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Магистерская программа «Бизнес и политика в современной Азии»

Understanding Islamic Insurance and Investments

2020/2021
Учебный год
ENG
Обучение ведется на английском языке
2
Кредиты
Статус:
Курс по выбору
Когда читается:
2-й курс, 1 модуль

Преподаватель

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

Learning Objectives

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

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

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

Assessment Elements

  • non-blocking Test
  • Partially blocks (final) grade/grade calculation Essay
Interim Assessment

Interim Assessment

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

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