Module ASB-4423:
Islamic Finance

Module Facts

Run by Bangor Business School

15.000 Credits or 7.500 ECTS Credits

Semester 1

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.

Course content

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 Criteria

threshold

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

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

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

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

  2. Understand the economic rationale behind the Islamic injunctions.

  3. Understand the traditional Islamic financial instruments and their efficiency.

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

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

Assessment Methods

Type Name Description Weight
Assignment 40.00
Exam 60.00

Teaching and Learning Strategy

Hours
Seminar

Class discussion and case studies.

 10
Lecture

Lectures introduce the key concepts. Seminars and tutorials involve class discussions and case studies.

 20
Private study

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.

 120

Transferable skills

  • 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:

Optional in courses: