BRIAN KETTELL, the Course Director, worked at the Bahrain Monetary Agency for several years and has extensive experience in Islamic banking.

He has published 13 books on banking and financial markets and over 20 case studies on Islamic banking and finance. His books are all available from Amazon.

Three-Day Course

The first two days consist of the contents of the Two Day Course.and  then moves on to the role of Securitisation and the development of Islamic Capital Markets.

Islamic Capital Markets

1. Sharia Boards

• What are the common Sharia principles underlying all Islamic financial instruments?
• The key questions the Sharia Boards ask
• What are the problems with the Fatwas issued by Sharia Boards?
• Jurisprudence issues affecting capital markets
• Characteristics of the key capital market instruments acceptable to the Sharia Boards

2. Islamic Capital Market Instruments

• The hierarchy of capital markets-where do Islamic products fit?
• Is it halal or haram for Muslims to invest in the stock market?
• Are companies with debt related activities excluded from Islamic investment portfolios?
• What are the Islamic investment purification principles?
• Commodity morabaha
• Islamic leasing
• Islamic equity market funds
• Real Estate Investment Trusts
• Islamic hedge funds
• Islamic Rating systems
• Islamic market indices : Dow Jones Islamic Market Index (DJIM), FTSE Global Islamic Index Series
• Factors affecting innovation in Islamic banking and capital markets

3. Islamic Securitisation

• Securitisation for conventional banking products
• Securitisation for Islamic banking products
• The driving forces behind securitization
• What is Islamic Securitisation?
• What are the Sharia requirements for Securitisation?
• Securitisation structures, Pass- throughs, Asset backed bonds, Pay- throughs
• Ownership conveyance issues
• Credit enhancement issues.