Sukuk & Islamic Capital Markets
A sukuk is not an Islamic bond — it is an ownership claim engineered to behave like one, and the difference decides everything in distress.
Format
Classroom · Virtual
Upcoming sessions
Pick a session to applyADMISSIONS OPENThe programme
Sovereigns and corporates across the Gulf, Asia and Africa now fund routinely in the sukuk market — and every issue rests on a structure most participants have never opened. This programme opens it: the main sukuk structures — ijara, wakala, murabaha, hybrid — from asset selection through SPV mechanics to periodic distributions and dissolution; the credit and Sharia analysis investors and rating agencies actually run, including what asset-backed versus asset-based means when things go wrong; issuance mechanics from mandate to listing; and the wider market — Islamic funds, equity screening and indices.
What you will do
Who attends
Treasury and capital markets teams; investment bankers and DCM professionals; institutional investors and analysts; regulators and central bank staff covering sukuk markets.
Programme agenda
Built for the decisions no textbook prepares you for
I.The structures
- Ijara, wakala, murabaha and hybrid sukuk — anatomy of each
- The SPV: asset transfer, distributions, dissolution events
- AAOIFI’s structural requirements and their market consequences
II.The analysis
- Credit: recourse, ranking and what dissolves at default
- Asset-backed versus asset-based — the distress cases that taught the market
- Pricing against conventional curves: spread, liquidity, demand
III.The market
- Issuance mechanics: mandate, structuring, bookbuild, listing
- Islamic funds and equity screening: the buy-side toolkit
- Sovereign programmes and the market’s next decade
Frequently asked
Which sukuk structures does the programme cover?
The programme opens the main sukuk structures — ijara, wakala, murabaha and hybrid — following each from asset selection through SPV mechanics to periodic distributions and dissolution events. AAOIFI’s structural requirements and their market consequences frame the anatomy, so participants can read and explain a structure rather than simply recognise its name on a term sheet.
Does the course explain asset-backed versus asset-based sukuk?
Yes — and it treats the distinction as the one that decides everything in distress. The programme runs the credit and Sharia analysis investors and rating agencies actually perform: recourse, ranking and what dissolves at default, the distress cases that taught the market the asset-backed versus asset-based lesson, and pricing against conventional curves for spread, liquidity and demand.
Who is the sukuk course designed for?
Treasury and capital markets teams, investment bankers and debt capital markets professionals, institutional investors and analysts, and regulators and central bank staff covering sukuk markets. It suits anyone who works with sukuk — as issuer, arranger, investor or supervisor — and wants to understand the ownership structures beneath instruments most participants have never opened.
Can the programme be delivered in-house, and in which languages?
Yes. Like every BIZENIUS programme, it is available in-house, tailored to your institution — useful where a treasury or DCM desk wants the casework built around its own funding plans. Programmes are delivered in English and French, sessions run on a rolling calendar with dates confirmed on request, and fees and quotations are shared on enquiry.
Who teaches this
Practitioners, not presenters.
Led by practitioners who hold, or have held, the seats this programme prepares you for: group treasurers and heads of asset–liability management, chief risk officers, heads of credit and capital management, and former central-bank supervisors who examined the very frameworks they now teach. Between cohorts the same people advise banks on those frameworks, so what you learn is what is being defended in front of boards and regulators today.
What the bench brings
- Risk management for Islamic banks
- Asset–liability management and funds transfer pricing
- Liquidity ratios and capital planning
- Financial product development and modelling
- Financial modelling, valuation and forecasting
- Treasury products and trading-book management
Where they have practised
Current and former practitioners — people who hold the seat today alongside those who have held it.
Sectors: Banking & financial services · Professional services · Technology & fintech
Regions: Africa · the Middle East · Europe · Asia · the Americas
How they teach
- Live case studies from real institutions
- Worked exercises on realistic bank data
- Regulator-style challenge sessions
- Group problem-solving on realistic institutional cases
- Knowledge checks and a personal action plan
Cohorts are kept small so every exercise is worked on the participants’ own situations — in person or live virtual.
The faculty profile for your cohort is sent with the full agenda and the next dates when you enquire.Request brochure →
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In their words
Knowledge transfer, emphasised throughout
“We worked with BIZENIUS for our Fresh Graduates Programme — they are simply amazing. Knowledge transfer and practical learning were emphasised throughout.”
Kuwait Investment Authority
From the Mandate Record
Mandate № 04 · Africa
Capital frameworks built to run the bank, not to satisfy a filing
Most frameworks are written to satisfy the regulator. We build the kind that run the bank.
Open the dossier →
The Capability Arc™
Fix it · Advisory
Advisory & Consultancy
A senior bench across risk, treasury and regulation.
Learning is one point on the Capability Arc. Many institutions pair this programme with the advisory engagement — and automate what the framework demands.
Teams from these institutions train with BIZENIUS
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Take the brochure with you.
One request — the full agenda, the faculty and the next cohort dates, sent personally by the admissions team.







































