Programs

Introduction to Islamic Finance 2014

story from Tokyo Development Learning Center

Related Program
Introduction to Islamic Finance

Session Dates Changed
March 12, 2014 until March 27, 2014
13:00-16:00 (East Africa Time)
19:30-22:00 (Japan Standard Time)
Please note we are not accepting participants from Japan.







Workers gathering at desk  Arne Hoel/The World Bank

Introduction

Islamic finance has been growing rapidly in recent years and attracting greater attention in the wake of the recent financial crisis. The World Bank and the Islamic Development Bank have set out a framework for collaboration between the two parties and lend support to global, regional and country efforts in the development and expansion of Islamic finance globally.
 
In 2012, the total global assets of Islamic banking were $1.3 trillion, which is estimated to be $1.6 trillion by the end of 2013. Statistics by Global Islamic Finance Report show that Islamic finance grew consecutively at a compound annual rate of 15 to 20 % over the last decades. Most interestingly, Islamic financial system has proved inherent resistance to the recent global economic crises during 2008 to 2012.

There are two fundamental directions of financial inclusion or access of finance under the present practices of Islamic finance activities. They are – (a) promoting risk sharing contracts that is to generate alternative debt sharing finance comparatively different from the conventional debt based finance. This is enough potential for enhancing accesses to the required finance and its proper conflict free and sustainable management. (b) Redistribution of the wealth of the society among its member that is, in principle, complement to the prior direction, targeting of the poor people of the society in order to provide a comprehensive financial approach for exterminating poverty and for building resilient and equity based society.

In 2012, with the initiative of the Association of African Distance Learning Center (AADLC) , in partnership with the Global Development Learning Network (GDLN) and the Tokyo Development Learning Center (TDLC), a comprehensive course “Introduction to Islamic Finance” was designed and organized to share fundamentals of Islamic finance with a special focus on policy makers and officials of the financial sector in Africa.
 
This program will be the second delivery following the success of the first program delivered in 2012

Learning Contents

Each module will feature presentations and interactive discussions on current issues and best practices in Islamic finance with international experts. The program will be delivered in three modules as follows.

Session 1: Introduction to Islamic Finance – presenting definition and fundamentals of Islamic finance;  global trend and estimated growth of the sector; overview of emerging markets, products, and services in Islamic finance; and geographical expansion of Islamic Finance.
(March 12, 2014)

Session 2: Understanding Islamic Finance structures – presenting basic models of Islamic finance (trade-based and investment-based models); and various financial products and transaction models (loans, deposits, Sukuk-bonds, funds, Takaful-insurance) with practical examples.
(March 19, 2014)

Session 3: Establishing Islamic Finance Architecture: an African model – presenting legal system on Islamic finance;  legal issues under Islamic finance; financial framework for financial inclusion; case studies and best practices in Africa/different regions; recent trends in Islamic finance and Africa; and networking and further study opportunities in Islamic finance.
(March 27, 2014)

Goals

After attending the program, participants will be able to;

  • Describe fundamental concepts in Islamic finance and its growth potential,
  • Structure financial products and mechanisms under Islamic finance,
  • Understand key actors and roles in regulating, supervising and monitoring, and
  • Broaden understanding from practical lessons and case studies around the world on Islamic finance

Speaker

Mr. Etsuaki Yoshida

Adjunct Research Fellow, Center for Finance Research,  Waseda University, Tokyo.
Director and Senior Economist, Japan Bank for International Cooperation (JBIC).


Mr. Yoshida has been teaching Islamic finance at the Waseda Graduate School of Finance as a visiting associate professor. He is also Director and Senior Economist at Japan Bank for International Cooperation (JBIC). Before moving to JBIC in 2007, he was an economist at Bank of Japan in charge of the Japanese economy and foreign exchange markets.


Moderator

Session#1
Mr. Mor Seck, Senegal, Manager/Director Senegal Distance Learning Centre and President of the Association of African Distance learning Centers (AADLC)

Session#2-3
Mr. Charles Y. Senkondo, Secretary General of the Association of African Distance learning Centers (AADLC), and Director of Tanzania Global Learning Agency –TaGLA

Target Audience

National and local government officials from financial ministries and agencies.

Officers from commercial banks, legal department, insurance, security and asset management companies.

Staff from microfinance institutions and NGOs who wish to develop knowledge on Islamic finance for their business activities in Africa.

Financial sector staff from international organizations.

Delivery Method

You can participate in the program at your nearest GDLN center.

Each session will be a 2.5-hour interactive session using video conference technology.

Each session consists of presentations followed by Q&A and open discussion.

Lecture materials will be provided at the GDLN centers.

Language

English only

How to Apply

Please contact your nearest distance learning center.

Participating DLCs:

Tanzania
Uganda
Madagascar

If you cannot join from a DLC nearest you, you can also watch the webstreaming.

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