Coopbank Alhuda Training

[image]. Welcome to. Coopbank Alhuda Training. Empowering Community, Transforming Lives..

Interest Free Banking Service. where principles of sharia Applied carefully.

Let us Know the Trainers/Facilitators. Name Background Experience Position Address Cell phone:- Email:-.

Let us Know each other. Full name Position Banking experience Work organ/Branch Your expectation from the training What does it mean by Interest Free Banking Service?.

Rule of the session. A picture containing logo Description automatically generated.

Role of the participants. Class managing Team (Admin Team) Time keeper Daily Reporting/Reviewing Team (Every day morning) Energizer Team.

General Objective The General objective of the training is to enhance the trainees knowledge, skills and attitudes necessary to engage in interest free banking operation..

Specific Objectives At the end of the training the trainee will be able to: Explain the Coop bank Alhuda banking process identity correctly without referring the strategy document. Define what is interest Free Banking without referring training material confidently. Explain at least six principles of Interest Free Banking without referring any materials exactly. List all Interest free Banking Deposit products without referring IFB CAO procedure exhaustively..

Specific Objectives… At the end of the training the trainee will be able to: Demonstrate the features of Interest free banking Deposit products without referring procedures accurately. Explain the Interest free Banking Financing products without referring Interest free Banking Finance procedure confidently. Apply interest free banking marketing skills without the help of colleagues exactly. Apply all interest Free Banking services without the help of colleagues exactly. Apply the marketing skill to sale the IFB products without the help of the collogues confidently..

[image]. 01. Overview of Islamic Economy. 02. Fundamentals of IFB.

Brainstorming Discuss briefly what is coop bank Vision, Mission, Core values, Motto and tag line..

Mission Statement of Coopbank. NOISSILN. Our Mission: Rooting our foundation in Communities, we redefine the banking experience, through innovative financial products to bank smarter and live better..

Vision of Coopbank. "Leading the way in financial inclusion, sustainability, and community empowerment for a brighter future.".

[image] Layer tiff. Picture 17 Picture 18 Picture 19.

[image]. Core values. Integrity Customer Satisfaction Learning Organization Teamwork Core Values Cost Consciousness CBO Concern for Community.

[Audio] Committed to Breakthrough!. Stewerdship – caring for our planet, people and profit Hospitality-welcoming, caring and farewell Integrity- we taking responsibility and ownership betrustworthy be professional commitment to ethical conduct and compliance Futuristic-we: innovation in daily task planning for the future in your role Adpting to change together.

[Audio] Committed to Breakthrough!. Intro……Core values.

Our Motto:. Empowering Community, Transforming Lives..

cognitive Training, health Fitness And Wellness, mind, brain, Knee, amazoncom, Life, human Body, health, Book.

Coopbank Alhuda Strategic Ambition. 2/21/2025. 20.

Coopbank Alhuda Corporate Identity. Logo Coopbank Alhuda has developed its own Corporate Identity that distinguishes the bank as a corporate entity. The Bank has Defined the following Logo and Colour as a brand for Coopbank Alhuda. CORPORATE LOGO; The corporate logo consists of two elements: the parent and the segment logo.

Coopbank Alhuda …. This sign is represented by “Qibla” The Qibla will be used both as a placeholder for letter A and Qibla itself which represents the meaning of the Coopbank Alhuda segment, It implies the right guidance toward the sustainable value-based business growth without compromising the Shari’ah compliance by balancing community, economy, and environment as business orientation.

Part One Overview to Islamic Economy.

Over view of Islamic Economy. Islamic economics seen as part of a dynamic, universal way of life that promotes social interaction at the highest possible level, this includes; laws on marriage, inheritance the basis of Islamic economics and finance and acts of worship.

Over view of Islamic Economy…. It defines areas of economics and demarcate parameters in methods of ; earning paying utilising and donating wealth. Accumulation or the hoarding of wealth is strictly prohibited,.

Over view of …. Wealth must be distributed in ways that earn the pleasure of the one who provides it. Prohibited earnings like the return of interest or the sale of immoral or impermissible products and services, Permissible earnings on the other hand, through legitimate trade and the offering of beneficial products and services are allowed,.

Socialism Economy Does not accept the concept of private property, Distribution of wealth is made via a wage, All capital and all land is surrendered to the State Capitalism Economy Interest is the reward for capital. Capital includes machinery (Islamic system includes machinery under land). Only the entrepreneur suffers the risk of loss, i.e. land, capital and labour still receive their dues. The benefit and reward of the individual..

Islamic Economy Socio-economic justice and equitable distribution of wealth; Development of the entire community and the eradication of a concentration of wealth. Partners share the risk of reward and loss; Money is not considered as a commodity; Financing must be asset-backed.

Concepts Capitalism Islam Socialism Resources/Wealth Scarcity of resources Bounties of God and no scarcity Scarcity of resources Ownership Individual freedom Private ownership is accepted but regulated by divine law The source of exploitation of labor Lifestyle Personal satisfaction (needs and wants) Falah (Prosperity) Equal welfare among public Primary concepts of conventional and Islamic Financial Planning.

