This course will cover 25 articles on various aspects of Islamic finance written by some of the leading authorities in the field.
This course will cover 25 articles on various aspects of Islamic finance written by some of the leading authorities in the field.
The main topics addressed are (1) foundations of Islamic finance, (2) operations of Islamic banks, (3) markets and instruments, (4) Islamic banks and development, and (5) globalization of Islamic finance. A recurring theme is the adaptation of Shari’a (Islamic religious law) to modern financial practices.
Learning Objectives:
Course Outline:
The course will follow the outline of the book’s five parts, each containing four to six articles, address the following topics: (1) foundations of Islamic finance, (2) operations of Islamic banks, (3) markets and instruments, (4) Islamic banks and development, and (5) globalization of Islamic finance.
A recurring theme in the book is the adaptation of Shari’a (Islamic religious law) to modern financial practices. For example, it notes that although Hinduism, Judaism, Christianity, and Islam all opposed usury in the past, Islam remains the only major religion to prohibit the charging of interest. Pointing out similarities between modern Islamic financial practices and techniques used to circumvent the Roman Catholic Church’s opposition to usury in medieval times, Lewis questions whether Islam can sustain its ban.
In 2011, members of the MAS Katy Center community recognized that there was a need to provide an institution of higher education in Islamic Studies to the Houston area.
After many meetings and research, it was determined that an online format in addition to local classes in Katy, Texas was the best way to reach students and scholars who wanted to further their studies of Islam.
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