Overview

The induction of Riba, Gharar and Maysir; Traditional Islamic financial instruments; The role of the capital market; Risk management and Structured Islamic financial products.

Assessment Strategy

-threshold 50% Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

-good 60% Very good performance. Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

-excellent 70% An outstanding performance, exceptionally able. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

Learning Outcomes

• Apply the principles of Islamic finance in structuring a range of applications from project finance to consumer finance.

• Demonstrate understanding of the contribution of Islamic finance to the growth of the financial sector and broader economic development.

• Explain the distinction between Islamic commercial transactions and conventional ones.

• Understand the economic rationale behind the Islamic injunctions.

• Understand the traditional Islamic financial instruments and their efficiency.