ICM305-Islamic Banking Practices

Module Provider: ICMA Centre
Number of credits: 10 [5 ECTS credits]
Level:7
Terms in which taught: Summer term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites: ICM257 The Principles of Islamic Commercial Jurisprudence and the Nominate Contracts
Modules excluded:
Module version for: 2017/8

Module Convenor: Dr Mohd Pisal Zainal

Email: m.p.zainal@reading.edu.my

Summary module description:

The course is designed to provide students with all aspects of risk to which Islamic financial institutions (IFIs) are exposed to. The study will focus on the fundamentals in identifying, measuring and mitigating risks within a banking paradigm. Students will be exposed to tools for controlling and managing inherent and residual risks. It also highlight the principles of Islamic finance and risk management in Islamic financial contracts besides discussing on Shariah-related issues that may exist in IFIs. Other topics discussed will include BASEL guidelines and IFSB standards and issue and challenges faced by IFIs/



 



This module is delivered at University of Reading Malaysia only.


Aims:

The course aims to equip students with the fundamentals of risk management in finance. Special emphasis will be accorded towards risk management in Islamic financial institutions. In addition, knowledge on risk issues both at macro and mocro leve such as risk philosophy, policy, process, framework,. guidelines, strategies and regulatory requirements will also be diseminated to students, complete with quantitative tools to measure various types of financial risk, operational risk and capital adequacy. Shariah risk and fiduciary risk that are peculiar to Islamic finanical institutions will also be emphasised. 


Assessable learning outcomes:

At the end of the course, students are expected to be able to:




  • Describe and evaluate the existence of risks in banking and finance and the concept of risk from the Islamic perspectives.

  • Distinguish the different types of risk and be familiarised with the risk management process, and the regulatory requirements and governance.

  • Apply the quantitative tools and techniques in identifying and measuring the various types of risk.


Additional outcomes:


  • Analaytical thinking, critical thinking, problem solving skills and working in a team as well as presentation skills. 


Outline content:

This modules covers the fundamentals of risk and their management. In addition, the current risk environment, risk issues, frameworks, guidelines, standards and strategies will also be discussed.


Brief description of teaching and learning methods:


  • Two hour lectures combined with two hour tutorials

  • Group working for assignment and group presentation


Contact hours:
  Autumn Spring Summer
Lectures 22
Guided independent study 78
       
Total hours by term 100.00
       
Total hours for module 100.00

Summative Assessment Methods:
Method Percentage
Written exam 50
Written assignment including essay 40
Oral assessment and presentation 10

Other information on summative assessment:

Formative assessment methods:

Penalties for late submission:

The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy. 




  • where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;



where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf



Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Length of examination:

Three-hour


Requirements for a pass:

A weighted avergae of 50%


Reassessment arrangements:

To re-sit the examination, if the weighted average is below 50%


Additional Costs (specified where applicable):

1) Required text books:



2) Specialist equipment or materials:



3) Specialist clothing, footwear or headgear:



4) Printing and binding:



5) Computers and devices with a particular specification:



6) Travel, accommodation and subsistence:


Last updated: 31 March 2017

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