Singapore University of Social Sciences

Islamic Finance

Islamic Finance (FIN356)

Applications Open: 01 April 2022

Applications Close: 15 June 2022

Next Available Intake: July 2022

Course Types: Modular Undergraduate Course

Language: English

Duration: 6 months

Fees: $1378 View More Details on Fees

Area of Interest: Finance

Schemes: Alumni Continuing Education (ACE), Lifelong Learning Credit (L2C)

Funding: To be confirmed

School/Department: School of Business


Synopsis

FIN356 provides the concepts and theoretical underpinnings of the Islamic Financial system and its products and services. It explains the fundamental principles and operational functions under the Shariah view of balanced profit-seeking, social responsibility and global sustainability. Basic tenets of accountability, equality, inclusiveness, preservation of property rights, the sanctity of contracts and the Rule of Law are discussed with the economic behaviour of individuals and operating tenets of financial institutions. It will be pivotal in helping participants grasp the basics of Islamic Finance principles, navigate the financial instruments that facilitate Shariah-compliant transactions and comprehend the real-world issues and intricacies from past banking case studies.

Level: 3
Credit Units: 5
Presentation Pattern: Every July

Topics

  • Islamic banking, financial system and the Shariah
  • Economic institutions, rules and contracts
  • Islamic contracts
  • Islamic instruments
  • Islamic retail and corporate banking
  • Commercial and treasury operations
  • Risk management tools and instruments
  • Risk management framework
  • Prudential regulation
  • Regulatory and standards authorities
  • The emergence of a risk-sharing financial system
  • Corporate governance and Shariah governance

Learning Outcome

  • Demonstrate an understanding of Islamic Banking Concepts based on Islamic Finance
  • Distinguish between the different forms of Islamic financial products and services
  • Compare and contrast established Islamic Financial regulations set by recognized institutions such as IFSB and AAOIFI.
  • Formulate risk management strategies for Islamic Financial Institutions.
  • Employ independent thinking and analytical judgment to discuss contemporary issues of Islamic Finance.
  • Appraise different strategies and operational realities vis-à-vis Islamic financial products and services.
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