Islamic capital markets and instruments: study guide three
Learning outcomes
Chapter 1: Overview of global Islamic capital market developments
- Describe the role of the Islamic capital market (ICM).
- Identify essential components of Islamic capital markets.
- Explain the development phases of ICM.
Chapter 2: Islamic capital markets and instruments
- Identify and describe features and types of Islamic capital markets and instruments.
Chapter 3: Growth and development of Islamic capital markets
- Explain factors that contribute to the growth and development of Islamic capital markets.
- Explain the role(s) of international agencies in the global Islamic capital market.
Chapter 4: Essential Shari'ah principles governing the Islamic capital market (1)
- Explain the purpose of Islamic capital markets in meeting Shari'ah requirements.
- Identify and explain Shari'ah governing principles of Islamic capital market instruments.
Chapter 5: Essential Shari'ah principles governing the Islamic capital market (2)
- Describe Shari'ah governance structures and mechanisms based on relevant frameworks or guidelines.
- Identify and apply relevant Shari'ah standards and guidelines on Islamic capital market products.
Chapter 6: Islamic bonds
- Describe the process of securitisation and its various types.
- Identify the features, types and mechanism of Islamic bonds.
- Explain the features of Islamic bonds as practiced in Malaysia.
Chapter 7: Islamic Sukuks
- Describe the features, types and mechanism of Sukuks.
- Explain recent trends of Sukuks.
Chapter 8: Islamic asset-backed securities
- Explain the salient features, types and mechanism of Islamic asset-backed securities.
- Explain and distinguish underlying contracts of Islamic asset-backed securities.
- Identify issues pertaining to the issuance and trading of Islamic bonds and Sukuk.
Chapter 9: Islamic equity screening criteria
- Explain investing through Islamic equity.
- Describe the principles governing Shari'ah stock screening.
- Describe the cleaning mechanisms for tainted income.
- Explain various Islamic indices for equity market.
Chapter 10: Islamic mutual funds/unit trusts: an overview
- Describe the features and types of conventional mutual funds/unit trusts.
- Explain the legal structure of mutual funds/unit trusts.
- Identify the basic structure of Islamic mutual funds/units trusts.
Chapter 11: Islamic mutual funds /unit trusts: contracts and products
- Identify appropriate structures for Islamic mutual funds / unit trusts.
- Describe other appropriate forms of Islamic funds.
Chapter 12: Islamic real estate investment trusts
- Explain the rationale and benefits of Islamic real estate investment trusts (IREITs).
- Describe the features, types and mechanisms of IREITs.
- Identify appropriate structures for IREITs.
Chapter 13: Islamic structured products and derivatives
- Identify relevant financial risks in Islamic finance.
- Explain the need for Islamic structured products / Islamic derivatives.
- Describe the features and function of forwards, futures, options and swaps from an Islamic perspective.
Chapter 14: Principles and contracts underlying Islamic structured products
- Describe the principles pertaining to commonly used contracts in Islamic structured products/derivatives – 'Urbun, Salam and Wa'd.
- Identify challenges facing Islamic structured products/derivatives.