Course Overview

This course introduces learners to the broad principles of Islamic banking and finance and the fundamental differences between Islamic and Western practices. The unit begins with the principles and history of Islamic finance and then explores differences between Western and Islamic financial practices. Learners will then develop their understanding of regulatory aspects, much of which are embedded in Islamic culture and the Qur’an, with limited formality for legal regulation. Learners will understand the importance of the Shariah Boards that govern practice in Islamic institutions, including their constitution of Islamic scholars.