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FIN 522 Islamic Law of Business Transactions
Department: MSc Finance
Module Description: The aim of this course is to provide students with adequate knowledge in Islamic law of transactions. The course deals with the concept and importance of Islamic transactions or contracts; formation of contract under Islamic Law, pillars of a contract and their conditions, factors which vitiate consent (such as duress, mistake, fraud and misrepresentation), rights of options (khiyar) and termination of contract. The course also covers prohibitions is Islamic transactions such as riba (usury) gharar (uncertainty) and maysir (gambling). Further, several main Islamic transactions and some current issues in Islamic law of transactions are also discussed.
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