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File Ref.No.10106/GA - IV - B1/2014/CU UNIVERSITY OF CALICUT
File Ref.No.10106/GA - IV - B1/2014/CU
UNIVERSITY OF CALICUT
Abstract
BA Programme in Islamic Finance with Computer Application - CUCBCSS UG 2014 - Scheme and
Syllabus - Approved - Implemented with effect from 2014 Admissions-Orders issued.
G & A - IV - B
U.O.No. 7454/2014/Admn
Dated, Calicut University.P.O, 01.08.2014
Read:-1. U.O. No. 3797/2013/CU, dated 07.09.2013 (CBCSS UG Modified Regulations
(File.ref.no. 13752/GA IV J SO/2013/CU).
2. U.O. No. 5180/2014/Admn, dated 29.05.2014 (CBCSS UG Revised Regulations)
(File.ref.no. 13752/GA IV J SO/2013/CU).
3. Minutes of the meeting of the Board of Studies in Islamic Finance held on 04-072014(item No. 1)
4. Letter dated 22-07-2014 from the Dean, Faculty of Humanities.
5. Orders of Vice Chancellor in the file of even No. dated 29-07-2014
ORDER
Vide paper read as first above, the Modified Regulations of Choice Based Credit
Semester System for UG Curriculum with effect from 2014 was implemented under the University of
Calicut.
Vide paper read as second above, the Revised CUCBCSS UG Regulations has
been implemented with effect from 2014 admission, for all UG programmes under CUCBCSS in
the University.
Vide paper read third above, the meeting of the Board of Studies in Islamic Finance held on 0407-2014 vide item No. 1 resolved to approve the Scheme and Syllabus of BA Islamic Finance
with Computer Application prepared as per CUCBCSS regulations.
Vide paper read fourth above, the Dean, Faculty of Humanities has remarked that item No. 1 of
the minutes of the meeting of the Board of Studies in Islamic Finance held on 04-07-2014 may be
approved, since the items in the minutes are urgent and to be implemented in the 2014-2015
academic year.
Vide paper read fifth above, the Vice Chancellor, considering the exigency, and exercising the
powers of the Academic Council, has approved the item No. 1 of the Minutes of the meeting of
the Board of Studies in Islamic Finance held on 04-07-2014 , subject to ratification by the
Academic Council.
Sanction has, therefore, been accorded to implement the Scheme and Syllabus of BA
Programme in Islamic Finance with Computer Application under CUCBCSS Regulations with effect
from 2014 Admission onwards.
Orders are issued accordingly.
The Syllabus is uploaded in the University website
Muhammed S
Deputy Registrar
To
The Principals of all affiliated Colleges
Copy to:CE/ Ex Section/ EG Section/ DR and AR BA Branch/ EX IV/Director, SDE/SDE
Exam Wing/ Tabulation Section / System Administrator with a request to upload the
Syllabus in the University website/ GA I F Section/ Library/ SF/ FC/DF
Forwarded / By Order
Section Officer
BA Islamic Finance with Computer Application- Curriculum 2014
Curriculum for
BA ISLAMIC FINANCE
With
Computer Application
(2014-2015 admission onwards)
Under University of Calicut Regulations for Choice Based Credit Semester System for
Under-Graduate Curriculum 2014 (CUCBCSS UG - 2014)
Prepared by
BOARD OF STUDIES IN ISLAMIC FINANCE
UNIVERSITY OF CALICUT
Board of Studies in Islamic Finance, University of Calicut
Page-1
BA Islamic Finance with Computer Application- Curriculum 2014
BA ISLAMIC FINANCE
with
Computer Application
SCHEME AND SYLLABUS
Objectives:
Main objective of the programme is to introduce the emerging area
of Islamic Finance.
To produce skillful hands to meet the requirements of the new
generation banks, insurance companies and security markets.
Understand the fundamental concepts of Islamic economics.
Know the importance of the development of an interest-free
economy to promote socio-economic justice in society.
Describe the underlying principles of Islamic commercial contracts.
Know their applications
Mudarabah).
as
investment
modes
(Musharakah,
Know their applications as financing modes (Ijarah, Murabaha,
Salam, Istisna'a) and as assessor modes (Wakalah, Kafalah,
Hawalah, Jua'lah, Tawarruq and others).
Explain the key operations of Islamic banks and the scope for cooperation between conventional and Islamic financial institutions.
Examine the Islamic financial markets, scope and instruments
including the operations of venture capital, investment funds, units
trusts and sukuk in accordance with Islamic principles.
Discuss the governance and transparency issues in Islamic financial
institutions.
Understand the role of supervision and regulation with particular
emphasis on the role of the Religious Supervisory Board, Shari'ah
compliant audit, accounting and taxation issues.
Describe the procedures to convert interest-based banking
institutions to interest-free Islamic banking and the practical steps
required for establishing an Islamic bank.
Explain Takaful and its rationale as an alternative to conventional
insurance and describe basic elements and operating models for
undertaking takaful business and Re-takaful (Reinsurance).
Board of Studies in Islamic Finance, University of Calicut
Page-2
BA Islamic Finance with Computer Application- Curriculum 2014
ELIGIBILITY CRITERIA
A pass (eligible for higher studies) in the Higher Secondary
Examination
or
its
equivalent
with
at
least
one
commerce/Economics subject, is the eligibility for admission to the
BA Islamic finance degree course. Candidates who have not taken
at least one commerce subject for higher secondary or an
equivalent examination should get at least 18 GPV (in 6 subjects) in
that examination to become eligible to seek admission to BA
Islamic finance course. A concession of 3 GPV will be given to
OBC/OEC candidates. The SC/ST candidates need get only a pass.
BONUS/WEIGHTAGE POINTS
Just like any other degree programmes
INDEXING FOR RANKING
A Weightage of 2.5 points for each commerce subject studied
under plus two level, CBSE, or VHSE under commerce stream,
subject to a maximum of 5 points shall be added to the total GPV.
The management paper of Plus Two, CBSE, VHSE or an equivalent
examination can be considered as commerce subject for indexing
points for admission to BA Islamic Finance course
If there is a tie in the index points, those who studied commerce in
the Plus Two course should get preference. If there is again a tie,
the GPV in the commerce subjects will be considered first, then the
GPV of Economics and then the GPV of English then the GPV of
second language will be considered. Finally the general conditions
are applicable.
GENERAL CONDITIONS
Same as other degree courses
Board of Studies in Islamic Finance, University of Calicut
Page-3
BA Islamic Finance with Computer Application- Curriculum 2014
Board of Studies in Islamic Finance, University of Calicut
Page-4
BA Islamic Finance with Computer Application- Curriculum 2014
BA Islamic Finance with Computer Application
Scheme
Programme at
:
Undergraduate Level
Duration of the Course
:
3 years
System to be followed
:
Semester System
No. of Semesters
:
Six Semesters
Mode of Evaluation
:
Continuous Evaluation
(Assignments, Seminars, Projects, Internal
Examinations
&
End
Semester
Examinations)
System of Evaluation
:
Medium of Instruction
Details of
semester:
Semest
er
:
Grading System
English
Common, Core and Complementary Courses in each
No. of Courses
Common
Core
Complemen
tary
I
3
1
2
II
3
1
III
2
IV
Electi
ve
Total
-
-
6
2
-
-
6
2
2
-
-
6
2
2
2
-
-
6
V
-
4
-
1
VI
-
4
-
1
Total
10
14
8
1
Board of Studies in Islamic Finance, University of Calicut
Proje Ope
ct
n
1
4
1
4
1
32
Page-5
BA Islamic Finance with Computer Application- Curriculum 2014
BA ISLAMIC FINANCE with COMPUTER APPLICATION
DETAILS OF CORSEWISE CREDITS AND HOURS
FIRST SEMESTER
Courses
Code
Course Title
No. of
Credits
Theory
(Hours per
Week)
Max:Marks
Common Coursess
A01
3
4
A02
A07 (2)
3
4
5
4
80(external)
+20(internal)
=100
100
100
6
100
2
3
100
2
3
100
4
5
100
A04
4
4
100
A09
( 02)
4
4
100
6
100
2
3
100
2
3
100
5
100
CORE Courses
IFC IB Management Concepts and
5
Business Ethics
01
Complementary Courses (Taken from other disciplines)
CO1
C01
Essentials of Economics-Micro
Managerial Economics
SECONDSEMESTER
Common Courses
A03
CORE Courses
IFC 2B Basics of Islamic Finance
5
02
Complementary Courses (Taken from other disciplines)
CO1
Essentials of Economics -Macro
C02
Marketing Management
THIRD SEMESTER
Common Courses
A05
4
Board of Studies in Islamic Finance, University of Calicut
Page-6
BA Islamic Finance with Computer Application- Curriculum 2014
A09 (2)
4
5
100
4
5
100
4
100
2
3
100
2
3
100
4
5
100
4
5
100
4
5
4
4
100
2
3
100
2
3
100
Core Coursess
IFC 3B Financial And Corporate Accounting
03
IFC 3B Indian Financial System
4
04
Complementary Courses(Taken from other disciplines)
CO1
C03
Essentials of EconomicsMoney, Banking, Finance and
Trade
E- Commerce Management
FOURTH SEMESTER
Common Courses
A06
A10 (2)
Core Coursess
IFC 4B
05
IFC 4B
06
Business Law &Law Of Islamic Shariah
Cost & Management Accounting
100
Complementary Courses (Taken from other disciplines)
CO1
Essentials of Economics-Indian
Economy
C04
Quantitative Techniques for Business
FIFTH SEMESTER
Core Courses
IFC 5B
07
IFC 5B
08
IFC 5B
09
IFC 5B
10
Business Mathematics& Statistics
6
4
100
Corporate Governance in Islamic Finance
5
4
100
Islamic Micro Finance
5
4
100
Risk Management In Islamic Finance
5
4
100
Board of Studies in Islamic Finance, University of Calicut
Page-7
BA Islamic Finance with Computer Application- Curriculum 2014
OPEN Courses
( TO CHOOSE 1 OUT OF 3)
IFC5
DO1
IFC5
DO2
IFC5
DO3
PROJECT
WORK
Study on Fundamentals of Islamic
finance
3
2
100
Islamic commercial law
3
2
100
Islamic Insurance
3
2
100
Project Work: Designing an Islamic
Finance Product
---
1
100
(To be continued in VIth Sem)
SIXTH SEMESTER
Core Courses
IFC 6B
11
Computerized Accounting with Tally
4
5
100
IFC 6B
12
Islamic Fund Management and Security
Marketing
4
5
100
IFC 6B
13
Corporate Governance in Islamic Finance
4
5
100
IFC 6B
14
Security Analysis & Portfolio
Management (Investment Management)
4
5
100
Islamic Financial Institutions
2
4
100
Study On Islamic Banking System
2
4
100
Marketing of Islamic banking Products
2
4
100
Project Work: Designing an Islamic
Finance Product
4
1
ELECTIVE Courses
( TO CHOOSE 1 OUT OF 3)
IFC 6 E
01
IFC 6
E02
IFC 6 E
03
IFC 6B
16
Total
100
120
3500
Board of Studies in Islamic Finance, University of Calicut
Page-8
BA Islamic Finance with Computer Application- Curriculum 2014
Complementary Courses for other
Programmes
Complimentary Courses prescribed for any BA
Programme approved by the Board of Studies in
Islamic Finance
Islamic Commercial Law and Contract
Semeste
r
Semester
I
Semester
II
Semester
III
Semester
IV
Course
Code
IFC1 C05
IFC2 C05
IFC3 C05
IFC4 C05
Course Title
Islamic commercial Law and Contract – I
Islamic commercial Law and Contract –
II
Islamic commercial Law and Contract –
III
Islamic commercial Law and Contract –
IV
Fundamentals of Islamic Economics
Semeste
r
Semester
I
Semester
II
Semester
III
Semester
IV
Course
Code
IFC1 C06
Course Title
Fundamentals of Islamic Economics – I
IFC2 C06
Fundamentals of Islamic Economics – II
IFC3 C06
Fundamentals of Islamic Economics – III
IFC4 C06
Fundamentals of Islamic Economics – IV
Board of Studies in Islamic Finance, University of Calicut
Page-9
BA Islamic Finance with Computer Application- Curriculum 2014
TITLE OF THE COURSE
CORE 01
Course Code-IFC 1B 01
MANAGEMENT CONCEPTS AND BUSINESS ETHICS
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS
NO. OF CONTACT HOURS
6 hrs/wk
-
1
-
4
Objectives:
 To understand the process of business management and its functions, and
 To familiarize the students with current management practices.
 To understand the importance of ethics in business, and
 To acquire knowledge and capability to develop ethical practices for effective
management
COURSE OUTLINE
Module I 15 hours
Nature and scope of Management; evolution of management- Schools of
management thought;.W.Taylor and Henry Fayol; principles of management;
management as a science and an art; management process.
Module II 15 Hours
Functions of management- planning: types of plan; planning process;
organizing: span of control , line and staff functions ; centralization and
decentralization; delegation; staffing: manpower planning, recruitment,
selection and placemen;; directing: principles of direction; coordinating, and
controlling.
Module III 30 Hours
Manager Vs leader; leadership and motivation; leadership styles; theories of
Motivation. MBO;Management of performance; Understanding and managing
group processes; characteristics of workgroup, work group behavior and
productivity; team creation and management.
Module 1V15 Hours
Ethics, culture and values: Importance of culture in organisations; Indian ethos
and value systems; Model of management in the Indian socio political
environment; Work ethos; Indian heritage in production and consumption.
Module V 15 Hours
Business ethics: Relevance of values in Management; Holistic approach for
managers in decision-making; Ethical Management: Role of organisational
culture in ethics; structure of ethics management; Ethics Committee.
Reference Books:
1. Boatwright, John R: Ethics and the Conduct of Business, Pearson Education,
New Delhi.
