Course Title: Introduction to Islamic Law & Commercial Transactions

MASTER OF LAWS

Course Code: LAW 611

Course Title: Introduction to Islamic Law & Commercial Transactions

Instructor: Andrew White

Title: Associate Professor of Law

Director, International Islamic Law & Finance Centre

Email:

Pre-requisite/CO-REQUISITE/MUTUALLY EXCLUSIVE cOURSE(S)

There are no pre-requisite, co-requisite, or mutually exclusive courses with this course.

COURSE specialisation

Islamic Law & Finance

Grading BaSIS

Graded

Course UNIT

1 CU

term

Academic Year: AY2013/2014

Academic Term: Term 1 (June 2013)

COURSE DESCRIPTION

LEARNING OBJECTIVES

By the end of this course, participants will be able to:

· Understand basic principles of Islamic law and jurisprudential methodology

· Engage in meaningful analysis and application of Islamic legal opinions and scholarship

· Understand basic structures and facilities used in Islamic finance and investment

· Understand documentation issues, as arise in practice and to be discussed in subsequent course work

Assessment Method

Class activities (class participation) : 15%
Group Projects Assignment (20% for written submission, 15% for oral presentation) : 35%

Individual Research Paper (there is no end of course exam): 50%

INSTRUCTIONAL MethodS AND EXPECTATIONS

The method of instruction will be seminar style lectures with a high-level of student/lecturer interaction. Class participation will be graded upon the quality of meaningful input in the classroom discussions, not merely upon the frequency of participation. Everyone is expected to read the given materials assigned for classroom discussions. Creative thinking and peer learning is expected through open sharing from real work situations.

Important: Academic Integrity

All acts of academic dishonesty (including, but not limited to, plagiarism, cheating, fabrication, facilitation of acts of academic dishonesty by others, unauthorized possession of exam questions, or tampering with the academic work of other students) are serious offences.

All work (whether oral or written) submitted for purposes of assessment must be the student’s own work. Penalties for violation of the policy range from zero marks for the component assessment to expulsion, depending on the nature of the offence.

When in doubt, students should consult the instructors of the course. Details onthe SMU Code of Academic Integrity may be accessed athttp://www.smuscd.org/resources.html.

COURSE SCHEDULE

The order of material covered in the sessions below is subject to change; specific assigned readings will be detailed at least one month prior to the course commencement.

Session / Description (General Summary of Material to be Covered) / Readings
1 / al-Sharī‘ah and commercial jurisprudence (fiqh al-mu‘āmalāt) / Kamali
2 / jurisprudential methodology: ijtihād, tafsīr, ta’wīl, al-dalālāt / Kamali
3 / continued discussion of methodology: ta‘līl, qiyās, ijmā‘ / Kamali
4 / continued methodology: istihsān, maslahah mursalah, maqāsid al-Sharī‘ah / Kamali
5 / Islamic law of contracts, general theory and philosophy of contract;
limits on freedom of contract, nominate contracts, forbidden elements of contract / Haqqi,
Nawawi
6 / Islamic law of partnerships and partnership contracts / Nyazee,
Nawawi
7 / Islamic finance: historical roots, modern developments, overview of industry;
obstacles to growth and legal frameworks (both internal and external to IFIs) / (to be
assigned)
8 / basic contracts and partnership structures used in Islamic finance (cont’d) / Haqqi,
Nawawi
9 / basic contracts and partnership structures used in Islamic finance (cont’d) / (to be
assigned)
10 / summary of course and introduction to legal documentation and risk concepts / (none)

Course Title: Introduction to Islamic Law & Commercial Transactions

COURSE DESCRIPTION

Recommended Text and Readings

Assessment Method

COURSE SCHEDULE

The order of material covered in the sessions below is subject to change; specific assigned readings will be detailed at least one month prior to the course commencement.