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U.O.No. 13209/2016/Admn Dated, Calicut University.P.O, 08.11.2016

File Ref.No.10106/GA - IV - B1/2014/CU

UNIVERSITY OF CALICUT

AbstractBA Programme in Islamic Finance with Computer Application - CUCBCSS UG 2014 - Scheme andSyllabus - Approved - Implemented with effect from 2014 Admissions-Syllabus of AdditionalLanguage Courses (Arabic) - Aberration from common Regulations - rectified orders issued subjectto the ratification of Academic Council.

G & A - IV - B

Read:-1.U.O.No. 7454/2014/Admn Dated, 01.08.2014.2.U.O.Note No. 26495/EX- IV-ASST-3/201-4/PB Dated: 18.02.2016.3.Corrected syllabus received from through email dated 07-11-2016.4.Orders of the Vice Chancellor in the file of even No. Dated 11-10-2016.

ORDER

Vide paper read as first above, the Scheme and Syllabus of B.A. Programme in Islamic Financewith Computer Application under CUCBCSS Regulations, was implemented with effect from 2014Admission onwards.

Vide paper read second above, Pareeksha Bhavan has pointed out that the Syllabus of B.Alslamic Finance with Computer Application (CUCBCSS-2014 Admission), largely deviates from thecommon regulations for UG-CUCBCSS (2014) Programmes in terms of Common Courses Arabic(Additional Language).

Vide paper read third above,the Chairman has submitted the Syllabus after making changes intune with common regulation of CUCBCSS.

Vide paper read fourth above, the Vice Chancellor, considering the exigency, and exercisingthe powers of the Academic Council, has approved corrections of common course codes ofB.A.Islamic Finance with Computer Application and the recommendation of the Chairman todrop the prescribed course as it is against the CUCBCSS regulation and the same be replacedby the course codes and names of common courses (Arabic) subject to ratification by theAcademic Council.

Sanction has, therefore, been accorded to drop the prescribed course as it is against theCUCBCSS regulation and the same be replaced by the course codes and names ofcommon courses (Arabic) in the syllabus of B.A. Islamic Finance with Computer Application underCUCBCSS Regulations with effect from 2014 Admission onwards.

1. ARB 1 A 07 Communicative Skills in Arabic (I semester).

2. ARB 2 A 08 Translation and Communication (II semester).

3. ARB 3 A 09 Literature in Arabic (III semester).

Anuja Balakrishnan

Deputy Registrar

Forwarded / By Order

Section Officer

4. ARB 4 A 10 Culture and Civilization (IV semester).

Orders are issued accordingly. The Syllabus is uploaded in the University website.

ToThe Principals of all affiliated CollegesCopy to:CE/ Ex Section/ EG Section/ DR and AR BA Branch/ EX IV/Director, SDE/SDEExam Wing/ Tabulation Section / System Administrator with a request to upload theSyllabus in the University website/ GA I F Section/ Library/ SF/ FC/DF

U.O.No. 7454/2014/Admn Dated, Calicut University.P.O, 01.08.2014

File Ref.No.10106/GA - IV - B1/2014/CU


Abstract

BA Programme in Islamic Finance with Computer Application - CUCBCSS UG 2014 - Scheme and

Syllabus - Approved - Implemented with effect from 2014 Admissions-Orders issued.

G & A - IV - B

Read:-1. U.O. No. 3797/2013/CU, dated 07.09.2013 (CBCSS UG Modified Regulations

(File.ref.no. 13752/GA IV J SO/2013/CU).

2. U.O. No. 5180/2014/Admn, dated 29.05.2014 (CBCSS UG Revised Regulations)

(File.ref.no. 13752/GA IV J SO/2013/CU).

3. Minutes of the meeting of the Board of Studies in Islamic Finance held on 04-07-

2014(item No. 1)

4. Letter dated 22-07-2014 from the Dean, Faculty of Humanities.

5. Orders of Vice Chancellor in the file of even No. dated 29-07-2014

ORDER

Vide paper read as first above, the Modified Regulations of Choice Based Credit

Semester System for UG Curriculum with effect from 2014 was implemented under the University of

Calicut.

Vide paper read as second above, the Revised CUCBCSS UG Regulations has

been implemented with effect from 2014 admission, for all UG programmes under CUCBCSS in

the University.

Vide paper read third above, the meeting of the Board of Studies in Islamic Finance held on 04-

07-2014 vide item No. 1 resolved to approve the Scheme and Syllabus of BA Islamic Finance

with Computer Application prepared as per CUCBCSS regulations.

Vide paper read fourth above, the Dean, Faculty of Humanities has remarked that item No. 1 of

the minutes of the meeting of the Board of Studies in Islamic Finance held on 04-07-2014 may be

approved, since the items in the minutes are urgent and to be implemented in the 2014-2015

academic year.

Vide paper read fifth above, the Vice Chancellor, considering the exigency, and exercising the

powers of the Academic Council, has approved the item No. 1 of the Minutes of the meeting of

the Board of Studies in Islamic Finance held on 04-07-2014 , subject to ratification by the

Academic Council.

Sanction has, therefore, been accorded to implement the Scheme and Syllabus of BA

Muhammed S

Deputy Registrar

Forwarded / By Order

Section Officer

Programme in Islamic Finance with Computer Application under CUCBCSS Regulations with effect

from 2014 Admission onwards.

Orders are issued accordingly.

The Syllabus is uploaded in the University website

To

The Principals of all affiliated Colleges

Copy to:CE/ Ex Section/ EG Section/ DR and AR BA Branch/ EX IV/Director, SDE/SDE

Exam Wing/ Tabulation Section / System Administrator with a request to upload the

Syllabus in the University website/ GA I F Section/ Library/ SF/ FC/DF

SYLLABUS

FOR

BA ISLAMIC FINANCE

With

Computer Application

Complementary Paper

Economics &Commerce

Prepared by

BOARD OF STUDIES FOR ISLAMIC FINANCE


BA ISLAMIC FINANCE with

Computer Application

SCHEME AND SYLLABUS

Objectives:

Main objective of the programme is to introduce the emerging area of Islamic Finance.

To produce skillful hands to meet the requirements of the new generation banks, insurance companies and security markets.

Understand the fundamental concepts of Islamic economics.

Know the importance of the development of an interest-free economy to promote socio-economic justice in society.

Describe the underlying principles of Islamic commercial contracts.

Know their applications as investment modes (Musharakah, Mudarabah).

Know their applications as financing modes (Ijarah, Murabaha, Salam, Istisna'a) and as assessor modes (Wakalah, Kafalah, Hawalah, Jua'lah, Tawarruq and others).

Explain the key operations of Islamic banks and the scope for co-operation between conventional and Islamic financial institutions.

Examine the Islamic financial markets, scope and instruments including the operations of venture capital, investment funds, units trusts and sukuk in accordance with Islamic principles.

Discuss the governance and transparency issues in Islamic financial institutions.

Understand the role of supervision and regulation with particular emphasis on the role of the Religious Supervisory Board, Shari'ah compliant audit, accounting and taxation issues.

Describe the procedures to convert interest-based banking institutions to interest-free Islamic banking and the practical steps required for establishing an Islamic bank.

Explain Takaful and its rationale as an alternative to conventional insurance and describe basic elements and operating models for undertaking takaful business and Re-takaful (Reinsurance).

ELIGIBILITY CRITERIA

A pass (eligible for higher studies) in the Higher Secondary Examination or its equivalent with at least one commerce/Economics subject, is the eligibility for admission to the BA Islamic finance degree course. Candidates who have not taken at least one commerce subject for higher secondary or an equivalent examination should get at least 18 GPV (in 6 subjects) in that examination to become eligible to seek admission to BA Islamic finance course. A concession of 3 GPV will be given to OBC/OEC candidates. The SC/ST candidates need get only a pass.

BONUS/WEIGHTAGE POINTS

Just like any other degree programmes

INDEXING FOR RANKING

A Weightage of 2.5 points for each commerce subject studied under plus two level, CBSE, or VHSE under commerce stream, subject to a maximum of 5 points shall be added to the total GPV. The management paper of Plus Two, CBSE, VHSE or an equivalent examination can be considered as commerce subject for indexing points for admission to BA Islamic Finance course

If there is a tie in the index points, those who studied commerce in the Plus Two course should get preference. If there is again a tie, the GPV in the commerce subjects will be considered first, then the GPV of Economics and then the GPV of English then the GPV of second language will be considered. Finally the general conditions are applicable.

GENERAL CONDITIONS

Same as other degree courses

BA Islamic Finance With Computer Application

Scheme

Programme at : Undergraduate Level

Duration of the Course : 3 years

System to be followed : Semester System

No. of Semesters : Six Semesters

Mode of Evaluation : Continuous Evaluation (Assignments, Seminars, Projects, Internal Examinations & End Semester Examinations. System of Evaluation : Grading System

Medium of Instruction : English

Details of Common, Core and Complementary Papers in each semester:

Semester No. of Papers

Common Core Complementary Project Open Elective Total

I 3 1 2 - - 6

II 3 1 2 - - 6

III 2 2 2 - - 6

IV 2 2 2 - - 6

V - 4 - 1 4

VI - 4 - 1 1 4

Total 10 14 8 1 1 1 32

BA ISLAMIC FINANCE with COMPUTER APPLICATION

DETAILS OF PAPERWISE CREDITS AND HOURS

FIRST SEMESTER

Paper

Code

Paper Title No. of

Credits

Theory

(Hours per

Week)

Max:Marks

Common Papers

ENG1

A01 3 4

80(external)+

20(internal)=

100

ENG1

A02 3 5 100

ARB 1

A 07 Communicative Skills in Arabic 4 4 100

CORE PAPERS

IFC IB

01

Management Concepts and

Business Ethics 5 6 100

Complementary Paper (Taken from other disciplines)

EC1

CO1

Essentials of Economics-Micro

2 3 100

BCI

C01

Managerial Economics

2 3 100

SECONDSEMESTER

Common Papers

ENG2

A03

4 5 100

ENG2

A04

4 4 100

ARB 2

A 08 Translation and Communication 4 4 100

CORE PAPERS

IFC 2B

02

Basics of Islamic Finance 5 6 100

Complementary Paper(Taken from other disciplines)

EC2

CO1

Essentials of Economics -Macro

2 3 100

BC2

C02

Marketing Management 2 3 100

THIRD SEMESTER

Common Papers

ENG3

A05

4 5 100

ARB 3 A 09

Literature in Arabic (III semester)

4 5 100

Core Papers

IFC 3B 03

Financial And Corporate Accounting

4 5 100

IFC 3B

04

Indian Financial System 4 4 100


EC3CO1 Essentials of Economics-

Money, Banking, Finance and Trade 2 3 100

BC3C03

E- Commerce Management 2 3 100

FOURTH SEMESTER

Common Papers

ENG4

A06

Reading Fiction and Nin Fiction –

4 5 100

ARB 4 A 10

Culture and Civilization 4 5 100

Core Papers

IFC 4B

05

Business Law &Law Of Islamic Shariah 4 5 100

IFC 4B

06

Cost & Management Accounting 4 4 100


EC4

CO1

Essentials of Economics-Indian Economy

2 3 100

BC4

C04

Quantitative Techniques for Business 2 3 100

FIFTH SEMESTER

Core Papers

IFC 5B

07 Business Mathematics& Statistics 4 4 100

IFC 5B

08 Corporate Governance in Islamic Finance 4 4 100

IFC 5B

09 Islamic Micro Finance 4 4 100

IFC 5B

10 Risk Management In Islamic Finance 4 4 100

OPEN PAPER ( TO CHOOSE 1 OUT OF 3)

IFC5

DO1

Study on Fundamentals of Islamic

finance

2

2 100

IFC5

DO2 Islamic commercial law 100

IFC5

DO3 Islamic Insurance 100

PROJECT

WORK

Project Work: Designing an Islamic

Finance Product (To be continued in VIth Sem)

--- 1 100

SIXTH SEMESTER

Core Papers

IFC 6B

11 Computerized Accounting with Tally 4 5 100

IFC 6B

12

Islamic Fund Management and Security

Marketing 4 5 100

IFC 6B

13 Corporate Governance in Islamic Finance 4 5 100

IFC 6B

14

Security Analysis & Portfolio

Management (Investment Management) 4 5 100

ELECTIVE PAPERS

( TO CHOOSE 1 OUT OF 3)

IFC 6 E

01 Islamic Financial Institutions

4 4

100

IFC 6

E02 Study On Islamic Banking System 100

IFC 6 E

03 Marketing of Islamic banking Products 100

IFC 6B

16

Project Work: Designing an Islamic

Finance Product 2 1 100

Total 120 3500

Complementary Courses for other Programmes

Complimentary Courses prescribed for any BA Programme approved by

the Board of Studies in Islamic Finance

Islamic Commercial Law and Contract

Semester Course Code Course Title

Semester I IFC1 C05 Islamic commercial Law and Contract – I Semester II IFC2 C05 Islamic commercial Law and Contract – II

Semester III IFC3 C05 Islamic commercial Law and Contract – III

Semester IV IFC4 C05 Islamic commercial Law and Contract – IV

Fundamentals of Islamic Economics


Semester I IFC1 C06 Fundamentals of Islamic Economics – I Semester II IFC2 C06 Fundamentals of Islamic Economics – II

Semester III IFC3 C06 Fundamentals of Islamic Economics – III Semester IV IFC4 C06 Fundamentals of Islamic Economics – IV

TITLE OF THE COURSE

CORE 01 MANAGEMENT CONCEPTS AND BUSINESS ETHICS SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 1

NO. OF CREDITS - 5

NO. OF CONTACT HOURS - 6 hrs/wk

Objectives:

To understand the process of business management and its functions, and

To familiarize the students with current management practices.

