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Contemporary Financial Transactions

Course Description: This course covers the definition of contemporary financial transactions, their origins, the methodology for studying emerging issues, murabaha sale for a purchaser, organized tawarruq, supply contracts, installment sales, penalty clauses, options contracts in financial markets, the jurisprudential classification of banknotes and when usury applies to them, dealing with usurious banks, how to dispose of usurious interest, prominent banking loans such as current accounts, credit cards and their rulings, taking compensation for guarantees and their contemporary applications, letters of guarantee, documentary credits, insurance, contemporary applications of hawala such as bank transfers, checks, etc., company bankruptcy, contemporary company types and their rulings, studying the most important articles of contemporary company law, company shares, investment funds, and Ijara (leasing) ending in ownership.
Credits: 2
Prerequisites: FAGH237
Objectives of the course :

1. Definition of terms and concepts in contemporary financial transactions.
2. Mention the origin of contemporary financial transactions and jurisprudential rulings for murabaha to the purchase-obligor, organized tawarruq, supply contracts, installment sales, penalty clauses, options contracts in financial markets, banknotes, dealing with interest-based banks, bank loans, taking compensation for guarantees and its contemporary applications, contemporary applications of remittances, corporate bankruptcy, contemporary companies and investment funds, and leasing ending in ownership.
3. Developing the jurisprudential capacity that enables the derivation of Sharia rulings for murabaha to the purchase orderer, organized tawarruq, supply contracts, installment sales, penalty clauses, options contracts in financial markets, banknotes, dealing with interest-based banks, bank loans, receiving compensation for guarantees and its contemporary applications, contemporary applications of hawala, corporate bankruptcy, contemporary companies and investment funds, and ijara ending in ownership, with their detailed evidence, and applying them to specific cases.
4. Adhering to good manners and skills in dealing with those who hold differing opinions on controversial issues.
5. Utilizing modern technology to access information on course subjects.

Course outputs :

Knowledge and understanding:
To define the terms and concepts in contemporary financial transactions in the course.
2. Mention the general evidence, methods of inferring them, and the jurisprudential and maqasidic rules related to contemporary financial transactions.
3. Explanation of the evidence for contemporary financial rulings from the Quran and Sunnah, according to the scientific methodology of the exegetes and hadith scholars.
Skills:
1. Applying the skills of derivation and text interpretation in establishing and understanding evidence in contemporary financial transaction issues, utilizing modern technological applications.
2- Using technical, computational, and numerical skills in fiqh issues in contemporary financial transactions. .
3. To apply jurisprudential rulings to contemporary financial transactions.
Values, autonomy and responsibility:
1. Adhering to Islamic ethics, social, professional, and academic values, and the etiquette of disagreement.
2 - Bear the assigned responsibility professionally and independently.
3- Work collaboratively and effectively as a team.

Additional information:

Course Topics:
Definition of Contemporary Financial Transactions, Statement of its Origin, Methodology for Studying New Issues.
Murabahah for the Purchaser.
Organized Tawarruq.
Supply contracts.
Installment sales, penalty clause.
Options contracts in financial markets.
The jurisprudential ruling on banknotes and when usury applies to them, dealing with usurious banks, how to get rid of usurious interests.

 

Prominent bank loans; such as checking accounts, credit cards, and their terms.
Taking Consideration for a Guarantee and its Contemporary Applications.
Letter of guarantee, letter of credit.
Insurance.
Contemporary wire transfer applications, such as bank transfers, checks, and others.
Company bankruptcy, modern company departments and their provisions, study of the most important articles of the modern company system, company shares
Investment funds.

  • Last updated: 2026-05-04

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