fin5ins islamic insurance
ISLAMIC INSURANCE
FIN5INS
2014
Credit points: 15
Subject outline
In this subject, students will develop an understanding of the theory and practice of Islamic insurance (takaful) vis-á-vis conventional insurance. On successful completion of this subject, students will have a sound understanding of the concept of insurance, its types, operating principles, shariah objections on conventional insurance, alternative models of Islamic insurance and contemporary issues. They will be able to do a shariah audit of takaful operations, identify issues with its business models and suggest shariah-complaint solutions where appropriate.
FacultyFaculty of Business, Economics and Law
Credit points15
Subject Co-ordinatorHayat Khan
Available to Study Abroad StudentsYes
Subject year levelYear Level 5 - Masters
Exchange StudentsYes
Subject particulars
Subject rules
Prerequisites FIN5POF and ECO5POE or BUS5AFS
Co-requisitesN/A
Incompatible subjectsN/A
Equivalent subjectsN/A
Special conditionsN/A
Learning resources
Readings
Resource Type | Title | Resource Requirement | Author and Year | Publisher |
---|---|---|---|---|
Readings | Lecture handouts | Prescribed | Khan, Hayat | KHAN, HAYAT |
Readings | Insurance and Islamic law | Recommended | Musleh-Ud-Din, M. | NEW DELHI: ADAM PUBLISHERS & DISTRIBUTORS, 2006 |
Readings | Insurance in an Islamic economy | Recommended | Siddiqi, M. N. | UK: THE ISLAMIC FOUNDATION, 1987 |
Readings | Islamic and modern insurance: principles and practices | Recommended | Billah, M. N. | PETALING JAYA:ILMIAH PUBLISHERS SDN BHD, 2003 |
Readings | Islamic insurance: A modern approach to Islamic banking (1st ed.) | Recommended | Khorshid, A. | UK:RUTLEDGE CURZON, 2004 |
Readings | Other as specified by the subject coordinator | Recommended | N/A | N/A |
Readings | Risk and insurance management | Recommended | Chin, Y. W. | SINGAPORE: PRENTICE HALL, 2004 |
Readings | Takaful Islamic Insurance: Concepts and Regulatory Issues | Recommended | Karim, S., Karim, R. A. A., and Nienhaus, V. | JOHN WILEY & SONS INC.,2009 |
Subject options
Select to view your study options…
Melbourne, 2014, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorHayat Khan
Class requirements
LectureWeek: 31 - 43
One 2.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
TutorialWeek: 32 - 43
One 1.0 hours tutorial per week on weekdays during the day from week 32 to week 43 and delivered via face-to-face.
Assessments
Assessment element | Comments | % |
---|---|---|
group discussions and presentations | 10 | |
one 1,500-word assignment | 20 | |
one 1-hour mid-term test | 20 | |
one 2-hour examination | 50 |