Skip to main content


LAW8544 : Islamic finance: theory and practice (Inactive)

  • Inactive for Year: 2022/23
  • Module Leader(s): Dr Abdul Karim Aldohni
  • Owning School: Newcastle Law School
  • Teaching Location: Newcastle City Campus
Semester 1 Credit Value: 20
ECTS Credits: 10.0


The module is designed to the provide the students with comprehensive understanding of the subject of Islamic finance by addressing the theory and practice of Islamic finance. In its first part, the module introduces the students to Islamic economic theory where it draws on a host of socio-economic concepts that have different interpretation of that of conventional economic theories. The topics will give students an insight into a unique mixture of religious, social and economic concepts and how they manifest in Islamic finance. In the practice part of the module, the topics would examine the governance of Islamic financial institutions and their products within the existing legal and regulatory framework.

Outline Of Syllabus


- Islamic economic theory and its genesis in Sharia.
- Islamic economic theory in the context of other conventional economic theories, critical examination of key socio and economic theory.


- the governance of Islamic finance institutions.
- the key Islamic finance products and their legal and regulatory governance.

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion601:0060:00N/A
Structured Guided LearningAcademic skills activities61:006:00MCQ – for knowledge testing
Scheduled Learning And Teaching ActivitiesSmall group teaching221:0022:00N/A
Scheduled Learning And Teaching ActivitiesDrop-in/surgery41:004:00Q&A sessions to allow for all students to be able to ask questions regarding module content
Teaching Rationale And Relationship

The teaching methods have been adapted for delivery?in?the post-COVID environment?and?are based on?the?presumption that?in person?lectures,?seminars?and in-person drop-in sessions?will?be possible?but that this shall?need to be supplemented?by?making?alternative arrangements under ‘FLEX’ in case of the possibility?of more limited possibilities for?on?Campus?teaching).

Assessment Methods

The format of resits will be determined by the Board of Examiners

Description Length Semester When Set Percentage Comment
Written Examination1351A7024 hr take home exam
Other Assessment
Description Semester When Set Percentage Comment
Oral Examination1M30Presentation
Assessment Rationale And Relationship

Oral presentation: allows to develop oral presentation and research skills and test students understanding of the chosen materials for the presentation.

Take home exam: allows to test the students understanding, critical analysis and research skills through a mix of problem based and essay questions.

Reading Lists