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ISLAMIC BANKING & FINANCE


              EIB3009          ISLAMIC BANKING & FINANCE
              3 Credits

              Pre-requisite    None

              Learning         At the end of the course, the students are able to:
              Outcomes
                               1. explain the philosophy, underlying concepts and principles of Islamic banking
                                  and finance;
                               2. distinguish  between  the  Islamic  financial  system  and  the  conventional
                                  financial system from the socio-economic and legal perspective; and
                               3. analyze issues pertaining to the development of Islamic banking and finance
                                  in theory and practice.

              Synopsis         The course starts with an introduction to the philosophy, underlying concepts and
                               principles  of  Islamic  banking  and  finance  followed  by  an  overview  of  the
                               development  of  Islamic  banking  and  finance  in  theory  and  practice.  Topics
                               include unlawful contracts in Islam, prohibition of interest, lawful contracts based
                               on profit, legal issues in Islamic banking products, conflict of court’s jurisdiction,
                               takaful, Islamic stock market and derivatives (sukuk).

              References       1. Ismail  Abdul  Ghafar  (2010),  Money,  Islamic  Banks  and  the  Real  Economy,
                                  Singapore: Cengage Learning Asia Pte Ltd.
                               2. Mohd  Daud  Bakar  and  Engku  Rabiah  Adawiah  Ali  (Ed)  (2008),  Essential
                                  Readings in Islamic Finance, Kuala Lumpur: CERT.
                               3. Mei Pheng Lee and Detta Ivan Jeron (2007), Islamic Banking & Finance Law,
                                  Kuala Lumpur: Pearson Malaysia Sdn Bhd.
                               4. Rosly, Saiful Azhar (2005),  Critical Issues on Islamic Banking and Financial
                                  Markets, Kuala Lumpur: Dinamas
                               5. Radiah Abdul Kader (2001) Ekonomi Islam, Kuala Lumpur: Vision
                               6. Relevant Statutes

              Soft Skills      CS1, CS2, CS3
                               CT1, CT2, CT3
                               LS1, LS2

              Assessment       Continuous Assessment   : 50%
                               Final Examination             : 50%











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