2. Sathish Modh: Ethical Management: Macmillan.
3 Koontz, H and Wechrick, H: Management, McGraw Hill Inc, New York.
4 Drucker, Peter, F: Management: Tasks, Responsibilities and Practices, Allied
Publishers, New Delhi.
5. L.N Prasad : Principles of management.
6. R.S Davar ; Management Process
7. Rustum & Davan, Principles and practice of Management.
8. Srinivasan & Chunawalla, Management Principles and Practice.
Board of Studies in Islamic Finance, University of Calicut
Page-10
BA Islamic Finance with Computer Application- Curriculum 2014
CORE 02
Course Code-IFC 2B 02
BASICS OF ISLAMIC FINANCE
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT- 2
NO. OF CREDITS -4
NO. OF CONTACT HOURS - (6hrs/week)
Objective
•
To understand basic fundamentals of Islamic finance
•
For knowing the comparative review of conventional finance and Islamic
finance
COURSE OUTLINE
Module – 1 (15 Hours)
Economic Doctrine of Islam - Introduction and Philosophy - Assumptions of
fundamental principles and their implication - Man and divine guidance: the
role of Quran and Sunnah - Islamic Social Order: Values and ethnics-The
political context of Islamic economics - Capitalism, Communism/Socialism and
Islamic Economic Systems
Module – 2 (30 Hours)
Islamic Banking - Concept and Evolution of Conventional Banking - Evolution
and Development of Islamic Banking - Differences and Similarities between
Islamic and Conventional Banking - Primary Characteristics of Islamic Banks Prohibition of Interest - Low Consumer Lending - Profit and Loss Sharing - High
Real Sector Investing - Dealing in Halal - The value of money Islamically
interpreted - Prohibition of speculation - Sanctity of contracts - Sharia
approved activities - Easy collateral - The Islamilisation of commercial banking
- Islamic banks in western world - Criticism of Islamic banking
Module – 3 (30 Hours)
Principles and Techniques of Islamic Finance - The concept of interest (Riba) Prohibition of Riba (in Islam and Christianity) - Real and notional interest Fixed and viable interest - Interest Vs. Profit - Interest as return - Riba al-Nasial
and al-Fadi - Consumption and production loan.
Financing Techniques – Mudaraba – Musharakah – Murabaha - Ijara and
IjarahMuntahiaBittamleek - Salam and Parallel Salam - Istisna’a.
Module -4 (15 Hours)
Board of Studies in Islamic Finance, University of Calicut
Page-11
BA Islamic Finance with Computer Application- Curriculum 2014
Islamic Financial Institutions - Study of Zakah - Gahr and Khraj - Takaful
IDB: its role, objectives and performance
Islamic Financial Service Board
The international Association of Islamic Banks
Islamic Research and Training Institute
International Centre for Research in Islamic Economics
References
•
Islamic Finance: Law, Economics, and Practice By Mahmoud A. El-Gamal
Cambridge University Press
•
Understanding Islamic Finance By Muhammad Ayub - WILEY Publishers
-----------------------------------------------------------------------------------------------------------
CORE 03
Course Code-IFC 3B 03
FINANCIAL AND CORPORATE ACCOUNTING
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS - 4
NO. OF CONTACT HOURS -(5 hrs/wk)
-
3
Objectives :
Ø To enable the students to acquire knowledge of the financial accounting
principles and practices
Ø To equip the students with skills for recording various kinds of business
transactions
Ø To familiarize the students with the techniques of preparing financial
statements
Ø To help the students acquire conceptual knowledge of the fundamentals of
the
corporate accounting and the techniques of preparing the financial
statements.
COURSE OUTLINE
Module I 20Hours
Introduction - Nature of financial Accounting - scope – objects –limitations –
Accounting
concepts and conventions- Financial accounting standards –Object of
accounting standards –Accounting Standard Board of India and Indian
Accounting Standards - Accounting process from recording of business
transactions to preparation of Trial balance (an overview only).
Module II 15 Hours
Conceptual Frame work for preparation and presentation of financial
statements - Capital, Revenue and deferred revenue expenditure – Capital and
revenue receipts – Final accounts of Sole Proprietor , Final account of
companies and not –for- profit organizations (simple problems only).
Board of Studies in Islamic Finance, University of Calicut
Page-12
BA Islamic Finance with Computer Application- Curriculum 2014
Module III 20 Hours
Accounting for share capital – Issue, forfeiture and Reissue of forfeited shares Redemption of preference shares including buy-back of equity shares - Issue
and Redemption of Debentures.
Module – IV
15 Hours
Bank accounts- General information relating to bookkeeping, ledger section,
register section, slip system of ledger posting, legal requirements affecting
final accounts, specimen form of accounting policies, preparation of profit and
loss accounts, Asset classification, preparation of Balance sheet.
Module- V 20 Hours
Insurance Companies- Commercial and legal back ground of insurance
business, contract of insurance, Book maintained by insurance companies,
Explanation of special terms peculiar to insurance business, Accounts for life
insurance business, types of policies, Annuity business, surrender value, paid
up policy, life insurance fund valuation balance sheet, preparation of final
accounts, Revenue accounts, accounts for general insurance business (as per
the provisions of IRDA Act)
(Theory and problems may be in the ratio of 30% and 70%respectively)
Reference Books:
1. M.C., Shukla, T.S. Grewal and S.C. Gupta: Corporate Accounting, S. Chand
and Co., New Delhi.
2. R.L Gupta, and M Radhaswamy: Corporate Accounting, Sultan Chand and
Sons, New Delhi.
3. Ashok Sehgal and Deepak Sehgal: Advanced Accounting, Volume II,
Taxmann, New Delhi.
4. S.P.Jain and K.L.Narang: Financial Accounting, Kalyani Publilshers, New Delhi.
5. S.N. Maheshwari, and S.K. Maheshwari: Corporate Accounting , Vikas
Publication,
New Delhi.
6. S.N. Maheswari: Financial Accounting
7 Shukla, M.C., T.S. Grewal and S.C.Gupta: Advanced Accounts S.Chand&Co.,
New Delhi.
8. Naseem Ahmed, Nawab Ali Khan and M.L.Gupta: Fundamentals of Financial
Accounting, Ane Books Pvt. Ltd., New Delhi.
9. Grewal and Gupta: Advanced Accounting
5. Dr. Goyal V.K.., Financial Accounting, Excel Books, New Delhi.
10. Radhaswamy and R.L. Gupta: Advanced Accounting, Sultan Chand & Sons,
New DelhI
---------------------------------------------------
Board of Studies in Islamic Finance, University of Calicut
Page-13
BA Islamic Finance with Computer Application- Curriculum 2014
CORE 04
Course Code-IFC 3B 04
INDIAN FINANCIAL SYSTEM
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS - 4
NO. OF CONTACT HOURS
-(4 hrs/wk)
-
3
Objectives:
 To provide basic knowledge about the structure, organization and working of
financial system in India
COURSE OUTLINE
Module I 10Hours
Financial System: Meaning and Significance-Functions of the financial systemFinancial concepts-Financial Assets- Financial markets- Classification-Financial
instruments-weakness of Indian Financial System.
Module II 10Hours
Money market: Definition-Features-Objectives-Features of a developed money
market-Importance of Money market-Composition of Money market- Money
market Instruments-features of Indian money market-Recent developments.
Module III 10 Hours
Primary, Secondary and Capital Markets: New issue market-meaning-functionsmethods floating new issue- intermediaries in the new issue market-merchants
bankers and their functions- Recent trends in new issue market - Stock
Exchanges-Functions.
Module IV 10 Hours
Financial Institutions: commercial banks- development financial institutionsNonbanking financial corporation -Mutual Funds, insurance companies –
Objectives and Functions (only a brief outline).
Module –V 05 Hours
Regulatory Institutions – RBI – Role and Functions. The Securities and
Exchange Board of India-objectives-function-powers- SEBI guidelines for
primary and secondary market.
Reference Books:
1. Kohn, Meir: Financial Institutions and Markets, Tata McGraw Hill.
2. Bhole L.M: Financial Institutions and Markets, Tata McGraw Hill.
3. Desai, Vasantha: The Indian Financial System, Himalaya Publishing House.
4. Machiraju.R.H: Indian Financial System, Vikas Publishing House.
5. Khan M.Y: Indian Financial System, Tata McGraw Hill.
6. Varshney, P.N., & D K Mittal, D.K.: Indian Financial System, Sulthan Chand &
Sons
7. Gordon E. & Natarajan K.: Financial Markets & Services, Himalaya Publishing
House.
8. Pathak, V. Bharati: Indian Financial System, Pearso
CORE 05
Course Code-IFC 4B 05
Board of Studies in Islamic Finance, University of Calicut
Page-14
BA Islamic Finance with Computer Application- Curriculum 2014
BUSINESS LAW& LAW OF ISLAMIC SHARIAH
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS
- 4
NO. OF CONTACT HOURS-(5 hrs/wk)
-
4
Objectives
•
To understand the basics of conventional Business Law
•
To study the fundamentals of Islamic Commercial Law and to make a
comparative study about two concepts.
COURSE OUTLINE
PART – A
BUSINESS LAW
MODULE – 1 (25 hours)
Commercial Contract- Nature and classification of contracts-offer and
acceptance-consideration- capacity of parties-free consent- coercion- undue
influence – misrepresentation- fraud- mistake- void agreements- discharge of
contract- breach of contract and remedies-contingent contracts-quasicontracts – contract of Guarantee – Agency – Mortgage.
MODULE – 2 (15 hours)
Sale of Goods Act, 1930-Contract for sale of goods-Meaning – essentials of a
contract of sale – Conditions and Warranties- caveat emptor-sale by non
owners- rules as to delivery of goods- auction sale -rights of unpaid seller.
PART - B
LAW OF ISLAMIC SHARIAH
MODULE -3 (15 hours)
Fundamentals of Shariah for Islamic Finance Practitioners: Sources of Shariah Objectives of Shariah - Operatives legal maxims Definitions of assets in
Shariah - Rules of ownership in Shariah - Essentials of Shariah compliant
contracts - Prohibited elements in Shariah: Riba, Gharar, Haram products and
activities.
MODULE – 4 (25 hours)
Nature of Islamic Business/Financial Contracts: Intermediation contract –
Mudaraba - Kitala (Guarantee) – Takaful - Wakala (Agency contract) - Juala Hawala (Transfer) - Rahn (Mortgage) - Transaction Contract– Mudaraha - Bay
Salam - Bay Mua’ajal – Ijara – Istisna – Musharaka - Wa’d (Promise) - Muwada
or Mua’hida (Agreement)
MODULE – 5 (10 hours)
Board of Studies in Islamic Finance, University of Calicut
Page-15
BA Islamic Finance with Computer Application- Curriculum 2014
Legal Practices in the Islamic Financial Industry - Shariah principles influencing
regulatory framework for Islamic finance - Foundations of adequate and
efficient Islamic finance environment .
Focused Shariah Council (FSC) - Strong and harmonized legislation - Legal
issues to consider in structuring Shariah compliant products.
References
Elements of Mercantile Law – N D Kapoor
Mercantile Law – M C Shukla
Islamic Commercial Law By Muhammad Yusuf Saleem – WILEY Publishers
-------------------------------------------------------------------------------------------------------------------
Board of Studies in Islamic Finance, University of Calicut
Page-16
BA Islamic Finance with Computer Application- Curriculum 2014
CORE 06
Course Code-IFC 4B 06
COST AND MANAGEMENT ACCOUNTING
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS
- 4
NO. OF CONTACT HOURS
(4 hrs/wk)
-
4
Objectives:
 To familiarise students with the various concepts and element of cost.
 To create cost consciousness among the students.
 To enable the students to understand the concept and relevance of
management
Accounting
 To provide the students an understanding about the use of accounting and
costing
data for planning, control and decision taking.
COURSE OUTLINE
Module I 10 Hours
Introduction :- Definition – Meaning and Scope – Objectives – Functions – Merits
and Demerits – Cost Accounting and Financial Accounting-Cost classification –
Elements of cost – cost unitscost centre – Types , Methods and Techniques of
Costing – cost sheet
Module II 20 Hours
Materials :- Importance of Material cost control – Purchase procedure – store
control – types of store – stores records – perpetual inventory – ABC analysis –
VED analysis – JIT inventory – stock levels - EOQ issue of materials – FIFO, LIFO,
simple and weighed average methods. Labour :- Importance of Labour Cost
Control – Time keeping and Time Booking – Idle Time – Over Time –
Computation of Labour Cost – renumeration systems and incentive schemes
Overheads :- Definition – Overhead allocation – Apportionment - Re
apportionment – Direct distribution – Step Ladder – Reciprocal service methods
– repeated distribution and simultaneous equation methods Absorption of
overheads – methods of absorption – Labour Hour Rate and Machine Hour Rate
Module III 10Hours
Budgetary Control: Budget and Budgetary Control –Need and Importance –
Types of Budgets – Preparation of Financial Budget- Flexible Budget and Fixed
Budget –ZBB – Programme and Performance Budgets.
Module IV 05 Hours
Management Accounting –Nature and Scope – Difference between Cost
Accounting, Financial Accounting and Management accounting – Recent Trends
in Management Reporting.