To understand the importance of ethics in business, and

To acquire knowledge and capability to develop ethical practices for effective management

COURSE OUTLINE

Module I 15 hours

Nature and scope of Management; evolution of management- Schools of management

thought;.W.Taylor and Henry Fayol; principles of management; management as a science and an

art; management process.

Module II 15 Hours

Functions of management- planning: types of plan; planning process; organizing: span of control ,

line and staff functions ; centralization and decentralization; delegation; staffing: manpower

planning, recruitment, selection and placemen;; directing: principles of direction; coordinating,

and controlling.

Module III 30 Hours

Manager Vs leader; leadership and motivation; leadership styles; theories of Motivation.

MBO;Management of performance; Understanding and managing group processes;

characteristics of workgroup, work group behavior and productivity; team creation and

management.

Module 1V 15 Hours

Ethics, culture and values: Importance of culture in organisations; Indian ethos and value systems;

Model of management in the Indian socio political environment; Work ethos; Indian heritage in

production and consumption.

Module V 15 Hours

Business ethics: Relevance of values in Management; Holistic approach for managers in decision-

making; Ethical Management: Role of organisational culture in ethics; structure of ethics

management; Ethics Committee.

Reference Books:

1. Boatwright, John R: Ethics and the Conduct of Business, Pearson Education, New Delhi.

2. Sathish Modh: Ethical Management: Macmillan.

3 Koontz, H and Wechrick, H: Management, McGraw Hill Inc, New York.

4 Drucker, Peter, F: Management: Tasks, Responsibilities and Practices, Allied Publishers, New

Delhi.

5. L.N Prasad : Principles of management.

6. R.S Davar ; Management Process

7. Rustum & Davan, Principles and practice of Management.

8. Srinivasan & Chunawalla, Management Principles and Practice.

CORE 02 BASICS OF ISLAMIC FINANCE SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 2

NO. OF CREDITS - 5

NO. OF CONTACT HOURS - (6hrs/week)

Objective

To understand basic fundamentals of Islamic finance

For knowing the comparative review of conventional finance and Islamic finance

COURSE OUTLINE

Module – 1 (15 Hours)

Economic Doctrine of Islam - Introduction and Philosophy - Assumptions of fundamental

principles and their implication - Man and divine guidance: the role of Quran and Sunnah - Islamic

Social Order: Values and ethnics-The political context of Islamic economics - Capitalism,

Communism/Socialism and Islamic Economic Systems


Islamic Banking - Concept and Evolution of Conventional Banking - Evolution and Development of

Islamic Banking - Differences and Similarities between Islamic and Conventional Banking - Primary

Characteristics of Islamic Banks - Prohibition of Interest - Low Consumer Lending - Profit and Loss

Sharing - High Real Sector Investing - Dealing in Halal - The value of money Islamically interpreted

- Prohibition of speculation - Sanctity of contracts - Sharia approved activities - Easy collateral -

The Islamilisation of commercial banking - Islamic banks in western world - Criticism of Islamic

banking


Principles and Techniques of Islamic Finance - The concept of interest (Riba) - Prohibition of Riba

(in Islam and Christianity) - Real and notional interest - Fixed and viable interest - Interest Vs.

Profit - Interest as return - Riba al-Nasial and al-Fadi - Consumption and production loan.

Financing Techniques – Mudaraba – Musharakah – Murabaha - Ijara and

IjarahMuntahiaBittamleek - Salam and Parallel Salam - Istisna’a.

Module -4 (15 Hours)

Islamic Financial Institutions - Study of Zakah - Gahr and Khraj - Takaful

IDB: its role, objectives and performance

Islamic Financial Service Board

The international Association of Islamic Banks

Islamic Research and Training Institute

International Centre for Research in Islamic Economics

Referances

Islamic Finance: Law, Economics, and Practice By Mahmoud A. El-Gamal Cambridge University Press

Understanding Islamic Finance By Muhammad Ayub - WILEY Publishers

------------------------------------------------------------------------------------------------------------

CORE 03 FINANCIAL AND CORPORATE ACCOUNTING SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 3

NO. OF CREDITS - 4

NO. OF CONTACT HOURS -(5 hrs/wk)

Objectives :

Ø To enable the students to acquire knowledge of the financial accounting principles and

practices

Ø To equip the students with skills for recording various kinds of business transactions

Ø To familiarize the students with the techniques of preparing financial statements

Ø To help the students acquire conceptual knowledge of the fundamentals of the corporate

accounting and the techniques of preparing the financial statements.

COURSE OUTLINE

Module I 20Hours

Introduction - Nature of financial Accounting - scope – objects –limitations –Accounting

concepts and conventions- Financial accounting standards –Object of accounting standards –

Accounting Standard Board of India and Indian Accounting Standards - Accounting process from

recording of business transactions to preparation of Trial balance (an overview only).

Module II 15 Hours

Conceptual Frame work for preparation and presentation of financial statements - Capital,

Revenue and deferred revenue expenditure – Capital and revenue receipts – Final accounts of

Sole Proprietor , Final account of companies and not –for- profit organizations (simple problems

only).

Module III 20 Hours

Accounting for share capital – Issue, forfeiture and Reissue of forfeited shares - Redemption of

preference shares including buy-back of equity shares - Issue and Redemption of Debentures.

Module – IV 15 Hours

Bank accounts- General information relating to bookkeeping, ledger section, register section, slip

system of ledger posting, legal requirements affecting final accounts, specimen form of

accounting policies, preparation of profit and loss accounts, Asset classification, preparation of

Balance sheet.

Module- V 20 Hours

Insurance Companies- Commercial and legal back ground of insurance business, contract of

insurance, Book maintained by insurance companies, Explanation of special terms peculiar to

insurance business, Accounts for life insurance business, types of policies, Annuity business,

surrender value, paid up policy, life insurance fund valuation balance sheet, preparation of final

accounts, Revenue accounts, accounts for general insurance business (as per the provisions of

IRDA Act)

(Theory and problems may be in the ratio of 30% and 70%respectively)

Reference Books:

1. M.C., Shukla, T.S. Grewal and S.C. Gupta: Corporate Accounting, S. Chand and Co., New Delhi.

2. R.L Gupta, and M Radhaswamy: Corporate Accounting, Sultan Chand and Sons, New Delhi.

3. Ashok Sehgal and Deepak Sehgal: Advanced Accounting, Volume II, Taxmann, New Delhi.

4. S.P.Jain and K.L.Narang: Financial Accounting, Kalyani Publilshers, New Delhi.

5. S.N. Maheshwari, and S.K. Maheshwari: Corporate Accounting, Vikas Publication, New Delhi.

6. S.N. Maheswari: Financial Accounting

7 Shukla, M.C., T.S. Grewal and S.C.Gupta: Advanced Accounts S.Chand&Co., New Delhi.

8. Naseem Ahmed, Nawab Ali Khan and M.L.Gupta: Fundamentals of Financial Accounting, Ane

Books Pvt. Ltd., New Delhi.

9. Grewal and Gupta: Advanced Accounting

5. Dr. Goyal V.K.., Financial Accounting, Excel Books, New Delhi.

10. Radhaswamy and R.L. Gupta: Advanced Accounting, Sultan Chand & Sons, New DelhI

---------------------------------------------------

CORE 04 INDIAN FINANCIAL SYSTEM SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 3

NO. OF CREDITS - 4

NO. OF CONTACT HOURS -(4 hrs/wk)

Objectives: To provide basic knowledge about the structure, organization and working of financial

system in India

COURSE OUTLINE

Module I 10Hours

Financial System: Meaning and Significance-Functions of the financial system- Financial concepts-

Financial Assets- Financial markets- Classification-Financial instruments-weakness of Indian

Financial System.

Module II 10Hours

Money market: Definition-Features-Objectives-Features of a developed money market-

Importance of Money market-Composition of Money market- Money market Instruments-

features of Indian money market-Recent developments.

Module III 10 Hours

Primary, Secondary and Capital Markets: New issue market-meaning-functions-methods floating

new issue- intermediaries in the new issue market-merchants bankers and their functions- Recent

trends in new issue market - Stock Exchanges-Functions.

Module IV 10 Hours

Financial Institutions: commercial banks- development financial institutions- Nonbanking financial

corporation -Mutual Funds, insurance companies – Objectives and Functions (only a brief

outline).

Module –V 05 Hours

Regulatory Institutions – RBI – Role and Functions. The Securities and Exchange Board of India-

objectives-function-powers- SEBI guidelines for primary and secondary market.

Reference Books:

1. Kohn, Meir: Financial Institutions and Markets, Tata McGraw Hill.

2. Bhole L.M: Financial Institutions and Markets, Tata McGraw Hill.

3. Desai, Vasantha: The Indian Financial System, Himalaya Publishing House.

4. Machiraju.R.H: Indian Financial System, Vikas Publishing House.

5. Khan M.Y: Indian Financial System, Tata McGraw Hill.

6. Varshney, P.N., & D K Mittal, D.K.: Indian Financial System, Sulthan Chand & Sons

7. Gordon E. & Natarajan K.: Financial Markets & Services, Himalaya Publishing House.

8. Pathak, V. Bharati: Indian Financial System, Pearso

---------------------------------------------------------------------------------------------------------------------

CORE 05 BUSINESS LAW& LAW OF ISLAMIC SHARIAH

SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 4

NO. OF CREDITS - 4

NO. OF CONTACT HOURS - (5 hrs/wk)

Objectives

To understand the basics of conventional Business Law

To study the fundamentals of Islamic Commercial Law and to make a comparative study about

two concepts.

COURSE OUTLINE

PART – A

BUSINESS LAW

MODULE – 1 (25 hours)

Commercial Contract- Nature and classification of contracts-offer and acceptance-consideration-

capacity of parties-free consent- coercion- undue influence – misrepresentation- fraud- mistake-

void agreements- discharge of contract- breach of contract and remedies-contingent contracts-

quasi-contracts – contract of Guarantee – Agency – Mortgage.


Sale of Goods Act, 1930-Contract for sale of goods-Meaning – essentials of a contract of sale –

Conditions and Warranties- caveat emptor-sale by non owners- rules as to delivery of goods-

auction sale -rights of unpaid seller.

PART - B

LAW OF ISLAMIC SHARIAH

MODULE -3 (15 hours)

Fundamentals of Shariah for Islamic Finance Practitioners: Sources of Shariah - Objectives of

Shariah - Operatives legal maxims Definitions of assets in Shariah - Rules of ownership in Shariah

- Essentials of Shariah compliant contracts - Prohibited elements in Shariah: Riba, Gharar, Haram

products and activities.


Nature of Islamic Business/Financial Contracts: Intermediation contract – Mudaraba - Kitala

(Guarantee) – Takaful - Wakala (Agency contract) - Juala - Hawala (Transfer) - Rahn (Mortgage) -

Transaction Contract– Mudaraha - Bay Salam - Bay Mua’ajal – Ijara – Istisna – Musharaka - Wa’d

(Promise) - Muwada or Mua’hida (Agreement)


Legal Practices in the Islamic Financial Industry - Shariah principles influencing regulatory

framework for Islamic finance - Foundations of adequate and efficient Islamic finance

environment .

Focused Shariah Council (FSC) - Strong and harmonized legislation - Legal issues to consider in

structuring Shariah compliant products.

References

Elements of Mercantile Law – N D Kapoor

Mercantile Law – M C Shukla

Islamic Commercial Law By Muhammad Yusuf Saleem – WILEY Publishers

--------------------------------------------------------------------------------------------------------------------

CORE 06 COST AND MANAGEMENT ACCOUNTING SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 4

NO. OF CREDITS - 4


Objectives:

To familiarise students with the various concepts and element of cost.

To create cost consciousness among the students.

To enable the students to understand the concept and relevance of management Accounting

To provide the students an understanding about the use of accounting and costing data for

planning, control and decision taking.

