Faculty of Business Administration

Course Outline

1. Course Code and General Information

Course Code BUS474
Course Title Islamic Banking Applied Finance
Credit Hours 03
Pre-requisite Principles of finance and Microeconomics
Program MBA
Semester Spring 2021

2. Instructor and contact information

Faculty Name Dr. Ameen Ullah/Rahmat Ullah/Muhammad Makki
Contact Number 00 92 333 3178824/ 0092 300 8324242/ 0092 334 2216215
Email Address Ameenullah.aman@iqra.edu.pk/Rahmat.ullah@iqra.edu.pk
Office Number 021-38797097 (ext:3702)
Office Hours 8:30 am – 9:30 pm

3. Program Learning Outcomes

Critical Thinking and Decision Making

PLO1: Illustrate critical thinking skills in the Islamic banking concepts and practices.
Leadership Skills
PLO2: Exhibit leadership skills in executing projects in the Islamic banking environment
Communication Skills
PLO3: Communicate professionally through oral and written means by using appropriate
technology
Experiential Learning
PLO4: Demonstrate Islamic finance knowledge through practical assignment by working in a
real environment
Ethics and Values
PLO5: Apply ethical principles and show commitment towards financial inclusion strategy.

4. Course Description
This is a comprehensive course that is designed to give an understanding of the issues involved
in Islamic Banking &Finance. The course is beneficial for Bachelor and Masters level students
as it includes in-depth study of the new emerging system. It gives the basic understanding on
the definitions and applications used and give an overview of the basic ideas and the
foundations of Islamic Banking &Finance.

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 5. Course Objectives
1. To compare Islamic economic and financial system with conventional counterpart.
2. To understand the fundamental basis of Islamic economic and financial system.
3. To understand the modes and application of Islamic banking and finance.
4. To understand the rules of Islamic modes of finance.
5. To understand the socio-economic benefits of Islamic economic and financial system.

6. Course Learning Outcomes (CLO)

After completing this course a student will be able to:
1. Can evaluate between the two modes of Islamic Economics, Finance and Banking system
with methods that differentiate from conventional base application.
2. Correct form of language used for the system which gives the accurate understanding of
the Islamic Economics, Finance and Banking system at academic level.
3. To be able to work on the profit & loss sharing in the transitions or projects with the
Islamic applications, methods and practices.
4. To know the restrictions and permissions in the Islamic Economics, Finance and Banking.
5. To be aware of prohibited acts in the monetary dealing that makes the system transparent
and viable of socio-economic line of the community.

7. Teaching and Assessment

Code CLO Teaching Strategies Course Assessment
Methods
1 Critical Thinking and Decision Making
CLO1.1 Islamic and conventional Lecture Examination
economic and banking systems. Reading Assignments Quizzes
Case Studies Presentation
Group Discussion
CLO1.2 Choose fundamental negotiation Lecture Examination
approach in financial contracts Reading Assignments Quizzes
with respect to Shariah Case Studies Presentation
principles. Group Discussion
2 Leadership Skills
- - - -

3 Communication Skills
- - - -

4 Experiential Learning
CLO4.1 Discuss key issues in the Islamic Lecture Project
financial services industry. Reading Assignments
Case Studies
Group Discussion
5 Ethics and Values
CLO5.1 Assess Islamic banking policy Lecture Examination
issues. Reading Assignments Quizzes
Case Studies Presentation

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 Group Discussion

8. Alignment of Course Learning Outcomes with Program Learning Outcomes

S No. Course Learning Outcomes (CLO) Program Learning Outcomes (PLO)
1 CLO 1.1 PLO 1

2 CLO 1.2 PLO 1

3 CLO 4.1 PLO 4

4 CLO 5.1 PLO 5

9. Course Contents
Session Topic Recommended Readings
1 Sources of Shariah Meezan Bank guide to Islamic Banking
and Finance by Dr. Imran Ashraf Uthmani
(Latest Ed.).

2 Riba and Gharar-I Meezan Bank guide to Islamic Banking

and Finance by Dr. Imran Ashraf Uthmani
(Latest Ed.).

