APPROVED SYLLABUS - University of Calicut · APPROVED SYLLABUS FOR BA ISLAMIC FINANCE ... x For...

U.O.No. 9789/2016/Admn Dated, Calicut University.P.O, 12.08.2016

File Ref.No.10106/GA - IV - B1/2014/CU

UNIVERSITY OF CALICUT

AbstractB.A Programme in Islamic Finance with Computer Application under Choice Based Credit SemesterSystem - CCSS - implemented with effect from 2013 admission onwards - after rectification andmodification of the syllabus in the credit, course codes and name of the course- approved - revisedorders issued.

G & A - IV - B

Read:-1.U.O.No. 3956/2013/CU Dated 12.09.2013.2.U.O.No. 10925/2015/Admn Dated,19.10.20153.The mismatches and ambiguities reported in File 43194/EA XII/PB in publishing theresults and issuance of Consolidated Grade Card of B.A.Islamic Finance withComputer Application (CCSS 2013 Admission).4.Orders of the Vice Chancellor in the file. 5.Resolution of the Steering Committee of UG held on 08-08-2016.6. Minutes of the Board of Studies in Islamic Finance held on 11-08-2016.7. Orders of the Vice Chancellor in the file of even No. Dated 12-08-2016.

ORDER

Vide reference read as first above, the syllabus of B.A.Islamic Finance with Computer Applicationwas implemented under Choice Based Semester System (CCSS) with effect from 2013 admissiononwards.

Vide reference read as second above, revised orders were issued implementing the B.A.IslamicFinance with Computer Application after re designating the course codes and titles with effect from2013 admissions.

Vide reference read third above, Pareeksha Bhavan has pointed out some mismatches andambiguities in the syllabus of B.A.Islamic Finance with Computer Application (CCSS) of 2013Admission especially in the credit, course codes and name of the course.

Vide reference read fourth above the Hon'ble Vice Chancellor has ordered to convene an urgentmeeting of the Steering Committee of UG on 8.8.2016 to solve the issues related to the syllabus.

Vide reference read fifth above,the Steering Committee of UG at its meeting held on 08-08-2016has resolved to entrust the Board of Studies in Islamic Finance for rectification and modification ofthe syllabus.

Vide reference read sixth above ,the Board of Studies in Islamic Finance held on 11-08-2016resolved as follows.

1.The Scheme and syllabus implemented with U.O.No.3956/2013/CU dated 12-09-2013 CCSS UG

Anuja Balakrishnan

Deputy Registrar

Forwarded / By Order

Section Officer

is modified with retrospective effect from 2013 admissions.

2.The Board of Studies resolved to approve the modified Scheme and Syllabus of B.A.IslamicFinance with Computer application for 2013 admissions. The Modified syllabus is appended.

3. The Syllabus implemented with U.O.10925/2015 admn dated 19-10-2015 (CCSS UG) with effectfrom 2013 admissions stands cancelled.

Vide reference seventh above, the Vice Chancellor, considering the exigency, exercising thepowers of the Academic Council,has approved the minutes of the Board of Studies in IslamicFinance held on 11-08-2016 and granted permission to implement the resolutions subject toratification of the Academic Council.

Sanction has therefore been accorded to implement the following resolutions of the Board ofStudies in Islamic Finance held on 11-08-2016.

1.The Scheme and syllabus implemented with U.O.No.3956/2013/CU dated 12-09-2013 CCSS UGis modified with retrospective effect from 2013 admissions.

2.The Board of Studies resolved to approve the modified Scheme and Syllabus of B.A.IslamicFinance with Computer Application for 2013 admissions. The Modified syllabus is appended.

3.The Syllabus implemented with U.O.10925/2015 admn dated 19-10-2015 (CCSS UG) with effectfrom 2013 admissions stands cancelled. Orders are issued accordingly.

ToThe Principals of all Colleges offering BA Islamic Finance with Computer Application.Controller of Examinations/ EX- IV/EG Section/DR & AR - BA Branch/SystemAdministrator with a request to upload the syllabus in the University Website/GA I FSection/Library/SF/DF/FC

APPROVED SYLLABUS

FOR

BA ISLAMIC FINANCE

WITH

COMPUTER APPLICATION

Prepared by

BOARD OF STUDIES FOR ISLAMIC STUDIES

(UG & PG)

UNIVERSITY OF CALICUT

BA ISLAMIC FINANCE WITH COMPUTER

APPLICATION

SCHEME AND SYLLABUS

Objectives:

Main objective of the programme is to introduce the emerging area of

Islamic Finance.