Module V 20 Hours
Analysis and Interpretation of financial Statement: - Meaning- Types and
Methods of Financial Analysis – Comparative statements – Trend Analysis –
Common size statements (a general discussion only). Ratio Analysis: - Meaning
–Nature – uses and limitations of Ratios –liquidity, profitability, Turnover
,Solvency, Leverage, Market test ratios – Constructions of Financial Statements
from ratios –Judgment of financial stability through ratios –(Stress to be given
to problem solving and interpretation skills )
Module VI 15 Hours
Funds Flow and Cash Flow Analysis:
Board of Studies in Islamic Finance, University of Calicut
Page-17
BA Islamic Finance with Computer Application- Curriculum 2014
a. Funds Flow Statements : Meaning and concept of fund – Current and NonCurrent
Accounts – Flow of Fund –Preparation of Funds flow statements –
uses and
significance
b. Cash Flow Statement : Difference between fund flows statement and cash
flow
statements – Preparation of cash flow statements as per AS3 Norms –
Direct and
Indirect methods.(Stress to be given to problems)
Module VII10Hours
Managerial decision making with the help of C.V.P. Analysis : Marginal CostingFixed Cost, Variable Cost, Contribution, P/V ratio, Break Even Analysis –
Algebraic and Graphic presentation – Decision making: Fixation of Selling Price
– Exploring new markets – make or buy-key factor – Product Mix – Operate or
Shutdown (Theory and problems may be in the ratio of 40% and
60%respectively)
Reference Books:
1.
N.K. Prasad: Cost Accounting
2.
Nigam & Sharma: Cost Accounting
3.
Khanna Pandey & Ahuja: Practical Costing
4.
M.L. Agarwal: Cost & Managemt Accounting
5.
Jain & Narang: Cost Accounting
6.
S.P. Iyengar: Cost Accounting
7.
S.N. Maheshwari: Cost & Management Accounting
8.
Horngren: Cost Accounting: A Managerial Emphasis
9.
M. N. Arora: Cost Accounting
10.
Dutta: Cost Accounting
11.
Sexana: Management Accounting
12.
Made Gowda: Management Accounting
13.
Dr. S.N. Goyal and Manmohan: Management Accounting
14.
B.S. Raman: Management Accounting
--------------------------------------------------------------------------------------------------
CORE 07
Course Code-IFC 5B 07
BUSINESS MATHEMATICS AND STATISTICS
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHTNO. OF CREDITS - 4
NO. OF CONTACT HOURS
(4 hrs/wk)
4
Objective:
1-The objective of this course is to familiarize students with the
applications of
2-mathematics and statistical techniques in business decisions
process.
COURSE OUTLINE
PART – A: Business Mathematics
Board of Studies in Islamic Finance, University of Calicut
Page-18
BA Islamic Finance with Computer Application- Curriculum 2014
Module – 1 Matrices and Determinants - Definition of a matrix - Types of
matrices – Algebra of matrices - Calculation of values of determinants up to
third order - Adjoint of a matrix - Elementary row operations - Finding inverse
of a matrix through adjoint and elementary row operations - Applications of
matrices for solution to simple business and economic problems.
Module – 2 Calculus - Mathematical functions and their types – linear,
quadratic, polynomial, exponential and logarithmic - Concepts of limit, and
continuity of a function - Concept of differentiation - Rules of differentiation –
simple standard forms
(involving one variable) - Applications of differentiation – elasticities of demand
and supply - Maxima and minima of functions (involving second or third order
derivatives) relating to cost and revenue - Integration and its applications to
business and economic situations.
Module -3- Basic Mathematics of Finance: Simple and compound interest Rates of interest – nominal, effective and continuous – and their interrelationships - Compounding and discounting of a sum using different types of
rates.
PART – B : Business Statistics
Module – 4 -Introduction to statistics - Descriptive Statistics for univariate
data - Preparation of frequency distributions including graphic presentations
Measures of Central Tendency Arithmetic mean, Geometric mean and
Harmonic mean :Properties and applications - Positional Averages :
Mode and median and other partition values - quartiles, deciles, and
percentiles (including graphic determination) - Measures of Variation: absolute
and relative.
Range, quartile deviation, mean deviation, standard deviation, and variance
Module – 6 -Correlation and Regression Analysis Correlation : Meaning,
Correlation using scatter diagram - Karl Pearson's co-efficient of correlation:
calculation and properties. Regression Analysis : Linear regression defined Regression equations and estimation.
Module – 7Index Numbers - Meaning and uses of index numbers. Construction
of index numbers: fixed and chain base; univariate and composite.
Aggregative and average of relatives – simple and weighted. Tests of adequacy
of index numbers. Construction of consumer price indices.
Referances
1. E.T. Dowling, Mathematics for Economics, Schaum’s Outlines Series,
McGraw Hill Publishing Co.
2. Mizrahi and Sullivan, Mathematics for Business and Social Sciences, John
Wiley and Sons
3. V.K. Kapoor, Essentials of Mathematics for Business and Economics, Sultan
Chand
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Board of Studies in Islamic Finance, University of Calicut
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BA Islamic Finance with Computer Application- Curriculum 2014
CORE 8
Course Code-IFC 5B 08
CORPORATE GOVERNANCE IN ISLAMIC FINANCE
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
-5
NO. OF CREDITS - 4
NO. OF CONTACT HOURS
(4 hrs/wk)
Objective
•
To understand the importance of corporate governance in different kinds
of business organization.
•
To describe the ethical elements of Islamic Finance
COURSE OUTLINE
Module – 1 (15 hours)
-Corporate Governance– concepts – scope – the
significances of constitutions for corporate entities - difference between
governance and management – corporate governance in sole trading concern,
partnership and companies.
Module – 2 (20 hours)
-International Corporate Governance Guidelines
[including SEC guidelines] and their applicability to Islamic Banks - Corporate
Governance at IFIs - Corporate Governance In Islam - Corporate Governance
processes and policies in Islamic Banks - Guiding principles for Corporate
Governance at Islamic Banks.
Module – 3 (20 hours) -The Shariah Supervisory Board - Fit and proper
requirements and the selection process - Internal Shariah Advisor/Officer Roles and Responsibilities - Monitoring, reporting and Audit structures
Assessment of effectiveness - Separation of parties (Shareholders Vs.
Management)
Module – 4 (20 hours) -Conventional Banking Regulation and Supervision
requirement [ BASEL, BOFIA,etc Principles and Guidelines] - Microfinance Legal
Frameworks, Regulations and Policy - How the overall regulatory framework
affects the integrations of microfinance institutions into the financial system Banking regulation and supervisions in an Islamic framework - Information
disclosure
The Role, Functions and Challenges Of Central Banks In Regulation And
Supervision Of Islamic Banks.Comparative Study of Islamic Banking And
Islamic Banking Regulations And Supervisions in U.K ,Malaysia - Shariah
Advisory Board quality of Islamic Banking Supervision and Regulation.
Reference
Corporate Governance: Principles, Policies and PracticesBy Bob Tricker – Oxford
Publications
An Islamic Perspective on GovernanceByZafarIqbal, ZafarIqbal, Mervyn Lew
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Board of Studies in Islamic Finance, University of Calicut
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BA Islamic Finance with Computer Application- Curriculum 2014
CORE 09
Course Code-IFC 5B 09
ISLAMIC MICRO FINANCE
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS - 4
NO. OF CONTACT HOURS
(4 hrs/wk)
- 5
Objective
•
To know the role of micro finance in the financial sector.
•
To understand the micro finance aspects of Islamic banking.
COURSE OUTLINE
Module – 1 (20 hours)-Introduction to Microfinance - Definitions vis-à-vis
microfinance and microcredit - From moneylenders to Microfinance: History,
and recent development.
The Demand for Microfinance Services - Credit: Consumption and Productive –
Savings - Insurance Remittances - Housing Finance - Microleasing, etc. The
Supply of Microfinance Services - Microfinance Institution -
NGOs - Bank
Linkages -Microfinance Delivery Models [GREMEEN, ASA, BRAC].
Islamic aspects of micro finance
Module – 2 (20 hours)
Concept of Marketing in Microfinance - Application of 5Ps of marketing Marketing Ethics in Islamic Banking - Qualities and criteria of IB marketing
personnel - Packaging Islamic Microfinance Products - Success factors in
marketing Islamic Microfinance Products - Uniqueness of Islamic Microfinance
Products - Effective ways in marketing of Islamic Microfinance Products Building Customer Relations and Care - Effective communication with
Customers - Managing difficult customers
Module – 3 (15 hours)
Risk Management in Microfinance - Types of risks faced by MFI - Measuring the
different risk exposures MFI - Developing and implementing strategies for risk
management for MFIs
Module – 4 (20 hours)
Board of Studies in Islamic Finance, University of Calicut
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BA Islamic Finance with Computer Application- Curriculum 2014
Transformation of Microfinance from Conventional to Islamic Operations Defining transformation and its imperative for MFI - Factors leading to the need
for MFIs to transform - Legal alternatives for transformation - Institutional
changes necessitated by transformation - Changes faced by transforming MFIs
Reference
An Islamic Microfinance Enterprise: The Financial Vehicle That Will Change the
Face of the Islamic World, The Power of Salam Financing by BySaad Al-harran,
Dr., Alfred Yong FohSen, Sri Anne Haji Masri.
An Introduction to Islamic Microfinance" - Dr. M. Obaidullah
--------------------------------------------------------------------------------------------------------------------
CORE 10
Course Code-IFC 5B 10
RISK MANAGEMENT IN ISLAMIC FINANCE
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 5
NO. OF CREDITS - 4
NO. OF CONTACT To understand various types of risks in Islamic finance
•
To study the techniques of risk management in the Islamic finance
institutions.
COURSE OUTLINE
Module – 1
Control and Risk Assessment in Islamic Financial Institutions
Basic principles of risk management - The concept of risk in Islam - Types of
risks - Business risks – displaced commercial risk, withdrawal risk, solvency
risk - Governance risk-fiduciary risk, operational risk, transparency risk Transaction risk – credit risk, market risk, mark-up risk, PLS risk - Treasury
risks-assets and liability management, liquidity risk, hedging risk - Systemic
risks-regulatory risk, business environment risk, institutional risk, reputational
risk.
Module – 2
Mitigating risk through third party guarantees - The Methodology of analyzing
risk in IFI transactions - Risk Management in Microfinance - Types of risks faced
by MFIs - Measuring the different risk exposures MFIs - Developing and
implementing strategies for risk management for MFIs
Module – 3 -Risk Profile: Analysis
Board of Studies in Islamic Finance, University of Calicut
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BA Islamic Finance with Computer Application- Curriculum 2014
Analyzing Risk Profiles in Equity-based instruments - Detecting risk in
Mudaraba, Wadia and Amana products - Comparing Mudaraba-based products
with conventional products - Identifying the risks in Mudaraba structuring Risk weighing for Mudaraba structures - Identifying key methods of risk
management for Mudaraba - Analyzing Risk Profiles of Musharaka and
Diminishing Musharaka - Detecting risk in Musharaka and Musharaka
Diminishing - Reviewing the structures of Musharaka and Diminishing
Musharaka - Managing the risk in Musharaka and Diminishing - Risk profile of
Musharaka and Diminishing - Analyzing Risk Profiles in Sale-based Instruments
Detecting risk in Murabaha
Module – 4
Identifying the risks - Managing the risks - Analyzing Risk Profiles in Leasebased Instruments Detecting risk in Ijara - Reviewing alternative Ijara
structures - Risk Profiling of Ijara structure
Disclosure and management of Ijara - Analyzing Risk Profiles in Forward Sale
Instruments - Reviewing alternative Salam and Istisna structures - Risk
profiling of Salam structures - Risk profiling of Istisna structures - Disclosure
and management
Reference
Economic enterprises in Islam – Najathulla Siddiqui.
-------------------------------------------------------------------------------------------------------------------
PROJECT WORK : DESIGNING AN ISLAMIC FINANCE
PRODUCT
(To be continued in VI th semester)
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS
- -----
- 5
-----------------------------------------------------------------------------------------------------------------
CORE 11
Course Code-IFC 6B 11
COMPUTERISED ACCOUNTING WITH TALLY
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS
- 4
NO. OF CONTACT HOURS
(5 hrs/wk)
- 6
Objective:
To enable the students to acquire basic knowledge in the computerised
accounting systems and its applications in the area of business.
COURSE OUTLINE
Module I 10hours)
Board of Studies in Islamic Finance, University of Calicut
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BA Islamic Finance with Computer Application- Curriculum 2014
Introduction to accounting - accounting basis and terms - branches of
accounting - mode of accounting - manual accounting - computerized
accounting fundamentals.
Module II (10 Theory hours and 10 practical hours)
Accounting with Tally - Introduction to Tally - tally interface - f11 features-f12
configuration - company creation - accounting groups - accounting ledgers accounting vouchers – vouchers entry.
Module III (10 Theory hours and 10 practical hours )
Inventory management with tally - stock groups - stock items - stock category
- unit of measures– godown inventory vouchers (Pure inventory and inventory
vouchers)
Module IV (15 theory hours and 5 practical hours )
Accounting and inventory reports - Trading, Profit and loss A/c - balance sheet ledgers cost centre and budget reports - cash book and bank book - inventory
reports - Decision supporting tools - Ratio analysis - cash flows - fund flowbudgeting system - printing of reports – voucher and bill printing etc.
Module V (15 theory hours and 5 practical hours)
Technology advantage of Tally - Tally audit - Tally vault-back up, restore, merge
and split o fdatabase - ODBC interface - export and import of data - web
enabled reporting - online support of software.
Reference Books
1.A.K. Nadhani and K.K. Nadhani – Implementing Tally 6.3, I/e BPB
Publications; New Delhi
2. Namrata Agarwal – Tally 6.3; 2004 edition; Dream Tech; New Delhi
3. Tally, Sridharan, Narmadha publications, May 2
-------------------------------------------------------------------------------------CORE 12
Course Code-IFC 6B 12
ISLAMIC FUND MANAGEMENT AND SECURITRY
MARKETING
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS - 4
NO. OF CONTACT HOURS (5 hrs/wk)
- 6
Objective
•
To overview the concepts of fund management in Islamic Finance.
•
To study the different kinds of securities in the Islamic finance.
