An oral presentation of 30 minutes supported by submitting the material used (i.e. PP slides/report) weighted at 60% testing LOs 1, 2 & 3 AND (b) a class test of ONE hour weighted at 40% testing LOs 4 & 5.

This module will start with a general overview of the conventional capital market and its operations, it then goes on to introduce the development and growth of the Islamic capital markets and instruments. This will include the Shari’ah principles governing the Islamic capital market, the Islamic bonds/ 'Sukuk', the Islamic asset-backed securities, the Islamic equity assessment criteria, Islamic mutual funds and unit trusts, contracts and products suitable for Islamic investment, Islamic real estate investment trusts. 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. The module concludes with the managing of financial and operational risks of Islamic Financial Institutions.
When studied as part of the MSc Islamic Finance, 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

1. Comprehensive understanding of the differences between conventional and Islamic capital markets. Knowledge and Understanding
Communication

2. Critical understanding of the primary and secondary capital markets and the Islamic financial instruments traded in those markets. Knowledge and Understanding
Analysis
Learning

3. Systematic understanding of the importance of regulations within the Islamic capital market. Knowledge and Understanding
Learning

4. Demonstrate a critical understanding of the products and services offered under Takaful. Knowledge and Understanding
Analysis

5. Critical understanding of the screening processes used in accepting/ rejecting Shari’ah compliant investment products.
Knowledge and Understanding
Analysis
Reflection
Learning

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.

Students will be directed to carry out research and present their findings to the group. In doing so, students will receive feedback both from their peers and tutor on their presentation. This formative feedback prepares them for their final assessment. Especially the presentation which is weighted at 60%.

18 hours of tutor lead sessions
18 hours of student centred learning sessions which will be designed in a way that the tutor will facilitate discussion based on previously assigned case studies and research topics. Students will be expected to make significant contribution to these 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 study guide
The University Library and Learning Resources – books and academic journals
Electronic data bases
Learning support materials
Internet

FOR INTERNATIONAL COLLABORATIVE PARTNERS ONLY

CIMA (2011) Islamic Capital Markets and Instruments, Study Guide Three.
Hassan, K. and Mahlknecht, M. (2011) Islamic Capital Markets: Products and Strategies. John Wiley & Sons, Ltd. Great Britain