To produce skillful hands to meet the requirements of the new generation

banks, insurance companies and security markets.

Understand the fundamental concepts of Islamic economics.

Know the importance of the development of an interest-free economy to

promote socio-economic justice in society.

Describe the underlying principles of Islamic commercial contracts.

Know their applications as investment modes (Musharakah, Mudarabah).

Know their applications as financing modes (Ijarah, Murabaha, Salam,

Istisna'a) and as assessor modes (Wakalah, Kafalah, Hawalah, Jua'lah,

Tawarruq and others).

Explain the key operations of Islamic banks and the scope for co-operation

between conventional and Islamic financial institutions.

Examine the Islamic financial markets, scope and instruments including the

operations of venture capital, investment funds, units trusts and sukuk in

accordance with Islamic principles.

Discuss the governance and transparency issues in Islamic financial

institutions.

Understand the role of supervision and regulation with particular emphasis

on the role of the Religious Supervisory Board, Shari'ah compliant audit,

accounting and taxation issues.

Describe the procedures to convert interest-based banking institutions to

interest-free Islamic banking and the practical steps required for establishing

an Islamic bank.

Explain Takaful and its rationale as an alternative to conventional insurance

and describe basic elements and operating models for undertaking takaful

business and Re-takaful (Reinsurance).

BA in Islamic Finance With Computer Application

Scheme

Programme at : Undergraduate Level

Duration of the Course : 3 years

System to be followed : Semester System

No. of Semesters : Six Semesters

Mode of Evaluation : Continuous Evaluation

(Assignments, Seminars, Projects, Internal

Examinations & End Semester

Examinations.

System of Evaluation : Grading System

Medium of Instruction : English

Details of Common, Core and Complementary Papers in each semester:

Semester No. of Papers

Common Core Complementary Total

I 2 2 1 5

II 2 2 1 5

III 2 2 1 5

IV 2 2 1 5

V - 4 1- Open 5

VI - 4 1-Elective

1- Project 6

Total 8 16 4+3=7 31

BA ISLAMIC FINANCE

WITH COMPUTER APPLICATION

DETAILS OF PAPERWISE CREDITS AND HOURS

FIRST SEMESTER

Paper

Code

Paper Title No. of

Credits

Theory

(Hours)

Practical

(Hours)

Common Papers

A 01 Communication Skills In English 3 4 -

AR 1A

O7 ( 01) Communicative Skills In Arabic 4 4 -

Core Papers

IFC IB

01

Basics of business Management &

Business Ethics 4 6 -

IFC IB

02 General Economics 4 6 -

Complementary Paper

IFC IC

01 Computer Fundamentals 4 5 -

SECONDSEMESTER

Common Papers

A 03 Communicative English 4 4 -

AR 2A

08 ( 02) Functional Arabic

4 4 -

Core Papers

IFC 2B

03

Basics of Islamic Finance 4 6 -

IFC 2B

04

Basics of Financial & Corporate

Accounting 4 6 -

Complementary Paper

IFC 2C

02

Computer Application in Business 4 5 -

THIRD SEMESTER

Common Papers

A 05 Business Communication 4 4

AR 3A

09 (2)

Commercial Arabic - I 4 5

Core Papers

IFC 3B

05

Business Law & Islamic Commercial Law 4 6 -

IFC 3B

06

Indian Financial System 4 5 -

Complementary Paper

IFC 3C

03

Computerized Accounting with Tally 4 5 -

FOURTH SEMESTER

Common Papers

A 07 Advanced Communication Skills in

English 4 4 -

AR 4A

10 (2)