COURSE OUTLINE
Module – I
Board of Studies in Islamic Finance, University of Calicut
Page-24
BA Islamic Finance with Computer Application- Curriculum 2014
Introduction: Nature, scope and objectives of financial management - Time
value of money and mathematics of Finance - Concept of risk and return.
Working Capital Management: Meaning and nature of working capital Determination of
working capital requirement - A brief overview of Cash management, Inventory
management and Receivables management.
(Theory and problems may be in the ratio of 50% and 50%respectively)
Module – 2 -Islamic Asset and Fund Management - Islamic Perspective of
Wealth - Purpose of Investment in Islam - Prohibited Industries and their
Problems - The Islamic Stock selection process and the role of the Shariah
Supervision Board - The Crisis in Global Wealth Management, US and Asia
experience
Module – 3-Islamic Capital Market Instruments - The hierarchy of capital
markets: where do Islamic products - Islamic position in conventional stock
market - Islamic investment purification principles.
Commodity Murabaha - Islamic leasing - Islamic Equity Market Funds - Real
Estate Investment Trusts - Islamic Hedge Funds - Islamic Rating Systems Islamic Market Indices - Dow Jones Islamic Market index (DJIM) - FTSE Global
Islamic Index Series - Factors affecting innovation in Islamic Banking and
Capital Market
Module – 4 -Islamic Securitization - Securitization for conventional banking
products - Securitization for Islamic Banking Products - The driving forces
behind securitization - What are the Shariah requirements for securitization?
Module – 5 -Islamic Bonds (Sukuk) - Sukuk basis - How have Sukuk evolved How do Sukuk differ from conventional bonds - AAOIFI Sukuk standards Alternative Sukuk structure - Sukuk and the private sector - Rating Sukuk Risks associated with Sukuk
Reference
1.Horne, J.C. Van: “Financial management and policy”,Prentice Hall of India
New Delhi.
2.Khan and Jain:“Financial Management text and problems ”,Tata McGrawHill
New Delhi
3. Pandey, I.M: “Financial Management”, Vikas Publications.
4. Bhalla, V.K.: “Financial Management & Policy,” Anmol Publications, Delhi
5. Chandra, P: “Financial Management- theory and practice”, Tata Mc Graw
Hill.
6 Singh, J.K.: “Financial Management- text and Problems”, Dhanpat Rai and
Company,
Delhi.
--------------------------------------------------------------------------------------------------------------------
CORE13
Course Code-IFC 6B 13
CORPORATE GOVERNANCE IN ISLAMIC FINANCE
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
Board of Studies in Islamic Finance, University of Calicut
- 6
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BA Islamic Finance with Computer Application- Curriculum 2014
NO. OF CREDITS - 4
NO. OF CONTACT HOURS - (5hrs/wk)
Objective
•
To understand the importance of corporate governance in different kinds
of business organization.
•
To describe the ethical elements of Islamic Finance
COURSE OUTLINE
Module – 1 (15 hours)
-Corporate Governance– concepts – scope – the
significances of constitutions for corporate entities - difference between
governance and management – corporate governance in sole trading concern,
partnership and companies.
Module – 2 (20 hours)
-International Corporate Governance Guidelines
[including SEC guidelines] and their applicability to Islamic Banks - Corporate
Governance at IFIs - Corporate Governance In Islam - Corporate Governance
processes and policies in Islamic Banks - Guiding principles for Corporate
Governance at Islamic Banks.
Module – 3 (20 hours) -The Shariah Supervisory Board - Fit and proper
requirements and the selection process - Internal Shariah Advisor/Officer Roles and Responsibilities - Monitoring, reporting and Audit structures
Assessment of effectiveness - Separation of parties (Shareholders Vs.
Management)
Module – 4 (20 hours) -Conventional Banking Regulation and Supervision
requirement [ BASEL, BOFIA,etc Principles and Guidelines] - Microfinance Legal
Frameworks, Regulations and Policy - How the overall regulatory framework
affects the integrations of microfinance institutions into the financial system Banking regulation and supervisions in an Islamic framework - Information
disclosure
The Role, Functions and Challenges Of Central Banks In Regulation And
Supervision Of Islamic Banks.Comparative Study of Islamic Banking And
Islamic Banking Regulations And Supervisions in U.K ,Malaysia - Shariah
Advisory Board quality of Islamic Banking Supervision and Regulation.
Reference
Corporate Governance: Principles, Policies and PracticesBy Bob Tricker – Oxford
Publications
An Islamic Perspective on GovernanceByZafarIqbal, ZafarIqbal, Mervyn Lew
-------------------------------------------------------------------------------------------------------------------
CORE 14
Course Code-IFC 6B 14
SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT
(Investment Management)
Board of Studies in Islamic Finance, University of Calicut
Page-26
BA Islamic Finance with Computer Application- Curriculum 2014
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
- 6
NO. OF CREDITS
- 4
NO. OF CONTACT HOURS
(5 hrs/wk)
Objectives:
 To familiarize the students with the world of investments.
 To provide a theoretical framework for the analysis and valuation of
investments.
COURSE OUTLINE
Module I
18 Hours
The Investment Environment: The investment decision process - Types of
Investments Commodities, Real Estate and Financial Assets - security market
indices Sources of financial information - Concept of return and risk.
Module II 10 Hours
Fixed Income Securities: Bond features - types of bonds - estimating bond
yields - types of bond risks - default risk and credit rating –Bond valuation
Module III 20 Hours
Approaches to Security Analysis: Fundamental Analysis - Technical Analysis
and Efficient Market Hypothesis - dividend capitalisation models - price
earnings multiple approach to equity valuation.
Module IV 17 Hours
Portfolio Analysis and Financial Derivatives: Portfolio and Diversification
-Portfolio Risk and Return – Introduction to Financial Derivatives - Financial
Derivatives Markets in India.
Module V 10 Hours
Investor Protection: SEBI & role of stock exchanges in investor protection
-investor grievances and their redressal system - insider trading - investors’
awareness and activism.
(Theory and problems may be in the ratio of 50% and 50%respectively)
Reference Books:
1. Donald E. Fisher and Ronald J. Jordan: “Securities Analysis and Portfolio
Management”, Prentice Hall, New Delhi.
2. S. Kevin: Security analysis and portfolio Managmennt
3. Sourain, Harry: “Investment Management”, Prentice Hall of India.
4. Francis and Archer: “Portfolio Management”, Prentice Hall of India.
5. Gupta L.C.: Stock Exchange Trading in India; Society for Capital Market
Research
and Development, Delhi
CORE 15 PROJECT WORK : DESIGNING AN ISLAMIC
FINANCE PRODUCT
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS - 4
- 6
Project Work
During the sixth semester every student shall do a project. The
student may choose any topic from the subjects he/she has
studied.
Board of Studies in Islamic Finance, University of Calicut
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BA Islamic Finance with Computer Application- Curriculum 2014
The candidate shall prepare and submit a project report to the
Department.
The report shall be printed and spiral bound with not less than 50
A4 size pages.
The project report should be submitted to the Head of the
Department one month before the last working day of the sixth
semester.
Project work shall have the following stages
o Project proposal presentation
o Field work and data analysis
o Report writing
o Draft project report presentation
o Final project report submission
The project can be done individually.
The candidate shall prepare at least two copies of the report: one
copy for submission to the Department and one copy for the
student which he/she has to bring with him/her at the time of viva
voce. More copies may be prepared If the organization or the guide
or both ask for one copy each.
Duration of project work
The duration for project work is 3 weeks.
A certificate showing the duration of the project work shall be
obtained from the supervising teacher or from the organization for
which the project work was done and it shall be included in the
project report.
Structure of the report
Title page
Certificate from the organization (for having done the project work)
Certificate from guide
Board of Studies in Islamic Finance, University of Calicut
Page-28
BA Islamic Finance with Computer Application- Curriculum 2014
Acknowledgements
Contents
Chapter I: Introduction (Organization profile, Research problem,
Objectives of the study, Research methodology etc.)
Chapter II: Review of literature
Chapters III and IV: Data Analysis (2 or 3 chapters)
Chapter V: Summary, Findings and Recommendations.
Appendix: (Questionnaire, specimen copies of forms, other exhibits
etc.)
Bibliography (books, journal articles etc. used for the project work).
Evaluation of project report
The project report shall be subject to internal and external
evaluation. The internal evaluation shall be carried out by the
supervising teacher and external evaluation by the examiners
appointed by the University inclusive of Viva-voce examination.
Board of Studies in Islamic Finance, University of Calicut
Page-29
BA Islamic Finance with Computer Application- Curriculum 2014
COMPLEMENTARY COURSES
The syllabi for complimentary courses of
Economics (UG) and Commerce (UG)
are
prepared by respective boards of studies.
Course codes
-----------------------Complimentary Courses of BA Economics
Essentials of Economics
–4 Courses
C01-Essentials of Economics-Micro
C01-Essentials of Economics-Macro
C01-Essentials of Economics-Money, Banking,
Finance and Trade
C01-Essentials of Economics-Indian Economy
Complimentary Courses of B.Com
–4 Courses
C01 MANAGERIAL ECONOMICS
C02 MARKETING MANAGEMENT
C03 E-COMMERCE MANAGEMENT
C04 QUANTITATIVE TECHNIQUES FOR BUSINESS
--------------------------------------------------------SYLLABI FOR COMPLIMENTARY COURSES
approved by the Board of Studies in Commerce (UG)
(Ref. U.O.No. 6747/2014/Admn
15.07.2014)
Dated, Calicut University.P.O,
C01 MANAGERIAL ECONOMICS
Lecture Hours per week : 5
Objectives:
To enable the students to
Credits : 4
Internal : 20, External : 80
micro and macroeconomic concepts
Board of Studies in Islamic Finance, University of Calicut
Page-30
BA Islamic Finance with Computer Application- Curriculum 2014
understand
for business decisions.
To help the students to
understand
business management.
Module I
relevant
the Application of economic principles
in
Introduction - Definition of Managerial Economics - Objectives Characteristics - Uses - Decision making and forward planning - Basic
economic tools in management economics.
08 Hours
Module II
The Concept of Demand and Elasticity of Demand - Demand curve:
Individual demand curve - Market demand curve - Movement along Vs
shifts in the Demand curve - Elasticity of Demand: Price, Income and
cross - Demand estimation and demand forecasting - Concept of
Revenue: Average Revenue and Total Revenue - Marginal Revenue and
Incremental Revenue.
12 Hours
Module III
Production: Fixed and Variable inputs - Production function - Total,
Average and Marginal Product - Law of variable proportions - Linear
homogeneous production function - Production isoquant - Marginal rate
of technical substitution - Optimal combination of resources - Return to
scale - Cost of production - Social and private cost of production Difference between economic and accounting cost - Long run and short
run cost of production - Economies and diseconomies of scale.
20 Hours
Module IV
Price and Output Decisions Under Different Market Structures: Price and
output decisions under perfect competition, monopoly and monopolistic
competition - Pricing under oligopoly - Kinked demand curve - Price
leadership - Pricing under collusion.
10 Hours
Module V
A. Pricing Policies and Practices: Factors governing prices - Objectives
of pricing policy
Role of cost in pricing - Demand factor in pricing - Consumer psychology
and
pricing - Pricing methods: Cost-plus or full-cost pricing - Target pricing Board of Studies in Islamic Finance, University of Calicut
Page-31
BA Islamic Finance with Computer Application- Curriculum 2014
Marginal cost pricing - Going rate pricing - Follow up pricing - Barometric
pricing - Customary prices - Pricing of new products: Penetrating pricing Price skimming.
B. Macro Economics and Business Decisions: Phases of Business cycle Evil effects of cyclical fluctuations on business firms - Minimising
effects of Business cycles - Economic Forecasting for business:
Economic and Business forecasting - Uses of economic forecasts Methods of economic forecasting - Selecting a forecast - Evaluating
forecasts.
25 Hours
Reference Books:
1. R.L. Varshney and K.L. Maheswari, Managerial Economics
2. D.N. Dwivedi, Managerial Economics
3. Dr. S. Sankaran, Managerial Economics
4. DM Mithani: Business Economics
5. Seth M L Text Book of Economic Theory
6. K K Dewett: Economic Theory
7. Petersen &. "Lewis: Managerial Economics
8. Mote V L peul. S & Gupta G S: Managerial Economics
9. H. Craig Petersen & W. Cris lewis: Managerial Economics
10 Dr. P.N. Reddy and H.R, Appanaiah : Essentials of Business Economics
11 Barry Keating and J. Holton Wilson: Managerial Economics
-----------------------------------------------------------------------------------------------------------------------
C02 MARKETING MANAGEMENT
Lecture Hours per week: 5
Credits:
4
Internal : 20, External
: 80
Objectives:
Board of Studies in Islamic Finance, University of Calicut
Page-32
BA Islamic Finance with Computer Application- Curriculum 2014
To provide basic knowledge about the concepts, principles, tools
and techniques of marketing.
To impart necessary knowledge which help the student to choose a
career in the field of marketing.
To expose the students to the latest trends in marketing.
Module I
Marketing: Meaning and definition - Scope and importance - Evolution of
marketing concepts -Modem concept of marketing - Marketing mix Marketing environment - Consumer behaviour -Buying motives Consumer buying process - Factors influencing consumer buying
decision -Market segmentation - Basis-target marketing - Product
positioning - Importance and bases
20 Hours
Module II
Product: Meaning and importance – Classification - Concept of product
mix – Packaging - Branding - Brand loyalty and brand equity – Labeling Product life cycle - New product development – Pricing - Factors
influencing product price - Pricing policies and strategies
15 Hours
Module III
Physical distribution: Meaning and importance - Levels of marketing
channels - Wholesaling and retailing - Types of retailing - Factors
influencing choice of distribution channel
10 Hours
Module IV
Promotion: Meaning and importance - Promotion mix – Advertising Personal selling – Sales promotion - Public relation - Factors affecting
promotion mix decisions
10 Hours
Module V
Rural Marketing : Growing importance - Unique features of rural markets
- Market mix planning for rural market - Service marketing Vs. product
marketing - Green marketing - Social marketing - Relationship marketing
- Niche marketing
15 Hours
Module VI
E-Marketing: Traditional marketing Vs. E-marketing - Internet marketing E- advertising - New trends in internet marketing – E-branding - Epayment systems and security features in internet.
