Islamic Capital Market Products
Competency Title:
Islamic Capital Market Products
Competency Type:
Foundational
Competency Description
The competency refers to the ability to understand the elements and mechanism of Islamic capital market products and services. The scope includes the knowledge of various Shariah-compliant capital market products and services.
Level 1 - Awareness
Level 1
• Identify the Shariah requirements for capital market products and services.
• List ICM products and services available in the market.
Level 2 - Knowledge
Level 2
• Compare and contrast Islamic and conventional capital markets products and services.
• Summarise the characteristics of ICM products and services.
• Explain the criteria that will determine the Shariah compliance of capital market products and services.
Level 3 - Skill
Level 3
• Identify the Shariah principles and concepts applicable to the ICM.
• Identify types of ICM products and services that best serve specific objectives.
• Explain the Shariah-compliant contracts applied in the structuring and offering of ICM products and services.
Level 4 - Mastery
Level 4
• Evaluate ICM products for compliance with Shariah requirements.
• Recommend ICM products and services that meet client’s strategy and expectations.
• Establish and maintain product structuring procedures in alignment with Shariah requirements.
Level 5 - Expert
Level 5
• Determine factors to consider in assessing capital market products and services against Shariah principles.
• Develop strategy which includes ICM products and services to meet client’s requirements.
• Review product structures for Shariah compliance and advise on improvements to meet Shariah requirements.