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Shari'a Standards on Islamic Finance Products and Practices


Modern Islamic finance emerged from a belief that conventional forms of financing may contain elements prohibited by Shari’a. As an alternative, a myriad of Islamic financial transactions have been innovated based on a combination of classical trade-based contracts and other accompanying arrangements. These products are deemed to be in compliance with Shari’a precepts, yet provide some level of economic parity with comparable forms of conventional financing.

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is an Islamic international autonomous non-for-profit corporate body that prepares accounting, auditing, governance, ethics and Shari'a standards for Islamic financial institutions and the industry. It was founded in 1991 and has issued standards covering the areas of accounting, auditing, ethics, and governance for Islamic financial institutions.


Content Highlights

• Shari’a Compliant Financing
• Shari’a compliance issues that particularly affect financing (Riba, Prohibited business activities, Joint ventures and Leasing)
• The Application of Real Estate Finance Structures in Sukuk
• Asset-based versus asset-backed structures
• Asset-backed structures: Securitization
• Negotiability of instruments
• Combining conventional and Shari’a compliant finance
• Combination achieved by separation (Asset and Structural separation)


Upon completion of this course, the participants will be able understand:

• Concept and Definition of Shari’a Compliant Financing
• Various Shari’a Compliance Issues affecting finance
• Real Estate Finance Structure and its application in Sukuk
• Negotiability of Islamic Instruments
• Implications of Combining Conventional and Shari’a Compliant Finance

Course Facts

3 days; 18 hours



“We are immensely pleased to be associated with ‘SKILLS’. Their
courses have been of the highest quality covering the subjects’
matters and dealing with practical approaches covering related
jobs functions areas which most of our clients’ delegates
would be applying in their work environment. SKILLS trainers
are professional, knowledgeable, personable and enthusiastic
and demonstrated the ability to meet the expectation of
the delegates.“

Hussain Ismail
Head of Product Development
Qatar Finance and Business Academy- QFBA, Qatar


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