Modiwl ISF-1201:
Islamic Comm Jurisprudence
Islamic Commercial Jurisprudence 2023-24
ISF-1201
2023-24
Bangor Business School
Module - Semester 2
15 credits
Module Organiser:
Debbie Gilliland
Overview
This course aims to provide students with a clear understanding of the key aspects of Islamic commercial jurisprudence and its importance as a foundation of Islamic banking and finance.
Indicative Content:
• Introduction to Shari’ah • Introduction to Usul Fiqh • Hukm Shar’i: Its classification and pillars • The Sources of Shari’ah • Definition of Wealth and Rights and its types • Theory of Ownership • Introduction and formation to ‘Aqd • Classifications, Necessary conditions, and classifications of Aqd • The negative elements in transactions • Sales Contract • Lease contract • Contract of Agency and Deposit • Transactions involving debt • Contract of Partnership
Assessment Strategy
-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.
-good -B- to B+ (60-69%): 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 -A- to A+ (70%+): Outstanding performance. 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.
-another level-C- to C+ (50-59%): 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.
Learning Outcomes
- Apply the principles of Islamic commercial jurisprudence and the knowledge of the theory of contracts to real-world scenarios.
- Distinguish between various juristic opinions on commercial transactions, including analysis of their implications for economic activities.
- Explain the importance of Islamic commercial jurisprudence in economic activities to assess Islamic commercial transactions as an alternative to conventional business practices.
- Identify the prohibited elements in financial and commercial activities to consequently evaluate their impact on business practices.
Assessment method
Coursework
Assessment type
Crynodol
Description
Students are required to research on one of AAOIFI Shari’ah standards and analyse it. Groups will consist of 3-4 members and will need to report their findings in a report (3500 words +/- 10%). Marks in group assignments are allocated based on both individual contributions and the group's overall performance. Each member needs to specify their individual contribution to the project by identifying a specific task or responsibility that was carried out. The group's overall performance is assessed based on, among others: attainment of assignment objectives, flow between sections, overall presentation of the assignment, and quality of references used.
Weighting
40%
Assessment method
Exam (Centrally Scheduled)
Assessment type
Crynodol
Description
Students will take a two-hour-long examination paper. This paper will consist of two sections. The first section will require students to answer short questions to measure the breadth of understanding of various concepts. The second section will require students to answer essay questions. Critically evaluating and discussing relevant theories or topics in depth.
Weighting
60%