Faculty of Business and Management Sciences · Business Administration · Undergraduate
ECTS: 5 T+P+L: 3+0+0 University Elective
Coordinator:
Course Objective
General Information
Course Description
The primary aim of this course is to explore the role of ethics and governance within Islamic economics and financial institutions. The course begins with a discussion on the meaning and foundations of ethics, before moving into real-life ethical dilemmas—cases where the distinction between right and wrong is not always clear-cut. Students will be encouraged to critically analyze such conundrums, debate alternative perspectives, and reflect on how ethical reasoning shapes individual and institutional behavior.
In addition to ethics, the course examines the structures of governance in Islamic financial institutions, with a focus on Shariah compliance, regulatory frameworks, best practices, and strategic alignment with long-term stakeholder value. By linking ethical principles with governance mechanisms, students will gain an integrated understanding of how policies, decisions, and behaviors influence the credibility and sustainability of Islamic institutions.
Expectations and Goals
By the end of the course, students should be able to:
- Demonstrate a solid understanding of ethical concepts and theories, particularly as they relate to Islamic economics.
- Analyze complex ethical dilemmas where the “right” choice may not be obvious, and defend their reasoning with clarity and evidence.
- Identify and assess the consequences of ethical and governance breaches within Islamic financial institutions.
- Apply governance frameworks and best practices to promote integrity, transparency, and accountability in organizational contexts.
- Develop the ability to link ethical reflection with practical decision-making in Islamic economic and financial settings.
Course Content
Week | Topic | ||
|---|---|---|---|
Week 1 | Introduction to the course |
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Week 2 | Islamic Economics & The Role Of Values, Ethics And Culture |
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Week 3 | Understanding Ethics |
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Week 4 | Ethics and the Public Sector | ||
Week 5 | Theories of value and its relationship to Ethics | ||
Week 6 | Ethics & Islamic Governance | ||
Week 7 | Risk Management and Internal Controls | ||
Week 8 | Duties and Powers of Directors & Shareholders | ||
Week 9 | Midterm | ||
Week 10 | Corporate and Shariah Governance of Islamic Banks | ||
Week 11 | Legal and Regulatory Aspects of Shariah Governance | ||
Week 12 | The Internal Shariah Control System / Stages of Shariah Supervision | ||
Week 13 | The Shariah Supervisory Board and Internal Regulations | ||
Week 14 | IFSB-30: Revised Guiding Principles on Corporate Governance for IIFS |
Course Learning Outcomes
- To provide students to learn the moral principles related to economic activities in Islam.
Core Area Distribution
(34) Business and Administration%100