About Course
The course has been designed to enable the students to understand and explain the philosophy, principles and operations of Islamic finance including Islamic banking, Islamic financial instruments and Takaful and how they are different from the conventional banking and financial system.
Course Content
Module 1
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Chapter 1 Introduction: Finance as a Business; Meanings of finance and financial system; Objectives of Business and Finance in Islam; The concept of intermediation and its basis in the conventional and Islamic framework
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Chapter 2 Philosophy of Islamic finance; Riba, Qimar / Maysir and Gharar and how their prohibition affects various businesses and contracts
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Chapter 3 Introduction to various categories of contracts, law of contracts, Qard and Dayn in Islamic finance, Implications of Trade, Lease and Shirkah based contracts
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Chapter 4 Takaful: Need, Bases and Models
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Chapter 5 Shirkah based modes – Musharaka and Mudaraba;
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Chapter 6 Workshop on deposit management; Ijarah – lease based financing
Module 2
Module 3
Course Related Books
Exam
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