Islamic Banking and Finance

Course Outline, Spring 2020

Instructor: Arif Irfanullah

Teaching Assistant: TBA

Course Objective

To enhance your understanding of Islamic banking and finance.

Class Participation

Students must review the assigned readings before coming to class.

Grading Plan

Class presentations and quizzes 20%

Mid-Term 30%

Final presentation 10%

Final exam 40%

Reading Material

 Islamic Finance and the New Financial System by Tariq Alrifai (IFNFS)
 Islamic Banking and Finance by Dr. Ashraf Usmani (IBF)
 Selections from Meezan Bank Annual Report
 Miscellaneous readings and online resources

Lecture Topics

From Islamic Finance and the New Financial System

1. Brief History of Financial Systems and the Birth of Money

2. Past Financial Crises and Their Causes
3. The Global Financial Crisis of 2008
4. Solutions Create More Problems
5. The Next Financial Crisis and the New Financial System
6. The Key Principles of Islamic Finance

INSTITUTE OF BUSINESS ADMINISTRATION (IBA)

 Islamic Banking and Finance
Course Outline, Spring 2020

From Islamic Banking and Finance

1. Capitalism, Socialism and the Islamic Economic System

2. Factors of Production in Islam
3. Objectives of the Distribution of Wealth
4. Prohibition of Riba
5. Riba and its Types
6. Islamic Contract
7. Elements of Valid Sale
8. Sale
9. Kiyars
10. Musharakah
11. Mudarabah
12. Diminishing Musharakah
13. Murabaha
14. Salam
15. Istisna
16. Istijrar
17. Ijarah
18. Ijarah Wa Iqtina
19. Tawarruq
20. Islamic Banking Framework
21. Musharakah in Bank Deposits
22. Project Financing
23. Working Capital Financing
24. Import Financing
25. Export Financing
26. Treasury Operations
27. Securitization
28. Islamic Investment Funds

Review of Meezan Bank Annual Report

Topics to be covered if time permits

29. Principle of Limited Liability

30. Takaful
31. Guarantees and Pledge
32. Shariah Audit and Compliance
33. Examining the Prudence of Islamic Banks

INSTITUTE OF BUSINESS ADMINISTRATION (IBA)