Islamic Banking & Finance
Rhedir gan Bangor Business School
15.000 Credyd neu 7.500 Credyd ECTS
Semester 1 a 2
Trefnydd: Mr Mohamed Asaria
The aim of this module is: 1. To provide participants with an objective and professional assessment of Islamic Banking theory and practice. 2. To provide participants with an understanding of the core principles of Islamic finance, the working of Islamic financial markets and financial instruments. 3. To identify the salient features of Islamic banking as a model for financial intermediation, and develop comparisons with the conventional banking model. 4. To examine the role played by Islamic finance in the wider process of economic and financial development. 5. To relate an advanced programme of academic study to practical issues in financial intermediation and risk management, practical investment, deposit and fund management issues. 6. To develop participants’ ability to advise financial institutions or other clients of the measures required to ensure Shar’iah compliance. 7. To equip participants for a career in an Islamic financial institution or in a position that requires an understanding of the working of Islamic financial markets or instruments.
The module is divided into three parts. The first part of the module will examine the operational features of Islamic banks and financial institutions, focussing on their performance and how they compete with conventional interest-based banks. IUT them moves on to examine issues relating to financial contracting, instruments and various intermediation issues. The second part of the module focuses on the role of the capital market in providing Islamic financing, and highlights financial engineering issues and risk management features. Finally the module will outline contemporary challenges for Islamic banking business.
c- to c+ (50-59%): marginal failing yet compensatable work 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.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.• Knowledge of key areas/principles only; • Weaknesses in understanding of main areas; • Limited evidence of background study; • Answer only poorly focussed on question and with some irrelevant material and poor structure; • Arguments presented but lack coherence; • Several factual/computational errors; • No original interpretation; • Only major links between topics are described;
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.
Understands most but not all o Evidence of background study o Focussed answer with good structure o Arguments presented coherently o Mostly free of factual errors o Some limited original interpretation o Well known links between topics are described o Problems addressed by existing methods/approaches o Good presentation with accurate communication
Excellent standard: 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.
Critically analyse the importance of Islamic banking and finance in a contemporary context
Develop a questioning and evaluative understanding of Islamic financial services' characteristics and where these services are appropriately and ethically employed.
Explain the distinction between Islamic principles and conventional practices based on interest
Understand the implications of the traditional Islamic concepts of musharakah and mudarabah for the practical commercial operations of banks and financial institutions.
Design financial instruments that satisfy the requirements for Shar’iah compliance, and the correct methods for their application.
Demonstrate understanding of the contribution of Islamic finance to the growth of the financial sector and broader economic development.
Demonstrate the ability to make informed judgements and decisions in the context of Islamic banking and financial markets;
Strategaeth addysgu a dysgu
At least 5 hours of lectures provided on line and some lectures also provided in the class room for those students attending the bi-annual teaching sessions at the management centre - all lectures are recorded. These lectures are also supplemented by vidoes introducing and summarising the different elements of the module which total to a further hour of discussion
Three seminars of one hour are provided through the web-ex system. Three seminar web-ex sessions are provided to allow students to engage with the materials in a live internet based session over the Web-ex platform this is designed to encourage student interaction and discussion of study materials and module aims.
This module is to be delivered in blended learning format. Students will receive a detailed study pack comprising three units of self study. There will be mandatory periods of asynchronous online teaching together with online virtual workshops. Students will also be expected to work together in online groups on pre-assigned topics.
- Llythrennedd - Medrusrwydd mewn darllen ac ysgrifennu drwy amrywiaeth o gyfryngau
- Hunanreolaeth - Gallu gweithio mewn ffordd effeithlon, prydlon a threfnus. Gallu edrych ar ganlyniadau tasgau a digwyddiadau, a barnu lefelau o ansawdd a phwysigrwydd
- Archwilio - Gallu ymchwilio ac ystyried dewisiadau eraill
- Dadansoddi Beirniadol & Datrys Problem - Gallu dadelfennu a dadansoddi problemau neu sefyllfaoedd cymhleth. Gallu canfod atebion i broblemau drwy ddadansoddiadau ac archwilio posibiliadau
- Dadl - Gallu cyflwyno, trafod a chyfiawnhau barn neu lwybr gweithredu, naill ai gydag unigolyn neu mewn grwˆp ehangach
Sgiliau pwnc penodol
- An appreciation of the nature of the contexts in which finance can be seen as operating, including knowledge of the institutional framework necessary for understanding the role, operation and function of markets and financial institutions (e.g. the economic, legal, regulatory and tax environment, both national and international; the firm; the capital markets and the public sector).
- An understanding of financial service activity in the economy, and an appreciation of how finance theory and evidence can be employed to interpret these services (for example, information asymmetry, adverse selection and moral hazard could be employed to analyse the fundamental nature of services, such as insurance, pensions, bank lending and consumer credit, and also explore fundamental problems arising in such financial service provision. Efficient market hypothesis could be used to explore evidence for fund manager performance and the effectiveness of equity and bond saving services).
- Problem solving and critical analysis: analysing facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
- Conceptual and critical thinking, analysis, synthesis and evaluation.
A module reader supplied to students
Textbook (supplied to students) An Introduction to Islamic Finance: Theory & Practice, Zamir Iqbal & Abbas Mirakhor, Wiley Islamic Finance - Why it Makes Sense, Draud Vicary Abdullah & Keon CheeMarshall Cavendish International (Asia)
Cyrsiau sy’n cynnwys y modiwl hwn
Opsiynol mewn cyrsiau:
- N3BN: MBA Chartered Banker year 1 (MBA/CBDL)