Maxbridge

University
Maxbridge

Interest-free Banking (IFB)

training proposal
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Interest-free Banking (IFB)

training proposal

Maxbridge training and consultancy, a private training and

consultancy firm based in Addis Ababa, Ethiopia, was estab-
lished in 2021 by endowed experts in various fields to derive
benefit from this opportunity. Our company provides
tailor-made and state-of-the-art training and wide-ranging
consultancy services to individuals, businesses, not-for profit
and government organizations. Aspires to be a leader in its
region, the company operates also on national and worldwide
projects.
Our firm provides the following training services for individuals
and businesses;
Interest free finance
IFRS
Project cycle management
Enterprise & Economic development
Organizational Development

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Personal Productivity
Capacity Building and many more
One of our training focus areas is interest-free finance which includes interest-free banking, takaful,
interest-free microfinance and interest free fund management among others. Underneath, the details of
the first module (MB101) is presented. The first module which covers interest-free banking (IFB): basic
concepts and practices is composed of five categories as demonstrated below.
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MODULE [MB101]

INTEREST FREE BANKING:

BASIC CONCEPTS AND PRACTICES
Category I: Fundamental principles and basic operational skills in IFB
Training target audience: All employees in the banking sector
Training objectives: the main objectives of this training are:

Enhance the understanding of IFB essential principles

Strengthen employee skills and competences in IFB
Empower employees to become more productive in the sector
Enable employees provide better IFB products and services to clients
Expected outcome: On successful completion of this training, trainees will be
able to:
Be familiar with the underlying principles of IFB
Gain knowledge of diverse IFB products and major contracts
Get essential operational skills required to work effectively

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Gain an insight to major challenges and misconceptions

Training topics: This category will cover the following topics

Fundamental principles of IFB
Interest-free banking vs conventional banking
Major contracts and products of interest-free finance
Basic Operations of IFB
Challenges and Misconceptions of IFB in Ethiopia
Duration: 3-5 days
Modalities: consecutive days, two weekends
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MODULE [MB101]

INTEREST FREE BANKING:

BASIC CONCEPTS AND PRACTICES
Training target audience: employees currently working on IFB
Training objectives:
This main objectives of this training are:
Holistic understanding of the fundamental principles of IFB
Manage main IFB products and services
Acquire knowledge on contemporary trends of the Industry
Be aware of legal and regulatory issues of IFB in Ethiopia
Gain an insight to the major IFB risks
Understand how to avert and manage risks
Expected outcome:
On successful completion of this training, trainees will be able to:
Comprehend IFB principles

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Have a holistic understanding of IFB products and services
Skillfully manage products and services offered by their bank
Update their knowledge on trends and advancements of the industry
Understand the law and regulations that govern the sector
Perform key role in managing and leading their institution
Training topics: This category will cover the following topics:
Review of the fundamental principles of IFB
Review of Key IFB products, services and operations
Contemporary trends in IFB
Legal and regulatory issues of IFB in Ethiopia
Risk assessment and mitigation for IFB
Duration: 5-7 days
Modalities: consecutive days, two weekends
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MODULE [MB101]

INTEREST FREE BANKING:

BASIC CONCEPTS AND PRACTICES
Category III: Effective leadership in IFB
Training target audience: team leaders and above
Training objectives: This category is designed to have the following objectives
Help IFBs leaders to understand the nature of their business (IFBs) and be ready for
challenges and influential roles
Comprehend the nature of product development and role of Shari’ah standards
Understand practical tools & concepts to develop team management and leadership
skills.
Expected outcome: On successful completion of this training, trainees will:
Build competencies of the participants so as to be effective leaders
Reinforce product development and innovation skills
Empower themselves create successful teams
Be aware of international standards and best practices to get lessons
Training topics: this category covers the following topics:

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Review of Fundamentals of IFB & Finance
Review of Key Products and modes of financing
Global IFB industry landscape (Global & Regional)
Misconception about IFB & its difference with Conventional Banking
Selected AAOIFI Shariah & Accounting Standards
Contemporary issues faced by IFBs
Attributes of Successful Team
Application of Leadership theories in IFB context
IFB success factors – Global Experience
Duration: 5-7 days
Modalities: consecutive days, two weekends
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MODULE [MB101]

INTEREST FREE BANKING:

