Part time

Islamic Finance

Network: 
Law Society Finuas Network
Location of Course Chartered Institute of Management Accountants
Harcourt Road, Dublin 2
Trainer Chartered Institute of Management Accountants
Download Application Form http://www.lawsociety.ie/Documents/CPD%20Focus/CPD%20Focus%20-%20F1301%20Brochure.pdf
Further Enquiries Phone: 01 881 5727
Email: finuas@lawsociety.ie
Course Content Due to Ireland’s increasing importance as a western hub for Islamic Finance, the Chartered Institute of Management Accountants (CIMA) in partnership with the Law Society Finuas Network is once again presenting a blended-learning model of the CIMA Diploma in Islamic Finance for 2013 (CDIF). The CDIF is now in its third year and has seen over 100 participants successfully complete the programme. Given the government objective to position Ireland as a European hub for the delivery of wholesale Islamic finance services, this is an important area of growth and opportunity within the Irish Financial Services industry.
Enrolment and Start Dates Comment Start Date: 14/02/2013
End Date: 13/06/2013
Subjects Taught Islamic Commercial Law
• The sources of the Islamic commercial law including the Qur’an and the traditions of the Prophet Mohammad.
• The methodologies used to solve modern problems in Islamic finance.
• The historic contracts involved in Islamic commercial law.
• Shari’ah compliance and the importance of the Shari’ah standards

Islamic Banking and Takaful
• The developments which have taken place with regard to Islamic financial institutions and systems.
• The main source of funds available to banks and how these sources are rewarded.
• The various products developed by Islamic banks for their customers.
• The products and services offered under Takaful and issues relating to underwriting, deficits, surpluses and Retakaful.
• The financial and operational risks common to both the banking and insurance sectors

Islamic Capital Markets and Instruments
• The differences between conventional and Islamic capital markets.
• The primary and secondary capital markets.
• Regulation within the Islamic capital market.
• Screening processes used in accepting/ rejecting Shari’ah compliant products.

Accounting for Islamic Financial Institutions.
• The reporting framework and standards of Islamic financial institutions.
• The analysis and classification of Islamic funding and financing transactions.
• How transactions adopting different contracts of financing are reported in the Islamic financial statements.
• Financial accountability and Shari’ah compliance of Islamic financial institutions.

Duration 14 February - 13 June 2103
Number of Places 50
Course Fee Fee: €990
Discounted *Fee: €742
* Applicable to Law Society Finuas Members
Course Web Page: 
http://www.lawsociety.ie/Diploma_in_Islamic_Finance_Law_14th_Feb.aspx
Available to Job Seekers: 
No
Certified: 
No

JSSP - CIMA Diploma in Islamic Finance

Network: 
Law Society Finuas Network
Location of Course CIMA Ireland, Harcourt Road, Dublin 2
Trainer Chartered Institute of Management Accountants (CIMA)
Further Enquiries Email: jssp@lawsociety.ie
Phone: 01 881 5727
Course Content The Chartered Institute of Management Accountants (CIMA) has launched the CIMA Diploma in Islamic Finance (CDIF) in Ireland. As the first professional accountancy body to introduce a professional qualification to the Irish market, CIMA is taking the lead at a time when the Irish government is actively working to establish the IFSC as a European hub for the provision of wholesale Islamic finance services.
The CDIF is the first global qualification of its kind to be created by a professional chartered accountancy institute. In conjunction with an advisory group of Shari'ah academics and scholars, CIMA has worked closely with the International Institute of Islamic Finance Inc. to develop a relevant and highly applicable qualification.

Islamic finance
The Islamic finance industry is growing at an exponential rate and the sector’s global worth is estimated to be between €870bn and €990bn with an annual growth rate of 15% to 20%. This growth has continued throughout the global economic crisis –albeit at a slower pace - largely because of its vigorous screening processes and stringent corporate governance practices in dealing with excess liquidity in many oil producing countries.
Islamic finance is both a new and old phenomenon. Its guiding principles originate in the early days of Islam. The modern form under the current financial framework is new to many stakeholders such as regulators, standard setting bodies, shareholders, practitioners and much of the general Muslim population.

