The masterclass to Islamic Banking & Finance is a four day course designed and delivered by the region’s leading islamic banking training entity: The Bahrain Institute of Banking & Finance. Forte Markets is pleased to partner with the BIBF to deliver this course within the UAE.

The BIBF which is the training arm of the Central Bank of Bahrain has played a critical role in Bahrain’s long-term success as the MENA region’s leading financial center. Since inception, BIBF has trained more than 340,000 students from 63 countries. Over 300 programs are offered in different areas of expertise such as Banking, Accounting and IT, Insurance, Islamic Finance, Leadership and Management disciplines (including Marketing) as well as a Centre we have that is dedicated to Academic programs and Executive development, not to forget a separate Centre of Assessment and Development with a Centre for Research.

This syllabus of this course is also aligned with CISI’s Fundamentals of Islamic Finance and CISI’s Islamic Finance Qualification, hence any participant taking this course would also be ready take the two aforementioned CISI qualifications. An arrangement can also be done by BIBF in order for direct exam taking with CISI.

The syllabus covers:

  • The sources of Islamic Law and Islamic Commercial Jurisprudence
  • Islamic Economics and its fundamental principles
  • Authorities of interpretation in Islamic banking and finance
  • The Islamic nominate contracts: Basic principles and application (Mudarabah, Musharakah, Murabahah, Ijarah, Salam, Istisna, Tawaruq)
  • Supplementary Islamic nominate contracts (Wadi’ah yad Amanah and Wadi’ah yad Dhamanah, Ju’alah, Wakalah, ar-Rahn, Hawala) and hybrid Islamic nominate contracts
  • Islamic capital markets – structuring Sukuks, equities and mutual funds
  • Risk management practices of Islamic financial institutions
  • An introduction to Islamic accounting, auditing, and corporate governance standards including relevant AAOIFI standards
  • Introduction on theories, techniques, and practice of Islamic insurance (Takaful)

Learning Outcomes

At the end of this module, the student would be able to:

  • ILO1: Explain the history of Islamic banking and finance and its current situation today, and identify key growth drivers and challenges that will mould the future of the industry
  • ILO2: Discuss the various sources of the Shariah and its authorities of interpretation; explaining its foundational relationship to Islamic economics, banking and finance
  • ILO3: Analyse the key features of Islamic economics, banking and finance in comparison to their conventional equivalents
  • ILO4: Identify various contemporary commercial Islamic nominate contracts: their definition, philosophy, types, legal foundations, and application
  • ILO5: Compare and contrast a selection of modern Islamic banking products with conventional banking products and analyse which of those that are more in line with the spirits of Shariah in both commercial banking and investment banking
  • ILO6: Explain the key principles of Islamic Insurance, Accounting, Auditing and Governance


Formal assessment is done at the end of the course through a 20-Multiple Choice Question and 2-Essay Question exam, and this will contribute to 100% of the total final evaluation of the course.

Who Should Attend?

This course is for any individual who would like to be introduced to the area of Islamic banking and finance or have recently started their career in this field.

Delivery Method

The course is conducted using a combination of lectures, discussions, case studies, and an end of course assessment.

Additional self-study of approximately 15 hours is also expected.

Participants will attend four days of approximately 7-hour sessions, and an exam at the end of the last day of the course.

Study hours:

  • Class contact time: 30 hours
  • Self-directed study: 15 hours
  • Final Assessment: 1 hour

د.إ10564.28 د.إ7922.88


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