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 Blockchain in Islamic Banking and Finance 

Current Courses

Course Length: 12 Hours

WHO SHOULD ATTEND THIS WORKSHOP? 

Even though this program is open to everyone it is mainly designed for people working in:

• Banking.

• Islamic Banking and Finance. 

• IT. 

• Payments companies. 

• Public sector, given the public policy aspects of Banking. 

• Academia. 

• Fintech Leaders. 

• Islamic FinTech. 

• Digital Banking Managers. 

• Banking Heads. 

• Start-up Leaders. 

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DESCRIPTION

Blockchain is undoubtedly changing the world. It is the technology likely to have the greatest impact on the future of the world economy. 

Considered for long a new technology, blockchain is developing fast, and is quickly becoming a key player in many industries, like the financial one. 

Even though blockchain is best known for underpinning the operation of crypto currencies such as Bitcoin, this technology can be used in countless other areas, such as banking, Central Bank Digital Currencies (CBDCs), healthcare, smart contracts, financial services, supply chain management, insurance, IoT, video games… 

In my workshop, I will focus on how blockchain is or can be applied to the Islamic Banking industry, by analyzing a few possible use cases and its benefits. 

The Islamic Finance industry is growing fast. Like the conventional financial system, Islamic Finance features institutions such as banks, capital markets, investment firms, etc. According to the 2018 Islamic Financial Services Industry Stability Report by the Islamic Financial Services Board in Malaysia, the Islamic financial services industry’s total value has exceeded the US$2 trillion mark, and it is expected to grow 10%-12% over 2021-2022, S&P Global Ratings said. The main growth drivers were sukuk (sharia-compliant bonds) issuances. 

More and more banks in the Islamic world — a community of nearly 2 billion people worldwide — are adopting blockchain technology. 

For example, in 2017, the UAE’s Emirates Islamic became the first Islamic bank to use blockchain technology, namely for fraud prevention. 

Is it possible to apply Blockchain in the area of Islamic Banking and Finance? What would be the advantages of doing so? 

OUTLINE OF THE WORKSHOP

DAY 1

1.- Introduction of the Instructor and the Course. 

2.-Round of Introductions: Introduction of each one of the attendees. 

EXERCISE 1 

DEBATE 1 

3.-Traditional banks vs FinTech: a cooperation relationship nowadays rather than competition. 

4.-Introduction to Islamic FinTech: a rising area. 

EXERCISE 2 

DEBATE 2 

5.-Islamic Banking and Finance: 

  • Global overview of the industry. 

  • Key players. 

  • Key drivers. 

  • Islamic Banking Principles. 

  • Key Characteristics of Islamic Banking Operations 

  • Islamic Retail Banking Services 

  • Islamic Investment Management Services 

  • Corporate Banking Services 

  • Investment Banking in Islamic Banks 

 

6.- Overview of the Islamic banking scene in the MENA Region and East Asia. 

Business Case 1, to be solved during the workshop and discussed that same first session. 

 

DAY 2

 

We will finish to discuss Business Case 1 if we did not have enough time the other day. 

8.-Blockchain in Islamic Banking and Finance: 

Blockchain: a technology that can change the world.

 

1. Applications of Blockchain

 

a. Crypto currencies. 

b. Central Bank Digital Currencies (CBDCs). 

c. Smart contracts. 

d. Healthcare. 

  • Blockchain regulation across the globe. 

• Blockchain in Banking: the role of DLT in Financial Services. Potential use cases and possible benefits.

 

i. Zakat collection and distribution 

ii. Smart sukuk. 

iii. Waqf. 

iv. Trade Finance. 

v. Payments. 

vi. Clearance and settlement systems. 

vii. Customer KYC and Fraud Prevention. 

viii. Securities. 

ix. Loans and Credit. 

x. Fundraising. 

xi. Accounting and auditing. 

xii. Others.

 

9.- Cryptocurrencies in Islamic Finance: halal or haram? Overview of the main theories and practical examples. 

10.-Artificial Intelligence (AI) in Islamic Banking and Finance. 

11.-Others: The Future of Money. 

• Central Bank Digital Currencies (CBDCs). 

 

Business Case 2. 

Final Task: Essay to be submitted to the Instructor within 7 days after the Workshop. Will be sent to you shortly via email. 

Blockchain in Islamic Banking & Finance 

Course Study Options

Self Study
Online

In Person
Training

Live Online
Training

In Person Training Locations

  • Doha, Qatar

  • Lusail, Qatar

  • Riyadh, Saudi Arabia

  • NEOM, Saudi Arabia

  • Dubai, UAE

  • Abu Dhabi, UAE

  • Manama, Bahrain

  • Kuwait City, Kuwait

  • Ras Al Khaimah, UAE

  • Jeddah, Saudi Arabia

  • Casablanca, Morocco

  • Muscat, Oman

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