05 Hours
Board of Studies in Islamic Finance, University of Calicut
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BA Islamic Finance with Computer Application- Curriculum 2014
Reference Books:
1. Marketing Management, S.A. Sherlakar ,. Himalaya.
2. Fundamentals of Marketing, William J Stanton, Me Graw Hill Publishing
Co, New York
3. Marketing by Lamb. Hair, Me Danniel - Thomson.
4. Marketing by Evans &. Berman, 2/e, Biztantra.
5. Marketing - Concepts, strategies by William M Pride. O C Fewell.
Biztantra.
6. Marketing Management, Ramaswamy & Namakumari, Macmillan.
7. Marketing Management, Arun Kumar & "Meenakshi. Vikas.
8. Principles of Marketing, Philip Kotler, Armstrong, Pearson Education.
Board of Studies in Islamic Finance, University of Calicut
Page-34
C03 E-COMMERCE MANAGEMENT
Lecture Hours per week: 5
Objectives:
Credits
:4
Internal : 20,
External : 80
To enable the student to understand basics of E - Commerce
To Gain a practical orientation to E-Commerce and E- Business
management
Module I
•
•
Introduction to E- commerce : Meaning and concept - E – commerce V/s
Traditional Commerce - E- Business & E- Commerce - History of E Commerce - EDI - Importance , features & benefits of E- Commerce Impacts. Challenges & Limitations of E-Commerce - Supply Chain
Management & E – Commerce
15 Hours
Module II
Business Models of E - Commerce: Business to Business - Business to
customers - Customers to customers - Business to GovernmentBusiness to employee - E- Commerce strategy -Influencing factors of
successful E- Commerce - E-Business Infrastructure -The internet
-Intranets and Extranets - World Wide Web - Voice over IP (VoIP) - The
Internet Standards - The HTTP Protocol - Audio and Video Standards Managing E- Business Infrastructure - Web services - New access
devices - Future of the internet infrastructure.
25 Hours
Module III
Marketing strategies & E- Commerce : Website - Components of website
- Concept & Designing website for E- Commerce - Corporate Website Portal - Search Engine - Internet Advertising - Emergence of the internet
as a competitive advertising media - Models of internet advertising Weakness in Internet advertising - Mobile Commerce.
15 Hours
Module IV
Electronic Payment System : Introduction - Online payment systems Prepaid and postpaid payment systems - E- cash - E- Cheque - Smart
Card - Credit Card - Debit Card - Electronic purse - Security issues on
electronic payment system - Solutions to security issues - Biometrics Types of biometrics.
15 Hours
Module V
Legal and Ethical Issues in E- Commerce: Security issues in ECommerce - Regulatory frame work of E- commerce.
05 Hours
Reference Books:
1. Turban,
Efraim, David King et. el.: Electronic Commerce: A
Managerial Perspective, Pearson Education Asia, Delhi.
2. Dave Chaffey: E-Business and E-Commerce Management, Pearson
Education.
3. Kalakota, Ravi: Frontiers of Electronic Commerce, Addison – Wesley,
Delhi.
4. Rayport,
Jeffrey F and Jaworksi, Bernard J: Introduction to ECommerce, Tata McGraw Hill,
New Delhi.
5. Smantha Shurety: E-Business with Net Commerce, Addison - Wesley,
Singapore.
6. Rich, Jason R: Starting an E-Commerce Business, IDG Books, Delhi.
7. Laudon, Kenneth C and Carol Guercio Traver: E-Commerce Business,
Technology, Society,
Pearson Education, Delhi.
8. Stamper
David
A,
and
Thomas
Communications, Pearson Education,
L.Case:
Business
Data
New Delhi.
William Stallings: Business Data Communications, Pearson Education,
New Delhi
C04 QUANTITATIVE TECHNIQUES FOR BUSINESS
Lecture Hours per week : 5Credits : 4
Internal : 20 , External : 80
Objective :
· To familiarize student with the use quantitative techniques in
managerial decision making.
Module I
Quantitative Techniques – Introduction - Meaning and definition –
Classification of QT - QT and other disciplines – Application of QT in
business – Limitations.
05 Hours
Module II
Correlation and Regression Analysis : Meaning and definition of
Correlation - Karl
Pearson’s co-efficient of correlation - Rank correlation - Regression –
Types Determination of simple linear regression - Coefficient of
determination.
Module III
20 Hours
Set Theory - Probability: Concept of probability - Meaning and definition
- Approaches
to probability - Theorems of probability - Addition Theorem Multiplication Theorem Conditional probability - Inverse probability - Baye’s Theorem.
15 Hours
Module IV
Theoretical Distribution: Binomial distribution – Basic assumptions and
characteristics – Fitting of binomial distribution – Poisson distribution –
characteristics - Fitting of Poisson distribution – Normal distribution –
Features and properties – Standard normal curve.
15 Hours
Module V
Statistical Inference : Testing of hypothesis – Procedure – Error in testing
– Two tail tests and one tail tests – Non parametric tests (Chi-square
test only) - Parametric tests – Z test
– Test of significance of large samples – Test for two sample means –
Small sample mean tests – Students t test – Analysis of Variance – F test
– One way ANOVA .
20 Hours
Reference Books :
1. Richard I. Levin and David S. Rubin, Statistics for Management,
Prentice Hall of India, latest edition.
2.
S.P.Gupta, Statistical Methods, Sultan Chand, latest edition
3. Sanchetti and Kapoor, Statistics, Sultan Chand.
4. G.C.Beri, “Statistics For Managemet”,Tata Mc Graw Hill, 2003.
5. J.K. Sharma, “Business Statstics:, Pearson, 2004
6. Anderson
Sweeney Williams,
Economics”, Thomson.
“Statistics
for
Business
and
7. R.P.Hooda, “Statistics for Business”, Mc Millan.
8. Levine Krebiel & Bevenson, “Business Statistics”, Pearson edition,
Delhi.
SYLLABI FOR COMPLIMENTARY COURSES
Approved by the Board of Studies in Economics(UG)
Semester I
C01 Essentials of Economics-Micro
Course Category: Complementary Course
Code: C01 Essentials of Economics-Micro
No. of Credits: 2
No. of Contact Hours: 54
Module I: Introduction to Economics
What Economics is about? – Importance of the study of economics,
relation with other social sciences (History, Political Science, Law,
Psychology, Sociology). Basic Problems. Micro versus Macro
Module II: Theory of Demand
Utility, utility function, marginal utility, law of diminishing marginal
utility, demand, law of demand. Elasticity of demand and its types.
Module III: Theory of Supply
Cost, cost function, opportunity cost, variable cost, fixed cost, total cost,
marginal cost, average cost, supply, supply function, supply curve,
Elasticity of supply and its types. Equilibrium price, market and its
classification
Module IV: Theory of Production
Production function, types of production function (short run and long run),
economies of scale.
Reference:
1. Dominick Salvatore ‗Microeconomic Theory‘, Schuam‘s Outline Series
Semester II
C01 Essentials of Economics-Macro
Course Category: Complementary Course
Course Code: C01 Essentials of Economics-Macro
No. of Credits: 2
No. of Contact Hours: 54
Module I: National Income Concepts and Meaning
GDP and GNP, NDP and NNP. GDP at factor cost and market price, GNP at
market price and factor cost, NDP at market price and factor cost, NNP at
market price and factor cost. Personal Income, disposable income, percapita income. Importance of the estimation of national income, difficulties
in estimation of national income.
Module II: Major Classical Postulates
Say‘s Law of Market, Full employment, wage-price flexibility, leissez-faire
Module III: Major Keynesian Concepts
Effective demand, consumption, savings, under-employment equilibrium,
wage price rigidity
Reference
1. Diwedi DN ‗Macroeconomics Theory and Policy‖ Tata Magragel
Semester III
C01 Essentials of Economics-Money, Banking,
Finance and Trade
Course Category: Complementary Course
Course Code: C01 Essentials of Economics-Money,
Banking, Finance and Trade
No. of Credits: 2
No. of Contact Hours: 54
Module I: Money
Definitions and functions of money, demand for and supply of
money, Fischer‘s quantity theory of money, inflation and deflation
Module II: Banking
Role and functions of commercial banks and central bank,
monetary policy and its instruments, credit instruments
(cheque, draft etc)
Module III: Public Finance
Public revenue and its sources, public expenditure, public debt, deficit
financing, fiscal policy, budget, finance commission.
Module IV: Trade
Internal and External Trade, Why international trade?, balance of
trade and balance of payment, foreign exchange rate, devaluation,
revaluation, depreciation, appreciation.
Reference
1. Diwedi DN ‗Macroeconomics Theory and Policy‖ Tata Magragel
2. Salvetor D and EA Diulio – Principals of Economics Schuam‘s Outline Series
3. Salvetor D – International Economics Schuam‘s Outline Series
Semester IV
C01 -Essentials of Economics-Indian Economy
Course Category: Complementary Course
Course Code: C01 -Essentials of Economics-Indian
Economy
No. of Credits: 2
No. of Contact Hours: 54
Module I: India as a Developing Economy
Major Issues: poverty, unemployment and inequality - causes and remedies
Module II: Major Sectors of Indian Economy
Importance, contribution and problems of agricultural sector, green
revolution, land reforms, Industry: importance, contribution and problems.
Services: contribution to the national economy. Impact of economic reforms
on major sectors.
Module III: Planning
Economic planning and its objectives; five year planning in India –
achievements and failures
Module IV: Kerala Economy
Unique features, sectoral contribution, land reforms, decentralized planning,
people‘s planning, achievements and challenges in Health and Educational
Sectors, Role of Migration and remittances, tourism and development
Reference
1. Uma Kapila – (Ed) Indian Economy Since Independence – Academic
Fountation – New Delhi
2. Keralapadhanam - KSSP Kozhikode
OPEN COURSES
(for Non-ISLAMIC FINANCE Students)
Semester V
1- IFC 5 D01 –A STUDY ON FANDAMENTALS OF
ISLAMIC FINANCE
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS
NO. OF CONTACT HOURS
54
Objective
-
5
-
2
•
To understand basic fundamentals of Islamic finance
•
For knowing the comparative review of conventional finance and Islamic
finance
COURSE OUTLINE
Module – 1
Economic Doctrine of Islam - Introduction and Philosophy - Assumptions of
fundamental principles and their implication - Man and divine guidance: the
role of Quran and Sunnah - Islamic Social Order: Values and ethnics-The
political context of Islamic economics - Capitalism, Communism/Socialism and
Islamic Economic Systems
Module – 2
Islamic Banking - Concept and Evolution of Conventional Banking - Evolution
and Development of Islamic Banking - Differences and Similarities between
Islamic and Conventional Banking - Primary Characteristics of Islamic Banks Prohibition of Interest - Low Consumer Lending - Profit and Loss Sharing - High
Real Sector Investing - Dealing in Halal - The value of money Islamically
interpreted - Prohibition of speculation - Sanctity of contracts - Sharia
approved activities - Easy collateral - The Islamilisation of commercial banking
- Islamic banks in western world - Criticism of Islamic banking
Module –
Principles and Techniques of Islamic Finance - The concept of interest (Riba) Prohibition of Riba (in Islam and Christianity) - Real and notional interest Fixed and viable interest - Interest Vs. Profit - Interest as return - Riba al-Nasial
and al-Fadi - Consumption and production loan.
Financing Techniques – Mudaraba – Musharakah – Murabaha - Ijara and
IjarahMuntahiaBittamleek - Salam and Parallel Salam - Istisna’a.
Referances
•
Islamic Finance: Law, Economics, and Practice By Mahmoud A. El-Gamal
Cambridge University Press
•
Understanding Islamic Finance By Muhammad Ayub - WILEY Publishers
II-
IFC 5 D02 - ISLAMIC COMMERICAL LAW
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS
NO. OF CONTACT HOURS
- 54 Hours
-
5
-
2
Objectives
•
To understand the basics of conventional Business Law
•
To study the fundamentals of Islamic Commercial Law and to make a
comparative study about two concepts.
MODULE -1
Fundamentals of Shariah for Islamic Finance Practitioners: Sources of Shariah
- Objectives of Shariah - Operatives legal maxims Definitions of assets in
Shariah - Rules of ownership in Shariah - Essentials of Shariah compliant
contracts - Prohibited elements in Shariah: Riba, Gharar, Haram products and
activities.
MODULE –2
Nature of Islamic Business/Financial Contracts: Intermediation contract –
Mudaraba - Kitala (Guarantee) – Takaful - Wakala (Agency contract) - Juala Hawala (Transfer) - Rahn (Mortgage) - Transaction Contract– Mudaraha - Bay
Salam - Bay Mua’ajal – Ijara – Istisna – Musharaka - Wa’d (Promise) - Muwada
or Mua’hida (Agreement)
MODULE –3
Legal Practices in the Islamic Financial Industry
- Shariah principles
influencing regulatory framework for Islamic finance - Foundations of
adequate and efficient Islamic finance environment .
Focused Shariah Council (FSC) - Strong and harmonized legislation - Legal
issues to consider in structuring Shariah compliant products.
References
Elements of Mercantile Law – N D Kapoor
Mercantile Law – M C Shukla
Islamic Commercial Law By Muhammad Yusuf Saleem – WILEY Publishers
II- IFC 5 D03
- ISLAMIC INSURANCE
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS
NO. OF CONTACT HOURS
-
Objective
- 5
54
- 2
Hours
•
To know the concepts of conventional and Islamic insurance.
