Conventional & Islamic Finance Law: A Comparative Study
Islamic contracts and transactions offer an alternative to financial paradigm. It is unique that religious doctrines are interpreting rules on commercial and financial behaviors. Such doctrines are becoming popular in the present financial and commercial world. Islamic commercial and financial transactions are striving as an alternative to conventional trading in the Middle East, Gulf States, Australia, Europe and North America.
The current global Islamic financial assets are approximately $1 trillion —poised to reach $4 trillion over the next decade. This course will offer an in-depth review of Islamic contracts and their application within the modern Islamic financial world in the US, Europe and the Middle East.
The analysis will study the legal requirements. It will also offer a practical study of various joint venture agreements, as well as Sukuk and equity funds. The course will offer a comparative study between stocks, bonds and unit trusts in a conventional market versus the principle of purification in units trust gains in Islamic Finance. Islamic financial transactions ensure that the vehicle to grow the financial market is free from “Gharar”, high speculations, a principle forbidden under Islamic Finance law. The Course will offer practical examples of major financial and commercial transactions. These transactions will be analyzed from the Islamic, International and US law perspectives.