Applied Islamic Banking and Insurance module (BU52030)

This module provides an understanding of Islamic banking and insurance's theoretical aspects and practice.

It also provides knowledge of the development of Islamic financial products.

You will examine the institutional frameworks, governance systems, regulations and products of Islamic banking and insurance. You will then be able to evaluate the main controversies and challenges facing Islamic banking and insurance.

What you will learn

The module aims:

• to provide an advanced understanding of the theoretical aspects and contemporary application of the Islamic banking and insurance
• to critically examine the institutional frameworks, governance systems and regulation of Islamic banking and insurance
• to critically evaluate the main controversies and challenges of Islamic banking and insurance

At the end of the module, you will be able to:

• demonstrate the skills used in Islamic economics and finance, including:
  • understanding the differences between the institutional framework, governing principles, business model, and products of Islamic and Western banking and insurance
  • understanding Islamic banking and insurance product development process and asset liability management
  • understanding the three levels of defence in Islamic banking and insurance operations
  • understanding how to apply and evaluate the integration of Shari'ah compliance principles and regulatory frameworks into all aspects of Islamic banking and operation
• demonstrate an understanding of Islamic banking and finance concepts and principles
• demonstrate an awareness of current issues

Assignments / assessment

The assignments comprise the following:

• Coursework 1: proportion of final summative assessment by critical review (50%)
• Coursework 2: proportion of final summative assessment by assignment (50%)

Teaching methods / timetable

This module is taught using the following:

• lectures: 20 hours
• guided independent study including the completion of assessment tasks: 180 hours