COURSE OUTLINE

Module I 10 Hours

Introduction :- Definition – Meaning and Scope – Objectives – Functions – Merits and Demerits –

Cost Accounting and Financial Accounting-Cost classification – Elements of cost – cost unitscost

centre – Types , Methods and Techniques of Costing – cost sheet

Module II 20 Hours

Materials :- Importance of Material cost control – Purchase procedure – store control – types of

store – stores records – perpetual inventory – ABC analysis – VED analysis – JIT inventory – stock

levels - EOQ issue of materials – FIFO, LIFO, simple and weighed average methods. Labour :-

Importance of Labour Cost Control – Time keeping and Time Booking – Idle Time – Over Time –

Computation of Labour Cost – renumeration systems and incentive schemes Overheads :-

Definition – Overhead allocation – Apportionment - Re apportionment – Direct distribution – Step

Ladder – Reciprocal service methods – repeated distribution and simultaneous equation methods

Absorption of overheads – methods of absorption – Labour Hour Rate and Machine Hour Rate

Module III 10Hours

Budgetary Control: Budget and Budgetary Control –Need and Importance – Types of Budgets –

Preparation of Financial Budget- Flexible Budget and Fixed Budget –ZBB – Programme and

Performance Budgets.

Module IV 05 Hours

Management Accounting –Nature and Scope – Difference between Cost Accounting, Financial

Accounting and Management accounting – Recent Trends in Management Reporting.

Module V 20 Hours

Analysis and Interpretation of financial Statement: - Meaning- Types and Methods of Financial

Analysis – Comparative statements – Trend Analysis – Common size statements (a general

discussion only). Ratio Analysis: - Meaning –Nature – uses and limitations of Ratios –liquidity,

profitability, Turnover ,Solvency, Leverage, Market test ratios – Constructions of Financial

Statements from ratios –Judgment of financial stability through ratios –(Stress to be given to

problem solving and interpretation skills )

Module VI 15 Hours

Funds Flow and Cash Flow Analysis:

a. Funds Flow Statements : Meaning and concept of fund – Current and Non- Current Accounts

– Flow of Fund –Preparation of Funds flow statements – uses and significance

b. Cash Flow Statement : Difference between fund flows statement and cash flow statements –

Preparation of cash flow statements as per AS3 Norms – Direct and Indirect methods.(Stress to

be given to problems)

Module VII 10Hours

Managerial decision making with the help of C.V.P. Analysis : Marginal Costing- Fixed Cost,

Variable Cost, Contribution, P/V ratio, Break Even Analysis – Algebraic and Graphic presentation –

Decision making: Fixation of Selling Price – Exploring new markets – make or buy-key factor –

Product Mix – Operate or Shutdown (Theory and problems may be in the ratio of 40% and

60%respectively)

Reference Books:

1. N.K. Prasad: Cost Accounting 2. Nigam & Sharma: Cost Accounting 3. Khanna Pandey & Ahuja: Practical Costing 4. M.L. Agarwal: Cost & Managemt Accounting 5. Jain & Narang: Cost Accounting 6. S.P. Iyengar: Cost Accounting 7. S.N. Maheshwari: Cost & Management Accounting 8. Horngren: Cost Accounting: A Managerial Emphasis 9. M. N. Arora: Cost Accounting 10. Dutta: Cost Accounting 11. Sexana: Management Accounting 12. Made Gowda: Management Accounting 13. Dr. S.N. Goyal and Manmohan: Management Accounting 14. B.S. Raman: Management Accounting

---------------------------------------------------------------------------------------------------

CORE 07 - BUSINESS MATHEMATICS AND STATISTICS SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 4

NO. OF CREDITS - 4


Objective:

1-The objective of this course is to familiarize students with the applications of

2-mathematics and statistical techniques in business decisions process.

COURSE OUTLINE

PART – A: Business Mathematics

Module – 1 Matrices and Determinants - Definition of a matrix - Types of matrices – Algebra of

matrices - Calculation of values of determinants up to third order - Adjoint of a matrix -

Elementary row operations - Finding inverse of a matrix through adjoint and elementary row

operations - Applications of matrices for solution to simple business and economic problems.

Module – 2 Calculus - Mathematical functions and their types – linear, quadratic, polynomial,

exponential and logarithmic - Concepts of limit, and continuity of a function - Concept of

differentiation - Rules of differentiation – simple standard forms

(involving one variable) - Applications of differentiation – elasticities of demand and supply -

Maxima and minima of functions (involving second or third order derivatives) relating to cost and

revenue - Integration and its applications to business and economic situations.

Module -3- Basic Mathematics of Finance: Simple and compound interest - Rates of interest –

nominal, effective and continuous – and their inter-relationships - Compounding and discounting

of a sum using different types of rates.

PART – B : Business Statistics

Module – 4 -Introduction to statistics - Descriptive Statistics for univariate data - Preparation of

frequency distributions including graphic presentations

Measures of Central Tendency Arithmetic mean, Geometric mean and Harmonic mean

:Properties and applications - Positional Averages :

Mode and median and other partition values - quartiles, deciles, and percentiles (including

graphic determination) - Measures of Variation: absolute and relative.

Range, quartile deviation, mean deviation, standard deviation, and variance

Module – 6 -Correlation and Regression Analysis Correlation : Meaning, Correlation using scatter

diagram - Karl Pearson's co-efficient of correlation: calculation and properties. Regression

Analysis : Linear regression defined - Regression equations and estimation.

Module – 7Index Numbers - Meaning and uses of index numbers. Construction of index numbers:

fixed and chain base; univariate and composite. Aggregative and average of relatives – simple and

weighted. Tests of adequacy of index numbers. Construction of consumer price indices.

Referances

1. E.T. Dowling, Mathematics for Economics, Schaum’s Outlines Series, McGraw Hill Publishing Co.

2. Mizrahi and Sullivan, Mathematics for Business and Social Sciences, John Wiley and Sons

3. V.K. Kapoor, Essentials of Mathematics for Business and Economics, Sultan Chand

---------------------------------------------------------------------------------------------------------------------

CORE 8 - CORPORATE GOVERNANCE IN ISLAMIC FINANCE


NO. OF CREDITS - 4


Objective

To understand the importance of corporate governance in different kinds of business

organization.

To describe the ethical elements of Islamic Finance

COURSE OUTLINE

Module – 1 (15 hours) -Corporate Governance– concepts – scope – the significances of

constitutions for corporate entities - difference between governance and management –

corporate governance in sole trading concern, partnership and companies.

Module – 2 (20 hours) -International Corporate Governance Guidelines [including SEC

guidelines] and their applicability to Islamic Banks - Corporate Governance at IFIs - Corporate

Governance In Islam - Corporate Governance processes and policies in Islamic Banks - Guiding

principles for Corporate Governance at Islamic Banks.

Module – 3 (20 hours) -The Shariah Supervisory Board - Fit and proper requirements and the

selection process - Internal Shariah Advisor/Officer - Roles and Responsibilities - Monitoring,

reporting and Audit structures Assessment of effectiveness - Separation of parties (Shareholders

Vs. Management)

Module – 4 (20 hours) -Conventional Banking Regulation and Supervision requirement [ BASEL,

BOFIA,etc Principles and Guidelines] - Microfinance Legal Frameworks, Regulations and Policy -

How the overall regulatory framework affects the integrations of microfinance institutions into

the financial system - Banking regulation and supervisions in an Islamic framework - Information

disclosure

The Role, Functions and Challenges Of Central Banks In Regulation And Supervision Of Islamic

Banks.Comparative Study of Islamic Banking And Islamic Banking Regulations And Supervisions in

U.K ,Malaysia - Shariah Advisory Board quality of Islamic Banking Supervision and Regulation.

Reference

Corporate Governance: Principles, Policies and PracticesBy Bob Tricker – Oxford Publications

An Islamic Perspective on GovernanceByZafarIqbal, ZafarIqbal, Mervyn Lew

----------------------------------------------------------------------------------------------------

CORE 09- ISLAMIC MICRO FINANCE SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 5

NO. OF CREDITS - 4


Objective

To know the role of micro finance in the financial sector.

To understand the micro finance aspects of Islamic banking.

COURSE OUTLINE

Module – 1 (20 hours)-Introduction to Microfinance - Definitions vis-à-vis microfinance and

microcredit - From moneylenders to Microfinance: History, and recent development.

The Demand for Microfinance Services - Credit: Consumption and Productive – Savings -

Insurance Remittances - Housing Finance - Microleasing, etc. The Supply of Microfinance Services

- Microfinance Institution - NGOs - Bank Linkages -Microfinance Delivery Models [GREMEEN,

ASA, BRAC].

Islamic aspects of micro finance

Module – 2 (20 hours)

Concept of Marketing in Microfinance - Application of 5Ps of marketing - Marketing Ethics in

Islamic Banking - Qualities and criteria of IB marketing personnel - Packaging Islamic Microfinance

Products - Success factors in marketing Islamic Microfinance Products - Uniqueness of Islamic

Microfinance Products - Effective ways in marketing of Islamic Microfinance Products - Building

Customer Relations and Care - Effective communication with Customers - Managing difficult

customers


Risk Management in Microfinance - Types of risks faced by MFI - Measuring the different risk

exposures MFI - Developing and implementing strategies for risk management for MFIs


Transformation of Microfinance from Conventional to Islamic Operations - Defining

transformation and its imperative for MFI - Factors leading to the need for MFIs to transform -

Legal alternatives for transformation - Institutional changes necessitated by transformation -

Changes faced by transforming MFIs

Reference

An Islamic Microfinance Enterprise: The Financial Vehicle That Will Change the Face of the Islamic

World, The Power of Salam Financing by BySaad Al-harran, Dr., Alfred Yong FohSen, Sri Anne Haji

Masri.

An Introduction to Islamic Microfinance" - Dr. M. Obaidullah

---------------------------------------------------------------------------------------------------------------------

CORE 10-RISK MANAGEMENT IN ISLAMIC FINANCE


NO. OF CREDITS - 4


Objective

To understand various types of risks in Islamic finance

To study the techniques of risk management in the Islamic finance institutions.

COURSE OUTLINE

Module – 1

Control and Risk Assessment in Islamic Financial Institutions

Basic principles of risk management - The concept of risk in Islam - Types of risks - Business risks –

displaced commercial risk, withdrawal risk, solvency risk - Governance risk-fiduciary risk,

operational risk, transparency risk - Transaction risk – credit risk, market risk, mark-up risk, PLS

risk - Treasury risks-assets and liability management, liquidity risk, hedging risk - Systemic risks-

regulatory risk, business environment risk, institutional risk, reputational risk.

Module – 2

Mitigating risk through third party guarantees - The Methodology of analyzing risk in IFI

transactions - Risk Management in Microfinance - Types of risks faced by MFIs - Measuring the

different risk exposures MFIs - Developing and implementing strategies for risk management for

MFIs

Module – 3 -Risk Profile: Analysis

Analyzing Risk Profiles in Equity-based instruments - Detecting risk in Mudaraba, Wadia and

Amana products - Comparing Mudaraba-based products with conventional products - Identifying

the risks in Mudaraba structuring - Risk weighing for Mudaraba structures - Identifying key

methods of risk management for Mudaraba - Analyzing Risk Profiles of Musharaka and

Diminishing Musharaka - Detecting risk in Musharaka and Musharaka Diminishing - Reviewing the

structures of Musharaka and Diminishing Musharaka - Managing the risk in Musharaka and

Diminishing - Risk profile of Musharaka and Diminishing - Analyzing Risk Profiles in Sale-based

Instruments

Detecting risk in Murabaha

Module – 4

Identifying the risks - Managing the risks - Analyzing Risk Profiles in Lease-based Instruments

Detecting risk in Ijara - Reviewing alternative Ijara structures - Risk Profiling of Ijara structure

Disclosure and management of Ijara - Analyzing Risk Profiles in Forward Sale Instruments -

Reviewing alternative Salam and Istisna structures - Risk profiling of Salam structures - Risk

profiling of Istisna structures - Disclosure and management

Reference

Economic enterprises in Islam – Najathulla Siddiqui.

--------------------------------------------------------------------------------------------------------------------

PROJECT WORK : DESIGNING AN ISLAMIC FINANCE PRODUCT

(To be continued in VI th semester) SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 5

NO. OF CREDITS - -----

------------------------------------------------------------------------------------------------------------------

CORE 11-COMPUTERISED ACCOUNTING WITH TALLY SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 6

NO. OF CREDITS - 4


Objective:

To enable the students to acquire basic knowledge in the computerised accounting systems and

its applications in the area of business.

COURSE OUTLINE

Module I 10hours)

Introduction to accounting - accounting basis and terms - branches of accounting - mode of

accounting - manual accounting - computerized accounting fundamentals.

Module II (10 Theory hours and 10 practical hours)

Accounting with Tally - Introduction to Tally - tally interface - f11 features-f12 configuration -

company creation - accounting groups - accounting ledgers - accounting vouchers – vouchers

entry.

Module III (10 Theory hours and 10 practical hours )

Inventory management with tally - stock groups - stock items - stock category - unit of measures–

godown inventory vouchers (Pure inventory and inventory vouchers)

Module IV (15 theory hours and 5 practical hours )

Accounting and inventory reports - Trading, Profit and loss A/c - balance sheet - ledgers cost

centre and budget reports - cash book and bank book - inventory reports - Decision supporting

tools - Ratio analysis - cash flows - fund flow-budgeting system - printing of reports – voucher and

bill printing etc.

