Course Introduction

Essentials of Islamic Finance

IQRA University Gulshan Campus. MBA, Fall 2011
IRSHAD AHMAD AIJAZ
irshad786@gmail.com

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Contents

Course Introduction: Purpose of the course and Targets to be achieved; Grading policy and genera guidelines; Islamic banking in Pakistan and its global scenario: History of Islamic banking and recent local and international developments; Criticism and Future outlook: Current economic and financial system and Islamic guidelines on economic affairs: Current economic and financial systems; Financial techniques and complexities; Myths and wrong understanding of issues and realities; Q and A

IQRA UNIVERSITY

IU

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Course Introduction:

Purpose of the course and Targets to be achieved; To create awareness and understanding of the course, its need, its theories and practical application; Attendance policy: Attendance once marked and submitted to management can not be changed and please do not waste your and my time on this issue; No leave on phone calls; Grading policy and genera guidelines;
Mid term: Final term: Quizzes: Articles (individual): Final presentation: Class participation:
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25; 40; 10; 05; 15; 05;

Total:
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100;
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Islamic banking in Pakistan and round the glob

History of Islamic banking and recent local and international developments; First modern Islamic financial experiment in the world;
Hyderabad

Duccan between 1930 ~ 1940; No exact history is available;

Egypt 1960:
Dr

Abdullah Najjar initiated MitGhamar Bank; Later on it has been merged in Nasir Social bank by Jamal Abdunnasir;

Gulf regeon:
Dubai

Islamic bank in 1974;

Islamic banking experiment in Pakistan:

1980's

legal framwork change in banking sectore by president Ziaul Haque; This experiment was a failure due to multiple reasons;

Role of Islamic Ideology Council; 1990's restart;

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Financial System and Islam

Current economic and financial system and Islamic guidelines on economic affairs: Based on pure logic without any intervention of religion; Many established rules have been broken;
Interest,

immorality and liquor are Haram in every religion; New non-religion based systems have been developed where deviation from religion especially Islam is evident;

Current economic and financial systems; Emergence of banks, exchanges and international institutions; Financial techniques and complexities; Transformation from simple structure to complex; Myths and wrong understanding of issues and realities; Many wrong understanding about emerged and invented system; Islam and current economic and financial systems;
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Why Islamic banking and finance?

What is Islamic? What is Shari'ah? Is obedience to rules given by Islam essential?

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Groups and guidelines

Groups should be made; Announcement of CR;

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Questions?

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