Programme overview
Introduction:
Islamic fintech products often reach launch with an app, a smart contract and a marketing plan, but without a clear Shariah basis for each digital flow: platform fees resemble interest, tokenised sukuk trade although their underlying claims are debt, takaful apps blur the tabarru fund with operator money, and zakat tools misapply nisab. This Core Concept course gives Islamic bankers, fintech product teams and Shariah compliance staff a method to map contracts onto digital journeys and review them before launch. Participants produce a Shariah-Compliant Fintech Product Concept and Governance Review Pack.
Course Objectives:
- Translate riba, gharar and maysir tests into screening questions for app journeys, platform fees, e-wallet balances and payment rails
- Configure Shariah-compliant crowdfunding and peer-to-peer financing flows using equity, murabaha and mudaraba structures with investor disclosures
- Design tokenised sukuk issuance and secondary trading rules that respect the tradability limits of ijara, musharaka and murabaha claims
- Specify Shariah screening, purification and rebalancing logic for Islamic robo-advisory and wealthtech portfolios
- Structure digital takaful, zakat and waqf platform flows with segregated funds, surplus rules and beneficiary controls
- Run a Shariah review of a fintech product covering fatwa request, algorithm and smart contract audit, sandbox testing and risk sign-off
Target Audience:
- Managers who own Islamic digital banking, wallet and payment products
- Managers who lead fintech product design, platform build or smart contract delivery for Islamic offerings
- Managers responsible for Shariah compliance, Shariah review or Shariah audit of new products
- Managers who run innovation labs, partnerships and sandbox applications in Islamic financial institutions
- Managers who assess operational, technology and Shariah non-compliance risk in digital Islamic products
Course Outline:
Day 1: Islamic Fintech Landscape and Shariah Screening of Digital Products
- Islamic Fintech Segment Map: Digital Banking, Payments, Crowdfunding, Wealthtech, Takaful Insurtech and Social Finance
- Riba, Gharar and Maysir Screening Questions Applied to App Journeys and Platform Fees
- E-Wallet Balances, Stored Value and Qard or Wakala Characterisation of Customer Funds
- Ujrah Fee Models Versus Interest-Like Charges on Digital Payment Rails and Late Payment Charity Clauses
- Digital Product Shariah Readiness Checklist for a Current Portfolio
Day 2: Shariah Contract Architecture for Digital Platforms
- Contract-to-Journey Mapping Canvas: Linking Each Screen and API Call to a Named Shariah Contract
- Equity, Murabaha and Mudaraba Crowdfunding Structures With Investor Wakala Arrangements
- Peer-to-Peer Islamic Financing: Asset Purchase Sequencing, Constructive Possession and Automated Murabaha Offers
- Smart Contract Encoding of Offer and Acceptance, Ownership Transfer and Profit-Sharing Ratios
- IFSB Investor Protection Principles for Islamic Capital Markets Applied to Platform Disclosures
Day 3: Tokenised Sukuk, Wealthtech, Takaful Insurtech and Social Finance Platforms
- Tokenised Sukuk Lifecycle: Asset-Backed Versus Asset-Based Tokens, Periodic Distribution and Redemption
- Sukuk Token Tradability Rules for Ijara, Musharaka and Murabaha Claims on Secondary Venues
- Islamic Robo-Advisory Logic: Equity Screening Ratios, Dividend Purification and Rebalancing Triggers
- Digital Takaful Design: Wakala and Mudaraba Models, Tabarru Fund Segregation and Surplus Distribution
- Zakat Calculator and Waqf Platform Design: Nisab Tests, Recipient Categories and Endowment Yield Tracking
Day 4: Shariah Governance, Sandbox Testing and Risk Controls for Islamic Fintech
- Fintech Shariah Review Workflow: Fatwa Request Pack, Board Resolution and Post-Launch Shariah Audit
- IFSB Shariah Governance Guiding Principles Applied to Fintech Firms and Partnership Models
- Algorithm and Smart Contract Shariah Audit Trail: Code Review, Oracle Inputs and Change Control
- Regulatory Sandbox Test Plan: Cohort Limits, Customer Safeguards and Exit Criteria
- Shariah Non-Compliance Risk Event Log, Token Custody Controls and Income Purification Routines
Day 5: Case Study: Shariah-Compliant Fintech Product Concept and Governance Review
- Case Brief: A Mudaraba Crowdfunding App and a Tokenised Ijara Sukuk Offering From Two Sectors
- Contract-to-Journey Map and Fee Structure Drafting for the Chosen Concept
- Shariah Screening Memo and Fatwa Request Pack Preparation
- Sandbox Test Plan and Shariah Non-Compliance Risk Register Build
- Governance Review Pack Defence Before a Mock Shariah Supervisory Panel
Skills You Will Gain:
- Digital Journey Shariah Screening
- Contract-to-Journey Mapping
- Islamic Crowdfunding Structuring
- Sukuk Tokenisation Design
- Shariah Equity Screening and Purification
- Digital Takaful Fund Design
- Fatwa Request Preparation
- Sandbox Test Planning
Why Attend This Course:
- Leave with a Shariah-Compliant Fintech Product Concept and Governance Review Pack tested by peers and a mock Shariah panel
- Catch fee, tradability and fund segregation flaws before a digital Islamic product reaches customers
- Speak the language of both developers and Shariah scholars when agreeing how an app flow maps to a contract
- Compare Islamic fintech practice with bankers, platform founders and Shariah reviewers from different institutions and markets
Conclusion:
Islamic fintech earns trust only when every screen, token and fee can be traced to a valid contract and a documented Shariah review. The course moves from screening digital products against core prohibitions, through contract architecture for crowdfunding, peer-to-peer financing and smart contracts, to tokenised sukuk, robo-advisory, digital takaful, zakat and waqf platforms, and then to Shariah governance, sandbox testing and risk controls. The final day applies these methods to a case and produces a Shariah-Compliant Fintech Product Concept and Governance Review Pack.