An overview of the lecture on “Islamic Banking Principles and Practices”

An overview of the lecture on “Islamic Banking Principles and Practices” Date: 28 January 2021 Day: Thursday Time:…

An overview of the lecture on “Islamic Banking Principles and Practices”

  • Date: 28 January 2021
  • Day: Thursday
  • Time: 12 Noon (Kuwait time)
  • Speaker: Dr. Habibur Rahman, Senior Lecturer at the Faculty of Business and Management, Universiti Sultan Zainal Abidin, Malaysia
  • Organizer: Islamic Econmics Association, Faculty of Shariah and Islamic Studies, Kuwait University
  • Web: https://shariaa.org

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Introduction:

Islamic Economics Association at the Faculty of Shariah and Islamic Studies, Kuwait University is continuously constructing various types of events and lectures to promote Islamic Finance framework, strategies and standards. In regard to that the lecture on “Islamic Banking Principles and Practices” was held on 28th January 2021. Dr. Mohammad Mohiuddin, the Moderator of the session started the session and briefly introduced the Association and the speaker to all participants. The speaker Dr. Habibur Rahman addressed the background of the topic of the lecture at the beginning and mentioned the content of the lecture. Then the lecturer discussed briefly about Global Islamic Finance Industry Landscape, Islamic Finance Ecosystem, Islamic Finance Governance, Islamic Finance Corporate Social Responsibility and Islamic Finance Awareness before his detailed discussion the respective topic.

Keywords: Islamic Finance. Islamic Banking Principles. Islamic Finance Practices. Contract. Gurantee. Deposit. Capital.

Objectives:

The objectives of the lecture are:

  1. Assisting the researchers, professionals and students to understand the concept of Islamic Banking Principles and Practices.
  2. Introducing the essentials of the Islamic Banking to the participants.
  3. Helping the attendees to identify the Islamic Banking Products and Contracts.
  4. Addressing Islamic Banking Practices to the researchers and students.
  5. Encouraging students to further study and understand proper Islamic Banking strategies and services.

Discussions:

Dr. Habibur Rahman addressed the topic excellently starting from the proper explanation of the definition, essentials and fundamental of Islamic Banking. He discussed the key points to be observed in Islamic Banking practices, contract based operations, types of bilateral contracts, pillars of a contract, documentation or format of a contract, and legal capacity of contracting parties. His highlighted the major prohibition in Islamic framework of business. Dr. Habib also explained the deposit mobilization in Islamic Banking, nature of deposit funds, salient features of qard-based deposits, salient Shariah issues, types and terms of deposits, and liability and guarantee in the capital.

The speaker ended the lecture by stating the challenges and way forwards in Islamic Banking and practices.

Link:

https://www.youtube.com/watch?v=ahSGo_OxVlg

May Allah accept all our good deeds and services.

Prepared by:

Dr. Mohammad Mohiuddin

Moderator of the session

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