Introduction to Short-Term Islamic Liquidity Management Instruments (STILMI)
Gain an understanding of Islamic finance as you learn to manage your cash flow needs and improve your organisation’s practices.
Duration
5 weeksWeekly study
4 hours100% online
How it works
Introduction to Short-Term Islamic Liquidity Management Instruments (STILMI)
Understand the need for Islamic liquidity management instruments in the market.
This five-week course will help you understand the concept of short-term Islamic liquidity management and why it is important for businesses to manage cash flow needs.
You’ll develop a range of practical knowledge and skills to apply directly to your organisation. With this knowledge, you’ll be able to enhance your career prospects and organisational effectiveness.
Using a comprehensive approach to understanding and managing short-term Islamic liquidity needs, this course is ideal for Islamic finance professionals, business owners, and managers who want to improve their cash flow management skills.
Learn to make informed decisions about your short-term cash flow needs
You’ll start by learning to identify the various types of short-term Islamic liquidity management instruments available.
With this knowledge, you’ll be able to contribute to your organisation’s success by optimising cash flow management practices and improving liquidity management practices.
Improve your cash flow management skills
With your knowledge of Islamic liquidity management instruments, you’ll explore the issues faced in structuring these short-term instruments and how you can overcome these challenges.
Exploring different case studies and real-world examples, you’ll also unpack the salient factors to consider in practice. This will help you understand the best practices for short-term liquidity management, including forecasting cash flows, managing working capital, and optimising cash balances.
Learn from experts in Islamic finance
Throughout the course, you’ll be guided by industry experts who will share their specialist insights from the field of Islamic finance.
By the end, you’ll have the knowledge and skills to manage your organisation’s short-term cash flow needs.
Syllabus
Week 1
Introduction to Short-term Islamic Liquidity Management Instruments
Welcome to the Course
Hi everyone! Welcome to the course on Structuring Short-term Islamic Liquidity Management Instruments. Let's get started! But before that, just a brief introduction of the course educator.
The Need for Short-term Islamic Liquidity Management Instruments (STILMI)
Before we go into the details of this course, it is crucial to know the importance of STILMI and the challenges faced in managing short-term Islamic liquidity instruments as opposed to conventional institutions.
Causes of Liquidity Issues
There are a number of causes of liquidity issues in Islamic banks and other financial institutions that offer Islamic finance products and services. We will look into some of the causes in this session.
Liquidity Programs and Instruments Issued by Respective Central Banks in Gulf Cooperation Countries (GCC)
This session briefly discussed some of the popular liquidity programs and instruments issued by central banks in the Gulf Cooperation Council (GCC) countries.
Check Your Understanding
Now that you have completed Week 1, let's test your level of understanding on the lessons. Fret not. You can always refer back to the topics for answers.
Summary
A recap of what you have learned so far in Week 1 and what will be discussed in Week 2.
Week 2
Conventional Versus Islamic Short-term Liquidity Management Instruments
Share your thoughts!
In your opinion, what would be the most concerning issue when it comes to Islamic banking as opposed to conventional banks?
Differences between Conventional and Islamic Short-term Liquidity Management Instruments
One of the main differences between conventional and Islamic short-term Islamic liquidity management instruments is in STILMI, there is no involvement of riba. In this session, we will look at other differences as well.
Check Your Understanding
Now that you have completed Week 2, let's test your level of understanding on the lessons. Fret not. You can always refer back to the topics for the correct answers.
Summary
Summary and Reflection for Week 2
Week 3
Challenges in Structuring Short-term Islamic Liquidity Management Instruments
Challenges you need to be mindful of when structuring short-term liquidity management instruments that are Shariah-compliant
It is important to know the type of challenges you might be facing in structuring STILMI, so that you can be more cautious and produce an instrument that follows the Shariah regulations.
Check Your Understanding
Congratulations! You have completed Week 3 of the course. Before we continue to the Case Studies of Successful STILMIs let's test your level of understanding of the lessons.
Summary
Summary and reflection for Week 3
Week 4
Successful STILMI Case Studies from Different Parts of the World
Introduction
We will look at two types of instruments that are used in the case studies in managing liquidity.