The modern rebirth of Islamic finance took place in the Middle East in 1975 when the Dubai Islamic Bank became the first Islamic commercial bank in the world. The first Islamic insurance companies, or Takaful, were established shortly afterwards in Sudan and Dubai in 1979. Today, there are 300 Islamic finance institutions operating in more than 75 countries. As the sector grows, an international focus becomes more important.

Blended Tuition

Enrolment and Start Dates Comment Enrolment and Start Dates: 07/03/2013 for 07/05/2013
Subjects Taught The CDIF is comprised of four individual certificates that will be delivered via CIMA’s blended tuition package. Upon completion of all four certificates you will be awarded the CIMA Diploma in Islamic Finance.

The content of each of the four modules is as follows:
Certificate in Islamic Commercial Law
• The sources of the Islamic commercial law including the Qur’an and the traditions of the Prophet Mohammad
• The methodologies used to solve modern problems in Islamic finance
• The historic contracts involved in Islamic commercial law
• Shari’ah compliance and the importance of the Shari’ah standards.

Certificate in Islamic Banking and Takaful
• The developments which have taken place with regard to Islamic financial institutions and systems
• The main source of funds available to banks and how these sources are rewarded
• The various products developed by Islamic banks for their customers
• The products and services offered under Takaful and issues relating to underwriting, deficits, surpluses and Retakaful
• The financial and operational risks common to both the banking and insurance sectors.

Certificate in Islamic Capital Markets and Instruments
• The differences between conventional and Islamic capital markets
• The primary and secondary capital markets
• Regulation within the Islamic capital market
• Screening processes used in accepting/ rejecting Shari’ah compliant products.

Certificate in Accounting for Islamic Financial Institutions
• The reporting framework and standards of Islamic financial institutions
• The analysis and classification of Islamic funding and financing transactions
• How transactions adopting different contracts of financing are reported in the Islamic financial statements
• Financial accountability and Shari’ah compliance of Islamic financial institutions.

Comment The Diploma in Islamic Finance is a recognised CIMA qualification which carries the designatory letters of 'CDIF’.
Number of Places 10
Course Fee This course is for Jobseekers (solicitors) and is Free of Charge
Course Web Page: 
http://www.lawsociety.ie/Pages/CPD-main/Job-Seeker-Courses/
Available to Job Seekers: 
Yes
Certified: 
No

JSSP - CIMA Advanced Diploma Islamic Finance

Network: 
Law Society Finuas Network
Location of Course CIMA Offices, Harcourt Road, Dublin 2
Trainer Chartered Institute of Management Accountants - CIMA
Further Enquiries Email: jssp@lawsociety.ie
Phone: 01 881 5727
Course Content The CADIF consists of 5 substantive areas:
• Shari’ah contracts, structuring process and financial environments;
• Islamic banking system and products;
• Equity, Sukuk and fixed income instruments;
• Takaful and Retakaful models and policies;
• Islamic Risk Management tools and strategies.
Enrolment and Start Dates Comment Start Date: TBA
Number of Places 30
Course Fee This course is for Job Seekers (solicitors) and is Free of charge
Course Web Page: 
http://www.lawsociety.ie/Pages/CPD-main/Job-Seeker-Courses/
Available to Job Seekers: 
Yes
Certified: 
No

Derivatives

Network: 
Summit Finuas Network
Trainer Quickstep Consulting
Learning Outcomes At the end of this course, in relation to futures, options, CFDs and swaps, participants will be able to;
• Describe the different types of contract
• Explain how derivatives trading takes place
• Explain how fund managers use different types of derivatives
• Calculate income, gains & losses on derivatives trading
• Describe the potential benefits and risks associated with trading different types of derivatives,
Further Enquiries Louise Ryan
e: louise.ryan@ibec.ie
t: 01 605 1546
Course Content Who Should Attend?
Staff with little or no experience of derivatives.
Enrolment and Start Dates Comment Spring 2013
Please email louise.ryan@ibec.ie to register your interest.
Subjects Taught Futures
• Background
• Contract types
• Trading
• Margin
• Gains & losses
• Uses, benefits & risks

