Understanding Islamic Insurance and Investments

2020/2021

Учебный год

ENG

Обучение ведется на английском языке

2

Кредиты

Кто читает:

Департамент политологии и международных отношений

Статус:

Курс по выбору

Когда читается:

2-й курс, 1 модуль

Преподаватель

Бутуханов Александр Владимирович

Course Syllabus

Abstract

This course will give an overview of the basics of Islamic insurance, mutual and investment funds. Students will learn about the concept of Takaful Ta’awuni (collaborative), the basis for Takaful, Takaful vs Conventional insurance, the Tabarru or donation - based Takaful model. Online course “Understanding Islamic Insurance and Investments” at edX platform https://www.edx.org/course/understanding-islamic-insurance-and-investments

Learning Objectives

• • To learn how Islamic finance is converging to the global finance industry

Expected Learning Outcomes

• • Be able to explain the rapid growth of the Islamic finance with the trend expecting to continue
• • Be able to assess the Islamic finance’ potential to contribute to higher and more inclusive economic growth by increasing access of banking services to underserved populations
• • Be able to explain how features of Islamic finance can promote financial stability
• • Know and understand the Islamic perspectives on mutual funds and real estate investment trusts
• • Be able to critically assess the challenges for developing a Sukuk market

Course Contents

• • The Islamic Takaful System-Part 1
  1) Need for Sharī‘ah-Compliant Insurance 2) Concept of Takaful Ta’awuni 3) Shari’ah Basis for Takaful 4) Takaful vs Conventional Insurance
• • The Islamic Takaful System-Part 2
  1) Tabarru-based Takaful Model 2) Mudarabah-based Takaful Model 3) Wakalah-based Takaful Model 4) Profit vs. Surplus for Takaful Products 5) Deviations in Mudarabah and Wakala Takaful 6) Sharing Expenses in Takaful Products
• • Mutual Funds and Islamic Perspectives
  Mutual Funds, Debt Funds, Equity Funds, Hedge Funds, Real Estate Investment Trusts (REITs), Islamic Perspectives on Mutual Funds and REITs
• • Islamic Investment Fund
  1) Islamic debt funds, equity funds, REITs 2) Sukuks 3) International Sukuk market

Assessment Elements

• Test
• Essay

Interim Assessment

• Interim assessment (1 module)
  0.7 * Essay + 0.3 * Test

Bibliography

Recommended Core Bibliography

• Mohd M. Billah, Ezzedine GhlamAllah, & Christos Alexakis. (2019). Encyclopedia of Islamic Insurance, Takaful and Retakaful. Edward Elgar Publishing.

Recommended Additional Bibliography

• Askari, H., Mirakhor, A., & Iqbal, Z. (2015). Introduction to Islamic Economics : Theory and Application. Singapore: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=923524