Islamic Economics & Finance
Course Learning Outcome
After completion of the course, In-Shaa-Allah, the students can
- Understand the necessity of keeping the economic activities clear and the importance of doing those according to the Shariah alongside performing Namaz (Salat) and Roja (Sawm). They will also be able to make others understand about these issues.
- Feel the necessity of gaining knowledge on Halal-Haram and Islamic Economics.
- Identify the most common sources of Haram income and understand the severity of negative sides of those income.
- Point out the Haram Income sources which are common in our society and regarded as Halal.
- Identify the most common and the best Halal income sources.
- Suggest people with alternatives to Haram income sources which are common in our society and help people (especially who are involved in Haram income) by guiding them for earning in Halal ways.
- Have a clear concept on “Riba” (Interest).
- Moreover, they will be able to understand and demonstrate others about the topics taught to them.
Marks Distribution
The course will be assessed out of 100 Marks for Attendance, Home Work Assignments, & Final Exam.
| Attendance | 20 Marks |
| Home Work Assignments | 10 Marks |
| Final Exam | 70 Marks |
Attendance:
There will 12 classes in the course. A student should attend all the classes.
Home Work Assignments:
Student will be provided with some Home Work Assignments in every classes which he should submit in the next class.
Final Exams:
There will a final exam which will take in two different parts after the completion of all the classes of the course. The 1st part of the exam will cover the syllabus of the first 6 classes and the 2nd part of the exam will cover the syllabus of the last 6 classes. Each part of the exam will account for 50 Marks and so in total of 100 Marks Final Exam which will then be converted into 70 Marks. The question pattern of the final exam is given below:
Question Pattern for Final Exam:
- MCQs
- Case Study
- Short Questions & Answers
- Broad Questions & Answer
Grading System
The following Grading System will be used for this course:
Grade | Grade Point | Marks (%) |
| Maqbul (Passing Grade) | 2.00 | 46-55 |
| Jayeed (2nd Division Grade) | 2.50 | 56-65 |
| Jayeed Jiddan (1st Division Grade) | 3.00 | 66-75 |
| Mumtaz (A+ Grade) | 4.00 | 75+ |
Certification
A certificate will be awarded after successfully attending the lectures of course as well as obtaining the Passing Marks.
Course Features
- Lectures 49
- Quizzes 0
- Duration 24 hours
- Skill level All levels
- Language English
- Students 35
- Assessments Yes
Class # 1
Class # 2
Class # 3
Class # 4
Class # 5
Class # 6
- • Introduction to Mudarabah Contract (Venture Capital) and its Types
- • Islamic Investment System: Shirkat (Partnership Business)
- • Some Basic Principles for Implementing Mudarabah Contract
- • Introduction to Musharakah Contract and its Importance
- • Fundamental Principles of Musharakah, Profit-Loss Distribution System in Musharakah and Importance of Musharakah in Modern Finance
Class # 7
- • Introduction to Ijarah (Hiring & Leasing) and its Fundamental Classification
- • Shari’ah Principles for Job (Hiring of Persons) in the Light of AAOIFI Shari’ah Standard; Shari’ah Rulings of Private Employee & Shared Employee
- • Shari’ah Principles for Rented Substance, Sub-Lease, Head Lease, Ijarah Bond, Sale and Lease Back, Possession, Advance Money etc.
- • Introduction to Ijaratul Manfa’at (Rent & Lease) and Fundamental Principles of it
Class # 8
Class # 9
- • Introduction to Contract and its Shari’ah
- • Introduction to Izab-Kabul (Offer & Acceptance)
- • The Principles of Buy-Sell Contract in Islam
- • Imposing Conditions on Buy-Sell Agreement and their Shari’ah
- • Safaka-fi-Safaka
- • Introduction to Baiya-fi-Baiya (Two Contracts in One Contract) and its Rulings
Class # 10
Class # 11
Class # 12
