1. Introduction Islamic finance has been growing rapidly in developing and developed countries in recent years. Islamic financial assets have expanded by over 10% annually and represented over 0.5% of global financial assets in 2010. The strong growth is likely to continue in the coming years despite the recent financial crisis. Islamic finance is operated free of interest and any ambiguity under the principle of profit-risk- sharing. In contrast to conventional finance, business transactions under Islamic finance require underlying genuine trade and assets. The Islamic finance market is still below its true potential. However, some countries in Africa and Asia are stepping up efforts to capitalize on the growing popularity of Islamic financial service industries. With the initiative of the Association of African Distance Learning Center (AADLC) and in partnership with the Global Development Learning Network (GDLN) and the Tokyo Development Learning Center (TDLC), a new learning program, “Introduction to Islamic Finance” has been organized to share fundamentals of Islamic finance with a special focus on policy makers and officials of the financial sector in Africa and Asia. This program will feature international experts of Islamic finance from the World Bank and other international organizations. This program will be offered in English and French. May 14-June 7, 2012 (Four Weekly Sessions) Videoconference-based Lecture Series Registration Deadline: April 30, 2012 Global Development Learning Network Seminar Series Introduction to Islamic Finance Goals After attending the program, participants will be able to Describe fundamental concepts in Islamic finance and its growth potential, Structure financial products and mechanisms under Islamic finance, Understand key actors and roles in regulating, supervising and monitoring, and Learn from practices in other countries on Islamic finance. Learning Contents Each module will feature presentations and interactive discussions on current issues and best practices in Islamic finance with international experts. The program will be delivered in four modules as follows. Session 1: Introduction to Islamic Finance – presenting definition and fundamentals of Islamic finance; global trend and estimated growth of the sector; and overview of emerging markets, products, and services in Islamic finance. (May 14, 2012: 3.00 – 5.30 pm) Session 2: Structuring Islamic financial products – presenting basic models of Islamic finance (trade-based and investment-based models); and various financial products and transaction models (loans, deposits, Sukuk-bonds, funds, Takaful-insurance) with practical examples. (May 24, 2012: 12 noon – 2.30 pm) Session 3: Geographical Expansion of Islamic Finance – addressing emerging markets and their government policies and jurisdiction; and international organization. (May 31, 2012: 12 noon – 2.30 pm) Session 4: Risk Management in Islamic Finance – analyzing market and credit risk management; and briefly presenting on legal issues under Islamic finance. (June 7, 2012: 12 noon – 2.30 pm)

2. Delivery of the program You can participate in the program at your nearest GDLN center. Each session will be a 2.5-hour interactive session using Video Conference technology. Each session consists of presentations followed by Q&A and open discussion. Lecture materials will be provided at the GDLN centers. Webcasting (Live Streaming via Internet) will be available. URL http://streaming.jointokyo.org/ (Internet access and Windows Media Player is required.) Language English or French will be used during the lectures. (depending on countries) Participation Requirements Strong commitment and support from employer. To ensure that participants can devote enough time to the course activities, we encourage participants to seek endorsement from their employers An e-mail account and computer. Course materials will be sent by email for pre-reading. HOW TO APPLY Please submit your confirmation of participation to the designated local contact person at your nearest GDLN center. (See box to the right for local contact persons) Registration Deadline: April 30, 2012 Course Fee: UGX.350,000= Speakers Zamir Iqbal, Lead Investment Officer, World Bank, Washington DC. Mr. Iqbal is a principal financial officer with the Quantitative Strategies, Risk and Analytics (QRA) Department of the World Bank Treasury. He earned his Ph.D. in international finance from the George Washington University, where he also serves as adjunct faculty of international finance. He has written extensively in the area of Islamic finance in leading academic journals and has presented at several international forums. Etsuaki Yoshida, JBIC Advisor, Adjunct Research Fellow, Center for Financial Research, Waseda University, Tokyo. Mr. Yoshida has held a career as an economist at the Bank of Japan and joined as an advisor in charge of policy planning of Islamic finance in the Japanese Bank for International Cooperation (JBIC) since 2007 to present. He has been teaching Islamic finance at the Waseda Graduate School as a visiting associate professor. Moderator Mor Seck, Senegal, Manager/Director Senegal Distance Learning Centre and President of the Association of African Distance learning Centers (AADLC) Target Audience National and local government officials from financial ministries and agencies. Officers from commercial banks, legal department, insurance, security and asset management companies. Microfinance institutions and NGOs who wish to develop knowledge on Islamic finance for their business activities in Africa and selected countries in South and East Asia. Financial sector staff from international organizations. Contacts for Registration Gladys Bwoch or Christine Nalwanga Training Officer Administrative Assistant 078-4-458992 077-2-681305 Distance Learning Department Uganda Management Institute KAMPALA Program Contact Association of African Distance Learning Centres Association Africaine Des Centres D’education A Distance E-mails: info@aadlc.cominfo@aadlc.com Tanzania: TGDLC, Shaaban Robert Str P. O. Box 3918, Dar es Salaam, Tanzania. Tel.: (255) 022 2123711 Fax: (255) 022 2123702 E-mails: tanzania_dlc@gdlnmail.org Senegal: Centre d'Enseignement à Distance (CED) B.P. 12997 BP 12997 Dakar-Colobane, Senegal. Tel. (221) 33825 0254 / 33825 0379 Fax: (221) 33864 0305 E-mails: senegal_dlc@gdlnmail.org Tokyo Development Learning Center c/o Ms. Takiko Koyama The World Bank Japan/World Bank Distance Learning Partnership Project 10F Fukoku Seimei Building 2-2-2 Uchisaiwai-cho, Chiyoda-ku Tokyo 100-0011 Japan Tel: +81 (0)3 3597 1333 Fax: +81 (0)3 3597 9161 Website: www.jointokyo.orgwww.jointokyo.org Email:jointokyo@worldbank.org