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2011/12 Taught Postgraduate Module Catalogue

LAW5596M Islamic Banking and Finance Law

15 creditsClass Size: 25

Module manager: Andy Campbell
Email: a.campbell@leeds.ac.uk

Taught: Semester 2 (Jan to Jun) View Timetable

Year running 2012/13

This module is approved as an Elective

Module summary

Islamic Banking and Finance Law is a 15 credit Module which examines the rise in Islamic banking and finance internationally. It includes: an introduction to Islamic financial law including historical background and an introduction to such topics as the principle of RIBA (the prohibition on paying or receiving interest); the history and development of objectives of Islamic banking; a study of Islamic financial products and their legal aspects.The module will be taught by way of five two hour seminars with focus on student participation and case studies.

Objectives

On completion of this module, students should be able to:
1) demonstrate advanced knowledge and understanding of the fundamental doctrines and principles of the aspects of Islamic banking and finance studied in the module.
2) identify the legal issues which arise in this area.
3) state and apply the relevant legal principles and rules, citing appropriate legal authorities.
4) demonstrate critical awareness of the subject matter.
5) make reasoned academic judgments based on informed understanding of primary and secondary sources (including electronic resources).

Learning outcomes
Upon completion of the module students will:
- understand the background and development of Islamic banking and finance law;
- be familiar with the literature and debates central to the subject of theoretical, religious and political context;
- be able to evaluate the strengths and weaknesses of the existing systems;
- be able to discuss critically the relevant issues surrounding Islamic banking and finance;
- be aware of the ways in which this area is developing internationally.

Skills outcomes
By the end of the module students will:
- have developed in-depth knowledge of the subject;
- be able to place the evolution and use of Islamic banking and finance in a comparative context;
- have developed critical understanding of the issues;
- have developed critical understanding of the theoretical, religious and political background of the subject;
- have developed the ability to critically assess and analyse the subject matter;
- have developed an awareness of the role of Islamic banking and finance law within the wider context of the commercial banking systems worldwide.

Syllabus

There will be 5 two hour seminars.
1) introduction to Islamic financial law including historical background and an introduction to Shariah.
2) a study of the principle of RIBA (the prohibition on paying or receiving interest) - theoretical and practical issues.
3) Islamic banking - history, development and objectives; laws and regulations of Islamic banking.
4) a study of Islamic financial products and their legal aspects.
5) detailed case study focusing on the issues covered in the module.

Teaching methods

Delivery type	Number	Length hours	Student hours
Lecture	5	2.00	10.00
Private study hours			140.00
Total Contact hours			10.00
Total hours (100hr per 10 credits)			150.00

Private study

- 60 hours preparation seminars on the basis of the reading list provided for each seminar.
- 30 hours self-directed reading and reflection after seminars.
- 50 hours preparing essay.

Opportunities for Formative Feedback

- Attendance will be monitored to provide early warnings of possible problems which may be inhibiting progress.
- Active participation in seminars is expected and this gives the opportunity to monitor progress.

Methods of assessment

Coursework

Assessment type	Notes	% of formal assessment
Essay	1 x 4,500 words	100.00
Total percentage (Assessment Coursework)		100.00

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

There is no reading list for this module

Last updated: 18/12/2013

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• Undergraduate module catalogue
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• Taught Postgraduate programme catalogue

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