wealth management banking
DESCRIPTION
Wealth Management course is designed to understand fundamentals of Islamic Finance and Products. This will also give all attendees the skills to gain more leads; create higher value solutions; close more deals and get more referrals.TRANSCRIPT
Wealth Management Banking
IN HOUSE TRAINING PROGRAM
OUTLINE
PROGRAM SCOPE:
HOW THIS COURSE WILL ASSIST?
The objective of the program offered by Sharia House is to educate and train
banks’ RM’s in order to get 360 degree on Wealth Management products &
services to ensure that the RM’s are self-equipped with knowledge and technical
skills to understand their area of work to meet industry challenges and market
expectations by providing QUALITY service.
COURSE DESCRIPTION
Wealth Management course is designed to understand fundamentals of Islamic
Finance and Products. This will also give all attendees the skills to gain more leads;
create higher value solutions; close more deals and get more referrals. Course is
developed around the followings;
Introduction to Islamic Finance& Products
Motivate customers to conclude deals
Increase your ability to stay resilient when under price pressure
Improve your competitive differentiation
Enhance your ability to open up client needs
Successfully negotiate financial deals
Improve your closing
Gain techniques, including the Harvard Technique, that will assist you
in your role as a private banker
Training Methodology
In order to engage diversified group of participants and ensure learning of the
comprehensive concepts to every participant, we have developed diversified and
tested training techniques that include:
- Discussion based interactive class room sessions
- Case Studies
- Group Discussion/ Class Exercises
- Presentations
TRAINING COURSE OUTLINE
DAY – 1
“Introduction to Islamic Finance"
Topic 1: Overview of Islamic finance, main prohibitions and understanding of
the elements and types of the contract.
Session 1 introduces the fundamentals of Sharia for Islamic Finance. It
will highlight the sources of Sharia, and its objectives. Difference
between trade and usury is particularized in terms of application of
Sharia principles in the conduct of Islamic banking. It will highlight
the main prohibited elements in Islamic transactions and will discuss
the norms of ethics in Islamic financial system.
Introduction Sharia and its Objectives
Sources of Sharia Tenets
Objectives (Maqasid) of Sharia
Prohibition of Riba
Prohibition of Gharar
Prohibition of Maisir/Qimar (Games of Chance)
Topic 2: Philosophy and features of Islamic Finance
Session 2 will develop the understanding of basic philosophy of
Islamic finance and rulings on avoidance of elements in Islamic
Finance.
In this session we will discuss the basic features of Islamic finance
directly affecting the products, instruments, institutions and markets
in the framework of business and finance. This includes avoiding
interest, involvement in genuine trade and other business, Kharaj bi-
al-Daman (Risk and Return), and other requirements for profit
entitlement in various kinds of businesses, money earning money
versus risk-based business and their impact on banks, depositors and
the fund users.
The Philosophy of Islamic Finance
Debt versus Equity
Islamic Banking: Business versus Benevolence
Exchange Rules
Time Value of Money in Islamic Finance
Money, Monetary Policy and Islamic Finance
Topic 3: Islamic Law of Contracts and Business Transactions
Session 3 will develop the understanding of basic concepts about
Wealth, its use and ownership from Islamic viewpoint. It will cover the
sharia’s standpoint on contract, and the basic elements of
contracts. Different transactions have different features that need to
conform to the tenets of the Sharıa. We will comprehensively discuss
Contracts that do not conform to Sharia doctrines or that involve
prohibited elements to have an in-depth understanding of these
elements to avoid invalid contracts.
Islamic banks and financial institutions are dealing in goods by
entering into contracts like sale, leasing, partnership, surety ship,
agency, assignment of debt, and mortgages it will be valuable
discussion in detail.
Maal (Wealth), Usufruct and Ownership
General Frame work of Contracts
Elements of a contract
Broad Rules for the validity of Muamalat
Wadah (Promise) and related matters
Types of Contracts
Commutative Contracts and Non-commutative Contracts
Legal Status of Conditional and Contingent Contracts
Topic 4: Islamic Modes of Finance
This session will cover the Islamic modes of financing that are being
operated across Islamic banks and financial institutions. This will
support the concepts of attendees to further grasp the basic
knowledge of Islamic Finance mechanism and will help in
understanding the advanced knowledge that will be presented in
approaching sessions.
Murabaha and Musawamah
Salam and Istisna (Forward Sale)
Ijarah – Leasing
Shirkah - Diminishing Musharaka
Tawarruq
Istijrar
DAY – 02
“Understanding Private Wealth
Management”
Topic 1: Understanding Private Wealth Management
This course will give an introduction to Wealth Management and will give an in-
depth knowledge on wealth management process. Wealth Management
process will also cover the phases involved in it. This course will emphasize on
understanding the prospects and concerns involved in this sector.
Understanding Wealth Management
Wealth Management Process
Phases in Wealth Management Process
Planning a wealth Management Strategy
Case Study 1
Case Study 2
Implementing and monitoring Wealth Management Plan
Topic 2: Islamic Wealth Management
After understanding the essentials of wealth management, it will be ideal to
understand how Islamic Wealth Management for the reason that it will
complement the whole concept of wealth management. This topic will cover
the prospects and concerns involved in Islamic Wealth Management. More over
we will also cover how Islamic Wealth Management clients differ from traditional
wealth management clients.
Wealth Management Cycle
Drivers for Islamic Wealth Management Growth
Opportunities and Issues in Islamic Wealth Management
Needs of Muslim HNWIs
Position of society and belief in Islamic Wealth Management
Topic 3: Understanding the Islamic Wealth Management Clients
In this sitting we will cover different types of wealth management clients, client
and typical indulgences of the wealthy. This session will provide an insight into
how to acquire their client base and develop products and services to
effectively target these segments. This session will not only help RM’s getting a
deep understanding of clients they are going to target but they will also get to
know what do different clients want from private wealth managers.