Options
• Terminology
• Exchange-traded options
• Over-The-Counter (OTC) instruments
• Premium, gains & losses
• Strategies, benefits & risks

Contracts for difference (CFD’s)
• Types
• Trading
• Benefits & risks

Interest rate swaps
• Flows
• Uses
• Benefits & risks

Overview of total return swaps and currency swaps

Course Web Page: 
http://www.summitfinuasnetwork.com/Funds-Courses/derivatives.aspx
Available to Job Seekers: 
Yes
Certified: 
No

Money Market Funds

Network: 
Summit Finuas Network
Location of Course IFSC, Dublin 1
Trainer Quickstep Consulting
Learning Outcomes At the end of this course participants will be able to
• Describe the key features of money market funds and how they differ from other fund types
• Describe the main instruments used by money market funds
• Calculate fund yields, WAM & WAL
• Describe the amortised cost basis of valuation
• Explain how money market funds are priced
• Discuss the methodology behind money market fund ratings
• Describe the ESMA definitions of money market funds and short term money market funds
• Outline UCITS rules regarding money market funds
• Describe the essentials of Rule 2a-7
• Outline briefly some key recommendations from the IMMFA Code of Practice.
Further Enquiries Louise Ryan
e: louise.ryan@ibec.ie
t: 01 605 1546
Course Content Who Should Attend?
Staff with some funds experience but with little or no experience of money market funds.
Enrolment and Start Dates Comment Spring 2013- Please email louise.ryan@ibec.ie to register your interest.
Subjects Taught Course Content
• Money market funds and other mutual funds
• Types & characteristics
• Instruments
- Overview
- Commercial paper
- Asset-backed commercial paper
- Certificates of deposit
- Repurchase agreements
- Floating rate notes
- Variable demand obligations
- Government securities
- Government agency securities
- Time and call deposits
• Constant NAV and Variable NAV funds
• Yield calculation
• Weighted average maturity (WAM)
• Weighted average life (WAL)
• Amortised Cost Net Asset Valuation (NAV) calculation
• Pricing and the marked-to-market NAV calculation
• Money market fund ratings
• Money market fund regulation
- European Securities and Markets Authority (ESMA) definitions
- UCITS rules
- Rule 2a-7
• Institutional Money Market Fund Association (IMMFA) Code of Practice.
Course Web Page: 
http://www.summitfinuasnetwork.com/Funds-Courses/money-markets-funds.aspx
Available to Job Seekers: 
Yes
Certified: 
No

Graduate Certificate in Sustainable Energy Finance

Network: 
Summit Finuas Network
Trainer Dublin City University (DCU)
Methods of Assessment Assessment is a mixture of continuous assessment, action learning, presentations and exams.
Learning Outcomes Students on this programme will:
• develop a general understanding of sustainability principles and practices and the fundamentals of climate change
• understand the global market dynamics in green products and services and the business opportunities that they present
• access current information developments in environmental policy and trends
• explore techniques and models of asset management, funds servicing, carbon trading, project financing and insurance associated with green finance
• explore corporate responses to climate change and finance solutions for sustainability projects
• interact with other professionals working in the area of sustainability and finance
Further Enquiries Louise Ryan
e: louise.ryan@ibec.ie
t: 01 605 1546
Entry Requirements Applicants should hold a minimum of a second class honours, grade two primary degree (Level 8) in a cognate discipline or equivalent professional qualification.

Consideration will be given to applicants on the basis of their work experience (with a minimum requirement of three years relevant experience) and / or other relevant professional and/or educational achievements.

Careers or Further Progression Progression from the Graduate Certificate in Sustainable Energy Finance:
Participants who complete the Graduate Certificate and later wish to undertake the MSc in Sustainable Energy Finance will be required to complete the following two requisite modules in the first year of the MSc before entry into the second year, (i) ‘Management for Sustainability’ and (ii) ‘Finance and Derivatives’. In the second year, participants will complete five modules and a dissertation. They will be exempt from the ‘Legal Issues for Sustainability’ module.
Course Content The Graduate Certificate in Sustainable Energy Finance is a one-year part-time programme leading to an award which is gaining increasing recognition across the sector.

