IEF 321 - Islamic Commercial Law - I

Faculty of Business and Management Sciences · Economics (English) · Undergraduate

ECTS: 5 T+P+L: 3+0+0 University Elective
Coordinator:

Course Objective

The objectives of this course are to:

  1. To provide the students with the introductory knowledge of Islamic Fiqh. 
  2.  To teach the students the theories of Fiqh on property (Al-Maal), rights (Al-huquq), ownership (Al-milkiyah), and contract (Al-‘aqd).
  3. To expose students to discussions on usury, gharar, maysir and prohibited properties. 
  4. To prepare students for the study of the various transactions in Islamic Commercial Law II and other more advance courses in Fiqh-ul-Mu’aamalah.

Course Content

It is an introductory course which deals with the definition and explanation of some basic Shari’ah terms in relation to Fiqh-ul-Mu’aamalat. These include the sources for Fiqh-ul-Mu’aamalat, objectives of Shari’ah and legal maxims. The course also has a comprehensive coverage on the topics of property, rights, ownership, and contracts. The course also includes discussions on riba, gharar, maysir and prohibited properties. 

Course Learning Outcomes

  1. Demonstrate the importance of the knowledge of Fiqh Mu’amalat in economic activities
  2. Apply the principles of Fiqh Mu’amalat to their daily economic and business activities
  3. Demonstrate the knowledge of the theories of property, rights, ownership, contract, riba, maysir and gharar
  4. Demonstrate the ability to identify the prohibitive elements in financial and commercial activities

Core Area Distribution

(22) Humanities%30 (38) Law%70