Certificate In Islamic Economics And Finance

Certificate In Islamic Economics And Finance

 

Certificate in Islamic Economics and Finance Program will start with the cooperation of İstanbul 29 Mayıs University and Al-Maktoum College for Higher Education. 

 

 

Program

Unit 1: Islamic Economics and Finance (24 Hours)

Unit Coordinator: Dr. Harun Sencal

UNIT SUMMARY

The unit will cover the origin, concepts, and aims of Islamic economics, including Islamic finance as practical tool of system of Islamic economics. This unit will also develop an understanding of the history and evolution of Islamic political economy and Islamic moral economy both from Islamic and neoclassical point of views. The unit will also address systematic understanding of Islamic political economy and the axioms of Islamic moral economy which defines the frame, methodology and institutions.

It will also cover all aspects associated with Islamic Finance, including the definitions, classifications, nature, and condition of validity of transactions in Islam. Moreover, this unit will discuss the emergent financial institutions and instruments of Islamic finance. It will explore how Islamic Finance principles have evolved into structures of products and services. Issues of financial and non-financial products and services also will be considered.

This unit is linked to the Applied Islamic Banking and Insurance unit, so that students conversant with all the principles and structures behind Islamic Banking and Insurance can be empowered to engage in its application.

AIMS

  1. To redefine Islamic economics and finance with its aspects to construct a comprehensive and integrated economic system;
  2. To critically evaluate the implementation of Islamic finance according to Islamic Moral economy postulates and assumptions;
  3. To acquire a clear understanding of Islamic economic methodology through a critical appraisal of key postulates in existing literature;
  4. To examine the emergent financial institutions and instruments of Islamic Finance;
  5. To understand the non-market institutions and their role in economic development and securing the welfare for the larger stakeholder.

     

LEARNING OUTCOMES

On successful completion of the course, students should be able to:

  1. Understand and evaluate the origin, concepts, and aims of Islamic moral economy in the micro and macro level;
  2. Critically understand and assess the methodology of Islamic economics in comparison with neoclassical economics;
  3. Understand and evaluate the regulatory frameworks, and challenges in the applications of Islamic law (Shari’ah) to Islamic economics and finance;
  4. Analyse and evaluate the policies of Islamic moral economy in the market place: Islamic financial transactions, and the practical applications in the products and services in Islamic financial industry;
  5. Critically understand the process of economic development in the light of al maqasid al Shari’ah and institutions for Islamic welfare.

SESSION DATE TOPIC
  Part I: Islamic Economics
1 17/3/20189:30-12:30 Background of Islamic Economics and Various Approaches towards Islamic Economics
2 17/3/201813:30-16:30 An Introduction to Islamic Political Economy and Islamic Moral Economy
3 18/3/20189:30-12:30 Methodology of Islamic Economics
4 18/3/201813:30-16:30 Islam and Economic Development and Social Welfare Institutions
  Part II: Islamic Finance
5 24/3/20189:30-12:30 Background of Islamic Finance and Current Trends
6 24/3/201813:30-16:30 Islamic Indices, Crowdfunding and FinTech
7 25/3/20189:30-12:30 Corporate and Shari’ah Governance
8 25/3/201813:30-16:30 Halal Markets

 

 

Unit 2: Applied Islamic Banking and Insurance (24 Hours)
Unit Coordinator: Dr. Salah Alhammadi
UNIT SUMMARY

The growing importance of the Islamic finance industry and the rapid global development of Islamic financial institutions, make it essential that anyone interested in the area of Islamic finance is conversant with the fundamentals, core concepts, and practical operation, control system and regulatory framework of Islamic banking and insurance. The unit will cover the differences between Islamic and western banking and insurance models in terms of conceptual framework, governing principles, governance system, business model, and product level differentiation. It will also cover all aspects associated with Islamic banking and insurance operation, including the embedding of Shari’ah compliance and regulatory frameworks in product development, asset liability management, internal control system, internal and Shari’ah audit as an independent assurance process. The unit will explore how Islamic principles have evolved into structures of products, services, control and governance system in Islamic banking and Takaful industry. The issues of Islamic banking and insurance products and services also will be critically analysed.

AIMS

  1. To provide students with an advanced understanding of the theoretical aspects of the Islamic banking and insurance systems.
  2. To provide students with the understanding of the contemporary application of Islamic banking and insurance.
  3. To critically examine the institutional frameworks, governance systems and regulation of Islamic banking and insurance.
  4. To critically evaluate the main controversies and challenges facing Islamic banking and insurance.

LEARNING OUTCOMES

On completion of this unit the students should be able to:

  1. Critically understand the differences of the institutional framework, governing principles, governance system, business model, and products of Islamic and western banking and insurance.
  2. Critically understand the process of product development and asset liability management in Islamic banking and insurance.
  3. Critically understand the three levels of defence in Islamic banking and insurance operation, which includes the internal Shari’ah control system, implementation of a risk management framework, and the process of internal and Shari’ah audits.
  4. Understand how to apply and evaluate the integration of Shari’ah compliance principles and regulatory frameworks into all aspects of Islamic banking and Takaful operation.
  5. Critically evaluate the issues within the evolvement of product structures, services, control and governance system in Islamic banking and Takaful industry.

SESSION DATE TOPIC
1 31/3/2018
9:30-12:30
The introduction to the course subject.Background of Islamic Finance. Institutional framework, governing principles, and governance system of Islamic and western banking and insurance.
2 31/03/2018
13:30-16:30
The business model and products of Islamic banking.
3 01/04/2018
9:30-12:30
The business model of Islamic insurance (Takaful) and reinsurance (Retakaful).
4 01/04/2018
13:30-16:30
Sukuk
5 07/04/2018
9:30-12:30
Product development in Islamic banking and insurance.
6 07/04/20181
3:30-16:30
Risk and Asset liability management in Islamic banking and insurance.
7 08/04/2018
9:30-12:30
Corporate governance issue within product structures, services in Islamic banking and Takaful industry, and Shari’ah governance and Internal Shari’ah control system in Islamic banking and insurance
8 08/04/2018
13:30-16:30
The effect of conflict of interest between UPSIA holders and shareholders (case study)

 

Contact

e-mail: surem@29mayis.edu.tr                      Tel: 009 0216 474 08 61 (1718/1725)

Post Views: 897 Date Posted: 27 Şubat 2018