T4

T-104
2022
2022
Course Specification

Course Title: Islamic Financial Systems

Course Code:FIN 624

Program:Master of Science in Finance

Department:Department of Economics and Finance

College:College of Business and Economics

Institution:Qassim University

Version:Second Version

LastRevision Date:02/23/2020

Table of Contents:
Content Page
A. General Information about the course 3
1. Teaching mode(mark all that apply)
3
2. Contact Hours (based on the academic semester)

B. Course Learning Outcomes (CLOs), Teaching Strategies 5

and Assessment Methods
C. Course Content 5
D. Student Assessment Activities 6
E. Learning Resources and Facilities 7
1.References and Learning Resources 7
2. Required Facilities and Equipment 7
F. Assessment of Course Qualit 7
G. Specification Approval Data 8

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A. General information about the course:
Course Identification
1. Credit hours:
2. Course type
a. University College Department Track Others
b. Required Elective
3. Level/year at which this course is
offered:
4. Course general Description
This course focuses on the study of various Islamic financing and investment instruments
under the umbrella of Shari’ah, contracts for each of these instruments, their associated
risk management and diversification of the portfolios of Islamic financial institutions, the
use of financial analysis tools, combining the theoretical and applied proposition of
financing and investment instruments, some other related topics, i.e. real estate, corporate
governance, a comprehensive and detailed comparison with conventional financing system
5. Pre-requirements for this course (if any):
None
6. Co- requirements for this course (if any):
None
7. Course Main Objective(s)
 Understand Business ethics from an Islamic perspective.
 Gain understanding of the Islamic finance methods in accordance with the provisions
of Islamic Shariah.
 Develop an advanced understanding of Islamic finance and the current practices of
Islamic Banks, legal and ethical frameworks under which they operate.
 Recognize the differences between challenges and opportunities facing current
Islamic financial system.
 Conduct a comparative analysis between traditional and Islamic finance

1. Teaching mode(mark all that apply)

No Mode of Instruction Contact Hours Percentage
1. Traditional classroom 45 100%
2. E-learning
Hybrid
3.  Traditional classroom
 E-learning
4. Distancelearning

2. Contact Hours (based on the academic semester)

No Activity Contact Hours

3
1. Lectures 45
2. Laboratory/Studio
3. Field
4. Tutorial
5. Others (specify)
Total 45

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B. Course Learning Outcomes (CLOs), Teaching Strategies and
Assessment Methods
Course Learning Code of CLOs aligned Assessment
Code Teaching Strategies
Outcomes with program Methods
1.0 Knowledge and understanding
Identify advanced
concepts, principals and Lecturing & Midterm test and
1.1 K1
theories related to Class Discussions exam
Islamic finance
Explain advanced
concepts, principals and Lecturing & Midterm test and
1.2 K1
theories related to Class Discussions exam
Islamic finance
Apply advanced
concepts, principals and Lecturing & Midterm test and
1.3 K1
theories related to Class Discussions exam
Islamic finance
2.0 Skills
Apply problem solving
and critical thinking
Case-Based
skills to solve complex
2.1 S1 learning& Case study
and advanced problems
Class Discussions
in Islamic Financial
Systems
3.0 Values, autonomy, and responsibility
Effectively collaborate
and participate in group
Team-Based
projects related to
3.1 V1 learning& Group Project
Islamic Financial
Class Discussions
Systems and undertake
leadership roles
Analyze ethical
Lecturing & Report on Ethical
3.2 dilemmas that arises in V2
Class Discussions Issue
Islamic finance

C. Course Content
No List of Topics Contact Hours
1. Principles of Islamic Finance 3
2. The concept of Islamic finance with the principles of Islamic legislation 3
3. Contracts in Islamic banking 3
4. Unnamed contracts in Islamic banking 3
5. Applications of Islamic asset backed financial products 3
6. Applications of Islamic asset backed financial products 3
7. Applications of Islamic asset backed financial products 3
8. Applications of Islamic asset backed financial products 3
9. Islamic financial tools and models 3

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 10. Islamic Bonds and their significance 3
11. Islamic Social Finance 3
12. Challenges and risks associated with Islamic financial products 3
13. Social Responsibility in Islamic Finance 3
14. Islamic finance experiences in some Islamic countries 3
15. Islamic Financial Insurance and re-Insurance 3
Total 45

D. Students Assessment Activities

Assessment
Percentage of Total
No Assessment Activities * timing
Assessment Score
(in week no)
1. Midterm 5 20%
2. Case study 7 10
3. Group Project 8 20
4. Report on an Ethical issue 9 10
End of
5. Final Exam 40%
Semester
*Assessment Activities (i.e., Written test, oral test, oral presentation, group project, essay, etc.)

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E. Learning Resources and Facilities
1.References and Learning Resources
 Muhammad Ayub (2007). Understanding of Islamic Finance. John Wiley
 Fayaz Ahmad Lone (2016) Islamic Banks and Financial Institutions. Palgrave
Essential References Macmillan, USA
 Hassan, Abul, Mollah, Sabur (2018) Islamic Finance Ethical Underpinnings.
Products, and Institutions.Pelgrave.
Supportive References  Different Publications of Islamic Development Bank and IRTI
Electronic Materials  Bloomberg Terminal
Other Learning Materials  Websites of Islamic Capital Market, INCIEF, ISRA And AAOIFI

2. Required Facilities and equipment

Items Resources
facilities
(Classrooms, laboratories, exhibition rooms,
A lecture room with 30 seats at the main campus
and at the female building.
simulation rooms, etc.)
Technology equipment
(projector, smart board, software)
Smart Board, Computer, Data Show etc.

Other equipment
Bloomberg terminals
(depending on the nature of the specialty)

F. Assessment of Course Quality

Assessment Areas/Issues Assessor Assessment Methods
Class visit, course material
Effectiveness of teaching Peer Reviewer
(Direct)
Reevaluation of a sample
of students work (Direct)
Effectiveness of students’ assessment Faculty The use of standard
assessment traits (rubrics)
(Indirect)
Class visit, course material
Quality of learning resources Peer Reviewer
(Direct)
Courses Comprehensive
The extent to which CLOs have been
achieved
Program Director Matrices and Courses
Reports Analysis (Direct)
Other
Assessor (Students, Faculty, Program Leaders, Peer Reviewer, Others (specify)
Assessment Methods(Direct, Indirect)

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G. Specification Approval Data
COUNCIL
DEPARTMENT COUNCIL
/COMMITTEE
REFERENCE NO. 18TH MEETING ACADEMIC YEAR 1441-1442

DATE 02/23/2020