ISLAMIC FINANCE & BANKING
This course offers viable and innovative models for investment and finance as a serious alternative to conventional financial systems. This program focuses on Islamic banking within the dynamic market conditions with special emphasis on the integration of business and Islamic banking, knowledge to promote strategic decision making, and the applicability of these concepts in organizations.
Islamic Economics & Society
This course introduces students to the Islamic World View highlighting the differences between the conventional, i.e. western, view of the economy, business and finance and the “way of life” as governed by the “shariah”. Amongst the topics to be discussed include “Maqasid al Shariah”, Islamic Economics, as well as Roles, Purposes and Duties of businesses as laid out in Islam. The course will also provide an overview of Finance in Islam and accordingly cover, in a macro manner, key topics such as Riba and its prohibitions, Islamic Currencies, Islamic Business Contracts and Business Ethics and Governance in accordance with Islam Principles.
Fiqh Muamalah in Islamic Banking and Finance
This course discusses in detail the topic of Islamic Business Contracts and its application in today’s world of Islamic Banking and Finance including the concepts of Mudharabah, Musharakah, Murabahah, Istisna, Salaam and Takaful, as well as derived concepts of Musharakah Mutanaqisah, Tawarruq and Bay-Al-Inah. Additionally, students will be exposed to Sharia-compliant products and the practical issues and challenges faced by Islamic Banking practitioners in the propagation, implementation and management of Islamic Finance in Malaysia and at the Global levels.
Islamic Financial Systems and Markets
This course provides the opportunity for students to enhance both theoretical and analytical knowledge in the basic components constituting the Islamic Financial Systems, namely Financial Markets and Financial Institutions, as practiced in Malaysia as well as in various Islamic Countries around the world. Topics discussed include the Global Financial System, Functions of Financial Markets and Institutions, Islamic Financial Markets – including Functions, Organisations, Mechanism, History and Types of Islamic Financial Institutions (IFIs), Business Scope and Products of IFIs including similarities and differences with Conventional Banking Products and Services.
Islamic Banking Products and Operations
This course explores the types of Islamic Contracts utilised by Malaysian Islamic Financial Institution (IFIs) to provide customers with Shariah Compliant products and services in safeguarding and enhancing wealth, facilitation of financial transactions as well as provision of credit and investment opportunities for individuals as well as business entities. An integral part of the course will be discussions on the challenges faced by Islamic FIs in complying with Shariah Requirements and the differences between Conventional and Islamic Financial Products.
Islamic Capital Market
This course provides students an understanding of the Islamic Capital Market as practiced in Malaysia and globally. Detailed analysis will be made on security valuation techniques to enable investors to adopt investment strategies in line with investor’s risks / returns objectives where concepts and theories such as Capital Market Theories, Price Arbitrage Theories, Investment Performance Valuation Theories and Portfolio Development and Management Theories will also be accordingly explored. Finally, investments in Islamic Equities, Islamic Bonds and Sukuk will be examined in the areas of risk analysis, valuation and management, amongst others.
Islamic Wealth Management
This course provides an overview of Islamic Wealth Management (IWM) in a macro perspective and discussion on the difference between Deposits and Investments which include exploring the boundaries of Shariah-compliance for deposits and investments respectively. Additionally, relevant Islamic Concepts such as Sedekah, Zakat and Waqf will be examined from the IWM’s perspective i.e. wealth to be managed in a manner which promotes broad-based and equitable distribution of wealth including how to enhance the effectiveness of such products / instruments towards poverty eradication – not only for Asnafs but also for other categories of the needy.
This course exposes Students to the basic concepts of Takaful, Shariah principles behind Takaful, its early history and recent developments leading to Takaful being recognized as a modern mainstream financial product. The course will also discuss the developments of various Takaful Models and its differentiation with the Conventional Insurance in key concepts in Business Development such as Agency Business and Bank assurance as well as the areas of Product Development and Underwriting.