BASIC CONCEPTS AND PRACTICES
Category IV: Comprehensive training in IFB
Training target audience: Anyone working in the banking sector
Training objectives: This module has the following main objectives:
Understand the fundamental principles and concepts of IFB
Identify the main products and instruments of IFB
Acquire the major practical aspects of IFB
Be aware of legal, regulatory and Shari’ah and corporate governance
issues in IFB
Gain an insight to the major risk management and accounting practices
in IFB
Expected outcome: On successful completion of this training, trainees will:
Be familiar with the underlying principles of IFB
Gain knowledge of diverse IFB products and major contracts
Get essential operational skills required to work effectively

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Be aware of accounting and Shari’ah standards to systematize the
services
Training topics: This category will cover the following topics:
Fundamental principles of IFB
Main products and instruments in IFB
Basic operations and global experiences of IFB
Legal and regulatory issues in IFB
Shari’ah issues in IFB
Risk assessment and mitigation for IFB
Accounting and reporting for IFB
Corporate governance for IFB
Duration: 20 days
Modalities: consecutive days, ten weekends
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MODULE [MB101]

INTEREST FREE BANKING:

BASIC CONCEPTS AND PRACTICES
Category V: Global experience in IFB (including visits in Turkey, Malaysia, UAE
etc.)
Training target audience: executives and senior bank managers
Training objectives: This category has the following main objectives:
Introduce participants with global best practices in IFB
Enhance targets awareness towards creating competitive products
Improve targets skills to alleviate various risk management methods
Share ideas with industry experts and professionals vis-à-vis real world
practices
Bring up to date them in relation to Fin-tech and IFB
Expected outcome: On successful completion of this training, trainees will be
able to:
Get insight of global best practices in IFB
Develop innovative IFB products that suit clients’ needs
Mitigate risks that stems from products using various techniques

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Apply up-to-date techniques to enhance IFB services
Training topics: This category will cover the following topics:
International best practices in IFB
Product development and innovation in IFB
Standardization of IFB products
Risk management techniques
Liquidity management: issues and challenges
Fin-tech and IFB
Duration: 20 days
Modalities: consecutive days, ten weekends
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Short profile of the trainers

Abdurahman Jemal (PhD) Abdu Seid (PhD)

He received BA in Accounting from Haramaya
University and MSc in Accounting and Finance
Addis Ababa University. In addition, he got MA
in Islamic Finance from Hamad Bin Khalifa
University (Qatar). He completed his PhD in Busi-
ness Administration (Finance) at Marmara
University (Turkey). He attended summer school
courses in Islamic Economics and Finance at
Sabahattin Zaim University. He published
articles related to Islamic finance in various
international journals and presented papers at
local and international conferences.
He received BA in Accounting from Haramaya
University and MSc in Accounting and Finance
Addis Ababa University. In addition, he got MA in
Islamic Economics and Finance from Istanbul
University. He completed his PhD in Business
Administration (Finance) at Marmara University and
post-doctoral research fellowship in Islamic finan-
cial institutions at Istanbul University (Turkey). He
attended summer school courses in Islamic
Economics and Finance at Sabahattin Zaim Univer-
sity. He published articles related to Islamic finance
in various international journals and presented
papers at local and international conferences. He
provided Islamic finance trainings to different busi-
nesspeople.

Kamil Abdu (PhD)

He received LLB from Mekelle University and LLM from Addis Ababa Univer-
sity. In addition, he got MA in Islamic Finance from Hamad Bin Khalifa Univer-
sity (Qatar). He completed his PhD in Commercial and Corporate Laws at
Selcuk University (Turkey). He published articles related to Islamic finance
from legal and regulatory perspectives in various international journals and
presented papers at local and international conferences.
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Short profile of the trainers

Ibrahim Abdulaziz (MSc) Suadiq Mohammed (PhD candidate)

He graduated in BA degree in Accounting and He is a PhD Candidate in Finance at Cukurova
Finance from Hawassa University and MA in University, Adana, Turkey. He has an MA in Banking
Business Management from Ibn Haldun Univer- and Finance from Ankara Yildrim Beyazit University,
sity Turkey). He is currently pursuing his MA B.Sc. in Islamic Economics, Banking and Finance
program in Islamic banking and finance at Mar- from International Open University and BA in Bank-
mara University. He attended short term train- ing and Finance from Jimma University. His research
ings and certificates on IFB like principles of IFB focuses on both conventional and Islamic finance
(IRTI), Risk management (IRTI), Risk manage- areas; and published a couple of research on both
ment and stress testing (NBT), IFB products and disciplines.
services (CIBAFI), IFB opportunities and chal-
lenges (TKBB), IFB and Digital Banking (TAIF).
Furthermore, He published articles related to
Islamic finance in various international journals
and presented papers at local and international
conferences. He provided Islamic finance train-
ings to different businesspeople.