activities Shaping Financial Markets
The Islamic Financial System and Financial Engineering
Derivatives and the Islamic Financial Markets
Historical Financial Innovation in Islamic Finance
Scope of Islamic Financial Engineering
Approaches for Financial Innovation in Islamic Finance
Challenges to Innovation in Islamic Markets

Week 2 — Securitisation in Islamic Finance

Sukuk as a Sharī‘ah-Compliant Instrument
Framework for an Islamic Capital Market
Securitisation and Sukuk
More about Sukuk
Advantages and Pricing of Sukuk
Parties in a Sukuk Issue

Week 3 — Structure of Sukuk

Chapter Introduction
Classes of Securitised Papers
The SPV
Types of Permissible Sukuk

Week 4 – Categories of Sukuk

Muqaradah or Mudarabah Sukuk
Musharakah Sukuk
Basics of Ijarah Sukuk
Aspects of Ownership, Rent and Expenses
Basics of Salam Sukuk
Istisna‘a Sukuk
Murabaha Sukuk
Mixed Sukuk

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