Module Descriptors
ISLAMIC BANKING AND TAKAFUL: PRODUCTS AND SERVICES
ACCT70236
Key Facts
Digital, Technology, Innovation and Business
Level 7
15 credits
Contact
Leader: Ahmad Mlouk
Email: A.Mlouk@staffs.ac.uk
Hours of Study
Scheduled Learning and Teaching Activities: 36
Independent Study Hours: 114
Total Learning Hours: 150
Assessment
- CLASS-TEST weighted at 40%
- PORTFOLIO weighted at 60%
Module Details
Module Indicative Content
This module will introduce the development of the Islamic financial systems and institutions. This will include the Islamic capital market, Takaful and settlement system, financial regulations and market standards, deposit and investment accounts. Furthermore, the module will study the Islamic banking products and services; trade finance and treasury products. The module goes on to introduce the subject Takaful, the Takaful products and services. It also studies the different methods of Takaful underwriting, treatment of deficits and surpluses of Takaful and the Retakaful. It concludes with the financial and operational risks of Islamic Financial Institutions.
When studied as part of the MSc Islamic Finance and Accounting, the successful completion of this module may lead to an exemption from the equivalent unit in the CIMA Diploma in Islamic Finance. For up to date information on accreditation and exemptions please contact the Award Leader
When studied as part of the MSc Islamic Finance and Accounting, the successful completion of this module may lead to an exemption from the equivalent unit in the CIMA Diploma in Islamic Finance. For up to date information on accreditation and exemptions please contact the Award Leader
Module Learning Strategies
The learning strategy for the module requires students to commit 150 learning hours (including assessment) of which there will be 36 hours of tutor support and 114 hours of independent and self directed study.
The lecture/tutorial pattern may vary with some activities taking place in medium size group workshops.
18 hours of tutor lead sessions
18 hours of student centred learning sessions
There will be sessions to introduce the core material, as well as smaller group sessions, including problem solving, discussion and workshop type activities. Students will be expected to complete the exercises and directed learning in their independent learning time.
The lecture/tutorial pattern may vary with some activities taking place in medium size group workshops.
18 hours of tutor lead sessions
18 hours of student centred learning sessions
There will be sessions to introduce the core material, as well as smaller group sessions, including problem solving, discussion and workshop type activities. Students will be expected to complete the exercises and directed learning in their independent learning time.
Module Texts
CIMA (2011) Islamic Banking & Takaful: Products and Services, Study Guide Two.
El Tiby, Amr Mohamed (2011) Islamic Banking: How to Manage Risks and Improve Profitability, 1st Edition. John Wiley & Sons, Inc.: Hoboken, New Jersey.
Iqbal, Z., Mirakhor, A., Askari, H. and Krichene, N. (2012) Risk Sharing in Finance: The Islamic Finance Alternative, 1st Edition. John Wiley & Sons, Inc.: Hoboken, New Jersey.
El Tiby, Amr Mohamed (2011) Islamic Banking: How to Manage Risks and Improve Profitability, 1st Edition. John Wiley & Sons, Inc.: Hoboken, New Jersey.
Iqbal, Z., Mirakhor, A., Askari, H. and Krichene, N. (2012) Risk Sharing in Finance: The Islamic Finance Alternative, 1st Edition. John Wiley & Sons, Inc.: Hoboken, New Jersey.
Module Resources
Module study guide
The University Library and Learning Resources - books and academic journals
The module VLE
Electronic data bases
Learning support materials
Internet
The University Library and Learning Resources - books and academic journals
The module VLE
Electronic data bases
Learning support materials
Internet
Module Additional Assessment Details
A one hour class test weighted at 40%, testing LOs 1 & 2 and a portfolio of 2000 words weighted at 60%, testing LOs 3 & 4.