• Nassery Idris

• Nassery Idris

This course provides an insight into the principles and practices of Islamic banking and finance. This form of finance is based on the ethical and legal precepts of Islam, in particular Islamic jurisprudence, which measures financial transactions and economic activities according to principles such as solidarity or social justice. The central ethical commandments include the avoidance of interest (riba), uncertainty and speculation, as well as the obligation to make ethically sustainable investments in socially responsible projects that benefit society as a whole.

The course will introduce basic concepts, instruments and mechanisms of Islamic banking and finance and highlight their differences and similarities to conventional banking. Theoretical principles are explained and practical examples and case studies are discussed to ensure a deep understanding of the application in practice. Furthermore, the course sheds light on the historical development of Islamic banking and finance, from the first attempts in the 1960s to its current global significance. It examines how Islamic banks and financial institutions operate successfully in different parts of the world and which challenges and opportunities arise. In addition, special emphasis will be placed on the business ethical principles of Islam in order to understand the moral and social foundations of these financial practices and their practices in order to recognise their influence on decision-making processes and business strategies.

• Understand the main principles and mechanisms of Islamic banking
• Understand the principles of ethical economics of Islam and their significance for finance
• Know the most important Islamic financial instruments and are able to assess their application
• Have developed an awareness of the differences and similarities between Islamic and conventional banking
• Are able to assess the challenges and opportunities of Islamic banking in the global financial market.

1. Muhammad Ayub (2007): Understanding Islamic Banking and Finance.
2. Maha-Hanaan Balala (2010): Islamic Finance and Law: Theory and Practice in a Globalized World.
3. Craig Nethercott (2012): Islamic Finance: Law and Practice.
4. Zamir Iqbal et al. (Ed.) (2020), Handbook of Ethics of Islamic Economics and Finance.