College: Graduate Studies Program Institute

This specialization focuses on the principles and practices of economics and finance within the framework of Islamic law. Students explore Islamic banking, financial instruments, ethical investing, and Islamic economic teachings. The program emphasizes applying Islamic principles to modern financial systems, promoting ethical and socially responsible financial practices. Graduates are prepared for careers in Islamic banking, financial consultancy, and Sharia-compliant investments.

Learning Objectives:

• Understand the fundamentals of Islamic economics and finance.
• Develop skills in Islamic banking and financial instrument analysis.
• Learn ethical investment techniques and Sharia-compliant financial practices.
• Explore Islamic economic teachings and their modern applications.
• Understand risk sharing, profit sharing, and social responsibility in Islamic finance.
• Analyze challenges and opportunities in Islamic economics and finance.
• Develop teamwork and problem-solving skills for Islamic financial projects.

Main Framework:

1. Introduction to Islamic Economics and Finance - Overview of Islamic economics and finance, principles, and historical development.
2. Islamic Banking - Principles of Islamic banking, operation management techniques, and product management.
3. Islamic Financial Instruments - Fundamentals of Islamic financial instruments, analysis, and utilization techniques.
4. Ethical Investment - Principles of ethical investment in Islamic finance and techniques for Sharia-compliant investments.
5. Economic Teachings of Islam - Exploring Islamic economic principles and techniques for modern financial systems.
6. Risk Management in Islamic Finance - Principles of risk management in Islamic finance, risk sharing, and mitigation techniques.
7. Sharia Compliance and Governance - Understanding Sharia compliance, governance, and regulatory frameworks in Islamic finance.
8. Social Responsibility and Sustainable Finance - Principles of social responsibility and sustainable finance in Islamic economics.
9. Emerging Trends in Islamic Economics and Finance - Analyzing innovations like Fintech and blockchain in Islamic finance.
10. Capstone Project in Islamic Economics and Finance - A practical project to apply acquired skills in Islamic banking, financial analysis, or ethical investment.

Assessment Methods:

• Islamic banking plans, financial instrument analyses, ethical investment portfolios, application of economic principles, risk management strategies, Sharia compliance reports, social responsibility projects, research papers, group projects, and internships.

Recommended Textbooks:

• "Islamic Finance: Law, Economics, and Practice" by Nabil Saleh.
• "Islamic Banking and Finance: Principles and Practice" by Muhammad Nejatullah Siddiqui.
• "Ethical Investment and Islamic Finance" by Muhammad Ariff.
• "The Economy of Islam" by Muhammad Akram Khan.

Prerequisites:

Basic knowledge of economics, finance, and Islamic law. Suitable for students interested in Islamic economics, Islamic finance, and ethical investing.

Duration of Specialization:

Typically 4 years for a bachelor's degree, including coursework, projects, and internships.

Certification:

Graduates may obtain a degree in Islamic economics and finance and pursue certifications like Certified Islamic Finance Executive (CIFE) or Certified Sharia Advisor and Auditor (CSAA).

Target Audience:

Aspiring Islamic finance professionals, bankers, financial advisors, ethical investors, and scholars seeking specialization in Islamic economics and finance. This specialization equips students with the knowledge and skills necessary to excel in Islamic economics and finance, promoting ethical and socially responsible financial practices.