Islamic Retail Banking

Global demand for an ethical form of banking has led to a boom in Islamic banking and it is estimated that some 350 financial institutions in more than 45 countries practice some kind of Islamic finance. The market has been growing at more that 15% per annum and financial assets within the sector are estimated at circa US$ 500bn with Liquid Funds in the Islamic marketplace looking for quality assets at circa US$ 50bn.

The huge growth in Islamic banking has placed considerable pressure on Shariah scholars who have found themselves having to both consider and rule on a complex mix of ancient and modern banking practices, all in the last 25 years. This incredible growth and the extreme pressure to provide as wide a range of banking products as possible whilst staying within the true principles of Islam has led to some pressures and this is likely to continue as an increasing number of conventional banks offer Islamic services through specialized or separate subsidiaries. This course considers these pressures and the often conflicting aims of providing ever more services whilst staying faithful to Islam.

This intermediate/advanced course is designed to help delegates consider in some detail the principles of Islamic Banking, the differences between Islamic and conventional retail banking and how modern day pressures can, might and are being reconciled within the Islamic code. It looks at much greater detail at the various Islamic products on offer and considers fully the key issues facing Islamic retail banks today. In this course we consider products and services in terms of their strategic and operational aspects rather that just defining what they are and do. On completion delegates will be able to debate these issues in some detail with clients and colleagues alike.