Islamic Law and Commerce (LAWS6975)


This unit is about the doctrine and application of Islamic law in contemporary commercial environments. It is divided into two parts. Part 1 introduces Islamic law and its sources, before moving to discuss Islamic contracts, remedies and dispute resolution. It concludes by providing a contemporary overview of legal systems and business environments across the Islamic world. Part II contextualises the discussion through a focus on Islamic banking and finance, with particular reference to Malaysia and South East Asia. Topics will include: Malaysia's dual banking system and regulation of Islamic banking; methods of Islamic home financing; corporate capital raising, Islamic capital markets, sukuks (asset-based bonds) and takaful (Islamic insurance). It will also examine the problems of secular courts enforcing Islamic contracts.

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Apr 10, 11 & 17, 18 (9-5)


take-home exam (40%) and 5000wd essay (60%)

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