Module V (15 theory hours and 5 practical hours)

Technology advantage of Tally - Tally audit - Tally vault-back up, restore, merge and split o

fdatabase - ODBC interface - export and import of data - web enabled reporting - online support

of software.

Reference Books

1.A.K. Nadhani and K.K. Nadhani – Implementing Tally 6.3, I/e BPB Publications; New Delhi

2. Namrata Agarwal – Tally 6.3; 2004 edition; Dream Tech; New Delhi

3. Tally, Sridharan, Narmadha publications, May 2

---------------------------------------------------------------------------------------

CORE 12- ISLAMIC FUND MANAGEMENT AND SECURITRY MARKETING


NO. OF CREDITS - 4


Objective

To overview the concepts of fund management in Islamic Finance.

To study the different kinds of securities in the Islamic finance.

COURSE OUTLINE

Module – I

Introduction: Nature, scope and objectives of financial management - Time value of money and

mathematics of Finance - Concept of risk and return.

Working Capital Management: Meaning and nature of working capital - Determination of

working capital requirement - A brief overview of Cash management, Inventory management and

Receivables management.


Module – 2 -Islamic Asset and Fund Management - Islamic Perspective of Wealth - Purpose of

Investment in Islam - Prohibited Industries and their Problems - The Islamic Stock selection

process and the role of the Shariah Supervision Board - The Crisis in Global Wealth Management,

US and Asia experience

Module – 3-Islamic Capital Market Instruments - The hierarchy of capital markets: where do

Islamic products - Islamic position in conventional stock market - Islamic investment purification

principles.

Commodity Murabaha - Islamic leasing - Islamic Equity Market Funds - Real Estate Investment

Trusts - Islamic Hedge Funds - Islamic Rating Systems - Islamic Market Indices - Dow Jones Islamic

Market index (DJIM) - FTSE Global Islamic Index Series - Factors affecting innovation in Islamic

Banking and Capital Market

Module – 4 -Islamic Securitization - Securitization for conventional banking products -

Securitization for Islamic Banking Products - The driving forces behind securitization - What are

the Shariah requirements for securitization?

Module – 5 -Islamic Bonds (Sukuk) - Sukuk basis - How have Sukuk evolved - How do Sukuk differ

from conventional bonds - AAOIFI Sukuk standards - Alternative Sukuk structure - Sukuk and the

private sector - Rating Sukuk - Risks associated with Sukuk

Reference

1.Horne, J.C. Van: “Financial management and policy”,Prentice Hall of India New Delhi.

2.Khan and Jain:“Financial Management text and problems”,Tata McGrawHill New Delhi

3. Pandey, I.M: “Financial Management”, Vikas Publications.

4. Bhalla, V.K.: “Financial Management & Policy,” Anmol Publications, Delhi

5. Chandra, P: “Financial Management- theory and practice”, Tata Mc Graw Hill.

6 Singh, J.K.: “Financial Management- text and Problems”, Dhanpat Rai and Company,

Delhi.

---------------------------------------------------------------------------------------------------------------------

CORE13- CORPORATE GOVERNANCE IN ISLAMIC FINANCE


NO. OF CREDITS - 4

NO. OF CONTACT HOURS - (5hrs/wk)

Objective

To understand the importance of corporate governance in different kinds of business

organization.

To describe the ethical elements of Islamic Finance

COURSE OUTLINE

Module – 1 (15 hours) -Corporate Governance– concepts – scope – the significances of

constitutions for corporate entities - difference between governance and management –

corporate governance in sole trading concern, partnership and companies.

Module – 2 (20 hours) -International Corporate Governance Guidelines [including SEC

guidelines] and their applicability to Islamic Banks - Corporate Governance at IFIs - Corporate

Governance In Islam - Corporate Governance processes and policies in Islamic Banks - Guiding

principles for Corporate Governance at Islamic Banks.

Module – 3 (20 hours) -The Shariah Supervisory Board - Fit and proper requirements and the

selection process - Internal Shariah Advisor/Officer - Roles and Responsibilities - Monitoring,

reporting and Audit structures Assessment of effectiveness - Separation of parties (Shareholders

Vs. Management)

Module – 4 (20 hours) -Conventional Banking Regulation and Supervision requirement [ BASEL,

BOFIA,etc Principles and Guidelines] - Microfinance Legal Frameworks, Regulations and Policy -

How the overall regulatory framework affects the integrations of microfinance institutions into

the financial system - Banking regulation and supervisions in an Islamic framework - Information

disclosure

The Role, Functions and Challenges Of Central Banks In Regulation And Supervision Of Islamic

Banks.Comparative Study of Islamic Banking And Islamic Banking Regulations And Supervisions in

U.K ,Malaysia - Shariah Advisory Board quality of Islamic Banking Supervision and Regulation.

Reference

Corporate Governance: Principles, Policies and PracticesBy Bob Tricker – Oxford Publications

An Islamic Perspective on GovernanceByZafarIqbal, ZafarIqbal, Mervyn Lew

--------------------------------------------------------------------------------------------------------------------

CORE 14- SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT

(Investment Management)


NO. OF CREDITS - 4


Objectives:

To familiarize the students with the world of investments.

To provide a theoretical framework for the analysis and valuation of investments.

COURSE OUTLINE

Module I 18 Hours

The Investment Environment: The investment decision process - Types of Investments

Commodities, Real Estate and Financial Assets - security market indices Sources of financial

information - Concept of return and risk.

Module II 10 Hours

Fixed Income Securities: Bond features - types of bonds - estimating bond yields - types of bond

risks - default risk and credit rating –Bond valuation

Module III 20 Hours

Approaches to Security Analysis: Fundamental Analysis - Technical Analysis and Efficient Market

Hypothesis - dividend capitalisation models - price earnings multiple approach to equity

valuation.

Module IV 17 Hours

Portfolio Analysis and Financial Derivatives: Portfolio and Diversification -Portfolio Risk and

Return – Introduction to Financial Derivatives - Financial Derivatives Markets in India.

Module V 10 Hours

Investor Protection: SEBI & role of stock exchanges in investor protection -investor grievances

and their redressal system - insider trading - investors’ awareness and activism.


Reference Books:

1. Donald E. Fisher and Ronald J. Jordan: “Securities Analysis and Portfolio

Management”, Prentice Hall, New Delhi.

2. S. Kevin: Security analysis and portfolio Managmennt

3. Sourain, Harry: “Investment Management”, Prentice Hall of India.

4. Francis and Archer: “Portfolio Management”, Prentice Hall of India.

5. Gupta L.C.: Stock Exchange Trading in India; Society for Capital Market Research

and Development, Delhi

CORE 15 PROJECT WORK : DESIGNING AN ISLAMIC FINANCE PRODUCT SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 6

NO. OF CREDITS - 4

Project Work

During the sixth semester every student shall do a project. The student may choose

any topic from the subjects he/she has studied.

The candidate shall prepare and submit a project report to the Department.

The report shall be printed and spiral bound with not less than 50 A4 size pages.

The project report should be submitted to the Head of the Department one month

before the last working day of the sixth semester.

Project work shall have the following stages

o Project proposal presentation

o Field work and data analysis

o Report writing

o Draft project report presentation

o Final project report submission

The project can be done individually.

The candidate shall prepare at least two copies of the report: one copy for

submission to the Department and one copy for the student which he/she has to

bring with him/her at the time of viva voce. More copies may be prepared If the

organization or the guide or both ask for one copy each.

Duration of project work

The duration for project work is 3 weeks.

A certificate showing the duration of the project work shall be obtained from the

supervising teacher or from the organization for which the project work was done

and it shall be included in the project report.

Structure of the report

Title page

Certificate from the organization (for having done the project work)

Certificate from guide

Acknowledgements

Contents

Chapter I: Introduction (Organization profile, Research problem,

Objectives of the study, Research methodology etc.)

Chapter II: Review of literature

Chapters III and IV: Data Analysis (2 or 3 chapters)

Chapter V: Summary, Findings and Recommendations.

Appendix: (Questionnaire, specimen copies of forms, other exhibits etc.)

Bibliography (books, journal articles etc. used for the project work).

Evaluation of project report

The project report shall be subject to internal and external evaluation. The internal

evaluation shall be carried out by the supervising teacher and external evaluation

by the examiners appointed by the University inclusive of Viva-voce examination.

---------------------------------------------------------------------------------------------------

COMPLEMENTARY COURSES The syllabi for complimentary courses of Economics and Commerce departments are prepared by respective boards of studies

Papers codes ------------------------

Complimentary Courses of BA Economics Essentials of Economics

–4 Courses

EC1 CO1, EC2CO1, EC3CO1, EC4CO1

Complimentary Courses of BCom –4 Courses

BC1 CO1, BC2CO2, BC3CO3, BC4CO4

---------------------------------------------------------

SYLLABI FOR COMPLIMENTARY COURSES approved by the Board of Studies in Commerce (UG)

(Ref. U.O.No. 6747/2014/Admn Dated, Calicut University.P.O, 15.07.2014)

BC1C01 MANAGERIAL ECONOMICS Lecture Hours per week : 5 Credits : 4

Internal : 20, External : 80

Objectives:

To enable the students to understand micro and macroeconomic concepts relevant

for business decisions.

To help the students to understand the Application of economic principles in

business management.

Module I Introduction - Definition of Managerial Economics - Objectives - Characteristics - Uses - Decision making and forward planning - Basic economic tools in management economics.

08 Hours Module II

The Concept of Demand and Elasticity of Demand - Demand curve: Individual demand

curve - Market demand curve - Movement along Vs shifts in the Demand curve - Elasticity

of Demand: Price, Income and cross - Demand estimation and demand forecasting -

Concept of Revenue: Average Revenue and Total Revenue - Marginal Revenue and

Incremental Revenue. 12 Hours

Module III Production: Fixed and Variable inputs - Production function - Total, Average and Marginal

Product - Law of variable proportions - Linear homogeneous production function -

Production isoquant - Marginal rate of technical substitution - Optimal combination of

resources - Return to scale - Cost of production - Social and private cost of production -

Difference between economic and accounting cost - Long run and short run cost of

production - Economies and diseconomies of scale. 20 Hours

Module IV Price and Output Decisions Under Different Market Structures: Price and output

decisions under perfect competition, monopoly and monopolistic competition - Pricing

under oligopoly - Kinked demand curve - Price leadership - Pricing under collusion. 10 Hours

Module V A. Pricing Policies and Practices: Factors governing prices - Objectives of pricing policy

Role of cost in pricing - Demand factor in pricing - Consumer psychology and pricing - Pricing methods: Cost-plus or full-cost pricing - Target pricing - Marginal cost

pricing - Going rate pricing - Follow up pricing - Barometric pricing - Customary prices -

Pricing of new products: Penetrating pricing - Price skimming.

B. Macro Economics and Business Decisions: Phases of Business cycle - Evil effects of

cyclical fluctuations on business firms - Minimising effects of Business cycles -

Economic Forecasting for business: Economic and Business forecasting - Uses of

economic forecasts - Methods of economic forecasting - Selecting a forecast -

Evaluating forecasts. 25 Hours

Reference Books:

1. R.L. Varshney and K.L. Maheswari, Managerial Economics 2. D.N. Dwivedi, Managerial Economics 3. Dr. S. Sankaran, Managerial Economics 4. DM Mithani: Business Economics 5. Seth M L Text Book of Economic Theory

6. K K Dewett: Economic Theory 7. Petersen &. "Lewis: Managerial Economics 8. Mote V L peul. S & Gupta G S: Managerial Economics 9. H. Craig Petersen & W. Cris lewis: Managerial Economics 10 Dr. P.N. Reddy and H.R, Appanaiah : Essentials of Business Economics 11 Barry Keating and J. Holton Wilson: Managerial Economics ------------------------------------------------------------------------------------------------------------------------

BC2C02 MARKETING MANAGEMENT

Lecture Hours per week: 5 Credits: 4 Internal : 20, External : 80

Objectives:

To provide basic knowledge about the concepts, principles, tools and techniques of marketing.

To impart necessary knowledge which help the student to choose a career in the field of marketing. To expose the students to the latest trends in marketing.

