INTRODUCING TO ISLAMIC FINANCE

INTRODUCING TO ISLAMIC FINANCE
Bangkok Room, Mercure Grand Mirama Hotel, 25-26 October 2008



Background and Objectives Training


Islamic finance is always making the news from day to day. Potential market size, supported by a strong desire to innovate, create the Islamic finance sector to be one of the most shocking and most rapidly growing in today's financial Indonesia.

In Indonesia, almost all conventional banks have Business Unit as BRI Islamic Sharia, Islamic BII, BNI Syariah and there are 3 banks namely Bank Syariah Mandiri and Bank Syariah Mumalat and Bank Syariah Mega Indonesia.
On the trading floor, Islamic Capital Market was officially launched on March 14, 2003 so that the technical term Sharia Stock and Bond Syariah. Sharia mutual funds, Securities Code Sharia, Shariah Index and the Jakarta Islamic Index stocks participated in the movement coloring trading floor.

In the world of finance, has emerged FIF Adira Sharia and Sharia.

Abroad, each country competed to be the Islamic financial center. The main players are the countries in the Gulf Cooperation Council (GCC) as the UAE, Bahrain and Kuwait.

So, whether it's Islamic finance and how it differs from conventional finance?

Is it muamalah sharia? Why sharia such muamalah flourished in all corners of the world?

How do I take the opportunity to utilize the knowledge of the sharia muamalah?

How to develop an attractive financial products but does not conflict with sharia muamalah?

Who should Attend?

This program is designed to provide a comprehensive understanding of Islamic financial products and services offered by Islamic Financial Institutions. The training material will be useful for those who are deeply interested or muamalah sharia, to increase competence in the era of job competition, or professionals working in Financial Institutions and Non-Sharia Islamic Financial Institutions, such as: Student, Lecturer, Fresh Graduate, Leadership / employee Institution Conventional and Islamic Finance, Sharia Marketer, Investor Islam, Manager Asset Management, Corporate Treasury, and Auditor.

Islamic finance training appropriate to bring you in a training specifically designed to give you a clear understanding of the characteristics and parameters underlying Islamic financing structures. Training will be led by an instructor is Mr. Indrajaya, which will give you the right opportunity to learn and hear about practical issues through case studies.


At the end of training, you will gain a detailed understanding of the concept and Islamic products muamalah and how to empower them to achieve your goals.

Session 1: Introduction to Islamic Finance & Contracts, Financial Contract

Discussions in this session will cover topics as follows:
1. Why Islam strongly forbids usury?
2. What is gharar?
3. How did Islam manage the contract?
4. Why money can not become a commodity?
5. What is the fundamental difference between Islamic Bank with Conventional Banks?
6. What is Fiqh Muamalah?

Session 2: Covenant-Covenant of the Islamic Financial

This section is designed to provide participants a complete understanding of the covenant and the features offered by the shari'a muamalah and learning event of failure (event of default) in the Islamic transactions.
After completing this session, participants are expected to clearly distinguish between the covenant with one another and develop new features and be able to assess the feasibility of the implementation of sharia principles muamalah on a product or feature.

1. Akad - Akad Investment (session 2)

Wakalah
a. Use of wakalah akad akad murabaha.
b. Is it wakalah bil ujroh?

Wadiah
a. If the goods are entrusted missing, who takes the risks?
b. Who is entitled to a reward, the left or the
entrusted?

Mudaraba
a. What is the fundamental difference between the Musharaka Mudaraba?
b. Is mudarib allowed to use their own funds in the mudaraba?
c. How profit and loss distribution between Shahibul Maal and mudarib?
d. Is it permissible for mudaraba with permanent results?

Musharaka
a. How to transfer assets from the gradual diminishing Musharaka?
b. In the event of loss, which party bears?
c. What are the other forms of Musharaka akad?
d. Why there are some scholars argue Mudaraba including Musharaka?
e. Is it allowed Musharaka capital lent?

2. Akad - Akad Sale and Purchase (session 2)

Bai Taqsith
a. Is the sale with payment installments allowed?
b. What is 2 transactions in a single sale?
c. Bai Taqsith What are the benefits?

Tawarruq
a. What is Tawarruq?
b. What is the difference Tawarruq with Bai al Ienah?
c. How Tawarruq practice in other countries?

Bai al Ienah
a. What is Bai al Ienah?
b. What is the reason some states allow these practices?

Murabaha
a. Can sell goods that have been purchased in the transaction although murabaha
installment payment in full yet?
b. How to set margins in murabaha transactions?
c. Is it commodity murabaha?
d. What is the difference with commodity murabaha Tawarruq?
e. How akad akad Murabaha converted into Mudharabah / Musharaka / al-Ijarah Al-Muntahiyah bi
al Tamlik?

Regard
a. How does the practice of the Prophet's Greetings?
b. What happens if goods orders experienced crop failure?
c. Can the buyer sue the seller if the goods received do not match
order?

Istishna
a. Risks that occur during the period of manufacture are on whom orders:
buyer or the maker?
b. How istishna parallel scheme?
c. What if the seller under the contract failed to deliver parallel istishna
goods to the buyer?
d. Can one party acting as representative in the construction and
tenants after construction is complete?

3. Akad Rent Rent (session 2)
Al-Ijarah
a. Does the lease payments can be tailored to the interest rate applicable
now?
b. Responsibility whom damage to the leased goods?
c. When is the end of al-ijara akad?
d. What is the difference al-ijara with leasing?

Al-Ijarah Muntahiyya bit Tamlik
a. Are the benefits of a good lease allowed?
b. What is the difference lend money by renting benefit assets?

Al-Ijarah Mawsufah fi al-Dhimmah
a. When and how payment of rent paid?
b. How does the ownership status of the goods / assets at the beginning and end of the lease?

4. Akad - Akad Loans (session 2)
Qard
a. Do not ask for compensation on the loan Qard?
b. Where home loan funding sources Qard?
c. What if loans can not be returned Qard?

Rahn
a. What is the difference with the conventional pawning pawning sharia?
b. How to calculate the costs could be borne by the Islamic pawnshop?

5. Genesis Failure (Event of Default) (session 2)

Khiyar
a. How do I decide the contract in a transaction muamalah sharia?
b. How long a person has a chance to break the contract?
c. Does that have purchased goods too expensive to be canceled?

Ta'widh
a. Allow to charge someone who deliberately refuse not
do his job?
b. How to set the compensation costs?
c. Does not apply in ta'widh mudaraba and Musharaka transactions?

Session 3:
The development of Islamic products in Other Countries: Case Studies
(United Kingdom) Aston Martin lagonda Acquisition
(Kazakhstan) BTA Bank Syndicated Wakalah
(Saudi Arabia) Development of the Third Container Terminal Project at the Jeddah Islamic Port
(Saudi Arabia) MTC Saudi Arabia of U.S. $ 6 billion License Financing
(Qatar) Qatar Real Estate Investment Company Sukuk Musharaka
(Indonesia) PT. Pertamina U.S. $ 200 million Murabaha Syndication
(Indonesia) PT. Adhi Karya Sukuk Mudharabah

Session 4:
Discussion Group
Training Evaluation
Certificate Distribution
Closing

(During the training will be introduced Fatwas delivered by the National Sharia Council
and Fatwa-Fatwa of the Ulama Saudi Arabia)