Islamic Finance - MSc

The module provides an overview of economics and the economic problem. It analyses the Islamic economic system in relation to other economic systems and elaborates on the Islamic worldview and the source of Islamic economics. This module is to provide an understanding of the Islamic methodology in economics. It highlights the philosophical foundation of Islamic economics and its relationship to sustainable development. This module also apply Islamic economics principle to key sustainable development goals such as environmental sustainability, social cohesion and economic development. This module discusses the allocation of resources as applied to consumption and production from Islamic perspectives. 

This module aims to develop an understating Islamic Social Finance. This module is critical in establishing the overall parameters of Islamic Social finance. It seeks to provide a high level overview of the philosophy/ontology underpinning Islamic economics & finance and the key constituent elements such as legal principles, institutions and products.  

This module discusses the legal framework and issues of Islamic banking and finance. It discusses the basic theories underlying Islamic financial institutions. The module will describe the financial products that have been introduced to the market and the detailed Shariah and legal issues with special reference to standards of the Accounting and Auditing Organisation for Islamic Finance Institutions (AAOFI). 

The aim of this module is to provide you with a critical appreciation on the impact of Islamic law on the international legal regulation of business law. This module will offer you the chance to engage in the critical study of Islamic business law so as to demonstrate an advanced application of knowledge, skills and understanding of some of the key aspects of Islamic Business Law as well as promoting the application of the theoretical and practical issues in addition to current debates in this subject area.  An international perspective encourages critical engagement in research, enquiry and investigation so as to develop your ability to offer exploratory and creative interpretations and constructions of knowledge that contribute to a wider and deeper understanding of Islamic business law in an international context. 

The purpose of the Research Project module is to provide a framework for you to undertake a substantial piece of disciplinary-relevant research. It is founded upon Birmingham City Business School’s teaching and learning philosophy which integrates theory and practice.  

The module assumes that students have the basic knowledge of risk management concepts. It is designed to review the risk management process and risk governance in organisations. It will provide the skills to identify and evaluate company’s or portfolio’s exposures to financial and non-financial risk factors in the business environment. It will also provide an opportunity for students to demonstrate a deep understanding and critical awareness of the risk factors around international business environment. Numerical skills in the calculation and evaluation of value-at-risk (VaR) and other credit risks of investment positions or financial derivatives such as forward contracts, swaps and options. The module will also provide the opportunity to acquire the knowledge and skills of risk budgeting, the use of risk-adjusted return on capital, the use of credit derivatives in managing credit risk, Sharpe ratio and other methods of managing market risk. 

The aim of this module is to provide you with an intellectually stimulating and academically rigorous education in Islamic Legal Processes.   The module offers the opportunity for critical evaluative study and the advanced application of the key aspects of Islamic law, its theoretical and practical considerations and an awareness of current debates in the area. An international perspective encourages critical engagement in research, enquiry and investigation in order to develop your ability to offer exploratory and creative interpretations and constructions of knowledge that contribute to a wider and deeper understanding of Islamic law.  

This module provides an overview of the nature and activities of the main groups of financial institutions within the UK.  It aims to offer insight into bank regulation within which financial institutions operate, especially those emanating from financial crisis.  This module focuses on students developing and having a good grasp of recent and ongoing events within financial institutions and its regulation, with the aim of appraising and developing potential changes in the landscape.

Global finance is a constantly evolving subject that deals very much with real world issues such as the causes of exchange rate movements, the challenges for international organizations and the implications macroeconomic linkage between economies. 

The aim of the module is to provide you with a critical understanding of the principles and practice of personal and institutional portfolio management. The characteristics of the main types of investment asset are critically analysed in the context of wider investment portfolios. The emphasis is on investment planning in a generalised, rather than country specific format. The module contributes directly to the Finance pathway, providing a critical aspect of the finance specialism. 

This module aims to provide you with a critical understanding of the core issues relating financial principles and practice of an enterprise.  The module contextualises the complexities of the firm objectives, agency theory and derivation of the separation theorem; it links theory to practice and explores the financial decisions of the firm from a strategic perspective. The emphasis of the module is on the firm’s investment, financial decision making and dividend polices and their impact on firms capital structure and share value. The module builds on some of the finance topics  introduced in  ‘Managerial Finance ’  at the Certificate stage  and  introduces new topics  such as Capital Asset Pricing Model, portfolio  theory; efficient market hypothesis, diversification and an over view of Mergers and Acquisitions. The module contributes directly to the Finance pathway, providing a critical aspect of the finance specialism. 

This module will lay the foundations for robust ethical assessment and a critical understanding of corporate governance.  A group presentation with 50% weighting is the first assessment of the module.  It will give the opportunity to forge a group working dynamic to synthesise an ethical approach to the scenario supplied that can be justified and supported by a critical apparatus based on extant research and scholarly works.