Types of clients
Key characteristics of clients
Client Trends
Sources of Clients’ Wealth
Typical Indulgences of the Wealthy
Case Study
What do clients want from private wealth managers
Client Acquisition and Retention
Topic 4: Understanding Clients Psychology
In this sitting we will cover different types of wealth management clients, client
and typical indulgences of the wealthy. This session will provide an insight into
how to acquire their client base and develop products and services to
effectively target these segments. This session will not only help RM’s getting a
deep understanding of clients they are going to target but they will also get to
know what do different clients want from private wealth managers.
Precedent perception on behavioral finance
Clients’ Judgment Biases
Clients’ decision and consequences
Clients’ screening based on their psyche and will
Clients’ goal setting
Types of Clients’ goal
Prioritizing Clients’ goal
DAY – 03
“Communication & Selling Skills
For Wealth Managers”
Course Overview
This course covers the range of soft skills necessary for Sales Force to possess in
order to make first class deal winners. The first part of the course takes Wealth
Managers through a process that they can use in different selling situations and
is based around consultative selling.
The negotiation section will teach participants techniques that are a vital part of
gaining and maintaining business relationships and is designed to help
participants in the development of effective selling & negotiation skills so that
they will achieve successful outcomes.
The presentation takes participants through the process of planning and
execution, with the rationale being to teach the skill of being able to plan and
structure any presentation so the presenter knows that the content meets the
objectives.
Topic 1: Selling Skills
Selling skills will help the RMs to understand the precise technique to execute a
successful sale by keeping the clients’ goals accomplished. This topic will not just
only assist them to productively presenting themselves in front of their consumers
but will also help them to understand how to value the consumers’
requirements. One of the creative techniques RMs will get is that they will be
able to demonstrate their skills by providing customized solutions to their
clientele. This topic will lay the ground work by injecting fact finding skills to
further use them in negotiating with the clients.
The seven step sales process.
Setting customer objectives.
Appreciating customer requirements.
Enhancing the sales presentation.
Handling objections
Handling price objections.
Win/win negotiations.
Closing the sale.
Post call activity
Topic 2: Negotiation Skills
Negotiation skills will assist the RMs to appreciate the Negotiation with their
clients and will also help them to recognize its benefits. This course will establish
the negotiation traits in an efficient way helping the attendees effectively
executing them in practical field. Not only the RMs will be able to negotiate in
an efficient manner but will also be able to get fruitful and profitable results at
the end of the day by learning the art of successfully closing the deal.
Negotiation and its benefits
Qualities of an effective negotiator: the ten quality traits
Preparing for negotiation
Negotiation in action
Closing the deal
Topic 3: Presentation Skills
After Negotiation and selling skills, it will be significant to understand how to
present. One of the important factors that define the successful RMs’ is having
the presentation skills to successfully present in front of their clients in varied
situations. This course will help the attendees to learn how to structure the
presentation based on case to case circumstances. This session will also help the
RMs to develop long relationship with the clients by adopting the right attitude
and confidence. More over this sitting will equip them with proficiency in
language patterns to further improve their presentation.
Outcome identification
Structuring presentations
Building rapport
Language patterns to enhance a presentation
Topic 4: Time Management
This session, Time Management, will focus on how the personnel can develop
approaches and strategies that will enable them to effectively deal with the
time management problems in a variety of contexts. We will classify the current
time management problems and will develop the skills to effectively respond in
all the stages by learning the good time management phases. One of the
significant outcomes of this course will be to build the skills in personnel to avoid
time wastage due to various factors involved in day to day operations.
Identification of Current Time Problems
Essential Stages in Good Time Management
Establishing Good Time Management Practices
Time Wasters
Eleven Time Thieves
Monochromic and Polychromic views of time
Elements of Effective Time Management
DAY – 04
“Islamic Fund Management and
Investments”
Course Overview
This course will explore the key ideology and opportunities of Islamic Wealth
Management which includes Islamic Wealth creation, growth, safety, allocation
and refinement in wealth management cycle. This session will facilitate
individuals to gain knowledge and understand more about the Islamic wealth
management and financial planning from industry specialists with broad range
of knowledge and will be proficient to put them into practice. This session will
also be admirable stage for networking and exchange of practice, thoughts
and outlooks about the industry and services.
Topic 1: Islamic Funds Management and Investment
In this session, we will focus on present industry of Islamic Funds and we will put
technical importance on available avenues for investment. We will discuss the
current scenario and future outlook in the Islamic fund industry and what are the
recent developments. We will also put a light on growth of new Islamic funds
different from already existing in the mass market.
Present Islamic funds Market
Islamic financial instruments available for investments
Growth of new Islamic funds: Islamic Real Estate Investments
DAY – 05
COURSE AGENDA
“WORKSHOP & CERTIFICATION”
Session – 01: Workshop & Case Study
Session – 02: Q&A
Session – 03: Certification
Contact
AFSHEEN SHAIKH
CHAIRMAN
Emirates Towers, Level 41. Sheikh Zayed Road, Dubai, P O Box 31303, UAE
M: +971 (55) 5565980
T: +971 (4) 458 5116
F: +971 (4) 458 5178
EHSAN WAQUAR
CEO
Business Centre, Office No. 701, 7th Floor, Shahre- Faisal Road, Karachi. Pakistan
M: +92 - 300 – 8286191
T: +92-213-4324102
F: +92-213-4324101