The objective of the programme is to provide a broad and comprehensive overview of sustainable energy finance to support new business streams within investment banks, professional firms working in the broader green economy and companies which are developing renewable products and technologies.

The programme prepares participants for advanced management and leadership in all areas of sustainable energy finance by enhancing the depth and breadth of their knowledge of the sustainability environment and by enabling them to critically evaluate processes and programmes within this context.

Furthermore, the programme equips participants with a relevant range of analytical, technical and methodological skills. This will enable them to generate successful solutions to the opportunities and challenges that present themselves in the wider sustainable energy finance context.

Programme Structure
The programme is delivered on a part-time modular basis with attendance at Dublin City University on two-day blocks (Fridays and Saturdays, generally once a month) ensuring minimal disruption to work schedules while also respecting the personal time of participants.

The programme has six taught modules. Assessment is a mixture of continuous assessment, action learning, presentations and exams.

The programme incorporates a high level of input from senior executives from the IFSC. Students complete a practical project in the area of sustainable energy finance, directly related to their current role where appropriate.

The integration of high quality academic rigour and practical industry application is a unique feature of the learning approach, allowing both the individual student and host companies to benefit from the programme.

Enrolment and Start Dates Comment Summer 2013 - for further information on the application process, please contact Louise Ryan at louise.ryan@ibec.ie
Subjects Taught Semester 1
• Climate Change, Sustainability and Policy
• Climate Change and Markets
• Finance for Sustainability

Semester 2
• Accounting and Taxation for Sustainability
• Legal Issues for Sustainability
• Sustainable Energy Finance Project

Duration 1 Year Part time
Course Fee €4,500 for non members
€2,800 for network members
Course Web Page: 
http://www.summitfinuasnetwork.com/green-enterprise/graduate-certificate-in-sustainable-energy-finance.aspx
Available to Job Seekers: 
No
Certified: 
Yes

Sustainable Energy Finance

Network: 
Summit Finuas Network
Location of Course DCU Campus
Trainer Dublin City University (DCU)
Methods of Assessment Assessment is a mixture of continuous assessment, action learning, presentations and exams.
Learning Outcomes Programme participants will:
• develop a general understanding of sustainability principles and practices and the fundamentals of climate change
• understand the global market dynamics in green products and services and the business opportunities that they present
• access current information developments in environmental policy and trends
• explore techniques and models of asset management, funds servicing, carbon trading, project financing and insurance associated with green finance
• explore corporate responses to climate change and finance solutions for sustainability projects
• understand renewables markets and technologies
• develop a range of technical, analytic and quantitative skills for application to problems and challenges in green finance
• explore the structure and dynamics of environmental markets
• explore the use of derivative instruments in carbon trading and weather and catastrophe risk management.
• interact with other professionals working in the area of sustainability and finance.
Further Enquiries Louise Ryan
e: louise.ryan@ibec.ie
t: 01 605 1546
Entry Requirements Applicants should hold a minimum of a second class honours, grade two primary degree (Level 8) in a cognate discipline or equivalent professional qualification.

Consideration will be given to applicants on the basis of their work experience (with a minimum requirement of three years relevant experience) and / or other relevant professional and/or educational achievements.

Careers or Further Progression Progression from the Graduate Certificate in Sustainable Energy Finance
Participants who have completed the Graduate Certificate in Sustainable Energy Finance and later wish to undertake the MSc programme will be required to complete the ‘Management for Sustainability’ and ‘Finance and Derivatives’ modules in the first year. In the second year, participants will complete all modules with the exception of the ‘Legal Issues for Sustainability’ module, for which an exemption will apply from the Graduate Certificate.
Course Content The MSc in Sustainable Energy Finance is a two-year part-time programme leading to an award which is gaining increasing recognition across the sector.

