Islamic Banking and Finance

Subject 110-254 (2008)

Note: This is an archived Handbook entry from 2008.Search for this in the current handbookSearch for this in the current handbook

Credit Points: 12.500
Level: Undergraduate
Dates & Locations:

This subject is not offered in 2008.

Time Commitment: Total Time Commitment: Not available
Prerequisites: None
Corequisites: None
Recommended Background Knowledge: None
Non Allowed Subjects: None
Core Participation Requirements:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support:


Prof A Saeed
Subject Overview:

This subject/unit will introduce students to the nature and foundations of Islamic law and the important role it plays in the economic and financial institutions in the Muslim world. It will explore the growth of Islamic banking from the 1960s onwards into an international multi-billion dollar venture covering both the Islamic and non-Islamic worlds; the relationship between finance and Islamic law; basic principles of Islamic economics; the framework of Islamic finance; the nature of Islamic banking and finance; the concept of money in Islam; the prohibition of interest; the ethical dimension of Islamic banking; the financing mechanisms used in Islamic banking; and the supervision of Islamic banks both by the central banks and by the Shari'ah supervisory boards. A number of case studies of Islamic banks will be examined as well as key contracts and financial statements. Students will also explore how Islamic banking differs from the conventional interest-based banking system.

Subject cancelled with approvalofPresidentofAcademicBoardon16June2008.


Assessment totalling 4000 words (100%)

Prescribed Texts:

Prescribed Texts:

Materials prepared by the Centre

Breadth Options: This subject is a level 2 or level 3 subject and is not available to new generation degree students as a breadth option in 2008.
This subject or an equivalent will be available as breadth in the future.
Breadth subjects are currently being developed and these existing subject details can be used as guide to the type of options that might be available.
2009 subjects to be offered as breadth will be finalised before re-enrolment for 2009 starts in early October.
Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills:
  • have skills


This subject will be taught online by the University of Melbourne. It is offered to students of University of Melbourne, University of Western Sydney and Griffith University. Local tutorial support will be available at all three universities. Available as a breadth subject. Previously available as 110-585.

Related Course(s): Bachelor of Arts
Diploma in Arts (Islamic Studies)

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