SOAS University of London

School of Finance and Management

Islamic banking and finance

Module Code:
15PFMC074
Credits:
15
Taught in:
Term 1

The course aims to introduce students to a discussion of the main principles of Islamic banking and finance and to analyses of the relationship between Islamic banks and conventional banks evaluation of the current practices of Islamic banks, their merits and limitations. Numbers on this course will be limited; please see Dr Bassam Fattouh to apply for a place.

Objectives and learning outcomes of the module

The course aims to introduce students to a discussion of the main principles of Islamic banking and finance and to analyses of the relationship between Islamic banks and conventional banks and non-financial corporations in the Middle East and North Africa.  One objective is to understand the principles and practice of modes of Islamic finance for industry and commerce and explore their implications on investment and funding corporations and projects in the Middle East and North Africa.  Another objective is to enable students to evaluate the current practices of Islamic banks, their merits and limitations.

The course is designed to be studied without prerequisites in finance, economics, law or other subjects.  The academic elements of the course will be reinforced by contributions from practitioners to the international management programme's seminar series.

The learning objectives are to enable students:

  • To understand the main principles of Islamic banking and finance
  • To explain the rationale for the prohibition of riba and its consequences for savings and investment
  • To consider the nature and scope of Islamic finance and its relationship with conventional finance
  • To understand the long-term and short-term modes of Islamic finance for industry and commerce
  • To explore the range of Islamic financial instruments available for investors and corporations
  • To evaluate the current practices of Islamic banks and their relationship with non-financial corporations
  • To assess the merits and weaknesses of Islamic finance

Workload

Lectures
This module consists of a 1-hour weekly lecture over 10 weeks of term plus a revision lecture in term 3 as preparation for the final examination. Students will be supplied with a syllabus with a breakdown week by week of required and additional reading. Reading materials are usually accessed electronically from the BLE and students should come to class prepared.

Tutorials
This module also has a weekly 1-hour tutorial where the questions posed by the tutor relevant to the lecture are explored and discussed by the students. Students also prepare and deliver a short presentation.

Total Work load:
Students on this module will have 2 taught hours each week. Additionally, adequate personal study time should be allocated for reading and class preparation.

Method of assessment

Assessment for this module is in three elements:

  1. One tutorial presentation at 10%
  2. One essay of 2,500 words at 30%
  3. One unseen 2-hour written examination at 60%

All elements except the presentation may be resubmitted.

Disclaimer

Important notice regarding changes to programmes and modules