University of Management and Technology
Course Outline
Course Code: IB - 615
Course Title: Issues of Fiqh Relating to Islamic Banking
Program
MS Islamic Banking and finance (MS – IBF)
Credit Hours
03
Duration
15 weeks (15 sessions)
Prerequisites
N/A
Resource Person
DR.TALAT HUSSAIN
Counseling Timing
(Room #
)
Contact
Chairman/Director signature………………………………….
Dean’s signature……………………………
Date………………………………………….
Course Outline
Page 1
Learning Objective:
Shariah has opened the doors of creativity and innovation broadly to Muslim Ummah to develop
their economic activities in fulfilling their needs under the light of divine guidance. One of the
natures of Fiqh discipline is the availability of several opinions of Islamic jurists pertaining to an
issue. This nature is seen as an advantage rather than as an obstacle. In the real world practice, it
means that the Islamic banking could choose any juristic opinion to manage its affairs. However
the selection of juristic opinion should take into consideration the juristic standing of the
customers. Fiqh helps a lot for in area in which Islamic financial institutions should focus
because it is vital to ensure the acceptance and marketability of the Islamic financial products.
With this understanding in mind, it can be derived that understanding the Fiqh is imperative and
the area of Islamic banking and finance.
The subject shall contribute to the understanding, advancement and acceleration of the process of
Islamic financial product development from the Shariah aspect, as it is the most imperative tool
for the Islamic financial institutions to meet their increasing concern about profitability, liquidity,
assets value, risk management as well as product acceptability. It could also help the
practitioners to come up with more preferable financial products to both customers and players.
Learning Methodology:
Class preparation and participation:
Students are required to read assigned material before coming to class. The instructor will assess student’s
level of preparation by raising questions on the assigned topics.
Examinations:
As per the University policy.
Assignments and Presentations:
All assignments for formal evaluation must be typed and submitted by the specified due dates. Topics of
assignments would be assigned by the course instructor from the given topics. Each student will be
required to make fifteen minutes class presentation on the topic assigned.
Class Attendance:
Attendance policy of the university would be strictly followed.
Course Outline
Page 2
Grade Evaluation Criteria
Following is the criteria for the distribution of marks to evaluate final grade in a
semester.
Marks Evaluation
Marks in percentage
Quizzes
10
Assignments
10
Mid Term
20
Term Project & Presentations
20
Final exam
40
Total
100
Recommended Text Books/Readings:
1. Islamic Banking, Dr. Muhammad Imran Ashref Usmani, Darul-shaat Karachi
2. An Introduction to Islamic Finance, Mufti Taqi Usmani, Darul-shaat Karachi
3. Islamic Law of Contracts and Business Transactions, Dr. M. Tahir Mansoor, Sharia
Accademy-iiui
4. IIU ‫اسالمی مالیات از محمد ایوب رفاہ سنٹر آف اسالمک بزنس السالم آباد انٹرنیشنل اسالمک یونیورسٹی اسالم‬
‫آباد‬
5. ‫قوا عد اصولیہ میں فقہاء کا اختالف اور فقہی مسائل پر اس کا اثر از ڈاکٹر مصطفے شریعہ اکیڈمی‬
6. ‫اسالمی بینکاری کا اسالمی تعلیمات کی روشنی میں جائزہ از خلیل الرحمن ۔ ابن باز اکیڈمی کراچی‬
7. ‫کتاب الفقہ علی المذاہب االربعہ ازمحمد الرحمت الجزیری۔ عطاء اکیڈمی بادشاہی مسجد الہور‬
8. ‫کتاب ااالموال امام ابو عبید القاسم‬
9. ‫ جامع الجعفری مترجم از سید عابد حسین جعفری کتب خانہ کربال گامے شاہ‬، ‫کربال گامے شاہ‬
Course Outline
Page 3
Calendar of Course contents to be covered during semester
Course Code: IB - 615
Week
1
Course Contents
Reference Chapter(s)
Brief Introduction to Fiqh

2
Course Title: Issues of Fiqh Relating to Islamic Banking
Fiqh usool-ul-fiqh and Qawai Al-Fiqqiyah
Temperament of fiqh
1.Shari`ah and Fiqh
2.Law and Jurisprudence
3. Characteristics of Fiqh and Shari`ah.
4. Shari`ah and other Laws.
3
Objectives of fiqh
1.Theory of Maqasid
2.The aims and purposes of Fiqh and Usul Al-Fiqh
4
Sources of Fiqh:





5
Textual Sources:
The Qur ́an. Characteristics of Qur ́anic
legislation
Sunnah. Its place in Islamic legislation
Ijtihad. Its Meaning and techniques
Ijma`and other sources
Qiyas
Legal Capacity
Legal Maxims:
1. Significance and scope.
2. Major sources on legal maxims.
3. Study of five legal maxims.
Course Outline
Page 4
6
7
Difference of opinion in fiqh matters and its
reasons.
CONTRACT
1.
2.
3.
4.
5.
Sahih Valid
Fasid Vaidable
Batil Vaid
Islamic Law of Options (Khiyaraat)
Pledge (Rahn)
8
MIDTERM EXAM
9
GROUP PRESENTATIONS
10
Islamic Modes of Financing
11
Islamic Modes of Financing
12
Islamic Modes of Financing
13
Insurance and Takaful
14
Islamic Investments
1. Investment Funds
2. Limited Liability
15
REVISION and PRESENTATIONS
Course Outline
Page 5