Module I Marketing: Meaning and definition - Scope and importance - Evolution of marketing

concepts -Modem concept of marketing - Marketing mix - Marketing environment -

Consumer behaviour -Buying motives - Consumer buying process - Factors influencing

consumer buying decision -Market segmentation - Basis-target marketing - Product

positioning - Importance and bases 20 Hours

Module II Product: Meaning and importance – Classification - Concept of product mix – Packaging -

Branding - Brand loyalty and brand equity – Labeling - Product life cycle - New product

development – Pricing - Factors influencing product price - Pricing policies and strategies 15 Hours

Module III Physical distribution: Meaning and importance - Levels of marketing channels -

Wholesaling and retailing - Types of retailing - Factors influencing choice of distribution

channel 10 Hours

Module IV Promotion: Meaning and importance - Promotion mix – Advertising - Personal selling – Sales promotion - Public relation - Factors affecting promotion mix decisions

10 Hours

Module V Rural Marketing : Growing importance - Unique features of rural markets - Market mix

planning for rural market - Service marketing Vs. product marketing - Green marketing -

Social marketing - Relationship marketing - Niche marketing 15 Hours

Module VI E-Marketing: Traditional marketing Vs. E-marketing - Internet marketing - E- advertising -

New trends in internet marketing – E-branding - E-payment systems and security

features in internet. 05 Hours

Reference Books:

1. Marketing Management, S.A. Sherlakar ,. Himalaya.

2. Fundamentals of Marketing, William J Stanton, Me Graw Hill Publishing Co, New

York 3. Marketing by Lamb. Hair, Me Danniel - Thomson. 4. Marketing by Evans &. Berman, 2/e, Biztantra. 5. Marketing - Concepts, strategies by William M Pride. O C Fewell. Biztantra. 6. Marketing Management, Ramaswamy & Namakumari, Macmillan. 7. Marketing Management, Arun Kumar & "Meenakshi. Vikas. 8. Principles of Marketing, Philip Kotler, Armstrong, Pearson Education.

BC3C03 E-COMMERCE MANAGEMENT

Lecture Hours per week: 5 Credits: 4

Internal : 20, External : 80

Objectives: To enable the student to understand basics of E - Commerce To Gain a practical orientation to E-Commerce and E- Business management

Module I Introduction to E- commerce : Meaning and concept - E – commerce V/s Traditional

Commerce - E- Business & E- Commerce - History of E - Commerce - EDI - Importance ,

features & benefits of E- Commerce - Impacts. Challenges & Limitations of E-Commerce -

Supply Chain Management & E – Commerce 15 Hours

Module II Business Models of E - Commerce: Business to Business - Business to customers -

Customers to customers - Business to Government- Business to employee - E- Commerce

strategy -Influencing factors of successful E- Commerce - E-Business Infrastructure -The

internet -Intranets and Extranets - World Wide Web - Voice over IP (VoIP) - The Internet

Standards - The HTTP Protocol - Audio and Video Standards - Managing E- Business

Infrastructure - Web services - New access devices - Future of the internet infrastructure. 25 Hours

Module III Marketing strategies & E- Commerce : Website - Components of website - Concept &

Designing website for E- Commerce - Corporate Website - Portal - Search Engine -

Internet Advertising - Emergence of the internet as a competitive advertising media -

Models of internet advertising - Weakness in Internet advertising - Mobile Commerce. 15 Hours

Module IV Electronic Payment System : Introduction - Online payment systems - Prepaid and

postpaid payment systems - E- cash - E- Cheque - Smart Card - Credit Card - Debit Card -

Electronic purse - Security issues on electronic payment system - Solutions to security

issues - Biometrics - Types of biometrics. 15 Hours

Module V Legal and Ethical Issues in E- Commerce: Security issues in E- Commerce - Regulatory frame work of E- commerce.

05 Hours Reference Books:

1. Turban, Efraim, David King et. el.: Electronic Commerce: A Managerial Perspective,

Pearson Education Asia, Delhi. 2. Dave Chaffey: E-Business and E-Commerce Management, Pearson Education. 3. Kalakota, Ravi: Frontiers of Electronic Commerce, Addison – Wesley, Delhi. 4. Rayport, Jeffrey F and Jaworksi, Bernard J: Introduction to E-Commerce, Tata McGraw

Hill,

New Delhi. 5. Smantha Shurety: E-Business with Net Commerce, Addison - Wesley, Singapore. 6. Rich, Jason R: Starting an E-Commerce Business, IDG Books, Delhi. 7. Laudon, Kenneth C and Carol Guercio Traver: E-Commerce Business, Technology,

Society,

Pearson Education, Delhi. 8. Stamper David A, and Thomas L.Case: Business Data Communications, Pearson

Education,

New Delhi. William Stallings: Business Data Communications, Pearson Education, New Delhi

BC4C04 QUANTITATIVE TECHNIQUES FOR BUSINESS

Lecture Hours per week : 5 Credits : 4

Internal : 20 , External : 80 Objective :

· To familiarize student with the use quantitative techniques in managerial decision making.

Module I

Quantitative Techniques – Introduction - Meaning and definition – Classification of QT - QT and other disciplines – Application of QT in business – Limitations.

05 Hours

Module II

Correlation and Regression Analysis : Meaning and definition of Correlation - Karl

Pearson’s co-efficient of correlation - Rank correlation - Regression – Types -

Determination of simple linear regression - Coefficient of determination.

20 Hours

Module III

Set Theory - Probability: Concept of probability - Meaning and definition - Approaches to probability - Theorems of probability - Addition Theorem - Multiplication Theorem - Conditional probability - Inverse probability - Baye’s Theorem.

15 Hours

Module IV

Theoretical Distribution: Binomial distribution – Basic assumptions and characteristics – Fitting of binomial distribution – Poisson distribution – characteristics - Fitting of Poisson distribution – Normal distribution – Features and properties – Standard normal curve.

15 Hours

Module V

Statistical Inference : Testing of hypothesis – Procedure – Error in testing – Two tail tests and one tail tests – Non parametric tests (Chi-square test only) - Parametric tests – Z test – Test of significance of large samples – Test for two sample means – Small sample mean tests – Students t test – Analysis of Variance – F test – One way ANOVA .

20 Hours

Reference Books :

1. Richard I. Levin and David S. Rubin, Statistics for Management, Prentice Hall of

India, latest edition.

2. S.P.Gupta, Statistical Methods, Sultan Chand, latest edition

3. Sanchetti and Kapoor, Statistics, Sultan Chand.

4. G.C.Beri, “Statistics For Managemet”,Tata Mc Graw Hill, 2003.

5. J.K. Sharma, “Business Statstics:, Pearson, 2004

6. Anderson Sweeney Williams, “Statistics for Business and Economics”, Thomson.

7. R.P.Hooda, “Statistics for Business”, Mc Millan.

8. Levine Krebiel & Bevenson, “Business Statistics”, Pearson edition, Delhi.

SYLLABI FOR COMPLIMENTARY COURSES approved by the Board of Studies in Economics(UG)

Essentials of Economics

Semester I

Essentials of Economics - Micro

Course Category: Complementary Course Course Title and Code: Essentials of Economics-Micro, EC1 C01 No. of Credits: 2 No. of Contact Hours: 54

Module I: Introduction to Economics What Economics is about? – Importance of the study of economics, relation with other social sciences (History, Political Science, Law, Psychology, Sociology). Basic Problems. Micro versus Macro Module II: Theory of Demand Utility, utility function, marginal utility, law of diminishing marginal utility, demand, law of demand. Elasticity of demand and its types. Module III: Theory of Supply Cost, cost function, opportunity cost, variable cost, fixed cost, total cost, marginal cost, average cost, supply, supply function, supply curve, Elasticity of supply and its types. Equilibrium price, market and its classification Module IV: Theory of Production Production function, types of production function (short run and long run), economies of scale. Reference: 1. Dominick Salvatore ‗Microeconomic Theory‘, Schuam‘s Outline Series

Semester II Essentials of Economics-Macro

Course Category: Complementary Course Course Title and Code: Essentials of Economics-Micro, EC2 C01 No. of Credits: 2 No. of Contact Hours: 54

Module I: National Income Concepts and Meaning

GDP and GNP, NDP and NNP. GDP at factor cost and market price, GNP at market price and

factor cost, NDP at market price and factor cost, NNP at market price and factor cost. Personal Income, disposable income, per-capita income. Importance of the estimation of national income, difficulties in estimation of national income. Module II: Major Classical Postulates Say‘s Law of Market, Full employment, wage-price flexibility, leissez-faire Module III: Major Keynesian Concepts Effective demand, consumption, savings, under-employment equilibrium, wage price rigidity Reference

1. Diwedi DN ‗Macroeconomics Theory and Policy‖ Tata Magragel

Semester III

Essentials of Economics-Money, Banking, Finance and Trade

Course Category: Complementary Course Course Title and Code: Essentials of Economics-Money, Banking, Finance and Trade, EC3 C01 No. of Credits: 2 No. of Contact Hours: 54

Module I: Money Definitions and functions of money, demand for and supply of money, Fischer‘s quantity theory of money, inflation and deflation Module II: Banking Role and functions of commercial banks and central bank, monetary policy and its instruments, credit instruments (cheque, draft etc) Module III: Public Finance Public revenue and its sources, public expenditure, public debt, deficit financing, fiscal policy, budget, finance commission. Module IV: Trade Internal and External Trade, Why international trade?, balance of trade and balance of payment, foreign exchange rate, devaluation, revaluation, depreciation, appreciation. Reference 1. Diwedi DN ‗Macroeconomics Theory and Policy‖ Tata Magragel 2. Salvetor D and EA Diulio – Principals of Economics Schuam‘s Outline Series 3. Salvetor D – International Economics Schuam‘s Outline Series

Semester IV

Essentials of Economics-Indian Economy

Course Category: Complementary Course Course Title and Code: Essentials of Economics-Indian Economy, EC4 C01 No. of Credits: 2 No. of Contact Hours: 54

Module I: India as a Developing Economy Major Issues: poverty, unemployment and inequality - causes and remedies Module II: Major Sectors of Indian Economy Importance, contribution and problems of agricultural sector, green revolution, land reforms, Industry: importance, contribution and problems. Services: contribution to the national economy. Impact of economic reforms on major sectors. Module III: Planning Economic planning and its objectives; five year planning in India – achievements and failures Module IV: Kerala Economy Unique features, sectoral contribution, land reforms, decentralized planning, people‘s planning, achievements and challenges in Health and Educational Sectors, Role of Migration and remittances, tourism and development Reference 1. Uma Kapila – (Ed) Indian Economy Since Independence – Academic Fountation – New Delhi 2. Keralapadhanam - KSSP Kozhikode

OPEN COURSES

(for Non-ISLAMIC FINANCE Students) Semester V

1- IFC 5 D01 –A STUDY ON FANDAMENTALS OF ISLAMIC FINANCE


NO. OF CREDITS - 2

NO. OF CONTACT HOURS - 54

Objective

To understand basic fundamentals of Islamic finance

For knowing the comparative review of conventional finance and Islamic finance

COURSE OUTLINE

Module – 1

Economic Doctrine of Islam - Introduction and Philosophy - Assumptions of fundamental principles

and their implication - Man and divine guidance: the role of Quran and Sunnah - Islamic Social

Order: Values and ethnics-The political context of Islamic economics - Capitalism,

Communism/Socialism and Islamic Economic Systems

Module – 2

Islamic Banking - Concept and Evolution of Conventional Banking - Evolution and Development of

Islamic Banking - Differences and Similarities between Islamic and Conventional Banking - Primary

Characteristics of Islamic Banks - Prohibition of Interest - Low Consumer Lending - Profit and Loss

Sharing - High Real Sector Investing - Dealing in Halal - The value of money Islamically interpreted -

Prohibition of speculation - Sanctity of contracts - Sharia approved activities - Easy collateral - The

Islamilisation of commercial banking - Islamic banks in western world - Criticism of Islamic banking

Module –

Principles and Techniques of Islamic Finance - The concept of interest (Riba) - Prohibition of Riba

(in Islam and Christianity) - Real and notional interest - Fixed and viable interest - Interest Vs.

Profit - Interest as return - Riba al-Nasial and al-Fadi - Consumption and production loan.

Financing Techniques – Mudaraba – Musharakah – Murabaha - Ijara and

IjarahMuntahiaBittamleek - Salam and Parallel Salam - Istisna’a.

Referances

Islamic Finance: Law, Economics, and Practice By Mahmoud A. El-Gamal Cambridge University Press

Understanding Islamic Finance By Muhammad Ayub - WILEY Publishers

II- IFC 5 D02 - ISLAMIC COMMERICAL LAW


NO. OF CREDITS - 2

NO. OF CONTACT HOURS - 54 Hours

Objectives

To understand the basics of conventional Business Law

To study the fundamentals of Islamic Commercial Law and to make a comparative study about two

concepts.

MODULE -1

Fundamentals of Shariah for Islamic Finance Practitioners: Sources of Shariah - Objectives of

Shariah - Operatives legal maxims Definitions of assets in Shariah - Rules of ownership in Shariah -

Essentials of Shariah compliant contracts - Prohibited elements in Shariah: Riba, Gharar, Haram

products and activities.

MODULE –2

Nature of Islamic Business/Financial Contracts: Intermediation contract – Mudaraba - Kitala

(Guarantee) – Takaful - Wakala (Agency contract) - Juala - Hawala (Transfer) - Rahn (Mortgage) -

Transaction Contract– Mudaraha - Bay Salam - Bay Mua’ajal – Ijara – Istisna – Musharaka - Wa’d

(Promise) - Muwada or Mua’hida (Agreement)

MODULE –3

Legal Practices in the Islamic Financial Industry - Shariah principles influencing regulatory

framework for Islamic finance - Foundations of adequate and efficient Islamic finance

environment .

