ISLAMIC COMMERCIAL LAW

LST5CLI

Not currently offered

Credit points: 15

Subject outline

In this subject students will explore some of the core principles of Islamic Commercial Law and develop a working knowledge of Islamic commercial transactions. Students will examine the primary and secondary sources of Islamic Law and the principles of S'hariah sales and contracts. Students will also examine the role that historical, economic and social factors play in shaping the main features of Islamic commercial law.

SchoolLa Trobe Law School

Credit points15

Subject Co-ordinatorReeta Verma

Available to Study Abroad StudentsYes

Subject year levelYear Level 5 - Masters

Exchange StudentsYes

Subject particulars

Subject rules

PrerequisitesN/A

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsUnderstanding Islamic FinancePrescribedMuhammad AyubCHICHESTER, WEST SUSSEX: WILEY, C 2007
ReadingsIslamic commercial law: an analysis of futures and optionsRecommendedMohammad Hashim, KamaliUK: ISLAMIC TEXTS SOCIETY, 2000.
ReadingsUnderstanding Islamic Law (Sharia'a)RecommendedRaj BhallaLEXISNEXIS

Graduate capabilities & intended learning outcomes

01. Be able to describe the primary and secondary sources of Islamic Law (Sharia'ah).

Activities:
Students will learn about the sources of Islamic Law through discussions, research and inquiry. Students' knowledge will be tested in the class test through false and true statements calling for correct answers with justification for the answers.

02. Be able to examine and apply to the fact situations the Islamic Law principles relating to Islamic commercial transactions and compose a Sharia'ah compatible opinion which applies to relevant situations.

Activities:
Students will practice the skills of problem-solving in tutorials through real and hypothetical case analyses. The skills will be tested in class test, assignment and the end of semester examination.

03. Be able to identify Sharia'ah compliant sales and contracts.

Activities:
Students will discuss both in lectures and tutorials various situations involving Sharia'ah compliant and non-compliant transactions. Their knowledge will be tested in the assignment and in problem-solving questions in the final examination.

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