Fiqh of Business and Financial Transactions

HomeFiqh of Business and Financial Transactions

Instructor: DR. Abdulazeem Abozaid

NEXT ENROLLMENT
January 26, 2025  
DELIVERY FORMAT
Online
TUITION
500 CAD
COURSE LENGTH
  12 Weeks+ Exam  
Weekly Schedule
                    Sundays: 10:00 AM to 1:00 PM (EST time zone)          

COURSE DESCRIPTION

In the Fiqh of Business and Financial Transactions course, students delve into the fundamentals of Islamic Financial Law. This comprehensive course provides a deep understanding of the principles and perspectives of Shariʿah (Islamic law) in relation to crucial contemporary financial transactions. Throughout the course, students will explore and analyze various topics, including: Dealing with credit cards, cryptocurrency, stocks, and financial derivatives within the framework of Islamic Financial Law; Comprehensive examination of the concepts and rules of usury/interest (riba) and uncertainty/hazard (gharar), along with their applications in modern financial contexts; Understanding the implications of bank loans and gambling from an Islamic perspective, and In-depth exploration of primary Islamic banking products, their features, and their compliance with Shariʿah principles. The successful completion of this course will equip participants with essential Shariʿah knowledge necessary for Muslims who aspire to adhere to Shariʿah rules in their financial dealings and investments. Students will engage in interactive lectures, case studies, group discussions, and practical exercises to deepen their understanding of Islamic Financial Law. The course emphasizes critical thinking, analysis of contemporary financial practices, and the application of Shariʿah principles in real-world scenarios.  

 

LEARNING OUTCOMES 

Upon successful completion of the course, students should be able to: 

  1. Demonstrate a comprehensive understanding of the basic concepts of Islamic banking and finance applied locally and globally. 
  2. Explain the theories and concepts underlying Islamic financial instruments used in the Islamic finance industry. 
  3. Implement Islamic finance concepts in real-life situations, particularly in the day-to-day management of finances for businesses, ensuring compliance with Shariʿah principles. 
  4. Analyze and evaluate finance theories and concepts from the perspective of Islamic philosophy and Shariʿah, considering the mechanisms involved in developing Islamic financial products. 
  5. Recognize and appreciate the efforts made at both the state and private sector levels in various Islamic countries to foster economic growth based on the universal principles of Shariʿah. 
  6. Identify and assess the challenges encountered in transitioning the finance industry and the economy from interest-based transactions to interest-free modes. 
  7. Recognize the relevance and applicability of the system and rulings of Islamic transactions in contemporary society, with specific examples addressing current societal issues. 
  8. Apply Shariʿah knowledge effectively in business and finance, ensuring adherence to Islamic principles and ethical guidelines. 
  9. Describe the foundations of Islamic jurisprudence, the theory of contract, and the principles governing Islamic financial transactions.
  10. Evaluate the Shariʿah compliance of products and services through a comprehensive understanding of Islamic jurisprudence, the theory of contract, financial transactions, and governance. 
  11. Conduct independent research on topics related to Islamic banking and finance, utilizing appropriate sources and methodologies to gather relevant information and critically evaluate its implications. 
  12. Demonstrate effective written and oral communication skills in presenting research findings, articulating ideas, and engaging in discussions on the principles and practices of Islamic banking and finance. 
  13. Demonstrate the ability to build and maintain positive working relationships and establish meaningful connections with the College, students, the community, community partners, and professionals from other fields. 

 

PREREQUISTIES

None

Meet the course Instructor 

Dr. Abdulazeem holds a PhD and a master’s degree in Islamic Financial Law; three BAs in Islamic Law, Arabic Language and English Literature; and two higher studies diplomas in Islamic Law and Human Sciences. He has worked at universities as well as Islamic banks.
Professor of Islamic Finance at the College of Islamic Studies, Hamad Bin Khalifa University, Doha, Qatar. Dr. Abozaid is the  Chairman of the Advisory Committee of Experts (ACE) of Jaiz Bank. He serves as a Shariah advisor to Five Pillars as well as Methaq Takaful Insurance, and has previously been a member of various boards including Oman Arab Bank and RHB Islamic Bank.
His research interests lie in the fields of Islamic Law, Islamic Finance and Islamic Banking. He has also taught at the International Islamic University in Malaysia.  He combines between the practical experience in Islamic banking through working at different Islamic banks as Shariah expert, trainer and Shariah head and between the academic knowledge in Islamic financial law.
He authored more than 70 publications in Islamic finance including books, articles, and journal entries on Shariah and Islamic finance, presented and more than 50 papers at international conferences. He is a Shariah Expert and educator in Islamic finance. He consulted many institutions including Al-Maali Training and Consultation, Dubai and Emirates Islamic Bank, Dubai.
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