Focused Shariah Council (FSC) - Strong and harmonized legislation - Legal issues to consider in

structuring Shariah compliant products.

References

Elements of Mercantile Law – N D Kapoor

Mercantile Law – M C Shukla

Islamic Commercial Law By Muhammad Yusuf Saleem – WILEY Publishers

II- IFC 5 D03 - ISLAMIC INSURANCE


NO. OF CREDITS - 2


Objective

To know the concepts of conventional and Islamic insurance.

To understand working mechanism of thakaful and its regulatory issu

COURSE OUTLINE

Module – 1 Conventional contract of insurance – kinds of insurance contracts – basic principles:

utmost good faith, insurable interest, indemnity, subrogation, contribution, causaproxima.Co-

insuranceRe-insurance

Module – 2 Islamic Insurance – Takaful

Islamic attitude towards risk - Muslim objections to insurance - Permitted forms of insurance - The

nature and structure of Takaful compare with conventional insurance - The limitations of products

within Islamic Insurance - How to remunerate the insurance operator - The Shariah governance of

Takaful undertakings - The risks and controls within Takaful firms

Module – 3

Business models of thakaful – business structures and regulatory implications – shari’ah principle

governing thakaful contracts – thakaful management models.


Neo classical and neo corporatist models of Corporate Governance.

Corporate Governance Issues in the Insurance Industry.

Corporate Governance Issues in Thakaful

Reference

Takaful Islamic Insurance: Concepts and Regulatory Issues edited by Simon Archer, Rifaat Ahmed

AddelKarim, Volker Nienhaus – WILEY PUBLISHING.

Islamic Insurance: A Modern Approach to Islamic Banking ByAlyKhorshid

Islamic Insurance: Trends, Opportunities and the Future of Takaful edited by SohailJaffer –

EUROMONEY PUBLISHING.

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ELECTIVE COURSES

(for ISLAMIC FINANCE Students)

Semester VI

1-IFC6E01-ISLAMIC FINANCIAL INSTITUTIONS


NO. OF CREDITS - 2


Objective

To understand institutional setup for Islamic finance institutions globally.

To know the conversion of interest based baking to Islamic finance

COURSE OUTLINE

Module – 1 -Framework of Islamic financial institutions–overview of Islamic financial system –

Islamic banking operations – the evolution of Islamic banking – theoretical considerations of

Islamic financial system.

Module – 2 -Conversions of Interest Based Banking to Islamic Banking - The General Approach -

Conversion on the Assets Side - Participative Finance - Treasury Management - Islamic Window -

Islamic Branch/Unit - Islamic Subsidiary - Trade Finance - Documentary Collection and the passing

of title - Diagramming the main Shariah issues for LPOs/LOCs - Diagramming of sales and

partnership with LPOs/LOCs - Diagramming a sales contract and shifting it into a credit instrument

- Pure Murabaha Import LOC - Agency Murabaha LOC

Module – 3 -The Intenational Association of Islamic Banks (IAIB) - The Higher Riligious

Supervisory Board and Dar Al-Maal Al-Islami - Islamic Development Banks and its Role – Islamic

Banks operations in Iran, Pakistan, Malaysia and Turkey.

Module – 4 Islamic insurane institutions across the world – Islamic fund management institutions

in the international scenario.Islamic banking operations in India-Islamic stock exchange indices all

over the world – Indian Indices – BSE shari’ah Index – operative mechanism.-Overview of Islamic

venture capital institutions in India.

Reference

Directory of Islamic Financial Institutions (RLE: Banking & Finance) edited by John R R Presley

ROUTLEDGE LIBRARY EDITIONS.

Islamic Financial Institutions of India - Progress, Problems and Prospects - Mohammad

GhousIkhtiyarrudinBagsiraj.

II- IFC6E02- STUDY ON ISLAMIC BANKING SYSTEM SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 6

NO. OF CREDITS 2

NO. OF CONTACT HOURS - 75 Hours Theory (4 hrs/wk)

Objectives

To know the basics of conventional banking and Islamic banking.

To overview the pros and cons of conventional and Islamic banking.

COURSE OUTLINE

Module – 1 -Conventional Commercial Banking – working mechanism – deposit schemes and its

functioning – lending schemes – other supporting services offered by commercial banks – profit

making of commercial banking – interest rates for deposit schemes and lending.

Module – 2 -Structure of an Islamic Bank - Structure of an Islamic Bank/Islamic Banking Model - The Islamic

Banking Markets: Funds Mobilization and utilization.

Financial Instruments being used to mobilize funds: Current Account - Saving Account -

Investment Account - Specific purpose investment account - General purpose investment account

Module 3-Financial instruments being used to utilize funds - Equity financing - Project financing

under the principle of Al-Mudaraba (Trustee Financing) -Project Financing under the principle of

al-Musharaka (Equity Joint Venture) - Al-QardAlhassan.

Debt Financing - Trading Financing - Commodity ventures as the basis of Murabaha - Letter of

credit under Al-Wakalah, Al-Mushariaka and Al-Mudarabaha.

Letter of Guaranntee - Financing working capital under Al-Murabaha - Rental (Venture and

Financing (Ijarah) - Equity Lease Purchase - Equity Hire Purchase - Partnership Venture - Personal

Finance - Trade Finance Deal - Company Business Financing - Finishing work capital under the

principle of Al-Murabaha - Mortgage Financing - Procedure of Assessment of Profit/Loss Sharing.

Module – 4 -Balance Sheet and Income Statement Analysis of Islamic Banks and Other Accounting

Issues - Document and Documentation for Islamic Banks.

Challenges for Islamic Banks

Conversion of conventional banking to Islamic Banking.

References Islamic Banking by Mervyn Lewis, Latifa M. Algaoud Islamic Banking: How to Manage Risk and Improve Profitability By Amr Mohamed El Tiby Ahmed –

WILEY Publishing.

Banking theory and practice – K C Shekhar

Banking theory: Law and Practice – Rajesh, McGraw Hill Publisher

III -IFC6E03- MARKETING OF ISLAMIC BANKING PRODUCTS


NO. OF CREDITS - 2

NO. OF CONTACT HOURS - 75 Hours Theory (4 hrs/wk)

Objective

To understand about the marketing activities in Islamic banking.

To know the role of marketing in the international Islamic financial institutions to expand its

operations.

COURSE OUTLINE


Concept of Marketing Application of 5Ps of marketing

Product, Price, Promotion, Place and People

Marketing Ethics n Islamic Banking

Qualities and criteria of IB marketing personnel


Packaging Islamic Banking Products

Broad categories of banking activities

Customers expectation


Success factors in marketing Islamic Banking Products

uniqueness of Islamic Banking Products

Effective ways in marketing of Islamic Banking Products

The do’s and dont’s in marketing


Building Customer Relations and Care

Recognizing the importance of the customer

Opportunities and responsibilities when facing customers

Effective communication with Customers

Personalizing customer contact

Building businesses through customer contacts Managing difficult customers

Reference

Economic enterprises in Islam – Najathulla Siddiqui.

Studies in Islamic Economics – Kurshid Ahammed.

Marketing Management – Philip Kotler.

COMMON PAPERS

REVISED SYLLABUS FOR COMMON COURSES 2014-15 ONWARDS

CODE. ENG1 A01 1. OBJECTIVES OF THE COURSE

To train learners in the Basic English Language Skills, word building, soft skills and effective communication

2. COURSE DESCRIPTION

Module 1: English for Communication 10 hours Module 2: Primary Skills 15 hours Module 3 : Secondary Skills 15 hours Module 4: Grammar 20 hours

Evaluation 12 hours Total 72 hours

COURSE CODE ENG1 A01


SEMESTER IN WHICH THE COURSE TO BE 1 TAUGHT

NO. OF CREDITS 3

NO. OF CONTACT HOURS 72 (4 hours/ week)

A.Core Text Module 1. English for Communication

1. Communication and Language 2. English as a Global Language

Module 2.Primary Skills

1. Listening 1. Listening to a conversation 2. Listening to a speech 3. Listening to a lecture

2. Speaking

1. Greeting 2. Thanking 3. Requesting

4. Enquiring 5. Explaining 6. Reporting 7. Permission 8. Pronunciations of English

i. Introduction to phonetics ii. Received Pronunciation iii. Vowels and Consonants

Syllables and Word Stress Module 3. Secondary Skills

1. Reading

1. News reports 2. Charts 3. Advertisements 4. Official Letters/Documents 5. Online Content 6. Reading Poem” An October morning” 7. Reading Poem” Hawk Roosting” 8. Reading the essay,” How to escape from intellectual rubbish” 9. Reading the essay “On the need for a quiet college ”

2. Writing

1. Sentence 2. Paragraphs 3. Reports 4. Letters 5. Resumes and Cover Letters 6. Emails 7. Making Notes 8. Blogs 9. Punctuations

Module 4. Grammar iii. Word Class jjj. Subject – Verb Agreement kkk. Tenses lll. Articles mmm. Phrases ,Clauses and Sentences nnn. Voices ooo. Idioms

Appendix

Code Title Author Publisher & Year

ENG1

A01 The Four Skills for Communication Dr. Josh Sreedharan Cambridge UP, 2014

CODE. ENG1 A02 1. OBJECTIVE OF THE COURSE

a. To introduce learners to representative English prose from different cultural and geographical backgrounds

b. To cultivate their tastes in drama c. To expose to logical and imaginative writing


Module 1: Prose 40 hours

Module 2: Drama 40 hours Evaluation: 10 hours

Total: 90 hours


TITLE OF THE COURSE


NO. OF CREDITS 3

NO. OF CONTACT HOURS 90(5hrs/wk)

)


A. Core Text Module 1. Prose

1. Gandhiji as a School Master : M.K.Gandhi 2. Women’s Role in the National Movement : Subhash Chandra Bose 3. Martin Luther King and Africa: Chinua Achbe 4. Ambedkar’s Constituent Assembly Speech: Dr.B.R.Ambedkar 5. Why I Want a Wife : Judy Brady

6. In Search of Sweet Peas: Ruskin Bond

Module 2. Drama

1. Never Never Nest: Cedric Mount 2. Refund: Fritz Karinthy 3. Soul Gone Home : Langston Hughes


ENG1 A02 Modern Prose and Drama Dr. Zainul Abid Kotta Oxford UP, 2014

ENG2 A03


TITLE OF THE COURSE


NO. OF CREDITS 4


1. OBJECTIVES OF THE COURSE

a. To acquaint the students with Short Stories b. To cultivate their tastes in English Poetry c. To expose to imaginative writing

2. COURSE OUTLINE

1. Module 1. Poems 30 Hrs 2. Module 2 .Short Stories 30 Hours 3. Evaluation 12 hours

Total 72 Hours

COURSE CODE ENG2 A03 A. Core Text Module 1. Poetry

I. “On his Blindness” : John Milton J. “To his Coy Mistress” : Andrew Marvel K. “Ulysses”: Lord Tennyson L. “Ode to Nightingale”: John Keats M. “My Last Duchess”: Robert Browning N. “Indian Summer”: Jayanth Mahapatra

O. “Journey of the Magi”: T.S.Eliot

Module 2. Short Stories

1. The Luncheon : Somerset Maugham 2. Karma: Kushwant Singh 3. The Model Millionaire: Oscar Wilde 4. The Night the Ghost Got in : James Thurber


ENG2 A03 Inspiring Expressions Prof. Muhammed Black Swan, 2014 Ayub Kallingal

CODE. . ENG2 A04


TITLE OF THE COURSE


NO. OF CREDITS 4


1. Objectives of the Course

To introduce learners to various issues in the contemporary society To create an awareness of preservation of the environment and nature To inculcate the spirit of social life, values, duties and rights


Module 1: Social Issues 20 hours Module 2: Environment 20 hours Module 3: Gender 20 hours Module 4: Human Rights 18 hours Evaluation 12 hours Total 90 hours

COURSE CODE . ENG2 A04

A. Core Text Module 1. Social Issues

1 The Social Cause of Economic Globalization : Vandana Siva 2 Unity Amidst Diversity: Dr. Rajendra Prasad

Module 2. Environment

1. Man and Nature in India: Dr. Salim Ali 2. Climatic Change in Human Strategy: E.K.Federov

)

Module 3. Gender

1. Widow: G. Venkat Chalam 2. More than 100 million Women Missing : Amartya Sen

Module 4. Human Rights

1. Stigma, Shame and Silence: Kalpana Jain 2. I am Happy, Don’t you believe :Santhosh John Thooval

Publisher Code Title Author &Year

ENG2 A04 Readings on Society Dr. K.P. Nanda Kumar Cosmo, 2014

ENG3 A05


TITLE OF THE COURSE


NO. OF CREDITS 4


5. OBJECTIVE OF THE COURSE

To inculcate native feelings among the learners To provide contemporary cultural and social awareness of Kerala through English


Module 1: Extracts from Native Print Media 30 hours Module 2: Extracts from Visual Media 30 hours Module 3: Extracts from Internet 18 hours Evaluation 12 hours Total 90 hours

COURSE CODE . ENG3 A05 Core Text

Module 1 Extracts from Print media

1. Achadi, drishyam, samoohya madhyamangalude samakaliga samanvayam. A speech by Sasi Kumar, Director College of journalism. Appeared in Malayalam weekly 17 January 2014

2. “Young Indians have become more superstitious”. By Shalini Singh. An interview/Jayant Vishnu Narlikar, Astrophysicist (The Week 1 February 2014)

3. Interview- Bill Gates. “India did not get anything wrong’’ from Outlook. 10 June 2013

Module 2 Extracts from Visual Media

1. “Television reality shows. Satyamevajayate” Episode s 2. Break the Silence 4. Every Life is Precious, 10. Dignity for All.

