Finance
Approved course information last updated: 5 months, 3 weeks ago
Pre-requisites: None
Requisite To: None
Lab Session:
This introductory course on islamic finance & investment focuses on pillars and instruments of shari‘ah-compliant transactions. It starts by reviewing the foundations of islamic finance and its historical development. We will discuss islamic economic thought and highlights its pertinence for islamic finance, and explains the significant elements of islamic law and prohibitions. Addresses the use of contacts in structuring islamic finance products, and touches on regulatory issues. Analysis shari‘ah-compliant transactions like musharaka, mudarabah, murabaha, salam, istisnaa, ijara. Review the fundamentals of islamic investing and compared with its conventional counterparts. It presents the basic concepts of corporate governance for islamic financial institutions. The discussion of these issues involves theoretical concepts, policy implications and why transaction is prohibited or permissible in islamic commercial jurisprudence. The primary objective of the course is to familiarize the student with the basics of islamic financial management, including the objectives, tasks, and decisions made by finance managers in islamic-oriented organizations.
- Explain the basic principles, theory & operation of islamic banking and finance.
- Explain how islamic financial transactions (musharaka, mudarabah, murabaha, salam, istisnaa, ijara) are structured.
- Differentiate between islamic financing and conventional financing by identifying the products and evaluate the performance of islamic banks.
- Demonstrate how sukuks are structured & explain how they are different for conventional bonds
- Articulate the link between islamic banking products and economic development in the light of the maqasid al-shari'ah
- Analyse current issues and problems faced by islamic banks
- Identify the opportunities that islamicfinance may bring in the financial services industry & its current and future impact on global financial industries
- Engage in the process of islamic finance innovation
- Understand the ethical issues that may occur and propose ethical solutions. (lg1)
- Develop expertise in applying financial theory to the types of problems that arise in islamic finance. (lg2, lg5)