PGD in Islamic Banking

DIRECTORATE OF DISTANCE LEARNINNG

GOVERNMENT COLLEGE UNIVERSITY,

FAISALABAD

Summary of Proposed

PGD in Islamic Banking

Title of the program PGD in Islamic Banking

Duration of the program 1 year

System of Examination 2 Semesters( 2 Semester each has 18 weeks)

Eligibility of Admission B.A / B.Sc with Second Division

Medium of Instruction: English

Students‘ Assessment As per University Rules and Regulations

Total Credit 36

Requirement for Grant of Degree The students shall qualify all the requirements:

1)Theory

2)Practical

3) 4 weeks internship and

case study report

Eligibility to appear in the examination

Fee structure

As per Rules and Regulation of the University.

35000/- per semester

Course out line

Module I : Islamic Economics & Finance

This module provides an introduction to the concepts of Islamic economics and Divine Guidance

in Islam for the development of an interest-free economy based on the principles of socio-

economic justice. The module also explains the objective (the maqasid) of Shari'ah that provides

a moral framework for conducting business and personal dealings with justice and fairness.

Lesson 1. Introduction to Islamic Economics

Lesson 2. Divine Guidance for a Moral Economy

Lesson 3. Evolution of Islamic Interest-free Banking

Lesson 4. Realisation of Maqasid Al-Shari'ah (Objectives of Islamic Law)

Module II : Islamic Commercial Law & Contract

This module explains the Islamic principles and the modes used in financing and contracts, such

as Qard, Dayn, Musharakah, Mudarabah, Ijarah, Wakalah, Kafalah, Hawalah, Jua'lah and

Tawarruq.

Lesson 1. Early Contracts, Rules of Sales(Bai) and Evolution of Islamic Commercial Law

Lesson 2. Concept and Rules of Loan (Qard) and Debt (Dayn)

Lesson 3. Concept of Partnerships: (Shirkah) Musharakah, and Mudarabah

Lesson 4. Diminishing Musharakah

Lesson 5. Credit Sales: Murabaha and Musawamah, Commodity Murabaha (Tawarruq)

Lesson 6. Foward Sales: Salam and Istisna'a

Lesson 7. Leasing: Ijarah as Financing Modes

Lesson 8. Supporting Shari'ah Contracts and Hibah (Wakalah, Jua´lah, Tawarruq, Kafalah, Rahn,

Hawalah, Istijrar, Amanah, Wadiah, Hibah)

Module III : Islamic Banking Operations

This module provides an introduction to the conventional banking system and goes on to deal

with the key operations of Islamic banks and co-operation between conventional and Islamic

banks. 

Lesson 1. Outline of the Conventional Banking System

Lesson 2. Deposit and Resource Mobilisation by Islamic Banks (Liability Side)

Lesson 3. Financing by Islamic Banks (Asset Side)

Lesson 4. Islamic Banks Services and Fee-based Operations

Lesson 5. Cooperation between Conventional and Islamic Banks

Module IV : Islamic Venture Capital and Financial Markets

This module deals with the Islamic Financial Markets, scope and instruments. It also discusses

the concepts of venture capital, investment funds, units trusts, securitisation and sukuk in

accordance with Islamic principles as well as use of Shari'ah screening

requirements regulate investments by Islamic banks.

Lesson 1. Islamic Venture Capital

Lesson 2. Islamic Financial Markets and Instruments

Lesson 3. Islamic Financial Derivatives

Lesson 4. Islamic Funds and Unit Trusts

Lesson 5. Securitisation and Sukuk

Lesson 6. Screening of Islamic Investments

 

Module V : Corporate Governance, Regulation and Supervision, and Financial Accounting

for Islamic Banks

This modules deals with governance and transparency issues in Islamic banks, supervisory and

regulatory issues, the role of the Religious Board, Shari'ah compliance audit, accounting and

taxation issues. Its also provides guidelines on  practical steps for establishing an Islamic bank

and conversion of Interest-Based Banking to Islamic Interest-Free Banking.

Lesson 1. Corporate Governance, Regulation and Supervision

Lesson 2. Shari'ah Compliance, Supervision and Related Issues

Lesson 3. Financial Accounting and Reporting of Islamic Banks

Lesson 4. Practical steps to establishing an Islamic Bank

Lesson 5. Product Development Issues

 

Module VI : Takaful and Retakaful

 

This module first explains the nature of risk and the different types, the concept of insurance and

reinsurance and the risks that can be protected through insurance. The rationale for the

permissibility of insurance in Islam as a form of risk protection and savings plan is also

explained. Finally, the module explains the main function areas in insurance and reinsurance

operations as well as regulation and corporate governance of insurance companies. 

 

Lesson 1. Risk, Insurance, Insurable Risk, Reinsurance

Lesson 2. Insurance Company Operations

Lesson 3. Reinsurance Company Operations

Module VII : Takaful and Retakaful Business

This module first discusses the concepts and principles of takaful along with the historical

background. It again addresses the perceived Shari'ah objections to conventional insurance.

Finally, the module explains the basic takaful operating models, the nature of family takaful and

general takaful business as an alternative to life and general insurance business in conventional

insurance. The module also examines retakaful as an alternative to convential reinsurance.

Lesson 1. Takaful - Concepts, Principles, Historical Background

Lesson 2.  Takaful Operations

Lesson 3. Basic Operating Models of Takaful

Lesson 4. Family Takaful Business

Lesson 5. General Takaful Business

Lesson 6. Retakaful 

 

 

Module VIII : Takaful - Corporate Governance, Regulation, Supervision

 

This module deals with key issues concerning Corporate Governance, Regulation and Shari'ah

Supervision in the Takaful framework. Important related issues are also discussed.

 

Lesson 1. Corporate Governance and Regulation in Takaful

Lesson 2. Shari'ah Supervision, Financial and Accounting Issues in Takaful 

Module IX   Research Report