Back to Basics

Understand the theoretical underpinnings and practical applications of the multitude of Islamic financial concepts as explained by a veteran Shariah advisor

Sohail Zubairi

Sohail Zubairi

Islamic finance expert and AAOIFI-accredited Shariah advisor and auditor

Sohail Zubairi was the founding CEO of leading Shariah finance advisory firm Dar Al Sharia. He is currently attached to the Dubai Islamic Economy Development Centre as a project advisor.

An overview of the basic tenets of Islamic economy and the description of Islamic principles on dealing with money without the involvement of interest.

A detailed review proving that these are one and the same and money cannot be a commodity

An exploration uncovering how Shariah banks are different from conventional banks, how Islamic banks manage risk and deposits, and the various mechanisms used in banking products

A look at how Shariah integrity is maintained in Islamic banks, the role of Shariah supervisory boards and global Islamic finance standard-setting bodies

What are the Shariah requirements of a valid contract as well as the rights and obligations of contracting parties? What are the different types of investment and financing contracts in Shariah?

This popular mode of financing will be discussed in detail including the various (mis)perceptions relating to its proximity to conventional finance practices. This chapter will also discuss the various Islamic banking and finance products which have been developed based on Murabahah and how associated risks are alleviated.

Does Shariah permit transacting in any commodity which is presently non-existent? Learn how this is done and what Shariah protection is available to the buyer who is required to make full down payment. Understand the risks associated with the Salam contract and how such risks can be mitigated.

Understand how Shariah permits transacting using non-existent assets, the different products engineered based on Istisnah and the risk mitigation techniques for this structure.

A look into an extensively used Shariah finance structure that was perfected in the 7th century AD including the fair practices of Islamic leasing vs. conventional leasing as well as the risk dynamics of Ijarah.

A deep dive into the Mudarabah contract, its parameters, applications and issues

An exploration of the Musharakah concept, what it entails, its applications and surrounding issues.

A detailed examination into the nuances, applications, and technicalities of the investment agency contract in Islamic finance.