Run by Bangor Business School
15 Credits or 7.5 ECTS Credits
Organiser: Mr Alfatih Wiraatmadja
Overall aims and purpose
Aims: To provide participants with an understanding of the core principles of Islamic finance, and the working of Islamic financial markets and financial instruments; and to examine the role played by Islamic finance in the wider process of economic and financial development.
The induction of Riba, Gharar and Maysir; Traditional Islamic financial instruments; The role of the capital market; Risk management and Structured Islamic financial products.
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.
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.
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.
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.
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.
Teaching and Learning Strategy
Class discussion and case studies.
Lectures introduce the key concepts. Seminars and tutorials involve class discussions and case studies.
Students are provided with materials prior to the block teaching. They will be provided with directions for independent study between the block teaching period and the assessment deadlines.
- Literacy - Proficiency in reading and writing through a variety of media
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
- Computer Literacy - Proficiency in using a varied range of computer software
- Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
- Exploring - Able to investigate, research and consider alternatives
- Information retrieval - Able to access different and multiple sources of information
- Inter-personal - Able to question, actively listen, examine given answers and interact sensitevely with others
- Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
- Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
- Self-awareness & Reflectivity - Having an awareness of your own strengths, weaknesses, aims and objectives. Able to regularly review, evaluate and reflect upon the performance of yourself and others
Courses including this module
Compulsory in courses:
- N3BM: MBA Islamic Banking and Finance year 1 (MBA/IB)
- N3DK: MBA Islamic Banking & Finance (with incorp pre-Masters) year 1 (MBA/IB1)
- N3BF: MSc Islamic Banking and Finance year 1 (MSC/IBF)
Optional in courses:
- M1AL: LLM Law and Banking year 1 (LLM/LB)
- N3AD: MBA Banking and Finance year 1 (MBA/BIF)
- N3DG: MBA Banking and Finance (with Incorporated Pre-Masters) year 1 (MBA/BIF1)
- N3BV: MBA Finance year 1 (MBA/FIN)
- N4AJ: MSc Accounting year 1 (MSC/ACC)
- N4AM: MSc Accounting (with Incorporated Pre-Masters) year 1 (MSC/ACC1)
- N4AP: MSc Accounting and Finance (with Incorporated Pre-Masters) year 1 (MSC/ACCF1)
- N4AG: MSc Accounting and Finance year 1 (MSC/ACCFIN)
- N3CT: MSc Finance (with Incorporated Pre-Masters) year 1 (MSC/FIN1)
- N3AJ: MSc Finance year 1 (MSC/FINANCE)
- N3CC: MSc Investment Management year 1 (MSC/IMGT)
- N3CX: MSc Investment Management (with Incorporated Pre-Masters) year 1 (MSC/IMGT1)