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Islamic Banking and Finance Summer School

  • Location: Lancaster University Management School
  • Duration: 2 days (27th September 2017 - 28th September 2017)
  • Software: Stata, EViews
  • Level: Intermediate
  • Delivered By: Professor Jill Johnes, University of Huddersfield; Professor Mike Tsionas, Lancaster University; Dr Marwan Izzeldin, Lancaster University; Dr Vasileios Pappas, University of Bath; Dr Marwa Elnahas, Newcastle University Business School; Sheik Faizal Manjoo, Markfield Institute for Higher Education; Dr Momna Saeed, GOLCER, Lancaster University; Gerry Steele, Lancaster University
  • Topic: Finance, Risk Management
Islamic Banking and Finance Summer School

Overview

The Islamic finance industry has witnessed unprecedented growth in the last two decades, during which it has become firmly integrated into the global financial system. With total assets approaching $3 trillion, its projected annual growth is expected to reach 10%. After the onset of the Global Financial Crisis in 2008, the resilience of the Islamic financial system attracted great interest across the global investment community. That resilience and the subsequent expansion of the sector are primarily attributed to the ethical and asset backed system that underpins the Islamic business model.

GOLCER Islamic Banking and Finance Summer School in collaboration with Timberlake presents an innovative and versatile programme which has been designed for those seeking to embark upon, or are currently enrolled in, postgraduate research in Islamic finance. It offers an opportunity for researchers and practitioners to better inform themselves about the tools and procedures necessary to undertake research in this area. Participants are introduced to theoretical and empirical aspects underlying Islamic banking; and comparisons are drawn with conventional banking and financial systems. The contemporary practice of Islamic banking and its impact upon efficiency, risk-taking, capital markets and regulation are discussed. Great emphasis is placed upon hands-on exercises and case studies that allow participants to fully understand each learning point. This is achieved by a series of EViews/Stata Lab sessions. All participants receive a certificate of attendance.

The Objectives of the course are as follows:

  • Introduce the jurisprudential and theoretical foundations of Islamic Banking and Finance.
  • Provide an update on the regulatory framework of Islamic banking and finance.
  • Introduce the tools required in modern statistical analysis of Islamic economic and financial indicators.
  • Provide an overview of the Islamic financial products and their structure.
  • Conventional banking: Friend or Foe? Analysis of benefits and threats to Islamic banking.
  • Demonstrate how to present, interpret and analyse information based on financial and banking data.
  • Demonstrate how applied research in Islamic finance is undertaken and also to appreciate the use of econometric modelling.
  • Highlight current issues facing Islamic banking and financial sector.

Course Agenda

Day 1

>9:00 –9:15 Welcome (Dean / Director GOLCER)

9:15 – 9.30 Opening Speech (Islamic Business Universe Current outlook)

9:30 – 10:00 Keynote Speaker - Professor Datuk Rifaat Ahmed Abdel Karim, PhD PJN

10.00 – 13.00 Session 1: Banking Efficiency and Productivity

  • Measuring Efficiency
  • Types of Efficiency (Technical & Allocative)
  • Technical Change
  • Scale Economies
  • Total Factor Productivity
  • Production Frontier and Feasible Production Set
  • DEA Analysis
  • Stochastic Frontier Methods

14.00 – 17.00 Session 2: Risk and Stability of Islamic Financial Institutions

  • Introduction to Risk Management
  • Risk Management in Islamic Banks
  • Guiding Principles of Risk Management
  • Risk Management Governance
  • Risk Management Tools
  • Measuring Risk Failure
  • Measuring Industry Concentration and Penetration

17.00 – 18.30 Lab Session

19.30 - Gala Dinner

Breaks: Coffee (11.00 – 11.30, 15.30 – 16.00), Lunch (13.00 – 14.00)

Day 2

9.00 – 10.00 Invited Speaker (TBC)

10.00 – 11.00 Session 1: Regulation and Shariah governance

  • Structuring of Sharia Supervisory Board (SSB)
  • Role and responsibilities of the SSB
  • Conflict resolution in SSB – schools of thoughts, GCC vs Malaysia, AAOIFI vs IFSB Standards  
  • IFSB Standard on Shariah Governance
  • Shariah Governance Framework
  • Group discussion: Standardisation of Shariah rulings

11.30 – 13.00 Session 2: Corporate Governance

  • Corporate Governance
  • The legal status of the non-executive directors compared to the SSB and their fiduciary duties
  • Regulatory structures: case studies for FCA and PRA Regulations
  • Conflict of interest issues for SSB members
  • Stewardship

14.00 – 15.30 Session 3: Common law and Shariah: a legal transplant for Islamic finance?

  • Background to Islamic law of contract
  • English common law as the contractual foundation for Islamic products
  • The case for wa’ad for Islamic financial products
  • Case study: ” choice of law” clause in UK courts
  • Fiqhi and Legal Issues
  • Is arbitration a solution?

16.00 – 17.30 Round Table discussion

Breaks: Coffee (11.00 – 11.30, 15.30 – 16.00), Lunch (13.00 – 14.00)

  •  CommercialAcademicStudent
    2-days (27/09/2017 - 28/09/2017)

All prices exclude VAT or local taxes where applicable.

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