ISLAMIC FINANCIAL PLANNING AND WEALTH MANAGEMENT

About this Course

Course Description

This course introduces the concept of financial planning and wealth management in Islam. It covers a theoretical and practical approach both in conventional and Islamic perspectives. The course highlights the process of wealth creations, accumulations, protections and distributions in Islam. Proper planning and management of wealth allows effective and efficient decision making for Muslims in order to ensure the continuous growth of Muslim’s equities.

Course Learning Outcomes

1 ) Demonstrate teamwork skills related to Islamic Financial Planning and Wealth planning.
2 ) Apply the knowledge on the process of financial planning and wealth management in Islam.
3 ) Describe the process in the financial planning and wealth management in Islam

Course Details

STATUS : Open
DURATION : FLEXIBLE
EFFORT : 3
MODE : 100% Online
COURSE LEVEL : Beginner
LANGUAGE : English
CLUSTER : Business & Management ( SP )

 Syllabus

1.1 Introduction
1.2 Islamic Perspective on Wealth
1.3 Rights to Wealth
1.4 Method in Accumulating Wealth
1.5 Islamic Perspective on Wealth Accumulation
1.6 Mobilization of Wealth
1.7 Skills in Mobilizing Wealth – Spending of Wealth
1.8 Islamic Teaching on Spending
1.9 Purification of Wealth in Islam

2.1 Introduction
2.2 Definition of Wealth Planning
2.3 Objectives of Wealth Planning
2.4 Wealth Planning in Islam
2.5 Wealth Planning Process
2.6 Investment Planning
2.7 Tax Planning and Zakat
2.8 Retirement Planning
2.9 Estate Planning
2.10 The Trade-off Concept

3.1 Introduction
3.2 Establishment of Objectives
3.3 Identifying Potential Opportunities
3.3.1 Shariah Compliance of Asset Classes
3.4 Identifying Risks and Constraints
3.5 Strategic Asset Allocation Process
3.6 Asset Allocation Strategies
3.6.1 Passive, Active and Semi Active Approaches

4.1 Introduction to Islamic Financial Markets
4.2 Different Forms of Islamic Financial Markets
4.2.1 Islamic Money Market
4.2.2 Islamic Capital Market
4.2.2.1 Equity Market
4.2.2.2 Debt Market
4.3 Islamic Financial Systems
4.3.1 Financial Intermediaries
4.3.2 Financial Authorities – Bank Negara and Securities Commission
4.3.3 Role of Shariah Advisory Council (SAC) and Shariah Committee (SC)

5.1 Introduction
5.2 Concept of investment in Islam
5.2.1 Risk and Return
5.3 Islamic Financial Systems
5.3.1 Financial Intermediaries
5.3.2 Exchanges and Regulator
5.3.3 Role of Shariah Advisory Council (SAC) and Shariah Committee (SC)
5.3.4 Shariah Compliant Stocks Screening Methodology
5.4 Different Forms of Islamic Financial Markets
5.4.1 Islamic Money Market
5.4.2 Islamic Capital Market
5.4.2.1 Equity Market and Products 5.4.2.2 Technical and Fundamental Analysis
5.4.2.3 Debt Market and Products 5.4.2.3.1 Selected Government Bond Instruments
5.5 Unit Trust
5.5.1 Concept and Types
5.5.2 Advantage and Disadvantages
5.5.3 Selection of Unit Trust
5.5.4 Islamic REITS – Concept, benefits and risk
5.6 Short-term Marketable Securities and other instruments
5.7 Depository Instruments
5.8 Properties Investments
5.8.1 Factors to consider and Types

6.1 Introduction
6.2 Concept of Takaful
6.2.1 Risk Sharing and Risk Transfer
6.3 Role of Takaful in Wealth Planning 6.4 Factors affecting the needs for Takaful
6.4.1 Types of Takaful products and services
6.4.1.1 Family Takaful
6.4.1.2 General Takaful
6.4.2 Takaful Models


7.1 Introduction
7.2 Concept of Hibah, Estate and Trust Planning
7.3 Wills and Trusts
7.4 Legal Framework Related to the Administration and Distribution Process in Malaysia
7.4.1 Power of Attorney
7.4.2 Duties and Power of Representative 7.4.3 Rights of Beneficiaries
7.5 Faraid as Foundation of Islamic Estate Planning
7.6 Faraid Computation
7.7 Islamic Estate Planning Services in Malaysia

8.1 Introduction
8.2 Definition, Principles and Objectives of Taxation
8.2.1 Types and scope of tax assessment 8.2.2 Inland Revenue Board (IRB), tax administration and tax compliance
8.3 Definition, Principles and Objectives of Zakat
8.4 Laws related to Zakat
8.4.1 Criteria and Recipients
8.5 Categories of Zakat
8.5.1 Zakat al-Fitrah
8.5.2 Zakat al-Mal

9.1 Introduction
9.2 Concept of Sadaqah and Waqf
9.3 Difference between Sadaqah and Waqf
9.4 History and Role of Waqf
9.5 Conditions and Types of Waqf
9.6 Waqf Administration in Malaysia
9.6.1 Issues, Potential and Challenges


10.1 Introduction
10.2 Roles of Financial Planner
10.2.1 Financial Planner versus Wealth Advisor
10.3 Financial Planning versus Wealth Management
10.4 Constructing Personal Financial Planning
10.4.1 Types of Financial Statements
10.4.2 Financial Ratios
10.5 Case study on Wealth Advisory

Our Instructor

DR RIKINORHAKIS BIN RIDZWAN

Course Instructor

WAN YUSROL RIZAL BIN W. YUSOF

Course Instructor
UiTM Kampus Kota Bharu

TS. NORIDAH BINTI ABU BAKAR

Course Instructor
UiTM Shah Alam

MUHAMMAD ABD HADI BIN ABD RAHMAN

Course Instructor
UiTM Kampus Puncak Alam

DR. NOR HALIDA HAZIATON BINTI MOHD NOOR

Course Instructor
UiTM Kampus Kota Bharu

DR. HASNI BINTI ABDULLAH

Course Instructor
UiTM Kampus Puncak Alam

 Frequently Asked Questions

A1 : In Islam, wealth is viewed as a blessing from Allah and is considered a means to fulfill one's needs, support one's family, and contribute to the welfare of society. However, it comes with responsibilities, including the obligation to use it wisely, ethically, and in accordance with Islamic principles.

A2 : This course provides a comprehensive understanding of financial planning and wealth management from both conventional and Islamic perspectives. It delves into theoretical concepts and practical strategies for wealth creation, accumulation, protection, and distribution within the framework of Islamic principles.