ICM305-Islamic Banking Practices

Module Provider: ICMA Centre
Number of credits: 10 [5 ECTS credits]
Terms in which taught: Summer term module
Non-modular pre-requisites:
Co-requisites: ICM257 The Principles of Islamic Commercial Jurisprudence and the Nominate Contracts
Modules excluded:
Current from: 2018/9

Module Convenor: Dr Mohd Pisal Zainal

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

Type of module:

Summary module description:

The course introduces basic concepts related to banking, the underlying philosophies and Shariah principles that drive Islamic banking, legal and regulatory perspectives, brief history of Islamic banking and recent developments in this industry. Students are also be informed of the suite of Islamic banking products, value-chain of the banking business,  basic techniques and practice on how to manage Islamic Banking Institutions and finally, some contemporary and pertinent issues in Islamic banking are discussed. 

This module is delivered at University of Reading Malaysia only.


The course aims to provide an understanding and appreciation of financial system and the Islamic Banking concept and operations including Shariah and legal framework, products and services offered and function of key business units.  This programme will also expose students on important techniques in managing Islamic Banking institutions to ensure it is viable and profitable. 

Assessable learning outcomes:

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


- Review the fundamental philosophies and Shariah framework of Islamic banking. 

- Recognize legal and regulatory framework governing Islamic banking. 

- Discuss the conceptual and operational practices of   Islamic banking. 

- Explain the products and services offered 

- Discuss the important techniques in managing Islamic banking institutions  

- Critically evaluate and articulate contemporary issues pertaining to Islamic banking.  

Additional outcomes:

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

Outline content:

This module covers the regulatory frameworks and operations of Islamic Banks from the global perspective, since Islamic banking and other related financial institutions exist in more than seventy countries globally. However, the module will draw heavily from the experience of Malaysia in terms of the depth and width of products offering and sound regulatory frameworks. 

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
Tutorials 20 4
Guided independent study 100 54
Total hours by term 142.00 58.00
Total hours for module 200.00

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

Summative assessment- Examinations:


Summative assessment- Coursework and in-class tests:

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

Assessment 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: 21 September 2018


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