•
To understand working mechanism of thakaful and its regulatory issu
COURSE OUTLINE
Module – 1 Conventional contract of insurance – kinds of insurance contracts
– basic principles: utmost good faith, insurable interest, indemnity,
subrogation, contribution, causaproxima.Co-insuranceRe-insurance
Module – 2 Islamic Insurance – Takaful
Islamic attitude towards risk - Muslim objections to insurance - Permitted
forms of insurance - The nature and structure of Takaful compare with
conventional insurance - The limitations of products within Islamic Insurance How to remunerate the insurance operator - The Shariah governance of
Takaful undertakings - The risks and controls within Takaful firms
Module – 3
Business models of thakaful – business structures and regulatory implications
– shari’ah principle governing thakaful contracts – thakaful management
models.
Module – 4 (20 hours)
Neo classical and neo corporatist models of Corporate Governance.
Corporate Governance Issues in the Insurance Industry.
Corporate Governance Issues in Thakaful
Reference
Takaful Islamic Insurance: Concepts and Regulatory Issues edited by Simon
Archer, Rifaat Ahmed AddelKarim, Volker Nienhaus – WILEY PUBLISHING.
Islamic Insurance: A Modern Approach to Islamic Banking ByAlyKhorshid
Islamic Insurance: Trends, Opportunities and the Future of Takaful edited by
SohailJaffer – EUROMONEY PUBLISHING.
--------------------------------------------------------------------------------------------------------------------
ELECTIVE COURSES
(for ISLAMIC FINANCE Students)
Semester VI
I
COURSE CODE IFC6E01
ISLAMIC FINANCIAL INSTITUTIONS
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
6
NO. OF CREDITS
- 2
NO. OF CONTACT HOURS
- 54 Hours
-
Objective
•
To understand institutional setup for Islamic finance institutions globally.
•
To know the conversion of interest based baking to Islamic finance
COURSE OUTLINE
Module – 1 -Framework of Islamic financial institutions–overview of Islamic
financial system – Islamic banking operations – the evolution of Islamic
banking – theoretical considerations of Islamic financial system.
Module – 2 -Conversions of Interest Based Banking to Islamic Banking - The
General Approach - Conversion on the Assets Side - Participative Finance Treasury Management - Islamic Window - Islamic Branch/Unit - Islamic
Subsidiary - Trade Finance - Documentary Collection and the passing of title Diagramming the main Shariah issues for LPOs/LOCs - Diagramming of sales
and partnership with LPOs/LOCs - Diagramming a sales contract and shifting it
into a credit instrument - Pure Murabaha Import LOC - Agency Murabaha LOC
Module – 3
-The Intenational Association of Islamic Banks (IAIB) - The
Higher Riligious Supervisory Board and Dar Al-Maal Al-Islami - Islamic
Development Banks and its Role – Islamic Banks operations in Iran, Pakistan,
Malaysia and Turkey.
Module – 4 Islamic insurane institutions across the world – Islamic fund
management institutions in the international scenario.Islamic banking
operations in India-Islamic stock exchange indices all over the world – Indian
Indices – BSE shari’ah Index – operative mechanism.-Overview of Islamic
venture capital institutions in India.
Reference
Directory of Islamic Financial Institutions (RLE: Banking & Finance) edited by
John R R Presley
ROUTLEDGE LIBRARY EDITIONS.
Islamic Financial Institutions of India - Progress, Problems and Prospects Mohammad GhousIkhtiyarrudinBagsiraj.
II
COURSE CODE IFC6E02
STUDY ON ISLAMIC BANKING SYSTEM
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 6
NO. OF CREDITS
-2
NO. OF CONTACT HOURS - 75 Hours Theory (4 hrs/wk)
Objectives
•
To know the basics of conventional banking and Islamic banking.
•
To overview the pros and cons of conventional and Islamic banking.
COURSE OUTLINE
Module – 1
-Conventional Commercial Banking – working mechanism –
deposit schemes and its functioning – lending schemes – other supporting
services offered by commercial banks – profit making of commercial banking –
interest rates for deposit schemes and lending.
Module – 2 -Structure of an Islamic Bank - Structure of an Islamic
Bank/Islamic Banking Model - The Islamic Banking Markets: Funds Mobilization
and utilization.
Financial Instruments being used to mobilize funds: Current Account - Saving
Account -
Investment Account - Specific purpose investment account -
General purpose investment account
Module 3-Financial instruments being used to utilize funds - Equity financing -
Project financing under the principle of Al-Mudaraba (Trustee Financing)
-Project Financing under the principle of al-Musharaka (Equity Joint Venture) Al-QardAlhassan.
Debt Financing - Trading Financing - Commodity ventures as the basis of
Murabaha
- Letter of credit under Al-Wakalah, Al-Mushariaka and Al-
Mudarabaha.
Letter of Guaranntee - Financing working capital under Al-Murabaha - Rental
(Venture and Financing (Ijarah) - Equity Lease Purchase - Equity Hire Purchase
- Partnership Venture - Personal Finance - Trade Finance Deal - Company
Business Financing - Finishing work capital under the principle of Al-Murabaha
- Mortgage Financing - Procedure of Assessment of Profit/Loss Sharing.
Module – 4 -Balance Sheet and Income Statement Analysis of Islamic Banks
and Other Accounting Issues - Document and Documentation for Islamic
Banks.
Challenges for Islamic Banks
Conversion of conventional banking to Islamic Banking.
References
Islamic Banking by Mervyn Lewis, Latifa M. Algaoud
Islamic Banking: How to Manage Risk and Improve Profitability By Amr
Mohamed El Tiby Ahmed – WILEY Publishing.
Banking theory and practice – K C Shekhar
Banking theory: Law and Practice – Rajesh, McGraw Hill Publisher
III
COURSE CODE- IFC6E03
MARKETING OF ISLAMIC BANKING PRODUCTS
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 6
NO. OF CREDITS - 2
NO. OF CONTACT HOURS
- 75 Hours Theory (4 hrs/wk)
•
Objective
To understand about the marketing activities in Islamic banking.
•
To know the role of marketing in the international Islamic financial
institutions to expand its operations.
COURSE OUTLINE
Module – 1 (20 hours)
Concept of Marketing Application of 5Ps of marketing
Product, Price, Promotion, Place and People
Marketing Ethics n Islamic Banking
Qualities and criteria of IB marketing personnel
Module – 2 (15 hours)
Packaging Islamic Banking Products
Broad categories of banking activities
Customers expectation
Module – 3 (20 hours)
Success factors in marketing Islamic Banking Products
uniqueness of Islamic Banking Products
Effective ways in marketing of Islamic Banking Products
The do’s and dont’s in marketing
Module – 4 (20 hours)
Building Customer Relations and Care
Recognizing the importance of the customer
Opportunities and responsibilities when facing customers
Effective communication with Customers
Personalizing customer contact
Building businesses through customer contacts Managing difficult customers
Reference
Economic enterprises in Islam – Najathulla Siddiqui.
Studies in Islamic Economics – Kurshid Ahammed.
Marketing Management – Philip Kotler.
COMMON COURSESS
SYLLABUS FOR COMMON COURSES 2014-15 ONWARDS
CODE.
A01
1. OBJECTIVES OF THE COURSE
To train learners in the Basic English Language Skills, word
building, soft skills and effective communication
2. COURSE DESCRIPTION
Module 1: English for
Communication
Module 2: Primary Skills
Module 3 : Secondary Skills
Module 4: Grammar
Evaluation
10
15
15
20
hours
hours
hours
hours
12 hours
Total 72 hours
COURSE CODE A01
COURSE CODE
A01
SEMESTER IN WHICH THE COURSE TO
BE
TAUGHT
1
NO. OF CREDITS
3
NO. OF CONTACT HOURS
72 (4 hours/ week)
A.Core Text
Module 1. English for Communication
1. Communication and Language
2. English as a Global Language
Module 2.Primary Skills
1. Listening
1. Listening to a conversation
2. Listening to a speech
3. Listening to a lecture
2. Speaking
1. Greeting
2. Thanking
3. Requesting
4. Enquiring
5. Explaining
6. Reporting
7. Permission
8. Pronunciations of English
i. Introduction to phonetics
ii. Received Pronunciation
iii. Vowels and Consonants
1 Syllables and Word Stress
Module 3. Secondary Skills
1. Reading
1.
2.
3.
4.
5.
6.
7.
8.
9.
News reports
Charts
Advertisements
Official Letters/Documents
Online Content
Reading Poem” An October morning”
Reading Poem” Hawk Roosting”
Reading the essay,” How to escape from intellectual rubbish”
Reading the essay “On the need for a quiet college ”
2. Writing
1. Sentence
2. Paragraphs
3. Reports
4. Letters
5. Resumes and Cover Letters
6. Emails
7. Making Notes
8. Blogs
9. Punctuations
Module 4. Grammar
bi. Word Class
bj. Subject – Verb Agreement
bk.
Tenses
bl. Articles
bm.
Phrases ,Clauses and Sentences
bn.
Voices
bo.
Idioms
Appendix
Code
Title
The Four Skills for
Communication
A01
CODE.
Author
Publisher & Year
Dr. Josh
Sreedharan
Cambridge UP,
2014
A02
1.
OBJECTIVE OF THE COURSE
a.To introduce learners to representative English prose from
different cultural and geographical backgrounds
b. To cultivate their tastes in drama
c. To expose to logical and imaginative writing
3.
COURSE DESCRIPTION
Module 1: Prose 40 hours
Module 2:
Drama
40 hours
Evaluation:
10 hours
Total: 90 hours
COURSE CODE
A02
TITLE OF THE COURSE
SEMESTER IN WHICH THE COURSE TO BE
TAUGHT
1
NO. OF CREDITS
3
NO. OF CONTACT HOURS
90(5hrs/wk)
)
COURSE CODE - A02
A. Core Text
Module 1. Prose
1. Gandhiji as a School Master : M.K.Gandhi
2. Women’s Role in the National Movement : Subhash Chandra Bose
3. Martin Luther King and Africa: Chinua Achbe
4. Ambedkar’s Constituent Assembly Speech: Dr.B.R.Ambedkar
5. Why I Want a Wife : Judy Brady
6. In Search of Sweet Peas: Ruskin Bond
Module 2. Drama
1. Never Never Nest: Cedric Mount
2. Refund: Fritz Karinthy
3. Soul Gone Home : Langston Hughes
Code
Title
Author
Publisher & Year
A02
Dr. Zainul Abid
Modern Prose and Drama Kotta
A03
COURSE CODE
A03
TITLE OF THE COURSE
SEMESTER IN WHICH THE COURSE TO BE
TAUGHT
2
NO. OF CREDITS
4
NO. OF CONTACT HOURS
72(4hrs/wk)
1. OBJECTIVES OF THE COURSE
a. To acquaint the students with Short Stories
b. To cultivate their tastes in English Poetry
c. To expose to imaginative writing
2. COURSE OUTLINE
1.Module 1. Poems
30 Hrs
Module 2 .Short
2. Stories
30 Hours
12
3.Evaluation
hours
Total 72 Hours
COURSE CODE A03
A. Core Text
Module 1. Poetry
I. “On his Blindness” : John Milton
J. “To his Coy Mistress” : Andrew Marvel
K. “Ulysses”: Lord Tennyson
L. “Ode to Nightingale”: John Keats
M. “My Last Duchess”: Robert Browning
N. “Indian Summer”: Jayanth Mahapatra
O. “Journey of the Magi”: T.S.Eliot
Oxford UP, 2014
Module 2. Short Stories
1.
2.
3.
4.
The Luncheon : Somerset Maugham
Karma: Kushwant Singh
The Model Millionaire: Oscar Wilde
The Night the Ghost Got in : James Thurber
Code
Title
Author
A03
Inspiring Expressions
Prof. Muhammed
Ayub Kallingal
CODE.
Publisher & Year
Black Swan, 2014
A04
COURSE CODE
A04
TITLE OF THE COURSE
SEMESTER IN WHICH THE COURSE TO BE
TAUGHT
2
NO. OF CREDITS
4
NO. OF CONTACT HOURS
90(5hrs/wk)
1. Objectives of the Course
1 To introduce learners to various issues in the contemporary society
2 To create an awareness of preservation of the environment and nature
3 To inculcate the spirit of social life, values, duties and rights
2. COURSE DESCRIPTION
Module 1:
Module 2:
Module 3:
Module 4:
Evaluatio
n
COURSE CODE .
A. Core Text
Social
20
Issues
hours
Environme 20
nt
hours
Gender 20 hours
Human Rights 18
hours
12
hours
90
Total
hours
A04
Module 1. Social Issues
1 The Social Cause of Economic Globalization : Vandana Siva
2 Unity Amidst Diversity: Dr. Rajendra Prasad
Module 2. Environment
1. Man and Nature in India: Dr. Salim Ali
2. Climatic Change in Human Strategy: E.K.Federov
)
Module 3. Gender
1. Widow: G. Venkat Chalam
2. More than 100 million Women Missing : Amartya Sen
Module 4. Human Rights
1. Stigma, Shame and Silence: Kalpana Jain
2. I am Happy, Don’t you believe :Santhosh John Thooval
Code
A04
Title
Readings on
Society
Author
Publisher
&Year
Dr. K.P. Nanda Kumar
Cosmo, 2014
A05
COURSE CODE
A05
TITLE OF THE COURSE
SEMESTER IN WHICH THE COURSE TO BE
TAUGHT
3
NO. OF
CREDITS
4
NO. OF CONTACT HOURS
90(5hrs/wk)
5.
OBJECTIVE OF THE COURSE
To inculcate native feelings among the learners
To provide contemporary cultural and social awareness of Kerala through
English
2.
COURSE DESCRIPTION
Extracts from Native Print Media 30
Module 1:
hours
Extracts from Visual
Module 2: Media
30 hours
Module 3: Extracts from Internet 18 hours
Evaluatio
n
12 hours
Total
90 hours
COURSE CODE .