The objective of the programme is to provide a broad and comprehensive overview of sustainable energy finance to support new business streams within investment banks, professional firms working in the broader green economy and companies which are developing renewable products and technologies.

Programme Structure
The MSc programme is delivered on a part-time modular basis with attendance at Dublin City University on two-day blocks (Fridays and Saturdays, generally once a month) ensuring minimal disruption to work schedules while also respecting the personal time of participants.

The programme has twelve taught modules and a dissertation.

Year 1 incorporates a high level of input from senior executives from the IFSC. In Year 2 participants benefit from leading academic and industry contributors, bringing further research depth and academic rigour to the course. A significant dissertation will be undertaken on a supervised basis, allowing students to build up expertise in a practitioner-relevant topic of academic or industry focus.

In exceptional circumstances, the programme will facilitate participants deciding to exit early with a Graduate Certificate (30 credits - level 9 NFQ) or Graduate Diploma (60 credits - level 9 NFQ).

Enrolment and Start Dates Comment Summer 2013 - For furhter information, please contact Louise Ryan at louise.ryan@ibec.ie
Subjects Taught Year 1 – 30 Credits
Semester 1
• Climate Change, Sustainability and Policy
• Climate Change and Markets
• Finance for Sustainability

Semester 2
• Accounting and Taxation for Sustainability
• Management for Sustainability
• Finance and Derivatives

Year 2 – 30 Credits
Semester 1
• Renewable Energy: Technology and Economics
• Applied Econometrics for Sustainable Energy Markets
• Investment and Project Appraisal

Semester 2
• Carbon Markets
• Derivatives and Insurance for Climate Change
• Legal Issues for Sustainability

Year 2 – 30 Credits
• Dissertation

Duration 2 Years part time.
Course Fee €14,500 for non network members
€9,500 for network members
Course Web Page: 
http://www.summitfinuasnetwork.com/green-enterprise/msc-in-sustainable-energy-finance-1.aspx
Available to Job Seekers: 
No
Certified: 
Yes

IFRS for Investment Funds

Network: 
Summit Finuas Network
Trainer Quickstep Consulting
Learning Outcomes At the end of this course participants will be able to;
• Identify the role and objective of the International Accounting Standards Board
• Outline the IFRS requirements for classifying a financial instrument as a liability or equity and assess the implications for an Investment Fund
• Identify the IFRS rules for the initial recognition and classification of financial instruments and apply them to instruments typically traded by an Investment Fund
• Outline the IFRS rules for the de-recognition of financial instruments and evaluate the application of these rules to an Investment Fund
• Describe the IFRS rules for subsequent measurements at fair value and apply them to each of the main types of financial instruments held by an Investment Fund
• List the main disclosure requirements for financial instruments contained in IFRS
• Identify the circumstances where consolidation may be required by an Investment Fund
• Outline the main steps that are taken to complete the consolidation of a parent and its subsidiaries for master-feeder structures and for fund of funds structures
• Discuss current development for IFRS on financial instruments.
Further Enquiries Louise Ryan
e: louise.ryan@ibec.ie
t: 01 605 1546
Course Content Who should attend?
Staff responsible for the preparation or audit of fund financial statements in accordance with international financial reporting standards.
Enrolment and Start Dates Comment Spring 2013 - Please email louise.ryan@ibec. ie to register your interest.
Subjects Taught • Role and objective of the IASB
• Financial Instruments
o Classification as liability or equity
o Initial recognition
o Initial measurement
o Classification of financial assets
 Financial assets at fair value through profit & loss
 Available-for-sale
 Loans & receivables
 Held-to-maturity
o Classification of financial liabilities
o De-recognition
o Subsequent measurement-fair value
o Disclosure - Significance of financial instruments
o Disclosure - The fair value hierarchy
o Disclosure - Nature & risks arising from financial instruments
 Qualitative & quantitative
 Credit, liquidity & market risk
• Consolidated Financial Statements
o Background
o Master feeder structures
o Fund of funds
• Current Developments
o Current challenges in international financial reporting standards
o Expected developments
Course Web Page: 
http://www.summitfinuasnetwork.com/Funds-Courses/ifrs-for-investment-funds.aspx
Available to Job Seekers: 
Yes
Certified: 
No