3 Riba and Gharar-II Meezan Bank guide to Islamic Banking

and Finance by Dr. Imran Ashraf Uthmani
(Latest Ed.).

4 Meezan Bank guide to Islamic Banking

Introduction to Islamic and Finance by Dr. Imran Ashraf Uthmani
Economics_Part I. (Latest Ed.).
5 Meezan Bank guide to Islamic Banking
and Finance by Dr. Imran Ashraf Uthmani
Introduction to Islamic (Latest Ed.).
Economics_Part II.
6 Islamic Law of contracts Understanding Islamic Finance by
Muhammad Ayub

7 Introduction to Islamic Banking Understanding Islamic Finance by

Muhammad Ayub

8 Midterm Examination
9 Musharakah Partnership Meezan Bank guide to Islamic Banking
and Finance by Dr. Imran Ashraf Uthmani
(Latest Ed.).

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 10 Mudharabah Partnership Meezan Bank guide to Islamic Banking
and Finance by Dr. Imran Ashraf Uthmani
(Latest Ed.).

11 Murabaha Sale Meezan Bank guide to Islamic Banking

and Finance by Dr. Imran Ashraf Uthmani
(Latest Ed.).

12 Salam and Istisna Meezan Bank guide to Islamic Banking

and Finance by Dr. Imran Ashraf Uthmani
(Latest Ed.).

13 Ijarah financing Meezan Bank guide to Islamic Banking

and Finance by Dr. Imran Ashraf Uthmani
(Latest Ed.).

14 Sukuk Financing Meezan Bank guide to Islamic Banking

and Finance by Dr. Imran Ashraf Uthmani
(Latest Ed.).
Shariah Standard No. 17 (Investment
Sukuk)
15 Takaful Understanding Islamic Finance by
Muhammad Ayub

16 Final Examination

10. Schedule of Assessment Tasks for Students During the Semester

S. No. Course Assessment Method Week Due Percent of Total Assessment
1 Quizzes 3, 6, 10, 13 10%
2 Midterm Examination 8 25%
3 Project 15 15%
4 Presentations (Cases/Articles) 13 10%
5 Final Examination 16 40%

11. Grading Policy

‘A’ Grade 88 and above
‘B+’ Grade 81-87
‘B’ Grade 74-80
‘C+’ Grade 67-73
‘C’ Grade 60-66
‘F’ Grade Below 60
12.
13. Text Book(s)

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 1. Meezan Bank guide to Islamic Banking and Finance by Dr. Imran Ashraf Uthmani
(Latest Ed.).
2. Understanding Islamic Finance by Muhammad Ayub
3. An Introduction to Islamic Finance by Muhammad Taqi Usmani.

14. Reference Books & Learning Material

 History of Islamic Economic Thought by Abdul Azim Islahi.
 Islamic Economics System by Dr Nijatullah Siddiqui.
 Partnership & Profit-sharing in Islamic Law by Muhammad Nijatullah Siddiqui.
 Banking without Interest by Muhammad Nijatullah Siddiqui.
 Issues in Islamic Banking: Selected Papers, by Muhammad Nijatullah Siddiqui.
 Developments in Islamic Banking, the Case of Pakistan Authors: Khan, M., Bhatti, M.

15. Code of Conduct

Students have to follow the rules stated below to avoid a failing grade in the course:
 Understand and follow the University policy regarding attendance.
 Arrive in and leave the classroom strictly on time. Late arrival will be marked as absence.
If you leave the classroom in the middle of a session even for a short while, you will be
marked absent.
 Keep your cell phone off during the class.
 Do the assigned readings for a class before coming to the class.
 Maintain a disciplined, cordial, and respectful attitude towards the teacher and your
fellow students.
 Submit your homework on the due date before the class begins.
 Do not plagiarize from books, journals, or the internet.
 Do not cheat (make someone else do your work or present work for some other course as
work for this course).
 The teacher’s decisions about marks and grade will be final.

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