Core Text
A05
1.
Achadi, drishyam, samoohya madhyamangalude samakaliga
samanvayam. A speech by Sasi Kumar, Director College of journalism.
Appeared in Malayalam weekly 17 January 2014
2. “Young Indians have become more superstitious”. By Shalini Singh.
An interview/Jayant Vishnu Narlikar, Astrophysicist (The Week 1 February
2014)
3.
Interview- Bill Gates. “India did not get anything wrong’’ from
Outlook. 10 June 2013
Module 2 Extracts from Visual Media
1. “Television reality shows. Satyamevajayate” Episode s 2. Break the
Silence 4.
Every Life is Precious, 10. Dignity for All.
2. “Analyzing Television Commercials”
3. Doc film: “Only An Axe Away” (Malayalam/40min/20 04/DV)
by P.Baburaj and C. Saratchandran
Module 3 Extracts from Internet
1. “The Internet and Youth Culture”. Gustavo S. Mesch.
http://www.iascculture.org/THR/archives/YouthCulture/Mesch.pdf
2. “Writing online: websites, blogs and social network ing”
( model business letters, emails… Shirley Taylor)
3. “How Google has changed our Language”. ( Integrated
advertising, promotion and Marketing communications. By
Kenneth E. Clow et al 266-67)
4. Short films on internet
A. Facebook Short film – Status Updated by Abhinav Sunder Nayak
B .Applied? By Nitin Menon
Code Title
Author
Publisher & Year
Prof. Mahamood
A05 Native Media in English Pampally &
K.Rizwana Sultana
CODE.
COURSE CODE
Pearson,2014
A06
A06
TITLE OF THE COURSE
Reading Fiction and Non Fiction
SEMESTER IN WHICH THE COURSE TO BE
TAUGHT
4
NO. OF CREDITS
4
NO. OF CONTACT HOURS
90(5hrs/wk)
3. OBJECTIVES OF THE COURSE
i. To develop reading fictional and nonfictional works from a national
perspective.
j. To improve language skills through literature
k. To promote writing narratives.
4. COURSE DESCRIPTION
Modules 1:
Module 2:
Module 3:
Evaluation
:
30
An Indian English Popular Fiction
hours
A section from an Autobiography of an 30
Indian
hours
A travelogue by a Malayali writer in
18
translation
hours
12
hours
90
Total Hours
COURSE CODE A06
ii. Core Text
1 Nampally Road: Meena Alexander
2 Sunny Days, Chapters 1,9,23 : Sunil Gavaskar
3 In the Land of Africans: S.K.Pottekkat
Code
A06
Title
Author
Reading Fiction and Non Dr. Josh
Fiction
Sreedharan
Publisher & Year
Cambridge UP,
2014
COMMON COURSES
SECOND LANGUAGE
I- CODE.
A07(2)
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS
NO. OF CONTACT HOURS
(4 hrs/wk)
-
1
-
4
Aims and Objectives:
•To teach the students the basics of interpersonal interaction in Arabic
•To train the students to communicate in Arabic in selected situations
Module 1. Interpersonal Interaction
•Knowing each other
•The traveler
•The picture
•The lunch
•Accommodation
Module 2. Situational Conversation I
•The Family
•Are you sure?
•I am a student
•The street is crowded
•What is your opinion?
Module 3. Situations Conversation II
•What is your Hobby?
•How to make friends?
•Why were you absent?
•What do you prefer?
•I wake up early
Module 4. General Conversation
•When do you go to the College?
•How do you feel now?
•What's the reason?
•A sad news
•Now I am a grown up man
(Note: Each chapter followed by additional exercises for practice)
Prescribed Text
:Muhadasath Youmiyya
Book
Edited by
:Dr. Mohammed Haneefa. P
Books for
Al Arabiyya Linnashieen,
:
reference
Part 1 & 2
II-CODE.
A09(2)
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
- 2
NO. OF CREDITS
NO. OF CONTACT HOURS
-
(4 hrs/wk)
Unit 1
A.1. Min Nooril Quran
B.4. Al Iktibar
C.5. Risalath Al Masjid fil Islam
Unite 2
A.2. Minal Hadith Al Naba viyyi
B.3. Kuthbath Umar Bin Abdul Aziz
C.8. Al Islam (Poetry)
Unit 3
A.6. Riskun Minassamae
B.7. Al Sharaf
C.9. Al Wafa Wal Haya
Core Text: "Al Nusus Al Adabiya"
edited by
Jabir Amani
Al Huda Book Stall,Calicut-2
-------------------------------
III- A09(2)
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CREDITS
- 4
NO. OF CONTACT HOURS
(4 hrs/wk)
COURSE OUTLINE
Unit 1
1- Letter writing (Page 15-24)
2- Correspondence (Page 26-80,ten letters)
Unit 2
3- Job Applications (Page 82-95, 6 applications)
4- Advertisements and Notifications
(Page 102-112, Ten advertisements)
Unit 3
5- Tenders and quotations (Page 132-147, Ten examples)
6- Employment abroad (Page 150-157, 5 examples)
Unit -4
1-Chapter -5 ,Business arabic (page 187 )
2-Chapter-6 Business Arabic (Page 207)
-
3
4
3-Chapter 9 Business Arabic ( first half of the total nos .only –Page -301)
.
Priscribed Text Book : A hand book of Commercial Arabic
-New edition
by Dr. K.P. Aboobacker
Books for ref:
1-Technical, Business, Legal and Journal ArabicDr.TP Mohammed Abdul Rasheed/Alhudha Bookstall-Calicut
2- The Commcrcial Arabic
Prof:VP Abdul Hameed
3- Bussiness Arabic By- Dr. AI Rahmathullah alicut/ Alhuda Bookstall ,
Calicut-2
-------------------------------------------------------------------------------------------------------
IV -
A10 (2)
SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT
NO. OF CONTACT HOURS
(4 hrs/wk)
Unit 1
-
4
COURSE OUTLINE
1- Certificates and documents (Page 174 – 191, Ten certificates)
2- Glossary of idioms and expressions (Page 276 – 282)
I.
Banks and accounts (Page 294 – 296)
Unit -II
3-correspondence (page-305-313)
4-journalistic style and expression (page-314-319)
Unit III
1- Chapter -6 Money markets and commercial translation (page 230
-264
2- Bussiness Arabic-By- Dr. AI Rahmathullah
Priscribed Text Book : A hand book of Commercial
Arabic
by Dr. K.P.
Aboobacker
Books for reff;
1-Technical, Business, Legal and Journal ArabicDr.TP Mohammed Abdul Rasheed/Alhudha Bookstall-Calicut
2- The Commcrcial Arabic
Prof:VP Abdul Hameed
3- Bussiness Arabic By- Dr. AI Rahmathullah alicut/ Alhuda Bookstall ,
Calicut-2
Complementary Courses for other
Programmes
Complimentary Courses prescribed for any BA
Programme approved by the Board of Studies in Islamic
Finance
Islamic Commercial Law and Contract
Semeste
r
Semester
I
Semester
II
Semester
III
Semester
IV
Course
Code
IFC1 C05
IFC2 C05
IFC3 C05
IFC4 C05
Course Title
Islamic commercial Law and Contract – I
Islamic commercial Law and Contract –
II
Islamic commercial Law and Contract –
III
Islamic commercial Law and Contract –
IV
Fundamentals of Islamic Economics
Semeste
r
Semester
I
Semester
II
Semester
III
Semester
IV
Course
Code
IFC1 C06
Course Title
Fundamentals of Islamic Economics – I
IFC2 C06
Fundamentals of Islamic Economics – II
IFC3 C06
Fundamentals of Islamic Economics – III
IFC4 C06
Fundamentals of Islamic Economics – IV
IV. Islamic Commercial Law and Contract
Semester I
Islamic commercial Law and Contract – I
Course Category: Complementary Course
Course Title and Code: Islamic Commercial Law and Contract –
I, IFC1 C05
No. of Credits: 2
No. of Contract Hour: 54
Module 1 Islamic Law of contract:
Principles of Islamic business – classification of contracts – contract of
exchange – contract allowing the transfer of the usufruct – partnership
contract – security contract – the legality of foreign exchange
transaction
Module 2 Islamic Asset and Fund Management:
Principles and constraints of Islamic fund structures – Islamic investment
products – Islamic stock selection process – Islamic fund performance –
liquidity strategies – structure, marketing and distribution –
incorporation, authorization and regulation – the Shariah committee and
fund management
Module-3 Islamic Bond Market (Sukuk):
Definition – management – characteristics – structuring Sukuk
transactions – AAOIFI standards – capital market consideration relating
to Sukuk
Module-4 Venture capital:
Features – selection of investment – stages of financing – early stage
financing, social round financing, later stage financing. Equity financing
– Islamic syndication – Qard Hasan
Books for reference:
1. Islamic law of Contracts & Business Transactions by MT Mansuri,
Adam Publishers & Distributors, 2006
2.
Khiyanatul amaanah wa atharuha fil uqud al maaliya fil sharia’ al
Islamiya by Dr. Muahammad Oleiwi Nasir, Dar al thaqafa linnashr
wal tawzi’
3. Contracts in Islamic Law by Hussein Hassan, Publishers: IB Tauris
2005
4. Fundamentals of Islamic Money and Capital Markets By Azmi Omar,
Muhammad Abdul, Raditya Sukman
1.
--------------------------------------------------------------------------Semester II
Islamic commercial Law and Contract – II
Course Category: Complementary Course
Course Title and Code: Islamic Commercial Law and Contract – II, IFC2 C05
No. of Credits: 2
No. of Contract Hour: 54
a. Introduction
Honesty in commercial dealings is an important factor behind a
successful society. A Just social milieu censures political chicanery
and economic exploitation as strongly as social excesses and
individual dishonesty. Indeed, a true society is based upon honesty,
justice and fraternity, and is absolutely intolerant of dishonesty in
all its forms. That is the reason why perfect honesty in business
and truthfulness in trade are much emphasized by the Prophet
Muhammed who urged his followers to adopt trade as their
profession and exhorted them to observe truthfulness and honesty
in their business transactions. His teachings emphasized on food
earned through unlawful means.
b. Objective
This course gives a clear idea of the rules on trading based on the
sayings of Prophet Muhammed with a focus on what deals are
permissible (“Halal“) or forbidden (“Haram“). These rules apply to
any market or other types of trading. Trading in shares, derivatives,
insurance and other forms of risk are also covered.
c. Learning outcome
Passing out this course the students are expected to learn the
business ethics and lawful and unlawful business deals according
to the sayings of the Prophet.
d. Syllabus
Module 1: Legal and illegal things clearly defined- explanation of
doubtful things – dark suggestions are doubtful things – earning
legally and illegally – trading of cloth – going out for trading –
enlarging sustenance- credit purchase by Prophet – earnings and
manual labour – being easy and generous in bargaining – giving time
to rich person to pay – good and bad point of transaction – selling
mixed dates
Module 2: Riba (usury) the sin of riba giver – Allah will destroy riba –
the blacksmith – the tailor – purchasing animals – the hajjam – sale of
undesirable thing – buying a thing and giving in present – cheating in
business – the markets – weighing and measuring – preferable
regarding measuring – sa’a and mudd – selling and storing foodstuffs
– seller urging to cancel bargain - selling by auction – haba-il-habala –
returning an animal – selling without commission – meeting caravans
on the way
Module 3: Barter system – dinars for dinars on credit – silver for gold
on delay payment – muzabana – selling dates on trees – selling fruits
before their benefit is evident – loss of fruit sold before their benefit is
evident – buying dates for a better kind – bai’ al mukhadara –
traditions and conventions in matters of sales – mutual sale of joint
property – killing pigs – sale of dead animals – selling dogs
Module 4: Salam by a specified measure – salam to one having
nothing – informing partner before selling his share – the nearest
neighbor – hiring a pious man – looking after sheep for qirat – to
employ from asr till night – labourer leaving his wages – charging for
semen of an animal - rejecting al-hawala after accepting the same –
transferred debt of the dead – giving the due portion - undertaking
debt of a dead person – one partner deputing another – giving gifts to
a deputy – deputy leaving/selling something
Module 5: Sowing seeds and planting trees – indulging in cultivation
– keeping watchdog for a farm – employing oxen for ploughing –
dividing the yield into two – waqf of the companions – cultivating
neglected land – sharing the yield and fruits - distribution of water –
water should not be withheld – withholding water from travellers – the
water owner – hima – selling wood and grass – land granted by a ruler
– borrowing money from people – repayment of debts – funeral prayer
for dead person in debt – wasting money
Books for reference:
1. Sahih al Bukhari
2. Summerised Sahih al Bukhari Trans. by Dr. Muhammed Muhsin
Khan, Islamic University, Al-Madinah Al-Munawwarah; Darussalam
Riyad 1996.
--------------------------------------------------------------------------------------------
Semester III
Islamic commercial Law and Contract – III
Course Category: Complementary Course
Course Title and Code: Islamic Commercial Law and Contract – III, IFC3
C05
No. of Credits: 2
No. of Contract Hour: 54
a. Introduction: A just and Balanced economy which neither
despises wealth nor takes it as a god; it acknowledges its value and
importance, without exaggerating its status. It differs from old
fashioned religious asceticism, which regards wealth as something
evil which contaminated the soul and prevents it from reaching
perfection; it also differs from modern doctrines which make
economics the central axis of life and make money a god to be
worshipped. The Islamic view on wealth is based on its view of the
value of wealth and its importance in life as befits human beings
not as a source of temptation (fitna) that drags him to the depth of
extravagance, luxury, greed and misguidance.
b. objective
This course is intended to provide students a clear idea of Islamic
view of wealth and its methodology. The main objective of this
course is to equip students with a wider idea on the economical
dealings of Islam.
c. learning outcome
With this course students are expected to learn the distinct and
moderate economic system that Islam put forth
d. syllabus
Module 1: Value of wealth and its importance –How blessed is good
money for a good man (1) – Protection wealth against loss (2) – Man’s
love for wealth – Quran’s warning against being tempted by wealth –
Greed – man is the trustee over the wealth- wealth is subjected to the
commands of the Creator- Private ownership – man’s natural inclination
towards freedom, humanity and justice – individual incentive to work,
strive and do a good job- condition of being wealth is acquired through
permissible means – No oppressor nor oppressed – purity of individual
ownership.
