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KOLEJ PROFESIONAL MARA BANDAR MELAKA SCHEME OF WORK COURSE NAME COURSE CODE CREDIT HOURS CONTACT HOURS

SEMESTER STATUS SESSION : : : : : : : FIQH MUAMALAT 2 ECO 2513 03 03.5 04 CORE JULY - DECEMBER 2011 PN SITI AENSAH BT YUSOF DEPARTMENT OF ACCOUNTING AND QUANTITATIVE

LECTURERS INFORMATION Lecturers : Room 1.0 SYNOPSIS :

This course covers various types of commercial and financial contracts that are applied by Islamic banks. These include the contracts of sale and its varieties such as Murabahah, Bay Bi-thaman Ajil (BBA), Salam. Istisna and currency exchange (Sarf). It also covers the contracts of lease (Ijarah), agency (Wakalah), deposit (Wadiah), loan (Qardh), partnership contracts (Musharakah and Mudharabah), pledge (Rahn), guarantee (Kafalah) and transfer of debt (Hawalah).

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COURSE OBJECTIVES

On completion of this subject, students should be able to: To provides the students with the knowledge of the various Islamic commercial and financial contracts. To provide the students with the knowledge of the prohibited elements in commercial and financial transactions. To develop the students ability to understand Islamic contracts not only in form but in substance and to distinguish them from conventional transactions. To enhance the students skills in relation to the application of Islamic commercial and financial transactions.

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LEARNING OUTCOMES Upon completion of this course the students should have the necessary theoretical background and analytical understanding to: 1. Demonstrate the knowledge of the various Islamic commercial and financial contracts; 2. Demonstrate the ability to identify the prohibited elements in financial and commercial activities; 3. Define various types of transactions for banking and finance; 4. Explain Islamic transactions as alternatives to current business and banking practices.

Transferable Skill :

Communication skills Practical skills Report writing skills Lecture Active learning (group discussion, fact finding, presentation)

Teaching Learning And Assessment

Scheme of work/ECO 2513/JD2011

Strategy:

Tutorials Assignment

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TOTAL STUDENTS LEARNING TIME (SLT) L = Lecture T = Tutorial R = Revision P = Practice O = Others Face to face L 28 T 28 R 4 O 7 Independent Learning Time (ILT) 83 Total Student Learning Time 150

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SUBJECT CONTENTS WEEK 1-2 TOPICS 1.0 Sale Contract 1.1 Definition, 1.2 Constituent elements and conditions 1.3 Invalid Sales 1.4 Defective Sales - Bai al-urbun - Bai al-dayn - Bai al-inah LOD 1 2 2 2 3 3 L 4 T 4 REFFERENCES

1.

2.

Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Transactions. Islamabad: Shariah Academy IIU Islamabad. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications

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2.0 Types of Sales 2.1 Bargain Sale (buyu almusawamah) 2.2 Trust sale (buyu al-amanah) - murabahah, - tawliah, - wadhiah sales 2.3 Bay Bi-thaman Aajil (BBA) 2.4 Deferred Delivery Sale (salam) 2.5 Manufacturing Sale (istisna) 2.6 Currency Exchange (sarf)

2 2 2 2 3 3 3 3

1.

2.

Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Transactions. Islamabad: Shariah Academy IIU Islamabad. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications

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2.

Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Transactions. Islamabad: Shariah Academy IIU Islamabad. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications

4.0 Contract of Agency (Wakalah) 3.1 Definition, 3.2 Constituent elements 3.3 Conditions Wakalah in sale

1 2 2

1.

Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Trans-

Scheme of work/ECO 2513/JD2011

QUIZ 1 (TOPIC 1 & 2) 3.0 The Lease Contract (Ijarah) 3.1 Definition, 1 2 2 3.2 Constituent elements and 2 conditions 3.3 The classification of ijarah 2 3.4 Hire of property (ijarah al `ayn) 2 3.5 Employment and service (ijarah al 2 shakhs)

(wakalah fi al Bayc) 3.4 Wakalah in purchase (wakalah fi al shira)

2.

actions. Islamabad: Shariah Academy IIU Islamabad. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Transactions. Islamabad: Shariah Academy IIU Islamabad. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications

5.0 Deposit (Wadiah) 5.1 Definition, 5.2 Constituent elements and conditions

1 2

1.

2.

6.0 Loan (Qardh) 6.1 Definition, 6.2 Constituent elements and conditions

1 2

1.

2.

Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Transactions. Islamabad: Shariah Academy IIU Islamabad. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications

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TEST 1 (TOPIC 3,4,5 &6) 7.0 Partnership (al-sharikah) 7.1 Types of Partnership 2 4 4 1. Sharikah al-Amlak 2. Sharikah al-Uqud a. Partnership in proper3 ty (sharikah al Amwal) Sharikat al-mufawadha Sharikat al-inan 3 b. Labour partnership (sharikah al abdan/al amal) 3 7.2 Credit Partnership (sharikah al wujuh) QUIZ 2 (Topic 7) 8.0 Silent Partnership mudharabah) 8.1 Definition, 8.2 Constituent elements and conditions (Al1 2 2 2

1.

Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Transactions. Islamabad: Shariah Academy IIU Islamabad. 2. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications

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1.

2.

Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Transactions. Islamabad: Shariah Academy IIU Islamabad. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications

Scheme of work/ECO 2513/JD2011

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9.0 Contract of pledge (Rahn) 9.1 Definition, 9.2 Constituent elements and conditions

1 2

1.

2.

Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Transactions. Islamabad: Shariah Academy IIU Islamabad. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Transactions. Islamabad: Shariah Academy IIU Islamabad. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications Mansuri Muhammad Tahir. 2001. Islamic Law of Contracts and Business Transactions. Islamabad: Shariah Academy IIU Islamabad. Razali Hj Nawawi. 1999. Islamic Law on Commercial Transactions. Kuala Lumpur: CT Publications

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10.0 Contract of Guarantee (Kafalah) 10.1 Definition, 10.2 Constituent elements and conditions

2 1 2

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2.

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11.0 Transfer of Debt (Hawalah) 11.1 Definition, 11.2 Constituent elements and conditions

1 2

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2.

14 15 TOTAL OTHERS: Quizes (2) Written test (2) Presentation (1) Assignment (1) Final Exam Total Total Student Learning Time

TEST 2 (TOPIC 8,9,10 &11) REVISION 32 28 2 2 3 83 150

L1: KNOWLEDGE

L2: APPLICATION

L3: ANALYSIS
Scheme of work/ECO 2513/JD2011

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CONTINUOUS ASSESSMENT 2 Quizzes 10% 2 TEST 20% Assignment 10 % Presentation 10% Final Exam 50% TOTAL 100%