Accounting for Derivatives under IFRS & US GAAP

Network: 
Summit Finuas Network
Trainer Quickstep Consulting
Learning Outcomes At the end of this course participants will be able to:
• Describe how derivatives trades are processed
• Discuss the possible pricing sources for derivative instruments
• Highlight the challenges in valuing derivatives
• Outline best practice in relation to valuing OTC instruments
• Identify how derivative instruments are measured at a balance sheet date under US GAAP and under IFRS
• Allocate various instruments to levels within the fair value hierarchy
• Discuss the disclosure requirements under US GAAP and under IFRS in relation to derivatives
Further Enquiries Louise Ryan
e: louise.ryan@ibec.ie
t: 01 605 1546
Course Content This course outlines how derivative trades are processed, positions are priced, valuations are produced and financial reports are completed. It covers futures, options and interest rate swaps and addresses fair value measurement and disclosure challenges under US GAAP and IFRS.

Who should attend?
Fund accounting, financial reporting and auditing teams who need a greater understanding of how derivatives are accounted for. Participants should be familiar with basic derivatives and fund accounting.

Enrolment and Start Dates Comment Dates: Spring 2013
Please email louise.ryan@ibec. ie to register your interest.
Subjects Taught • Derivatives trading
• Exchange-traded instruments
• Over-The-Counter instruments
• Collateral
• Trade processing
• Pricing policy
• Pricing sources
• Valuation
• Fair Value Measurement under US GAAP and IFRS
• Fair Value Hierarchy
• Disclosures
Course Fee Non Members Fee: €600
Network Members Fee: €480
Course Web Page: 
http://www.summitfinuasnetwork.com/Funds-Courses/accounting-for-derivatives-under-ifrs-and-us-gaap.aspx
Available to Job Seekers: 
Yes
Certified: 
No

Role of the Trustee

Network: 
Summit Finuas Network
Trainer Abacus Consulting
Learning Outcomes Following the programme participants will have:
• An appreciation for the range of functions that an Irish Fund Trustee has responsibility for

• An understanding of how this responsibility is discharged.

Further Enquiries Louise Ryan
e: louise.ryan@ibec.ie
t: 01 605 1546
Course Content Aim And Approach
This module aims to give delegates an insight into the workings and the responsibilities of a Fund Trustee for Irish regulated Fund.

Audience
The programme is intended for anyone who works in the Funds Industry, who wants to know more about the role of an Irish Fund Trustee, particularly those new to the Irish fund industry at any level.

Enrolment and Start Dates Comment Spring 2013
Please email louise.ryan@ibec. ie to register your interest.
Subjects Taught Agenda
• The role of the Trustee in Ireland
• Eligibility Criteria as per UCITS and non-UCITS Notices
• How the trustee is appointed/replaced
• Authorisation process

Responsibilities
• Fiduciary duty of care to unit-holders/share-holders
• For Safe-keeping of the assets of the Fund/scheme
• Relationship with Custodian and sub-Custodian
• Application of income
• Issue and Cancellation of shares/units
• Independence and remuneration of trustee

Reporting
• Relationship with Transfer Agent – reports required
• Relationship with Fund accountant – reports required
• Breaches of limits as per Prospectus
• Re-pricing where appropriate
• Inspection of Complaints Log with investors
• Report to Unit-holders/Shareholders in Periodic Reports
• Minimum Capital Requirement

Meetings with the Regulator
• Frequency
• Responsibilities for reporting errors and breaches

Involvement in In-specie transfers

Role in Risk Management Process

Overview of controls – ensure adequacy
• Ensure measurement is in line with stated practice
• Ensure exposure limits are being monitored effectively and corrective action taken where required

Duration 1/2 Day (9.30 - 12.30)
Course Web Page: 
http://www.summitfinuasnetwork.com/courses/the-role-of-the-trustee/
Available to Job Seekers: 
Yes
Certified: 
No
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