Motivations Large Potential demand for IFB deposit and financing need, Large unbanked society due to their religion, (absence of tailored made banking), Large target population for the service, NBE’s directive help to render the service. Access to formal financial inclusion is low in Ethiopia,.

Objectives Demand cannot cater with conventional banking; Tailor-made banking services facilitate financial inclusion; Financial inclusion helps for high deposit resource; To bring customer satisfaction by retaining the existing, and expanding customer base; Regulatory and legal environment seems workable;.

Part Two Fundamental of Interest Free Banking.

Knowledge about IFB business The difference between IFB and conventional banking service Products and services of IFB and conventional banking; Principles of IFB business; Difference between profit and interest; Whether Islam is the only religion that forbid interest or others also forbid..

Brainstorming Have you ever heard the word sharia before? What does sharia mean to you? How it’s connected with the IFB banking service?.

Definition The actual definition of sharia is “path” i:e the correct path. Sharia is the totally of Islamic legal and ethical norms, in a sense the path the people take to live according to the God’s will. Sharia goes further than just permitted (Halal) and forbidden (Haram). Sharia considers five separate categories of actions, such as obligatory, recommended, merely permissible, discouraged and forbidden..

Shari’ah practices and Activities. [image] AQIDAH (Faith & Belief) Concerning faith and beliefs in ALLAH and His will IBADAT SHARIAH FIQH (Practices & Activities) Concerning practical actions in manifesting his faith and beliefs AKHLAQ (Moralities & Ethics) Concerning behaviour, attitude and work ethics in taking practical actions (Man-to-God Worship) Concerning practicalities of his worship of ALLAH POLITICAL ACTIVITIES MUAMALAT (Man-to-Man Activities) Concerning practicalities of his daily life in various forms of man-to-man activities ECONOMIC ACTIVITIES Banking and Financial Activities SOCIAL ACTIVITIES.

Qiyas Ijma Sunnah and Hadith Quran. The process of analogical reasoning. Consensus of the larger majority of classical jurists of the Muslim of the prophet . Sayings, deeds, action, approvals, disapprovals of prophet Mohammed (Pbuh) Divine Revelation.

IFB is ‘A banking business in which mobilizing or advancing of funds taken in a manner consistent with Islamic Finance Principle and mode of operation that avoids receiving or paying interests’, NBE, 72/2019). The basic principles underlying in IFB transactions are banking or financing should not involve an activity prohibited by Shari’ah (Islamic law) and mainly that it must not involve riba (the giving or receiving of interest)..

The general secretariat of the Organization of the Islamic Conference, defines an Islamic bank as “a financial institution whose statutes, rules, and procedures expressly state its commitment to the principle of Sharia and to the banning of the receipt and payment of interest on any of its operations” (Ali and Sarkar 1995, p. 22)..

The Central Bank Law of Kuwait (1968, as amended in 2003) stipulates those Islamic banks “exercise the activities pertaining to banking business and any activities considered by the Law of Commerce or by customary practice as banking activities in compliance with the Islamic Sharia's principles.”.

What is RIBA? ‘’Interest is the earning based on the use of money, not on labor and all such earning are against nature’’. Aristotle Riba is Arabic word means “growth, increase, addition, expansion” and denotes the payment or receipt of interest for the use of money. A loan with a fixed return to the lender regardless of the outcome of the borrower’s course of action is viewed as unfair. Riba is also believed to represent sure gain to the lender without any possibility of loss as well as a reward in return for no work..

[Audio] Riba al buyu is mainly in exchange contracts Riba al duyun is in loan contracts.

Riba in Holy Quran and Holy Bible (quotes). What is IFB ….

[Audio] Compound interest(Amount)=p(1+r/n)nt. Interest is the worst…...

The pioneering effort, led by Ahmad El-Naggar, took the form of a savings bank based on profit-sharing in the Egyptian town of Mit Ghamr in 1963. This experiment lasted until 1967 by the time there were nine such banks in the country, 1973 (Philippines) Philippines Amanah Bank was established. Designed to serve the special banking needs of the Muslim community..

History of Interest-Free Banking. 1. 1963: Pioneering Effort.

History of …. Iran Government driven Market driven Saudi Arabia Malaysia United Arab Emirates Bahrain Kuwait Indonesia Brunei USA Pakistan Sudan Qatar Singapore Bangladesh Oman Turkey Egypt Sri Lanka South Korea China HIGH LOW Japan Hong Kong Asia-Pacific Middle East Others UK.

Facts and Figures in Global Market. Size (Asset) $ 4.2 trillion (Expected to exceed $5 trillion by 2025) Growth Average 15%-25% globally No of Players More than 500 IFIs operating in over 80 countries globally. Key Markets Malaysia, Saudi Arabia, UAE, Kuwait, Qatar, Sudan, Iran, Pakistan, Bangladesh, Egypt ,Indonesia, Brunei Other Markets India, Britain, Germany, USA, Canada, Singapore, Thailand, Australia Major Institutions IFSB (Malaysia), AAOIFI (Bahrain).