Run by Bangor Business School
15 Credits or 7.5 ECTS Credits
Organiser: Mr Mohamed Asaria
Overall aims and purpose
To develop a critical awareness of theoretical and practical approaches to Islamic insurance. The module aims to outline the operational modes and practice of Islamic insurance; analyze the nature and principles of Islamic insurance; the structure of Islamic insurance markets; and finally to highlight constraints and opportunities for Islamic insurance and Islamic insurance accounting.
Main features of Islamic contracts relating to insurance (Takaful); Comparison of Islamic and conventional insurance business; Islamic insurance operations in different countries; Managerial and corporate governance aspects relating to Islamic insurance firms and role of Sharia board; Management and underwriting policies of Islamic insurance firms; Limits and opportunities for Islamic insurance; Ethical framework under which Islamic insurance is conducted.
thresholdNo 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.
goodMuch 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. High Standard: 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.
excellentAn 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.
- Demonstrate an understanding of the objectives and concepts of Islamic insurance.
- Understand the nature of different Islamic insurance contracts.
- Understand how Islamic insurance markets differ in various countries.
- Compare and contrast the features of conventional and Islamic insurance business.
- Understand key concepts relating to the regulation and accounting treatment of Islamic insurance.
- Analyse, summarise and synthesise independently researched academic and professional studies on Islamic insurance.
Teaching and Learning Strategy
|20 hours of lectures, delivered in four blocks of 5 hours spread over two days.|