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Islamic Financial System

Course Description: This course provides students with a comprehensive understanding of the Islamic financial system. Students will study the principles of Islamic finance, the concept of Islamic finance in light of Islamic legal principles, contracts in Islamic banking, and unclassified contracts in Islamic banking. The course also extensively covers applications of Islamic asset-backed financial products, Islamic financial instruments and models, and Islamic bonds (Sukuk) and their importance. Students will understand Islamic social finance, challenges and risks associated with Islamic financial products, and social responsibility in Islamic finance. Finally, the course addresses Islamic finance experiences in some Islamic countries, as well as Islamic financial insurance and reinsurance (Takaful).

Credit hours: 3

Objectives of the course :

Upon completion of this course, the student will be able to:
Understand the principles and concept of Islamic finance in light of Islamic legal principles, contracts in Islamic banking, and unnamed contracts.
Analysis of Islamic financial products applications backed by assets, Islamic financial tools and models, Islamic bonds (Sukuk) and their importance, and Islamic social finance.
Evaluate the challenges and risks associated with Islamic financial products, social responsibility in Islamic finance, Islamic finance experiences in some Islamic countries, and Islamic financial insurance and reinsurance (Takaful).

Course outputs :

Knowledge and understanding:
Distinguishes between the concept and principles of Islamic finance in light of the principles of Islamic Sharia, contracts in Islamic banking, and unspecified contracts.
Discusses applications of asset-backed Islamic financial products, Islamic financial instruments and models, Islamic bonds (Sukuk) and their importance, and Islamic social finance.
 Evaluates the challenges and risks associated with Islamic financial products, social responsibility in Islamic finance, experiences of Islamic finance in some Islamic countries, and Islamic financial insurance and reinsurance (Takaful).
2) Skills:
Applies problem-solving and critical thinking skills to solve complex and advanced problems in Islamic finance systems.
3) Values, Responsibility, and Autonomy:
 Collaborates and actively participates in group projects related to Islamic financial systems, taking on leadership roles.
Analyzes the professional and ethical standards for resolving dilemmas and issues in Islamic financial systems.

Additional information:

Last updated: 2026-04-26