Module 2: Prohibition of riba (usury, interest) – exploitation of the poor
by the rich - lack of hard work – absence of contentment in riba – riba as
a major sin - Prohibition of hoarding – prohibition of deceit – prohibition
of trading in prohibited things - prohibition of extravagance ( tarf) –
prohibition of ill-gotten gains – prohibition on taking public funds –
warning against taking advantage of one’s position.
Module 3: Achieving self-sufficiency for the society – acquiring
knowledge, skills and expertise that enable the society to produce all
that it needs in material terms – achieving honour, happiness and
strength that enable the society to fulfill the mission of self – sufficiency
– development of human resources and potential in every field improved use of conservation of resources – gathering statistics on the
sources – protecting and conserving the resources – zero waste and zero
negligence of the resources – mobilization of means to develop
resources – necessity of cultivating land
Module 4: Coordinating and integrating production – focusing on areas
of need in the society – making up shortcomings – prioritizing the needs
– precedence of essentials over the optional extras – cultivation of
essential items – cultivation of plants that are harmful to the individual
or the society - Putting money to work and not keeping it or hoarding it –
moderation in spending – establishing social balance between the
classes – Narrowing the gap between rich and poor – organization of the
collection of zakat and its distribution to the poor – Establishing social
security and taking care of it – inheritance and redistribution of wealth –
setting out a plan to increase and develop wealth
Module 5: Guidelines to the financial reform - money : grace and
blessing; test and trial - misuse of money for putting obstacle in the way
of right and goodness- money must be preserved and neither be
squandered nor wasted – spending money for the sake of goodness –
the means of life of the society – Pride of nation – welfare of mankind Obligatory duties and representations of money – financial reforms in
Islam
Books for reference:
1. The Ideal Muslim Society as Defined in the Quran and Sunnah by
Dr. Muhammed Ali Al Hashimi, published by International Islamic
Publishing House, Riyadh. (one chapter, A Balanced Economy).
2.
Almujtama’a al Muslim kamaa bayyanahul Islam fil ktab wassunnah
by Muhammad Ali al Hashimi, Dar el Basha’er el Islamiyya littiba’a
wa tawzi’ Beirut, Lebanon. (one chapter mujtama’ al iqtesad al
aadil al mutawazin)
3. Economic Objectives of the Quran by Muhammad Rasheed Ridha
(Al wahy al muhammadi, chapter - al Irshad ila al islah al mali)
Semester IV
Islamic commercial Law and Contract – IV
Course Category: Complementary Course
Course Title and Code: Islamic Commercial Law and Contract – IV, IFC4 C05
No. of Credits: 2
No. of Contract Hour: 54
Module 1 Concept of Economic system:
Constituent elements of and economic system – classification of
alternative economic systems, features of Islamic Economic system and
how it differs from other Economic systems – performance of system –
evaluation criteria – performance of Islamic Economics in comparison
with Socialism and Capitalism.
Module 2 Economic development:
Mainstream approach – sustainable development, development an
Islamic perspective. Resource mobilization and resource allocation in
Islamic system – Islamic strategy for Economic development
Module 3 Distributive justice:
Conflict between growth and distributive justice – failure of trickle down
effect – distributive justice Capitalist, Socialist, and Islamic views.
Islam’s measures for ensuring distributive justice – role of Zakat
Module 4 Welfare Economics:
Criteria of welfare in conventional economics – Islamic methods of
attaining welfare – Zakat, Sadaqa, interest-free loans, welfare
implications of production and consumption in Islam in comparison with
other systems
Module 5 Public Economics sources of revenue in conventional
economics:
Tax and non-tax revenue – Zakat, Fay, Ghaneemah, Kaffarah etc., heads
of expenditure in conventional Economics and Islamic Economics
----------------------------------------------------------------------------V. Fundamentals of Islamic Economics
Semester I
Fundamentals of Islamic Economics – I
Course Category: Complementary Course
Course Title and Code: Islamic Commercial Law and Contract – I, IFC1 C06
No. of Credits: 2
No. of Contract Hour: 54
Module 1 Nature and scope of Islamic Economics:
Assumption – Economic Man v/s Islamic Man, the world view of Islam,
approach of Islamic Economy - difference with mainstream Economics.
Sources of Islamic Economics Quran, Hadith and works of Muslim jurists
Module 2 Consumer behavior in Islam:
Islamic concept of preference, self-interest and social interest
(selfishness v/s altruism), utility maximization. The concept of market in
Islam- Early Islamic thought on market mechanism (Ibn Taymiyyah and
others)- Role of government in controlling market.
Module-3 Production:
Factors production - incentive for production, population and economic
development – role of capital and entrepreneurship- differences with
mainstream Economics.
Module-4 Prices and markets:
Behavior of firms in an Islamic Economy – comparison of firms behavior
in conventional Economics – pricing production of firms in an Islamic
Economy.
----------------------------------------------------------------------------------------------------
Semester II
Fundamentals of Islamic Economics – II
Course Category: Complementary Course
Course Title and Code: Fundamentals of Islamic Economics –II, IFC2 C06
No. of Credits: 2
No. of Contract Hour: 54
a. Introduction:
To provide an introductory overview to the development of Islamic
economics, from the era of the Prophet Muhammad to the most
contemporary Islamic economic thinking
b. Objectives:
c. Learning outcome:
This course aims to enable students to clearly understand the roots of
and main frameworks behind both classic and contemporary Islamic
economic thought.
d. Syllabus
Module 1 History of contemporary Islamic economic thought:
Historical account of the Islamic economics from the Prophet’s time to
the contemporary Islamic economic system
Module 2 Evolution of Islamic economic thought:
Economic institutions during the time of the Prophet and Right Guided
Caliphs
Module 3 Islamic economic thought after Right Guided Caliphs:
Development of economic institutions during Umayyad, Abbasid and
later periods, Management of revenues, Kitab al amwal and Kitab al
Kharaj
Module 4 Contemporary development in Islamic economic
thought:
Islamic economics and its relevance in the current financial climate and
successful experiments in the Islamic world and elsewhere
Module 5 Implementation of Islamic economics concept
worldwide:
Case study - General overview of the spread of Islamic finance
worldwide in the last decade - Successful financial experiments based
on Islamic economics worldwide - with special reference to Malaysia,
Egypt and the UK. Expression of interests in Islamic finance even from
non-Islamic countries
Module-5 Islamic economics in future:
Future course of the interest-free Islamic economic system as an
alternative model, its survival in a system that totally dependent on
usury and speculation
-------------------------------------------------------------------------Semester III
Fundamentals of Islamic Economics – III
Course Category: Complementary Course
Course Title and Code: Fundamentals of Islamic Economics– III, IFC3 C06
No. of Credits: 2
No. of Contract Hour: 54
a. Introduction: This course expands on the necessary requirements
to effect communal transformation on the basis of verses from 261
to 283 from Sura al Baqara the first chapter of the Quran. It focuses
on two agents of social change, one positive and one negative:
charity and usury. Quran the first and foremost source of Islamic
law is concerned that the man understands the nature and purpose
of charity: there are right and wrong ways in which it can be
dispensed. Charity is an obligation towards the fellow human
beings. The most fundamental basis of Quranic vision is that man
cannot be good in isolation. The objective of charity to create a
world of justice and equity, of opportunity to all whereas usury
deepens poverty and widens the gap between the haves and havenots. An important principle of the Law of dealings, or the Law of
Contracts in modern legal terminology, has also been taken up in
the course.
b. objective
This course is intended to provide students a clear idea of what the
early Islamic sources say on usury and charity, the day-to-day
economic activities in every society.
c. learning outcome
With this course students are expected to learn the importance of
charity and harmful effects of usury on the society.
d. syllabus
Module 1: The likeness of those who spend their wealth in the path
of common good- - spending wealth in order to flaunt by reminding of
generosity of causing offense – giving the inferior portion in alms –
charity is not the giving away of the cast-offs - relation between
poverty and sin – charity should go the poor – charity should not
highlight the distinction between the haves and have-nots - Zakat is
obligatory - zakat is to be used for social welfare purposes – Charity is
distinct from zakat – paying of zakat is not the end of the obligation to
society - A middle community in its economic activities– neither
miserly nor extravagant – making society and all its citizens prosper expenditure and investment has to be accompanied by physical or
intellectual labour – basis of distributive outlook of the Quran
Module 2: The evil of usury – difference between trading and usury –
usury insulates the capitalist form risk –destruction by interest and
increase by charity – keep away from usury or war against god –
usury creates selfishness and greed - making money from money is
arid – little benefit for society as a whole - A written document must
be kept on a transaction – due date of payment should be determined
– nonpartisanship of the scribe – dictating the document – insane,
minor and their guardian or wali –writing of an agreement is not a
conclusive proof - witness and rules of witnessing – the number of
witnesses – qualification of witnesses – witness should not suffer
Module 3: Honesty, justice and fraternity in commercial dealings food earned through lawful means – believers do not consume one
another's wealth unjustly but only [in lawful] business by mutual
consent - nasty food spolis spiritual and physical health- Ibn Awf’s
model of earning and business - legal (halal) and illegal (haram)
things are obvious - one who does not care from where he earnsmoney exchange. He replied, 'If it is from hand to hand, there is no
harm in it; otherwise it is not permissible. Whosoever deceives us is
not one of us - give just measure
and weight – do not withhold from
the people the things that are their due- do not commit evil on the
earth with the intent of doing mischief - the buyer and the seller,
should be truly sympathetic and considerate towards each other mutual co-operation for the cause of goodness and piety - goods not
to be sold before obtaining their possession - goods to be bought in
the open market
Module 4: Prohibited form of business - cartels and monopolies speculative business based on selfish interest - interest transactions Transactions similar (in nature) to gambling – lottery - Munabadha and
Mulamasa – Mozabana or exchange of fresh fruits for dry ones Mu'awama - Bai' al-Gharar - Mortgage
Books for reference:
1. Holy Quran from verse no. 261 to 283 of the Chapter 2 Al Baqara
2. Sahih Bukhari , The Book of Trade
3. Fiqh al Sunnah by Sayyid Sabiq, Chapter Al Buyu’
4. Reading The Quran by Ziauddin Sardar (one chapter, Al Baqara
Charity and Usury)
5. Tafsir Al Manar by Muahammed Rashid Ridha (Commentary of
verses 261 to 283 of Chapter 2 Al Baqara)
----------------------------------------------------------------------------Semester IV
Fundamentals of Islamic Economics – IV
Course Category: Complementary Course
Course Title and Code: Fundamentals of Islamic Economics – IV, IFC4 C06
No. of Credits: 2
No. of Contract Hour: 54
a. Introduction
Zakat is an obligatory act ordained to be performed by every adult
and able bodied Muslim. It is an important pillar among the five pillars
of Islam. Zakat is a part of the wealth and property that believer must
pay annually, to help the poor of their community. One of the main
purposes of Zakat is to keep those who are wealthy clean, monetarily,
from sin. It is a form of Sadaqah (charity) which is obligatory on
believers. Zakat is one of the Five Pillars of Islam. It refers to almsgiving, which is obligatory for all believers who meet a minimum
wealth requirement (called the nisab).
b. Objective
This course is intended to provide students basic idea of zakat and its
implications as a means of poverty eradication. The main objective of
this course is to equip students with a thorough knowledge of zakat
system
c. Learning outcome
Passing out this course the students are expected to learn the total
system of collecting zakat, its distribution etc.
d. Syllabus
Module 1 The meaning of the word zakat (linguistic and terminological)
– history and evolution – poor in ancient civilization – concerns of
religion for the poor – benevolence of Islam in dealing with problem of
poverty- feeding the poor is a requirement of faith - Encouragement to
take care of the indigent
Module-2 Exhortation to give and punishment for denying – who is
obliged to pay – Zakatable wealth in terms of amount and their ratio
(nisab) – zakat on the holding of infants and mentally retarded- insolvent
debtor –
Module -3 Zakat owed by deceased- property from which zakat is paidzakat on gold and silver – zakat on banknotes and notes – zakat on
jewelry – zakat on mahr – on house rent- zakat on trade – how is zakat
on trade money to be paid – zakat on fruits and plants
Module 4 Zakat on buried treasure and precious minerals – zakat on
wealth extracted from the sea- acquiring property through profit or
increase (mal al mustafad) – payment of value instead of item itselfrecipient of zakat – the poor and needy ( faqir and miskin) – the person
who can work – owner who lacks self sufficiency – employees of zakat
(amilun alaiha) – reconciliation of hearts (mu’allafatul qulub) – riqab and
fee sabeel
Module 5: Significance of the law of inheritance – rights related to
tarika (legacy) causes and conditions of inheritance - impediment to
inheritance- dhawil fardh (fixed shares) –heirs and their sharesresiduary (asabah)- types of residuary - hijb (exclusion) - doctrine of awl
and radd - calculating the property of deceased
Books for reference:
1. Fiqh al Zakat by Dr. Yusuf al Qaradawi.
2. Fiqh al Sunnah by Sayyid Sabiq
3.
How to Calculate Inheritance: A Simple Approach by Shakil Ahmad
Khan
4. Kitab al fara’idh by Abdussamad al Katib Pub. Islamic University al
Madina
The End
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