IEF 333 - International Islamic Financial Institutions

The aim of this course is to introduce the Third-Year Undergraduate Students of Istanbul Sabahattin Zaim University to some of the most important International Islamic Financial Institutions in the world and familiarize them with 14 of the major ones.

This course provides the students with a comprehensive understanding of the historical developments, the basic principles, the objectives, the vision and mission, the functions, the roles and the basic issues and problems of the selected International Islamic Financial Institutions.

This course will concentrate on some of the International Islamic Financial  Institutions such as the Organization of Islamic Cooperation (OIC), the Islamic Development Bank (IsDB), the Islamic Research and Training Institute (IRTI), The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), The International Islamic Trade Finance Corporation (ITFC) The Islamic Centre for Development of Trade (ICDT), the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the Islamic Financial Services Board (IFSB), The Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC), The Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC) and General Council for Islamic Banks And Financial Institutions (CIBAFI).

The course is expected to assist students in developing their understanding of the ways of establishing international Islamic Financial Institution, examines the relationship between the different members of an institution and explores and analyses the objectives, roles, functions, missions and visions of different Islamic Financial Institutions.

Course Description

Every financial system, Islamic or conventional has its own infrastructural and institutional requirements and support. The Islamic financial system is no exception. It also needs some infrastructural institutions that support the advancement of Islamic finance.

There is a quite good number of supporting Islamic International financial institutions that have been established in different Islamic countries, in order to give the needed support to the Islamic financial institutions worldwide, so that they can overcome many of the difficulties and challenges they face.

These International Islamic Financial Institutions have been very instrumental in helping the Islamic banks and other Islamic financial institutions to be well established or managed adequately to serve the purposes they were established for.

The Course “International Islamic Financial Institutions” introduces the main International Islamic Financial Institutions to the Students of Istanbul Sabahattin Zaim University (IZU), who chose to take this course, in order to raise their awareness about the importance of these Islamic International Financial Institutions and familiarize them with 14 of the major ones in 14 weeks of the Semester.

This course provides an in-depth analysis of international Islamic financial institutions, exploring their unique structures, functions, and contributions to the global financial system, emphasizing the principles of Islamic finance, such as risk-sharing, ethical investments, and prohibition of usury and interest (Riba), the course investigates how these institutions operate within the framework of the Islamic Shariah law.

This course provides the IZU students with a comprehensive understanding of the historical developments, the basic principles, the  main objectives, the vision,  the mission, the core values, the functions, and the roles of these Islamic International Financial institutions.

Ahmet Tabakoğlu İEF

Ahmet Tabakoğlu İEF