Islamic Financial Management

Course unit titles

Islamic Financial Management

Course unit code

MNK623

Type of course unit (compulsory, optional)

Compulsory

Level of course units (according to

EQF: first cycle Bachelor, second cycle Master)

Master Program of Islamic Economics

Year of study when the course unit is delivered

(if applicable)

First year

Semester/trimester when the course unit is delivered

1st Semester

Number of ECTS credits allocated

3 credits (4.8 ECTS)

Name of lecturer(s)

Dr. Imron Mawardi, SP, M.Si

Prof. Dian Agustia, SE, M.Si, Ak

Dr. Muhammad Nafik HR, SE, M.Si

Bayu Arifianto, SE, MBA, Ph.D

Learning outcomes of the course unit

After finishing the course, students are expected to be able to explain the basic concepts and practices of Islamic financial management and differentiate Islamic and conventional financial management. Students are able to identify, analyze, and apply Islamic financial management techniques to manage company finances that are in accordance with Islamic sharia. Students are also expected to be able to evaluate the effectiveness of Islamic financial and investment management practices in managing the finances of individuals, companies, and non-profit organizations.

Mode of delivery (face-to-face, distance learning)

face-to-face, distance learning

Prerequisites and co-requisites (if applicable)

---

Course content

The course discusses the principles, theories, and practices of Islamic finance in corporate management; starting from corporate objectives and financial management in Islam, the concept of usury and the theory of interest, the difference between time value of money and economic value of time, cost of capital in Islamic finance, real value and market value, investment in Islamic financial markets, risk and return, hedging in Islam, derivative products and so on. This course also teaches an integrated approach to sharia-based financial management in companies by combining concepts and tools from the disciplines of financial management and investment.

Recommended or required

reading and other learning resources/tools

1.  Abbas Mirackhor, 2010, Islamic Finance

2.  Mohamed Obaidullah, 2007, Teaching in Corporate Finance in Islamic Perspective

3.  Hans Visser, 2013, Islamic Finance, Edward Edgar Publishing Limited

4.  Muhammad Abduh, 2018, Islamic Finance

5.  Muhammad, 2014, Manajemen Keuangan Syariah

6.  Muhamad Ayub Khan. 2009. Islamic Finance.

7.  Muhammad Nafik HR. 2007. Pasar Modal dan Investasi Syari’ah. Surabaya, Amanah  Pustaka.

8.  Eugene Brigham. 2009. Prinsip-Prinsip Manajemen Keuangan.

9.  El Diwany, Tarek. 2003. The Problem With Interest (Sistem bunga dan Permasalahannya). Jakarta, Akbar Media Eka Sarana.

10.  Related International Journals.

Planned learning activities and teaching methods

Students conduct discussions, search for, collect and compile existing information to describe a knowledge

Language of instructions

Bahasa, English

Assessment methods and criteria

Students are able to work on and compile theoretical analysis and research in related topics, and are able to explain issues in Islamic finance both in theory and practice.