Postgraduate

Modules

Modules

LAW8544 : Islamic finance: theory and practice

Semesters
Semester 1 Credit Value: 20
ECTS Credits: 10.0

Aims

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

Theory:

- 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.

Practice:

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

Teaching Methods

Please note that module leaders are reviewing the module teaching and assessment methods for Semester 2 modules, in light of the Covid-19 restrictions. There may also be a few further changes to Semester 1 modules. Final information will be available by the end of August 2020 in for Semester 1 modules and the end of October 2020 for Semester 2 modules.

Teaching Activities
Category Activity Number Length Student Hours Comment
Structured Guided LearningLecture materials82:0016:00A combination of recordings of lecture material and text and directed learning activities.
Structured Guided LearningLecture materials11:001:00Introductory lecture online and familiarisation with the module structure and materials.
Guided Independent StudyAssessment preparation and completion321:0032:00Including individual presentations and take home exam.
Guided Independent StudyDirected research and reading21:002:00N/A
Structured Guided LearningAcademic skills activities61:006:00MCQ – for knowledge testing
Scheduled Learning And Teaching ActivitiesSmall group teaching12:002:00Synchronous small group sessions, online discuss and selection of assessed presentation topics/prep
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:00Synchronous small group ‘seminar’ sessions online.
Scheduled Learning And Teaching ActivitiesDrop-in/surgery101:0010:00Drop in sessions for feedback and queries run via zoom or teams.
Guided Independent StudyIndependent study1201:00120:00Independent study: supplementary, reading
Scheduled Learning And Teaching ActivitiesScheduled on-line contact time51:005:00Canvas discussion board Q&A
Total200:00
Teaching Rationale And Relationship

Online lectures materials the module presents a new set of concepts and materials, which some are of a novel and complicated nature; therefore, the recorded lectures and guidance to lecture materials are designed to provide the required background and explanation of these issues in order to allow the students to advance their independent research and develop the expected level of knowledge and understanding.



Small group teaching (seminars) the seminars are structured to provide an in-depth analysis of the topics that were introduced in the lectures, which will be led by the students and steered by the lecturer, and to check on the students understanding of the key the issues in question. Further, the seminars are designed to develop their analytical and critical skills through a variety of problem based and critical analysis questions. Seminars also help develop their oral presentation skills. The presentation preparation seminar will allow for feed forward to help prepare for the assessed presentation and feedback will also be provided.



Drop-in sessions these are opportunities for more in-depth and broader questions about the subjects examined in lectures and seminars, which will take place in the form of additional scheduled online contact hours.



Q&A and MCQs will support the lecture/seminar materials by allowing students to check their knowledge and understanding of areas by attempting MCQs. Q&A’s will be via a discussion board.



Guided Independent Study is to be divided between preparing for lectures, seminars, presentation and consolidation, and revision.

Assessment Methods

Please note that module leaders are reviewing the module teaching and assessment methods for Semester 2 modules, in light of the Covid-19 restrictions. There may also be a few further changes to Semester 1 modules. Final information will be available by the end of August 2020 in for Semester 1 modules and the end of October 2020 for Semester 2 modules.

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

Exams
Description Length Semester When Set Percentage Comment
Written Examination1201A70N/A
Oral Presentation151M30N/A
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

Timetable