Course info

This course will focus on advanced study of the functioning of the economic system, with particular reference to financing of Business forms after the abolition of interest: Main Topics: Labour, Law, Capital and enterprise, their relative roles in the productive process and the principle of their rewards in the context of interest free Islamic economy; the various forms of equity participation in business with an evaluation of their economic and social Consequences in the light of Shariah; Acquisition of additional capital on the principles of Mudaraba; The supply of short term funds to business firms in an interest free system; Integration between the decision to save and the decision to invest in the profit sharing system and its implications for economic analysis.  Other topics include; product development in Islamic finance framework; violation of Islamic finance principles in Nigeria financial markets; development of Islamic capital market and instruments; development and challenges of Islamic banking and finance in the west; Islamic microfinance and non-banking Islamic financial institutions such as Takaful Islamic finance, Islamic funds and Islamic pension scheme.