Mohammad Ali Jinnah University Karachi
(COURSE OUTLINE)
Program BBA/MBA
Semester Fall 2022
Course Title Islamic Banking
Section AE
Course Code FN 3200
Google Classroom Code
Google Meet Link
Prerequisite(s) Business Economics
Course Facilitator Muhammad Shujaat Saleem
Class Day(s) & Timing
Books Recommended 1. Islam & Contemporary Business & Economics, By Justice
(Retd) Mufti Muhammad Taqi Usmani, 1998.
2. The Historic Judgment on Interest, By Justice (Retd) Mufti
Muhammad Taqi Usmani, 2000.
3. Introduction to Islamic Finance, By Justice (Retd) Mufti
Muhammad Taqi Usmani, 2000.
4. Case Studies in Islamic Finance by Meezan Bank.
Additional Reading
5. Journal of Islamic Banking & Finance; Vol: 33 Jan-Mar
2021 No: 1
6. AAOIFI Standards 8 & 9.
Course Description:
This course encompasses the theoretical as well as practical aspects of contemporary Islamic banking and
finance along with its historical background. Products of Islamic banking & finance along with their
conventional counterpart are also compared on the basis of socioeconomic perspective. Moreover, the
standards from the Accounting and Auditing Organization for Islamic Financing Institutions (AAOIFI) are
also covered to enrich students’ knowledge and expertise in the field of Islamic banking and finance.
Course Learning Objectives:
CLO:1 To comprehend and analyze the basic tenets of Islamic jurisprudence pertaining to business, finance,
and banking.
CLO:2 To apply the fundamental knowledge of Islamic finance, business, and banking to the contemporary
business world
CLO:3 To critically examine and analyze the conventional banking model and to develop products of Islamic
banking that cater to the need of the contemporary business world.
CLO:4 To develop cognitive skills by analyzing the practices of the contemporary Islamic banking industry
in light of the AAOIFI Standards.
Mohammad Ali Jinnah University Karachi
(COURSE OUTLINE)
Learning Outcomes:
Students should be able to understand:
1. The underlying differences between Islamic and conventional banking
2. Detailed procedures involved in different products of Islamic banking
3. Difference in the literature and practice of the contemporary Islamic banks
4. The functional and operational levels of Islamic banks
5. Critically examine the practice of conventional banks
6. Critically examine the practices of Islamic banks in the light of AAOIFI Standards.
Student Assessment and Marks Distribution:
Undergraduate
S. No. Assessments & no of counts
(16 Years Programs)
1 Mid-Term Examination (1) 20 %
2 Quizzes (3) 15%
3 Assignments (3) 5%
4 Term Report (1) 10%
5 Final Exam (1) 50%
Session-wise Course Breakdown
Lecture No. Topic Reading Assignments
(Per Week)
1 Introduction to Islamic Banking & Finance, Some Chapter 1 of Book 2
arguments regarding contemporary Islamic banking.
2 Money & Commodity, Different Economic Systems Chapter 1 of Book 1
3 History of Islamic banking Chapter 1 of Book 2
4 67 Appeals & its reply Chapter4 of Book 2
5 Hikmat & Illat, Debt & Dain, Socioeconomic Impact of Chapter 5 of Book 2
Conventional Banking Model.
6 Murabaha Financing/MS Excel (Lab) for P/L calculations Chapter 1 of Book 3
Mid Term Exam
7 Murabaha Financing/ AAOIFI Standard-8 Chapter 1 of Book 3
8 Murabaha Financing/ Case study Chapter 1 of Book 3
9 Shirkat Financing Chapter 2 of Book 3
10 Shirkat Financing, Diminishing Musharakah/ Case study Chapter 2 & 3 of Book 3
11 Mudaraba Financing/MS Excel (Lab) for P/L calculations Chapter 3 of Book 3
12 Ijarah Financing/ Case study Chapter 3 of Book 3
13 Ijarah Financing/ AAOIFI Standard-9 Chapter 4 of Book 3
14 Salam & Istisna Chapter 5 of Book 3
Final Exam
Note
The portion on Standards shall be covered from the Accounting and Auditing Organizations from
Islamic Financial Institutions-Standards 8 & 9.
Two (2) classes shall be conducted in the lab for the profit and loss calculations on Murabaha and
Mudarabah financing by using MS Excel.
Mohammad Ali Jinnah University Karachi
(COURSE OUTLINE)
Office Hours:
Timing Monday Tuesday Wednesday Thursday Friday Saturday
From
To
Counseling Hours (Teacher’s Availability in Office):
Timing Monday Tuesday Wednesday Thursday Friday Saturday
From
To
Course Instructor: Shujaat Saleem
Email:
[email protected] Phone: 02134311325 Ext:164
Office # O7
(Instructor’s Signature)_________________________
