Generally speaking, this correct set up of the Islam- conformable products have similarities with conventional products, which follow a sustainable investment approach within a long term investment. In this way, these are, of course, for the non- Muslim population of interest when added to a product Portfolio.
The development of Islam-conform concepts premise has founded knowledge in the system of Islamic economy, both on the specific and in the product specific level.
In the conventional product sphere, IFIBAF resorts to the long- year experience of the founding members in the domains of private banking, insurance and real estate and combines this knowledge with the specific expertise within the field of Islamic Banking/Islamic Finance.
Unfortunately, in practice, there is the phenomena that products are presented as Islam- compliant. However, a close examination would not approve of the product since this, of course, diminishes the reputation of the respective institution.
To ensure a solid and qualitative foundation the concept of IFIBAF includes the following:
- Initial talk
- Conducting of specific workshops with the managing board and the respective operational departments with the aim of creating a product concept.
- Confidentially declaration Definition of relevant project parameters and roadmap
- Definition of the needed Islamic legal
- parameters Product development and accompanying Islamic legal evaluation
- Issue of Islamic legal verdicts („Fatawa")
- Product finalization Optional:
- Sales support
- Monitoring within the framework of an Islamic legal audit
NEWS & PRESS
Workshop "Qualified Islamic Finance Consultant" 24th -27th March 2012 in Dubai