Course Overview
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Course Synopsis
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Islamic financial jurisprudence explains to us permissible and prohibited transactions in Islam. The objective of this course is to enable the students in understanding various Shariah injunctions (Ahkam) relating to economic activity and commercial transactions such as Musharakah, Mudaraba, Salam, Istisna, Muzara’at, Sale, Lease, Service hiring contract etc., Gift, Donation, Waqf, Qarz, Agency, Amanat , Guarantee, Hawalah, Rehn (Pledge) etc. This course will enable the students in apply the principles of Islamic financial jurisprudence to their daily economic and business activities.
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Course Learning Outcomes
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Upon the completion of the course, students should be able to:
- • Demonstrate the importance of the knowledge of Islamic financial jurisprudence in Islamic finance activities.
- • Apply the principles of Islamic financial jurisprudence to their daily economic and business activities.
- • Demonstrate the ability to identify the prohibitive elements in financial and commercial activities.
- • Demonstrate the knowledge of various juristic opinions on financial transactions.
- • Apply Islamic transactions as alternatives to current business practices.
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Course Calendar
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1
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Introduction to Islamic Jurisprudence (Topic No.1-5)
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2
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Islamic Values of Earnings and Business Ethics (Topic No.6-9)
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3
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Riba in Quran (Topic No.10-16)
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4
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Moral and Economic Evils of Riba (Topic No.17-20)
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5
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Prohibition of Riba AL-Fadl (Topic No.21-26)
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6
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Bay Al-Inah and Tawarruq (Topic No.27-33)
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7
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Gharar (Topic No.34-38)
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8
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Gharar (Topic No.39-42)
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9
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Gharar in Insurance (Topic No.43-46)
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Assignment No.1
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10
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Maysir, Qimar, Tasriyah & Tatfeef (Topic No.47-52)
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11
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Nature of Inconsistent Combinations (Topic No.53-60)
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12
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Contract and its Elements (Topic No.61-65)
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13
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Contractual Session (Topic No.66-71)
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Quiz No.1
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14
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Contractual Capacity of Parties (Topic No.72-76)
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15
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Taflis and Coercion (Topic No.77-80)
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16
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Types of Contract (Topic No.81-85)
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Quiz No.2
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17
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Nature of Sale (Topic No.86-89)
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18
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Options in Sale Transaction (Topic No.90-98)
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GDB No.1
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19
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Murabahah (Topic No.99-103)
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20
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Murabahah (Topic No.104-109)
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21
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Salam (Topic No.110-115)
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22
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Salam in Islamic Banks (Topic No.116-119)
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23
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Istisna (Topic No.120-124)
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24
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Istisna (Topic No.125-129)
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Mid Term Exams
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25
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Agency Contract (Topic No.130-136)
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26
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Ijara (Topic No.137-142)
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27
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Ijara (Topic No.143-148)
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28
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Juala (Topic No.149-153)
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29
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Musharakah (Topic No.154-157)
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30
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Musharakah (Topic No.158-161)
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31
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Musharakah (Topic No.162-165)
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Quiz No.3
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32
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Diminishing Musharakah (Topic No.166-170)
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33
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Mudarabah (Topic No.171-174)
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34
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Mudarabah (Topic No.175-179)
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35
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Kafalah (Topic No.180-186)
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36
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Bank Guarantee and Letter of Credit (LC) (Topic No.187-190)
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37
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Rahn (Topic No.191-198)
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38
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Rahn (Topic No.199-203)
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39
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Hawalah (Topic No.204-209)
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40
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Qarz (Topic No.210-213)
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41
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Impact of Inflation on Loan (Topic No.214-217)
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42
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Sukuk (Topic No.218-221)
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43
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Types of Sukuk (Topic No.222-229)
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44
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Waqf (Topic No.230-239)
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45
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Takaful and Its Types (Topic No.240-246)
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Final Term Exams
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