- Instructor: Dr. Karim SOUSSOU
- Email: karim.soussou@tbs.u-tunis.tn
Course Description
The course describes the important characteristics of Islamic Finance, its unique concept, the source of its rules, the different financial instruments applied and their validity. It als- introduces the Takaful or Islamic version of insurance concept and applications. Next, it explains how Central bank and Islamic banks deal with eachother in a secular financial system. Finally, it offers some Sharia compliant or lawful alternatives t- some of the most common conventional derivative instruments.
Course Learning Outcomes
At the end of this course, students should be able t- learn:
- Islamic Finance structure, features, laws and sources
- Valid sales, importance of Zakat and their rules
- Most common Islamic financial products applied in Islamic Banking:
- Murabaha procedure, rules and related securitization or Sukuk
- Mudaraba procedure, rules and related securitization or Sukuk
- Musharaka procedure, rules and related securitization or Sukuk
- Ijara procedure, rules and related securitization or Sukuk
- Salam procedure, rules and related securitization or Sukuk
- Istisnaa procedure, rules and related securitization or Sukuk
- Takaful or Financial Insurance procedure, rules and types
- Central bank relation with Islamic banks and alternatives t- some conventional derivatives
Course Materials
- Introduction to Islamic Banking and Finance by Brian Kettell, Wiley, 2011
- The Islamic Banking and Finance Workbook by Brian Kettell, Wiley, 2011
- Case Studies in Islamic Banking and Finance by Brian Kettell Wiley, 2011
- ETHICA Handbook of Islamic Finance, 2013 Edition
Course Content
- Introduction to Islamic Finance
- Sale and Zakat
- Murabaha / Sale Based Mode of Financing
- Mudaraba / Participatory Based Mode of Financing
- Musharaka / Participatory Based Mode of Financing
- Ijara / Rent Mode of Financing
- Salam / Forward Sale Mode of Financing
- Istisnaa / Manufacturing Mode of Financing
- Takaful / Islamic Insurance
- Takaful / Islamic Insurance
- Central Banks & Derivatives
TBS Grading Scale
| Scale (out of 100) | TBS Grading Scale | Grade Point |
|---|---|---|
| Grade > 90 | A | 4.0 |
| 87≤ Grade < 90 | A- | 3.7 |
| 83 ≤ Grade < 87 | B+ | 3.3 |
| 80 ≤ Grade < 83 | B | 3.0 |
| 77 ≤ Grade < 80 | B- | 2.7 |
| 73≤ Grade < 77 | C+ | 2.3 |
| 70 ≤ Grade < 73 | C | 2.0 |
| 67 ≤ Grade < 70 | C- | 1.7 |
| 65 ≤ Grade < 67 | D+ | 1.3 |
| 60 ≤ Grade < 65 | D | 1.0 |
| Grade < 60 | F | 0.0 |