Week 1: Overview of Economic Risk
Introduction
What is Risk?
Risk vs. Uncertainty
Components of Risk and Associated Terms
The Islamic Perspective of Risk
Risks Faced by Financial Institutions
Week 2: Islamic Perspective on Risk Management
Introduction
Islamic Finance Products - Associated Financial Risks
Fundamentals of Enterprise Risk Management (ERM)
Enterprise Risk Management - Process
Islamic Approach to Risk Taking Vs. Risk Avoidance
Milestones in the Islamic Approach to Risk Reduction
Week 3: Principles of Islamic Risk Management
Introduction
Risk Management from an Islamic Viewpoint
Risk Management Framework
Risk Management in Islamic Financial Institutions
Causes for Failures within an Organisation
Use of Hedging Instruments for Risk Minimisation
Managing Risks in Islamic Modes of Finance
Integrated Approach to Risk Management
Week 4: Legal Principles Underlying Islamic Insurance Products
Introduction
Six Stages of Islamic Insurance Development
Proposed Model for Islamic Insurance Contracts
Limitations Imposed by the Sharī‘ah on Insurance Contracts
Fundamental Characteristics of Insurance Contracts
Purpose of Insurance Contracts
Generic Sources of Islamic Insurance Contracts
Specific Sources of Islamic Insurance Contracts