1 Name of Course Islamic Law of Banking and Takaful
2 Course Code LAB3073
3 Instructor
4 Rational for the Inclusion of the Course in the Programme To equip the students with the knowledge on Islamic Law of Banking and Takaful. This course is a compulsory course for Bachelor Degree of Syariah and Law.
5 Semester and Year offered Semester 4 (Year 2)
6 Student Learning Time

Face to face Independent learning Formal Assessment Total
Teacher centered Student Centered Learning Non face to face Revision Assessment Preparation Continuous Assessment Final Exam
Lecture T O

 28

 13  2  10  28  21  15  3

 120

7 Credit Value 3 (120/40 = 3)
8 Pre-requisite (if any) None
9 Learning outcomes Upon successful completion of this course, students should have the ability:

  1. To understand the current development of Islamic Banking, takaful and al-rahnu globally;(LO2-K4)
  2. To apply the Islamic principles in the modern Islamic Banking, Takaful and al-Rahnu; (LO3-P5)
  3. To evaluate and appreciate the implementation of Islamic principles in Islamic Banking, takaful and al-rahnu .(LO5-A5)
10 Transferable skills Students should be able to develop good written and interpersonal communication skills, teamwork, leadership and problem-solving skills through a process of lectures and tutorials.
11 Teaching-Learning and Assessment Strategy Teaching-learning strategy:

The course will be taught through a combination of formal lectures, exercises, group work, using authentic materials, informal activities and various textbooks. Practical experience and collaborative teamwork will be fostered throughout the course. The use of examination and internal reporting assessment will assess the student’s ability to apply theoretical concepts in context.

Assessment strategy:

  • Formative
  • Summative
12 Synopsis This course highlights the development of Islamic Banking, takaful and al-rahnu in Malaysia and other Islamic countries. It discusses on how Islamic banking industries emerge as an alternative for riba base banking system. The course evaluates the Islamic contracts used in the industries practice. Various products offered in Islamic Financial institutions such as savings products, financing products and investment products will be thoroughly examined. The course will also evaluate the application of Islamic principles in the industry.
13 Mode of Delivery Lecture, tutorial, class discussion, mini seminar or presentation.
14 Assessment Methods and Types
  Item Percentage
1. Continuous Assessment 40%
2. Final examination 60%
  Total: 100%
15 Mapping of the Course Learning Outcome/Module to the Programme Learning Outcomes Refer to attachment
16 Content Outline and the SLT per Topic

Week Topic
1 History of Islamic finance

  •  The establishment of Islamic finance worldwide
  •  Financial system in Malaysia
2

The basis of the introduction of Islamic banking system

  • The prohibition of usury, gharar and khatar in Islamic finance
3,4,5,6,7 Islamic Commercial Contracts

  • Exchange base contracts, charity contracts, waiving contracts and partnership contracts
  • Products in Islamic Banking and Finance
  • Structuring of products
8-9 Takaful
10 Shariah Supervisory Board
11-12 Regulations on Shariah and Islamic Finance in Malaysia
13 Rahn
14 Islamic Securities

*Note: Total =

17 Main references
  1. Sudin Haron. 1996. Prinsip dan Operasi Perbankan Islam. Kuala Lumpur: Berita Publishing.
  2. BIMB (1984) Islamic Banking Practice. Kuala Lumpur: Bank Islam (M) Berhad.
  3. Mohd Fadzlil Yusof (1996) Takaful: Sistem Insuran Islam. Kuala Lumpur.
18 Additional references
  1. Nik Norzul Thani et. al. (2003) Law and Practice of Islamic Banking and Finance. Sweet and Maxwell Asia.
  2. Nik Norzul Thani et. al. (2001) Legal Aspects of the Malaysian Financial System. Kuala Lumpur: Sweet and Maxwell Asia.
  3. Nik Ramlah Nik Mahmood. Islamic System of Mutual Insurance. Arab Quarterly.
  4. Norhasimah Mohd Yasin. Financing Aspects of BBA Contracts. (1997). 3 CLJ Supp. At PV.

 

COURSE LEARNING OUTCOMES, DELIVERY AND ASSESSMENT TEMPLATE

Course Learning Outcomes Compliance to PO Teaching & Learning Activities (TLAs) Assessment Tasks (ATs)
 

PO1

LO1

PO2

LO2

PO3

LO3

PO4

LO4

PO5

LO5

PO6

LO6

PO7

LO7

PO8

LO8

PO9

LO9

   
  K CTPS CS TS EM LL     KK LS    
1.  To understand the current development of Islamic Banking, takaful and al-rahnu globally;(LO2-K4)   3               Classroom lecture and discussion

Group presentation

Written test

Oral evaluation by instructor

2. To apply the Islamic principles in the modern Islamic Banking, Takaful and al-Rahnu; (LO3-P5)     3             Group

presentation

Group research

Instructor evaluation of the presentation

Written test

Assignment

3.To evaluate and appreciate the implementation of Islamic principles in Islamic Banking, takaful and al-rahnu .(LO5-A5)         2         Case review

Group presentation

Instructor  and peer evaluation

Written test