Converting a Conventional Bank to an Islamic Bank
Plan, govern and complete a full conversion: deposits, financing, treasury, income purification, systems and people
Advanced · 22 hours · 42 lessons · Language: English and Arabic · ID: IFS-COU-0076
USD 25Original price USD 45
Included in the annual membership.
No expiry
Converting a conventional bank into an Islamic bank is one of the most demanding projects in Islamic finance. Every deposit, loan, treasury position, system, product and employee has to move from one model to another, while the bank keeps serving its customers and meeting its regulator's conditions.
This advanced course follows a conversion from the board's decision to the declaration of full conversion, in light of AAOIFI's Shari'ah Standard No. 6 on conversion: governance and the Shari'ah board, the legal and regulatory pathway, converting deposits and the financing portfolio, unwinding treasury and investments, purifying non-compliant income during the transition, products, systems and people, accounting and risk, and completing and auditing the conversion.
The course has readings, practitioner case studies with worked logs, tests and calculations, slides, study notes and practice quizzes, and a final exam of 30 scenario-based questions in 60 minutes (70% to pass).
This course is written by ifSPACE in its own words, does not reproduce AAOIFI texts, is not affiliated with AAOIFI and is not a fatwa or legal advice.
What you will learn
- Assess the options and build the business case for converting a conventional bank
- Set up the governance, Shari'ah board and project structure that a conversion needs
- Plan the conversion of deposits, financing and treasury positions in line with SS 6
- Calculate and govern the purification of non-compliant income during the transition
- Manage products, systems, people, accounting and risk through the transition
- Complete, audit and declare the conversion
Syllabus
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1.The decision to convert
- Welcome to the courseFree preview1 min
- The decision to convertFree preview30 min
- Practitioner case study30 min
- Module 1 presentation15 min
- Module 1 practice quiz15 min
2.Governance of the conversion
- Governance of the conversion30 min
- Practitioner case study30 min
- Module 2 presentation15 min
- Module 2 practice quiz15 min
3.Legal, regulatory and stakeholder pathway
- Legal, regulatory and stakeholder pathway30 min
- Practitioner case study30 min
- Module 3 presentation15 min
- Module 3 practice quiz15 min
4.Converting deposits and other liabilities
- Converting deposits and other liabilities30 min
- Practitioner case study30 min
- Module 4 presentation15 min
- Module 4 practice quiz15 min
5.Converting the financing portfolio
- Converting the financing portfolio30 min
- Practitioner case study30 min
- Module 5 presentation15 min
- Module 5 practice quiz15 min
6.Treasury, investments and capital
- Treasury, investments and capital30 min
- Practitioner case study30 min
- Module 6 presentation15 min
- Module 6 practice quiz15 min
7.Non-compliant income and the transition accounts
- Non-compliant income and the transition accounts30 min
- Practitioner case study30 min
- Module 7 presentation15 min
- Module 7 practice quiz15 min
8.Products, systems, people and culture
- Products, systems, people and culture30 min
- Practitioner case study30 min
- Module 8 presentation15 min
- Module 8 practice quiz15 min
9.Accounting, reporting and risk in the transition
- Accounting, reporting and risk in the transition30 min
- Practitioner case study30 min
- Module 9 presentation15 min
- Module 9 practice quiz15 min
10.Completing the conversion
- Completing the conversion30 min
- Practitioner case study30 min
- Module 10 presentation15 min
- Module 10 practice quiz15 min
- Course summary and where to go next20 min