Case Study 1: Collateralized Murabaha Facilities (CMF) of United Arab Emirates (UAE)
In this first case study, we will discuss the collateralized murabaha facility (CMF) applied by the Central Bank of the United Arab Emirates (UAE).
Case Study 2: Central Bank of Bahrain (CBB) Wakalah Facility
In this second case study, we will look into the wakalah facility and al-salaam sukuk structure of the Government of Bahrain.
Case Study 3: Gold Sukuk Investment Fund (GLITTER) of Sudan
The 3rd case study that we will discuss, is a very innovative instrument called Gold Sukuk Investment Fund also referred to as GLITTER .
Case Study 4: Short-term Liquidity Instruments in Malaysia
The 4th case study will be discussing the types of instruments in Islamic interbank money market of Malaysia.
Case Study 5: Short-term Liquidity Instruments Used in Indonesia
A brief explanation of the instruments used in the Islamic money market instruments in Indonesia.
Case Study 6: Mudarabah Certificate Issued by the Central Bank of Maldives
This is a case study of STILMI used in the Maldives.
Summary
Summary and reflection for Week 4
Week 5
Structuring Short-term Islamic Liquidity Management Instruments
Salient Factors to Consider when Structuring STILMI
We will look at the salient factors during the four stages of structuring STILMI namely, pre-structuring, during structuring, issuance, and post-issuance.
How to Structure a Short-term Islamic Liquidity Management Instruments
For a resilient and vibrant Islamic finance industry, it is imperative to find innovative ways to issue Islamic short-term liquidity management products. Let's explore the ways in which we could create a favourable environment.
Summary
Summary and reflection for Week 5
What's Next?
Congratulations, you have completed the 5-week lessons. Next, in order to obtain the certificate of completion, you are required to take the course assessment. Details of the course assessment are provided on the next page.
When would you like to start?
Start straight away and join a global classroom of learners. If the course hasn’t started yet you’ll see the future date listed below.
Available now
Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Explain the concept of short-term Islamic liquidity management and why it is important for businesses to manage their cash flow needs.
- Identify the various types of short-term Islamic liquidity management instruments available.
- Compare the differences between conventional and Islamic short-term Islamic liquidity management instruments.
- Explore best practices for short-term liquidity management, including forecasting cash flows, managing working capital, and optimising cash balances.
- Investigate real-world examples and case studies to illustrate the use of different short-term Islamic liquidity management instruments in practice.
Who is the course for?
This course is designed for anyone interested in learning about the various instruments and strategies used in short-term Islamic liquidity management and how to use them effectively.
It will be most beneficial to bank regulators and supervisors, policymakers, business owners, and managers who are responsible for managing cash flow and financial resources within their organisations.
Who will you learn with?
Prof. Dr. Aishath Muneeza currently serving as a Professor and Associate Dean for Students and Internationalization at INCEIF University in Malaysia.
CV: https://sedonaweb.com/members/aishathmuneeza/
Who developed the course?
INCEIF
INCEIF is considered to be the knowledge leader in Islamic finance through providing excellent teaching, research and thought leadership.
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| Choose the best way to learn for you! | $134/one-off payment | $349.99 for one year Automatically renews | Free |
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| Access to this course | tick | tick | Access expires 2 Jun 2024 |
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| Learn at your own pace | tick | tick | cross |
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Cancel for free anytime |
Ways to learn
Choose the best way to learn for you!
Subscribe & save
$349.99 for one year
Automatically renews
Develop skills to further your career
- Access to this course
- Access to 1,000+ courses
- Learn at your own pace
- Discuss your learning in comments
- Tests to boost your learning
- Digital certificate when you're eligible
Cancel for free anytime
Buy this course
$134/one-off payment
Fulfill your current learning need
- Access to this course
- Learn at your own pace
- Discuss your learning in comments
- Tests to boost your learning
- Printed and digital certificate when you’re eligible
Limited access
Free
Sample the course materials
- Access expires 2 Jun 2024
Find out more about certificates, Unlimited or buying a course (Upgrades) | |||
Find out more about certificates, Unlimited or buying a course (Upgrades)
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