Certified Monetary Planner Courses in India

Banks serving the Islamic population must comply with several very specific principles of Islamic law if they hope to retain existing customers and attract new ones.

The basic principle of Islamic banking follows the laws of Sharia, known as Fiqh al-Muamalat (Islamic rules on transaction). The term "Islamic banking" is synonymous with "full-reserve banking" and "Sharia-compliant banking." The Islamic terminology for this is riba or ribaa. The bank is known as the rabal-maal and the entrepreneur as the mudarib. The hibah is similar to interest, but lawful according the Islamic law.

An Islamic bank does not lend money to a borrower to buy properties; rather, the bank will purchase the property at the borrower's request at a freely disclosed price, and mark up the price for the borrower to pay back, therefore making a profit from the investment.

While each Islamic bank has its own board which rules on ethical banking principals, Islamic banking organizations have been establishing standard regulations and policies. The Islamic Development Bank has been working on international standards, policies and procedures, and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Islamic Finance Service Board (IFSB), International Islamic Financial Market, Liquidity Management Center and International Islamic Rating Agency are in development to ensure accurate and fair banking practices.

Today, Islamic financial institutions exist worldwide, participating in the $180 billion/day industry. In 1975 there was one Islamic bank; today there are over 300 in more than 75 countries. The evidence is clear: Islamic banking is big business and it is growing every day.

Additionally, Islamic banks must educate their personnel to understand the tenets of Islamic law that pertain to banking, and to train them to comply with Sharia as they serve their Islamic customer population

Banking on Sharia Principles - Islamic Banking and the Financial Industry

The same holds true for wealth management training courses too.

Certified financial planner courses are of various kinds too.