2. “Analyzing Television Commercials”

3. Doc film: “Only An Axe Away” (Malayalam/40min/20 04/DV) by P.Baburaj and C. Saratchandran

Module 3 Extracts from Internet

1. “The Internet and Youth Culture”. Gustavo S. Mesch.

http://www.iasc-culture.org/THR/archives/YouthCulture/Mesch.pdf 2. “Writing online: websites, blogs and social network ing” ( model business

letters, emails… Shirley Taylor) 3. “How Google has changed our Language”. ( Integrated advertising, promotion

and Marketing communications. By Kenneth E. Clow et al 266-67)

4. Short films on internet A. Facebook Short film – Status Updated by Abhinav Sunder Nayak B .Applied? By Nitin Menon


ENG3

A05 Native Media in English Prof. Mahamood Pampally & Pearson,2014 K.Rizwana Sultana

CODE. ENG4 A06


TITLE OF THE COURSE Reading Fiction and Non Fiction


NO. OF CREDITS 4


3. OBJECTIVES OF THE COURSE

i. To develop reading fictional and nonfictional works from a national perspective. j. To improve language skills through literature k. To promote writing narratives.


Modules 1: An Indian English Popular Fiction 30 hours Module 2: A section from an Autobiography of an Indian 30 hours Module 3: A travelogue by a Malayali writer in translation 18 hours Evaluation: 12 hours Total 90 Hours


ii. Core Text Nampally Road: Meena Alexander Sunny Days, Chapters 1,9,23 : Sunil Gavaskar In the Land of Africans: S.K.Pottekkat


ENG4 A06 Reading Fiction and Non Fiction Dr. Josh Sreedharan Cambridge UP, 2014

COMMON PAPERS

SECOND LANGUAGE

I- CODE. AR1A07(1) SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 1

NO. OF CREDITS - 4


Aims and Objectives

•To teach the students the basics of interpersonal interaction in Arabic

•To train the students to communicate in Arabic in selected situations

Module 1. Interpersonal Interaction

•Knowing each other

•The traveler

•The picture

•The lunch

•Accommodation

Module 2. Situational Conversation I

•The Family

•Are you sure?

•I am a student

•The street is crowded

•What is your opinion?

Module 3. Situations Conversation II

•What is your Hobby?

•How to make friends?

•Why were you absent?

•What do you prefer?

•I wake up early

Module 4. General Conversation

•When do you go to the College?

•How do you feel now?

•What's the reason?

•A sad news

•Now I am a grown up man

(Note: Each chapter followed by additional exercises for practice)

Prescribed Text Book : Muhadasath Youmiyya Edited by : Dr. Mohammed Haneefa. P Books for reference : Al Arabiyya Linnashieen, Part 1 & 2

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II-CODE. AR2A09(2)


NO. OF CREDITS - 4


Unit 1

A.1. Min Nooril Quran

B.4. Al Iktibar

C.5. Risalath Al Masjid fil Islam

Unite 2

A.2. Minal Hadith Al Naba viyyi

B.3. Kuthbath Umar Bin Abdul Aziz

C.8. Al Islam (Poetry)

Unit 3

A.6. Riskun Minassamae

B.7. Al Sharaf

C.9. Al Wafa Wal Haya

Core Text: "Al Nusus Al Adabiya"

edited by

Jabir Amani

Al Huda Book Stall,Calicut-2

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III- AR3A09(2) COMMERCIAL ARABIC -Paper I


NO. OF CREDITS - 4


COURSE OUTLINE

Unit 1

1- Letter writing (Page 15-24)

2- Correspondence (Page 26-80,ten letters)

Unit 2

3- Job Applications (Page 82-95, 6 applications)

4- Advertisements and Notifications

(Page 102-112, Ten advertisements)

Unit 3

5- Tenders and quotations (Page 132-147, Ten examples)

6- Employment abroad (Page 150-157, 5 examples)

Unit -4

1-Chapter -5 ,Business arabic (page 187 )

2-Chapter-6 Business Arabic (Page 207)

3-Chapter 9 Business Arabic ( first half of the total nos .only –Page -301)

.

Priscribed Text Book : A hand book of Commercial Arabic -New edition

by Dr. K.P. Aboobacker

Books for reff;

1-Technical, Business, Legal and Journal Arabic-

Dr.TP Mohammed Abdul Rasheed/Alhudha Bookstall-Calicut

2- The Commcrcial Arabic

Prof:VP Abdul Hameed

3- Bussiness Arabic By- Dr. AI Rahmathullah alicut/ Alhuda Bookstall , Calicut-2

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IV - AR2A10(2) COMMERCIAL ARABIC -Paper II



COURSE OUTLINE

Unit 1

1- Certificates and documents (Page 174 – 191, Ten certificates)

2- Glossary of idioms and expressions (Page 276 – 282)

I. Banks and accounts (Page 294 – 296)

Unit -II

3-correspondence (page-305-313)

4-journalistic style and expression (page-314-319)

Unit III

1- Chapter -6 Money markets and commercial translation (page 230 -264

2- Bussiness Arabic-By- Dr. AI Rahmathullah

Priscribed Text Book : A hand book of Commercial Arabic

by Dr. K.P. Aboobacker

Books for reff;

1-Technical, Business, Legal and Journal Arabic-

Dr.TP Mohammed Abdul Rasheed/Alhudha Bookstall-Calicut

2- The Commcrcial Arabic

Prof:VP Abdul Hameed

3- Bussiness Arabic By- Dr. AI Rahmathullah alicut/ Alhuda Bookstall , Calicut-2

Complementary Courses for other Programmes

Complimentary Courses prescribed for any BA Programme approved

by the Board of Studies in Islamic Finance

Islamic Commercial Law and Contract


Semester I IFC1 C05 Islamic commercial Law and Contract – I Semester II IFC2 C05 Islamic commercial Law and Contract – II

Semester III IFC3 C05 Islamic commercial Law and Contract – III Semester IV IFC4 C05 Islamic commercial Law and Contract – IV

Fundamentals of Islamic Economics


Semester I IFC1 C06 Fundamentals of Islamic Economics – I

Semester II IFC2 C06 Fundamentals of Islamic Economics – II Semester III IFC3 C06 Fundamentals of Islamic Economics – III

Semester IV IFC4 C06 Fundamentals of Islamic Economics – IV

IV. Islamic Commercial Law and Contract

Semester I

Islamic commercial Law and Contract – I

Course Category: Complementary Course

Course Title and Code: Islamic Commercial Law and Contract – I, IFC1 C05

No. of Credits: 2

No. of Contract Hour: 54

Module 1 Islamic Law of contract:

Principles of Islamic business – classification of contracts – contract of exchange

– contract allowing the transfer of the usufruct – partnership contract – security

contract – the legality of foreign exchange transaction

Module 2 Islamic Asset and Fund Management:

Principles and constraints of Islamic fund structures – Islamic investment

products – Islamic stock selection process – Islamic fund performance – liquidity

strategies – structure, marketing and distribution – incorporation, authorization

and regulation – the Shariah committee and fund management

Module-3 Islamic Bond Market (Sukuk):

Definition – management – characteristics – structuring Sukuk transactions –

AAOIFI standards – capital market consideration relating to Sukuk

Module-4 Venture capital:

Features – selection of investment – stages of financing – early stage financing,

social round financing, later stage financing. Equity financing – Islamic

syndication – Qard Hasan

Books for reference:

1. Islamic law of Contracts & Business Transactions by MT Mansuri, Adam

Publishers & Distributors, 2006

2. Khiyanatul amaanah wa atharuha fil uqud al maaliya fil sharia’ al Islamiya

by Dr. Muahammad Oleiwi Nasir, Dar al thaqafa linnashr wal tawzi’

3. Contracts in Islamic Law by Hussein Hassan, Publishers: IB Tauris 2005

4. Fundamentals of Islamic Money and Capital Markets By Azmi Omar,

Muhammad Abdul, Raditya Sukman

1.

----------------------------------------------------------------------------

Semester II

Islamic commercial Law and Contract – II


Course Title and Code: Islamic Commercial Law and Contract – II, IFC2 C05

No. of Credits: 2


a. Introduction

Honesty in commercial dealings is an important factor behind a successful

society. A Just social milieu censures political chicanery and economic

exploitation as strongly as social excesses and individual dishonesty.

Indeed, a true society is based upon honesty, justice and fraternity, and is

absolutely intolerant of dishonesty in all its forms. That is the reason why

perfect honesty in business and truthfulness in trade are much

emphasized by the Prophet Muhammed who urged his followers to adopt

trade as their profession and exhorted them to observe truthfulness and

honesty in their business transactions. His teachings emphasized on food

earned through unlawful means.

b. Objective

This course gives a clear idea of the rules on trading based on the sayings of Prophet Muhammed with a focus on what deals are permissible (“Halal“) or forbidden (“Haram“). These rules apply to any market or other types of trading. Trading in shares, derivatives, insurance and other forms of risk are also covered.

c. Learning outcome

Passing out this course the students are expected to learn the business ethics and lawful and unlawful business deals according to the sayings of the Prophet.

d. Syllabus

Module 1: Legal and illegal things clearly defined- explanation of doubtful

things – dark suggestions are doubtful things – earning legally and illegally –

trading of cloth – going out for trading – enlarging sustenance- credit

purchase by Prophet – earnings and manual labour – being easy and

generous in bargaining – giving time to rich person to pay – good and bad

point of transaction – selling mixed dates

Module 2: Riba (usury) the sin of riba giver – Allah will destroy riba – the

blacksmith – the tailor – purchasing animals – the hajjam – sale of

undesirable thing – buying a thing and giving in present – cheating in

business – the markets – weighing and measuring – preferable regarding

measuring – sa’a and mudd – selling and storing foodstuffs – seller urging to

cancel bargain - selling by auction – haba-il-habala – returning an animal –

selling without commission – meeting caravans on the way

Module 3: Barter system – dinars for dinars on credit – silver for gold on

delay payment – muzabana – selling dates on trees – selling fruits before

their benefit is evident – loss of fruit sold before their benefit is evident –

buying dates for a better kind – bai’ al mukhadara – traditions and

conventions in matters of sales – mutual sale of joint property – killing pigs –

sale of dead animals – selling dogs

Module 4: Salam by a specified measure – salam to one having nothing –

informing partner before selling his share – the nearest neighbor – hiring a

pious man – looking after sheep for qirat – to employ from asr till night –

labourer leaving his wages – charging for semen of an animal - rejecting al-

hawala after accepting the same – transferred debt of the dead – giving the

due portion - undertaking debt of a dead person – one partner deputing

another – giving gifts to a deputy – deputy leaving/selling something

Module 5: Sowing seeds and planting trees – indulging in cultivation –

keeping watchdog for a farm – employing oxen for ploughing – dividing the

yield into two – waqf of the companions – cultivating neglected land –

sharing the yield and fruits - distribution of water – water should not be

withheld – withholding water from travellers – the water owner – hima –

selling wood and grass – land granted by a ruler – borrowing money from

people – repayment of debts – funeral prayer for dead person in debt –

wasting money


1. Sahih al Bukhari

2. Summerised Sahih al Bukhari Trans. by Dr. Muhammed Muhsin Khan,

Islamic University, Al-Madinah Al-Munawwarah; Darussalam Riyad 1996.

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Semester III

Islamic commercial Law and Contract – III


Course Title and Code: Islamic Commercial Law and Contract – III, IFC3 C05

No. of Credits: 2


a. Introduction: A just and Balanced economy which neither despises wealth

nor takes it as a god; it acknowledges its value and importance, without

exaggerating its status. It differs from old fashioned religious asceticism,

which regards wealth as something evil which contaminated the soul and

prevents it from reaching perfection; it also differs from modern doctrines

which make economics the central axis of life and make money a god to

be worshipped. The Islamic view on wealth is based on its view of the

value of wealth and its importance in life as befits human beings not as a

source of temptation (fitna) that drags him to the depth of extravagance,

luxury, greed and misguidance.

b. objective

This course is intended to provide students a clear idea of Islamic view of wealth and its methodology. The main objective of this course is to equip students with a wider idea on the economical dealings of Islam.

c. learning outcome

With this course students are expected to learn the distinct and moderate economic system that Islam put forth

d. syllabus

Module 1: Value of wealth and its importance –How blessed is good money for

a good man (1) – Protection wealth against loss (2) – Man’s love for wealth –

Quran’s warning against being tempted by wealth – Greed – man is the trustee

over the wealth- wealth is subjected to the commands of the Creator- Private

ownership – man’s natural inclination towards freedom, humanity and justice –

individual incentive to work, strive and do a good job- condition of being wealth

is acquired through permissible means – No oppressor nor oppressed – purity of

individual ownership.

