MIN 420 – Islamic Finance and Banking
Syllabus
• Ethical, SRI and Faith Perspectives on Economics
• From Islamic Economics to Islamic Banking
• Evolution of the Muslim Schools of Jurisprudence of Commerce
• Islamic Financial Contracts – Origin and Evolution
• Financial Intermediation – the Islamic Banking Model
• Liquidity Management for Islamic Financial Institutions
• Islamic Asset Management – Savings, Investments and Capital Markets
• Development of Shariah-compliant Asset Classes
• Corporate Governance of Islamic Financial Institutions
• Shariah Governance of Islamic Financial Institutions
• Regulation of Islamic Financial Institutions
• Risk Management of Islamic Financial Institutions
• Accounting and Taxation Issues
• Contemporary Issues and Challenges in Islamic Financial and Banking
Learning, Teaching and Assessment Strategy
Assessment Modes
Formative lecturer and peer feedback will be provided in seminars. One-to-one consultations with staff are available during office hours. Summative assessment will consist of progressive tests based on subject areas covered (20%), two individual assignments (1500 words each) (20%) and a major piece of group coursework of 6,000-10000 (60%). Students will be assigned to groups for undertaking a detailed coursework from a possible five areas. These topics will enable students to examine a particular area in detail and apply some of the skills they are developing to practical situations. Group work will allow students to develop these topics using a combination of shared skill sets.
Assessment Weighting
Individual coursework: 60%
Progressive Tests: 20%
Review Activity: 20%
Learning materials
Core readings
Askari, H. Et al. (2015) Introduction to Islamic Economics: Theory and Application, John Wiley & Sons
Balala M.H (2011), Islamic Finance and Law – Theory and Practice in a Globalized World, I.B. Tauris
Chapra, M.U (2014) Morality and Justice in Islamic Economics and Finance, Edward Elgar Publishing Limited.
El Diwani T eds. (2010), Islamic Banking and Finance – What It Is and What It Could Be, 1st Ethical Charitable Trust, UK
Hassan M.K and Mahlknecht M eds. (2011), Islamic Capital Markets – Products and Strategies, John Wiley & Sons
Iqbal M. and Khan T (2005), Financial Engineering and Islamic Contracts, Palgrave Macmillan, UK
Iqbal Z and Mirakhor A (2011), An Introduction to Islamic Finance – Theory and Practice, John Wiley & Sons
ISRA (2011), Islamic Financial System – Principles and Operations, International Shari’ah Research Academy for Islamic Finance
Naqvi S.N.H (2010), Ethics and Economics – An Islamic Synthesis, The Islamic Foundation, Markfield, UK
Naqvi S.N.H (2003), Perspectives on Morality and Human Well-Being, The Islamic Foundation, Markfield, UK
Tripp C (2006), Islam and the Moral Economy – The Challenge of Capitalism, Cambridge University
