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◄Faculty of Economics and Administration►

(5) Developmen. San Francisco: Institute of
Contemporary Studies Press.
(6) Elliot, J.A (1994). An Introduction to Sustainable
Development: The Development World. London:
Routhledge
(7) Turner, R.K., Pearce, D., Bateman, I. (1994).
Environmental Economics An Elementary Introduction.
New York: Harvester Wheatsheaf.
(8) Bowers, J. (1997). Sustainablity and Environmental
Economics – An Alteranative Text. Essex: Addison
Wesley Longman Ltd.
(9) Atkinson, G. et al. (1997). Measuring Sustainable
Development – Macroeconomics and the Environment.
Chelthenham: Edward Elgar Publishing Ltd.
(10) Tientenberg, T. (2001). Envoronmental Economics and
Policy. Essex: Addison Wesley Longman Ltd

EXGA6309 ISLAMIC BANKING AND FINANCE

Learning Outcomes At the end of the course, students are able to:
(1) Apply the underlying concepts and principles of
Islamic banking and finance;
(2) Examine the differences between the Islamic and the
conventional financial systems; and
(3) Analyse issues and policies pertaining to the
development of Islamic banking and finance in theory
and practice.
Synopsis of Course This course gives an overview of the Islamic financial
Contents system which comprises the Islamic financial institutions
and financial markets. The course starts with a discussion
of the fundamentals of Islamic banking and finance; the
rationale, underlying concepts and principles. It will then
examine issues pertaining to the development of Islamic
financial institutions and financial markets. Course topics
include the prohibition of riba, profits, Islamic contracts of
exchange, Islamic banking in theory and practice, Islamic
insurance (takaful), Islamic money market, Islamic equity
market, Islamic derivatives (sukuk) and regulatory issues.
Assessment Methods Continuous Assessment: 50%
Final Examination: 50%
Main Reference (1) Saiful Azhar Rosly (2005), Critical Issues on Islamic
Banking and Financial Markets, Dinamas Publishing.
(2) Iqbal,Z & Mirakhor A (2007), An Introduction to
Islamic Finance, John Wiley & Sons Singapore.
(3) Kamal Khir, Lakesh Gupta & Bala Shanmugam
(2008), Islamic Banking: A Practical Perspective,
Pearson Longman Malaysia.
(4) Sudin Haron, Bala Shanmugam & Nafis Alam (2007),
Islamic Financial System: A Comprehensive Guide,
Insight Network Malaysia.
(5) Chapra, M. Umer (1985), Towards a Just Monetary
System, The Islamic Foundation.
(6) Zeti Akhtar Aziz (2005), Islamic Banking and Finance
Progress and Prospects Collected Speeches:2000-

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