Module 2: Prohibition of riba (usury, interest) – exploitation of the poor by the

rich - lack of hard work – absence of contentment in riba – riba as a major sin -

Prohibition of hoarding – prohibition of deceit – prohibition of trading in

prohibited things - prohibition of extravagance (tarf) – prohibition of ill-gotten

gains – prohibition on taking public funds – warning against taking advantage of

one’s position.

Module 3: Achieving self-sufficiency for the society – acquiring knowledge, skills

and expertise that enable the society to produce all that it needs in material

terms – achieving honour, happiness and strength that enable the society to

fulfill the mission of self – sufficiency – development of human resources and

potential in every field - improved use of conservation of resources – gathering

statistics on the sources – protecting and conserving the resources – zero waste

and zero negligence of the resources – mobilization of means to develop

resources – necessity of cultivating land

Module 4: Coordinating and integrating production – focusing on areas of need

in the society – making up shortcomings – prioritizing the needs – precedence of

essentials over the optional extras – cultivation of essential items – cultivation

of plants that are harmful to the individual or the society - Putting money to

work and not keeping it or hoarding it – moderation in spending – establishing

social balance between the classes – Narrowing the gap between rich and poor

– organization of the collection of zakat and its distribution to the poor –

Establishing social security and taking care of it – inheritance and redistribution

of wealth – setting out a plan to increase and develop wealth

Module 5: Guidelines to the financial reform - money : grace and blessing; test

and trial - misuse of money for putting obstacle in the way of right and

goodness- money must be preserved and neither be squandered nor wasted –

spending money for the sake of goodness – the means of life of the society –

Pride of nation – welfare of mankind - Obligatory duties and representations of

money – financial reforms in Islam


1. The Ideal Muslim Society as Defined in the Quran and Sunnah by Dr.

Muhammed Ali Al Hashimi, published by International Islamic Publishing

House, Riyadh. (one chapter, A Balanced Economy).

2. Almujtama’a al Muslim kamaa bayyanahul Islam fil ktab wassunnah by

Muhammad Ali al Hashimi, Dar el Basha’er el Islamiyya littiba’a wa tawzi’

Beirut, Lebanon. (one chapter mujtama’ al iqtesad al aadil al mutawazin)

3. Economic Objectives of the Quran by Muhammad Rasheed Ridha (Al

wahy al muhammadi, chapter - al Irshad ila al islah al mali)

Semester IV

Islamic commercial Law and Contract – IV


Course Title and Code: Islamic Commercial Law and Contract – IV, IFC4 C05

No. of Credits: 2


Module 1 Concept of Economic system:

Constituent elements of and economic system – classification of alternative

economic systems, features of Islamic Economic system and how it differs from

other Economic systems – performance of system – evaluation criteria –

performance of Islamic Economics in comparison with Socialism and Capitalism.

Module 2 Economic development:

Mainstream approach – sustainable development, development an Islamic

perspective. Resource mobilization and resource allocation in Islamic system –

Islamic strategy for Economic development

Module 3 Distributive justice:

Conflict between growth and distributive justice – failure of trickle down effect –

distributive justice Capitalist, Socialist, and Islamic views. Islam’s measures for

ensuring distributive justice – role of Zakat

Module 4 Welfare Economics:

Criteria of welfare in conventional economics – Islamic methods of attaining

welfare – Zakat, Sadaqa, interest-free loans, welfare implications of production

and consumption in Islam in comparison with other systems

Module 5 Public Economics sources of revenue in conventional economics:

Tax and non-tax revenue – Zakat, Fay, Ghaneemah, Kaffarah etc., heads of

expenditure in conventional Economics and Islamic Economics

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V. Fundamentals of Islamic Economics

Semester I

Fundamentals of Islamic Economics – I


Course Title and Code: Islamic Commercial Law and Contract – I, IFC1 C06

No. of Credits: 2


Module 1 Nature and scope of Islamic Economics:

Assumption – Economic Man v/s Islamic Man, the world view of Islam, approach

of Islamic Economy - difference with mainstream Economics. Sources of Islamic

Economics Quran, Hadith and works of Muslim jurists

Module 2 Consumer behavior in Islam:

Islamic concept of preference, self-interest and social interest (selfishness v/s

altruism), utility maximization. The concept of market in Islam- Early Islamic

thought on market mechanism (Ibn Taymiyyah and others)- Role of government

in controlling market.

Module-3 Production:

Factors production - incentive for production, population and economic

development – role of capital and entrepreneurship- differences with

mainstream Economics.

Module-4 Prices and markets:

Behavior of firms in an Islamic Economy – comparison of firms behavior in

conventional Economics – pricing production of firms in an Islamic Economy.

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Semester II

Fundamentals of Islamic Economics – II


Course Title and Code: Fundamentals of Islamic Economics –II, IFC2 C06

No. of Credits: 2


a. Introduction:

To provide an introductory overview to the development of Islamic economics,

from the era of the Prophet Muhammad to the most contemporary Islamic

economic thinking

b. Objectives:

c. Learning outcome:

This course aims to enable students to clearly understand the roots of and main

frameworks behind both classic and contemporary Islamic economic thought.

d. Syllabus

Module 1 History of contemporary Islamic economic thought:

Historical account of the Islamic economics from the Prophet’s time to the

contemporary Islamic economic system

Module 2 Evolution of Islamic economic thought:

Economic institutions during the time of the Prophet and Right Guided Caliphs

Module 3 Islamic economic thought after Right Guided Caliphs:

Development of economic institutions during Umayyad, Abbasid and later

periods, Management of revenues, Kitab al amwal and Kitab al Kharaj

Module 4 Contemporary development in Islamic economic thought:

Islamic economics and its relevance in the current financial climate and

successful experiments in the Islamic world and elsewhere

Module 5 Implementation of Islamic economics concept worldwide:

Case study - General overview of the spread of Islamic finance worldwide in the

last decade - Successful financial experiments based on Islamic economics

worldwide - with special reference to Malaysia, Egypt and the UK. Expression of

interests in Islamic finance even from non-Islamic countries

Module-5 Islamic economics in future:

Future course of the interest-free Islamic economic system as an alternative

model, its survival in a system that totally dependent on usury and speculation

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Semester III

Fundamentals of Islamic Economics – III


Course Title and Code: Fundamentals of Islamic Economics– III, IFC3 C06

No. of Credits: 2


a. Introduction: This course expands on the necessary requirements to

effect communal transformation on the basis of verses from 261 to 283

from Sura al Baqara the first chapter of the Quran. It focuses on two

agents of social change, one positive and one negative: charity and usury.

Quran the first and foremost source of Islamic law is concerned that the

man understands the nature and purpose of charity: there are right and

wrong ways in which it can be dispensed. Charity is an obligation towards

the fellow human beings. The most fundamental basis of Quranic vision is

that man cannot be good in isolation. The objective of charity to create a

world of justice and equity, of opportunity to all whereas usury deepens

poverty and widens the gap between the haves and have-nots. An

important principle of the Law of dealings, or the Law of Contracts in

modern legal terminology, has also been taken up in the course.

b. objective

This course is intended to provide students a clear idea of what the early Islamic sources say on usury and charity, the day-to-day economic activities in every society.

c. learning outcome

With this course students are expected to learn the importance of charity and harmful effects of usury on the society.

d. syllabus

Module 1: The likeness of those who spend their wealth in the path of

common good- - spending wealth in order to flaunt by reminding of

generosity of causing offense – giving the inferior portion in alms – charity is

not the giving away of the cast-offs - relation between poverty and sin –

charity should go the poor – charity should not highlight the distinction

between the haves and have-nots - Zakat is obligatory - zakat is to be used

for social welfare purposes – Charity is distinct from zakat – paying of zakat is

not the end of the obligation to society - A middle community in its economic

activities– neither miserly nor extravagant – making society and all its citizens

prosper - expenditure and investment has to be accompanied by physical or

intellectual labour – basis of distributive outlook of the Quran

Module 2: The evil of usury – difference between trading and usury – usury

insulates the capitalist form risk –destruction by interest and increase by

charity – keep away from usury or war against god – usury creates selfishness

and greed - making money from money is arid – little benefit for society as a

whole - A written document must be kept on a transaction – due date of

payment should be determined – nonpartisanship of the scribe – dictating

the document – insane, minor and their guardian or wali –writing of an

agreement is not a conclusive proof - witness and rules of witnessing – the

number of witnesses – qualification of witnesses – witness should not suffer

Module 3: Honesty, justice and fraternity in commercial dealings - food

earned through lawful means – believers do not consume one another's

wealth unjustly but only [in lawful] business by mutual consent - nasty food

spolis spiritual and physical health- Ibn Awf’s model of earning and business -

legal (halal) and illegal (haram) things are obvious - one who does not care

from where he earns- money exchange. He replied, 'If it is from hand to

hand, there is no harm in it; otherwise it is not permissible. Whosoever

deceives us is not one of us - give just measure and weight – do not

withhold from the people the things that are their due- do not commit evil

on the earth with the intent of doing mischief - the buyer and the seller,

should be truly sympathetic and considerate towards each other - mutual co-

operation for the cause of goodness and piety - goods not to be sold before

obtaining their possession - goods to be bought in the open market

Module 4: Prohibited form of business - cartels and monopolies -

speculative business based on selfish interest - interest transactions -

Transactions similar (in nature) to gambling – lottery - Munabadha and

Mulamasa – Mozabana or exchange of fresh fruits for dry ones - Mu'awama -

Bai' al-Gharar - Mortgage


1. Holy Quran from verse no. 261 to 283 of the Chapter 2 Al Baqara

2. Sahih Bukhari , The Book of Trade

3. Fiqh al Sunnah by Sayyid Sabiq, Chapter Al Buyu’

4. Reading The Quran by Ziauddin Sardar (one chapter, Al Baqara Charity

and Usury)

5. Tafsir Al Manar by Muahammed Rashid Ridha (Commentary of verses 261

to 283 of Chapter 2 Al Baqara)

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Semester IV

Fundamentals of Islamic Economics – IV


Course Title and Code: Fundamentals of Islamic Economics – IV, IFC4 C06

No. of Credits: 2


a. Introduction

Zakat is an obligatory act ordained to be performed by every adult and able

bodied Muslim. It is an important pillar among the five pillars of Islam. Zakat

is a part of the wealth and property that believer must pay annually, to help

the poor of their community. One of the main purposes of Zakat is to keep

those who are wealthy clean, monetarily, from sin. It is a form of Sadaqah

(charity) which is obligatory on believers. Zakat is one of the Five Pillars of

Islam. It refers to alms-giving, which is obligatory for all believers who meet a

minimum wealth requirement (called the nisab).

b. Objective

This course is intended to provide students basic idea of zakat and its

implications as a means of poverty eradication. The main objective of this

course is to equip students with a thorough knowledge of zakat system

c. Learning outcome

Passing out this course the students are expected to learn the total system of

collecting zakat, its distribution etc.

d. Syllabus

Module 1 The meaning of the word zakat (linguistic and terminological) –

history and evolution – poor in ancient civilization – concerns of religion for the

poor – benevolence of Islam in dealing with problem of poverty- feeding the

poor is a requirement of faith - Encouragement to take care of the indigent

Module-2 Exhortation to give and punishment for denying – who is obliged to

pay – Zakatable wealth in terms of amount and their ratio (nisab) – zakat on the

holding of infants and mentally retarded- insolvent debtor –

Module -3 Zakat owed by deceased- property from which zakat is paid- zakat on

gold and silver – zakat on banknotes and notes – zakat on jewelry – zakat on

mahr – on house rent- zakat on trade – how is zakat on trade money to be paid

– zakat on fruits and plants

Module 4 Zakat on buried treasure and precious minerals – zakat on wealth

extracted from the sea- acquiring property through profit or increase (mal al

mustafad) – payment of value instead of item itself- recipient of zakat – the

poor and needy (faqir and miskin) – the person who can work – owner who lacks

self sufficiency – employees of zakat (amilun alaiha) – reconciliation of hearts

(mu’allafatul qulub) – riqab and fee sabeel

Module 5: Significance of the law of inheritance – rights related to tarika

(legacy) causes and conditions of inheritance - impediment to inheritance-

dhawil fardh (fixed shares) –heirs and their shares- residuary (asabah)- types of

residuary - hijb (exclusion) - doctrine of awl and radd - calculating the property

of deceased


1. Fiqh al Zakat by Dr. Yusuf al Qaradawi.

2. Fiqh al Sunnah by Sayyid Sabiq

3. How to Calculate Inheritance: A Simple Approach by Shakil Ahmad Khan

4. Kitab al fara’idh by Abdussamad al Katib Pub. Islamic University al Madina

The End