ICM268-Islamic Capital Markets

Module Provider: ICMA Centre
Number of credits: 10 [5 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2018/9

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

Type of module:

Summary module description:

This module develops deeper analytical and theoretical insights of the regulatory frameworks and instruments traded in the Islamic capital markets. 

This module is delivered at University of Reading Malaysia only. 

Aims:

The Module aims at providing an in-depth analysis of the instruments traded in Islamic capital markets, market place, Islamic REITs, Islamic ETF, Islamic venture capital and private equity. This Module also provides cursory view of regulatory frameworks and current issues on Islamic capital markets.  

Assessable learning outcomes:

Students will be able to demonstrate an appreciation of the various types of instruments traded in the Islamic capital markets, the types of structures/contracts used and the marketplace in which the instruments are traded. Students should also be able to compare and contrast between conventional and Islamic capital market instruments.

Additional outcomes:

Outline content:

1. Introduction to Islamic Capital Markets: Shari’ah & Regulatory frameworks and Infrastructures 

2. The Islamic Interbank Money Market 

3. Sukuk: Structure, Operation, Rating & Issuance Process 

4. Stocks, Equity Markets & Shari’ah Stock Screening 

5. Islamic Venture Capital & Private Equity 

6. Islamic Unit Trusts/Mutual Funds and Islamic REITs 

7. Shari’ah compliant derivative instruments 

8. Current issues in Islamic capital markets (including mini case studies) 

Brief description of teaching and learning methods:

Full-time: Lectures: a two-hour lecture introduces each topic. Seminars: students meet in small groups for a series of seminars. Seminar discussions are based on non-assessed coursework set by the instructors. 

Summative assessment- Examinations:

Two hours. 

Summative assessment- Coursework and in-class tests:

Formative assessment methods:

Penalties for late submission:

Assessment requirements for a pass:
50% weighted average mark

Reassessment arrangements:
By written examination only, as part of the overall examination arrangements for the MSc programme.

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