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Course Name (English)
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ISLAMIC FINANCIAL LEGAL FRAMEWORK
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| Course Code |
IMU604 |
| Course Description |
This course provides an understanding of the legal aspects of Islamic banking and finance. Topics will be covered include the laws and regulations which govern Islamic banking business, Takaful business as well as Islamic Capital Market. |
| Transferable Skills |
1. Skills to clarify aspects of the law in Islamic finance.
2. Professional ethics and morals.
3. Continuous learning in legal aspects of Islamic finance.
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| Teaching Methodologies |
Lectures, Discussion, Presentation |
| CLO |
| CLO1 |
Discuss deeply the legal framework concerning Islamic banking and finance. |
| CLO2 |
Analyse the modus operandi and various Islamic financial products in relation to the current legal practice. |
| CLO3 |
Apply the principles of law to possible Islamic banking problems that arises. |
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| Pre-Requisite Courses |
No course recommendations |
| Reading List | | Recommended Text | - Muhamad Rahimi Osman 2009, Islamic Financial Legal Framework, UPENA UiTM Shah Alam
- Asyraf Wajdi Dusuki & Nurdianawati Irwani Abdullah 2014, Fundamentals of Islamic Banking, IBFIM. Kuala Lumpur
- David Eisenberg 2012, Islamic Finance: Law and Practice, Oxford University Press Oxford
- Abdul Karim Karim Aldohni 2012, The Legal and Regulatory Aspects of Islamic Banking: A Comparative Look at the United Kingdom and Malaysia, Routledge Oxon
- Angelo M. Venardos 2010, Current Issues in Islamic Banking and Finance: Resilience and Stability in the Present System, World Scientific Singapore
- Rodney Wilson 2012, Legal, Regulatory and Governance Issues in Islamic Finance, Edinburgh University Press Edinburgh
- Islamic Financial Services Act 2013
- Central Bank of Malaysia Act 2009
- Labuan Financial Services and Security Act 2010
- Capital Markets and Services Act 2007
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| Reference Book Resources | - Syed Nazim Ali 2005, Islamic Finance: Current Legal and Regulatory Issues., Massachusetts: Harvard Law School Massachusetts
- Mohd Daud Bakar 2004, Development of a Supportive and Effective Legal Framework for the Islamic Financial Services Industry” paper presented at The International Seminar on Challenges Facing the Islamic Financial Services Industry, Jakarta Bali, 1-2 April 2004
- Nik Norzrul Thani et. al 2003, Law and Practice of Islamic Banking and Finance, Sweet & Maxwell Asia Petaling Jaya
- Engku Rabiah Adawiah 2003, Islamic Law Compliance Issues in Sale-Based Financing Structures As Practiced in Malaysia, 33 MLJ Ed., p.viii
- 2002, Halsbury’s Laws of Malaysia, vol. 14 Ed., pp. 248-311, Malayan Law Journal Sdn Bhd
- Securities Commission Kuala Lumpur 2002, Resolutions of the Securities Commission Syariah Advisory Council, Securities Commission Kuala Lumpur
- Nik Norzrul Thani 2001, Legal Aspects of the Malaysian Financial System, Sweet & Maxwell Asia Petaling Jaya
- Mohd Ma’sum Billah. 2001, Principles & Practices of Takaful and Insurance Compared, IIUM Press Kuala Lumpur
- Mohd Daud Bakar, The Shari’a Supervisory Board and Issues of Shari’a Rulings and Their Harmonisation in Islamic Banking and Finance”, in Islamic Finance: Innovation and Growth, pp. 74 – 89., Euromoney Books/AAOIFI
- Ahmad Ibrahim. 1997, Legal Framework of Islamic Banking”, Jurnal Undang-undang IKIM, vol. 1, No. 1, July-Dec 1997 Ed., pp. 1-29
- Mohamed Ismail Mohamed Shariff 1996, Salient Features of Islamic banking Act 1983 & Banking and Financial Institutions Act 1989”, paper presented at Seminar on Shariah and Legal Aspects of Islamic Banking Practice, 29-30 May 1996 Ed.
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| Article/Paper List | This Course does not have any article/paper resources |
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| Other References | This Course does not have any other resources |
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