Subjects 2007
Islamic Banking and Finance 730737
- Credited Courses: Graduate Diploma in Asian Law 726; Graduate Diploma in Asian Law 726; Graduate Diploma in Banking and Finance Law 968; Graduate Diploma in Banking and Finance Law 968; Graduate Diploma in International Law 323; Graduate Diploma in International Law 323; Graduate Diploma in International Law 323; Graduate Diploma in Islamic Legal Studies 892; Graduate Diploma in Islamic Legal Studies 892; Graduate Diploma in Transnational Law 333; Graduate Diploma in Transnational Law 333; Graduate Diploma in Transnational Law 333; Master of Banking and Financial Services Law 526; Master of Banking and Financial Services Law 526; Master of Banking and Financial Services Law 526; Master of Law and Development 635; Master of Law and Development 635; Master of Law and Development 635; Master of Laws (LLM) 502; Master of Laws (LLM) 502; Master of Laws by Coursework (LLM) 502; Master of Laws by Coursework (LLM) 502; Master of Laws by Coursework and Minor Thesis 502; Master of Legal Systems 890; Master of Legal Systems 890; Master of Legal Systems 890; Master of Public and International Law 511; Master of Public and International Law 511; Master of Public and International Law 511
Objectives
A candidate who has successfully completed the subject should:
- Demonstrate a firm grasp of the history and development of Islamic banking
- Be familiar with the basic principles and rules of Islamic banking
- Understand the differences between Islamic banking and conventional interest-based banking systems
- Understand the basic structure and operation of the key financial instruments used in Islamic banking
- Be able to apply the knowledge gained to selected case studies
- Be able to identify some of the key controversies in Islamic banking.
Syllabus
Principal topics will include:
- Role of Islamic law in Islamic economic and financial institutions
- History of Islamic banking
- Relationship between finance and Islamic law
- Basic principles of Islamic economics
- Differences between Islamic banking and conventional interest-based banking systems
- Framework of Islamic finance
- Nature of Islamic banking and finance
- Concept of money in Islam
- Prohibition of interest
- Ethical dimension of Islamic banking
- Chief financing mechanisms used in Islamic banking
- Supervision and oversight of Islamic banks
- Reading and understanding contracts and financial statements of Islamic banks.
