Regulation and Governance of Islamic Finance

MODULE

Credits
15
Leader
Shaikh Faizal Ahmad Manjoo
Prerequisites
Available only to students holding an undergraduate degree; alternatively Accredited Prior Learning (APL) can be considered for this module subject to approval bu MIHE's academic management committee.
Restrictions

This module aims to offer students a useful background on the importance of banking regulation and consequences of imprudent banking behaviour through reference to past banking crises and the present global economic recession. The module explains the regulatory goals of Islamic finance, built-in stabilisers in Islamic finance and corporate governance provisions of AAOIFI Shari’ah standards. It introduces student to the nature of banking risks and how international regulatory measures evolved through Basel I, Basel II and Basel III up to the present time to pursue prudent banking behaviour. It also considers the main issues of corporate governance with regard to Islamic financial institutions.

Workload

Assessment Methods

Assessment: Students should prepare a portfolio (c. 5,000 words) of five main regulatory issues appearing in the mass media in UK such as Financial Times or the websites of law firms or Bank of England during the current academic year and analyze how these may impact on Islamic finance.