Course Synopsis

1. ISLAMIC FINANCIAL SYSTEM:

An over view of Islamic financial system, Financial system efficiency, Financial product and services, Financial market: Primary and secondary market included money and capital market, spot and option market as well as foreign exchange market. Financial system Ethics: freedom from Coercion, riba, Gharar, Al Qimar dan Al-maysir, It also included ”A Blueprint” of Islamic financial system of Islamic Banking, Islamic Takaful and Islamic capital market.

2. PRINCIPLES AND PRACTICES OF ISLAMIC BANKING:

Concepts and functions of IFIs, comparison between conventional and Islamic Fis, products in IFIs, challenges to IFIs, products, models, and issues in Islamic finance.This course will provide students with an advanced appreciation of financial architecture that is needed for stability of Islamic financial institutions. It will provide students with an advanced understanding of into regulatory concerns, governance issues and tools of risk management for Islamic financial institutions.

3. FIQH FOR ISLAMIC BANKING AND FINANCE:

Introduction of important basic concepts in Fiqh-ul-muamalah. Discussion on theory of wealth, rights, ownership and theory of contract (aqd) in Islamic Fiqh and relate them to Islamic business and management practices. Discussion on current issues in economic and business practices and probable Islamic solutions to the issues. Critical evaluation of Islamic Banking and Financial Institutions in Malaysia and other Islamic countries.

4. MAQASID SHARIAH:

This course will provide students with an advanced understanding of the Islamic vision of human development and how the objectives of Shariah influence the nature, principles and practices of Islamic economics and finance.

5. MANAGEMENT OF ZAKAT, WAQAF AND SADAQAH FUNDS:

This course will provide students with an advanced understanding of the Islamic approach to management of mal. Arising from zakat, waqf, and sadaqah with a view to using the funds for poverty alleviation, the operational issues and challenges facing not-for-profit charity-based institutions and for-profit Islamic microfinance institutions.

6. ISLAMIC CAPITAL AND FINANCIAL MARKET:

This course introduces students to the Islamic Capital market system, which is the complementary system to Islamic finance and banking. The students would be exposed to components of Islamic financial markets – the Islamic capital and money markets in particular – and their products, processes and regulations, the various concepts and instruments in the Islamic capital market, its features and functions, and thus its importance as an integral part of the Islamic economic system.

7. Research Methodology:

The course will discuss the process of knowledge discovery using scientific research process. The general scientific approaches (primarily induction and deduction) are penetrated and connected to different types of research strategies. Further, the potentials and limitations of quantitative and qualitative methods are discussed. The course also includes activities that develops the student’s ability to find information in databases, to use different types of information in an appropriate manner, and to evaluate this information and the sources according to relevant criteria.

8. PRINCIPLES AND PRACTICES OF ISLAMIC INSURANCE:

This course will provide students with an advanced understanding of Islamic cooperative insurance or takaful as distinct from conventional insurance and various issues pertaining to organizing and operating a takaful company.