Commercial Arabic - II 4 5

Core Papers

IFC 4B

07

Business Mathematics& Statistics 4 6 -

IFC 4B

08

Cost & Management Accounting 4 5 -

Complementary Paper

IFC 4C

04

E-Commerce 3 5 -

The Complementary papers for BA Islamic Finance With Computer

Application are from following Disciplines

1-Computer application 2- commerce

FIFTH SEMESTER

Core Papers

IFC 5B

09 Islamic Insurance ‘Thakaful’ 4 5 -

IFC 5B

10 Islamic Financial Institutions 4 5 -

IFC 5B

11 Islamic Micro Finance 4 5 -

IFC 5B

12 Financial Management 4 5 -

Open course( TO CHOOSE 1 OUT OF

3,offered by other Programs)

4 3

PROJECT

WORK

Project Work: Designing an Islamic

Finance Product (To be continued in VI th Sem)

0 2

Open course

( TO CHOOSE 1 OUT OF 3,offered by other

Programs)

IFC5

DO1

Study on Fundamentals of Islamic

finance

IFC5

DO2 Islamic commercial law

IFC5

DO3 Islamic Insurance

SIXTH SEMESTER

Core Papers

IFC 6B

13 Risk Management In Islamic Finance 4 4 -

IFC 6 B

14 Operational Islamic Banking 4 4 -

IFC 6B

15 Corporate Governance in Islamic Finance 4 4 -

IFC 6B

16

Security Analysis & Portfolio

Management (Investment Management) 4 4

ELECTIVE PAPERS

( TO CHOOSE 1 OUT OF 3) 2 4

IFC 6 E

01

Arabic for Banking and Insurance

IFC 6 E

02 Marketing Of Islamic Banking Products -

IFC 6

E03

Islamic fund management and security

marketing

-

IFC 6B

17

Project Work: 4 5 -

Designing an Islamic Finance Product

Total 120 --- --

TITLE OF THE COURSE

CORE 01 -IFC 1B 01

BASICS OF BUSINESS MANAGEMENT & BUSINESS ETHICS SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 1

NO. OF CREDITS - 4

NO. OF CONTACT HOURS - (6hrs/wk)

Objectives:

actices for effective

management

COURSE OUTLINE

Module I 15 hours

Nature and scope of Management; evolution of management- Schools of management

thought;.W.Taylor and Henry Fayol; principles of management; management as a

science and an art; management process.

Module II 15 Hours

Functions of management- planning: types of plan; planning process; organizing: span

of control , line and staff functions ; centralization and decentralization; delegation;

staffing: manpower planning, recruitment, selection and placemen;; directing:

principles of direction; coordinating, and controlling.

Module III 30 Hours

Manager Vs leader; leadership and motivation; leadership styles; theories of

Motivation. MBO;Management of performance; Understanding and managing group

processes; characteristics of workgroup, work group behavior and productivity; team

creation and management.

Module 1V 15 Hours

Ethics, culture and values: Importance of culture in organisations; Indian ethos and

value systems; Model of management in the Indian socio political environment; Work

ethos; Indian heritage in production and consumption.

Module V 15 Hours

Business ethics: Relevance of values in Management; Holistic approach for managers in

decision-making; Ethical Management: Role of organisational culture in ethics; structure

of ethics management; Ethics Committee.

Reference Books:

1. Boatwright, John R: Ethics and the Conduct of Business, Pearson Education, New

Delhi.

2. Sathish Modh: Ethical Management: Macmillan.

3 Koontz, H and Wechrick, H: Management, McGraw Hill Inc, New York.

4 Drucker, Peter, F: Management: Tasks, Responsibilities and Practices, Allied

Publishers, New Delhi.

5. L.N Prasad : Principles of management.

6. R.S Davar ; Management Process

7. Rustum & Davan, Principles and practice of Management.

CORE 02 - IFC 1B 02

GENERAL ECONOMICS

SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 1

NO. OF CREDITS - 4

NO. OF CONTACT HOURS - (6 hrs/wk)

Objectives:

1. To enable the students to understand micro and macroeconomic concepts relevant for business decisions.

2. To help the students to understand the Application of economic principles in

Business management

COURSE OUTLINE Module I 10HOURS

Introduction to Micro Economic Theory, Micro Economics and its scope. Wants &

scarcity, Functions of Economic system, Circular flow of economic activity – price

determination and functions of prices-concept of margin, Economic models,

Methodology, Value judgment, Positive and normative analysis

Module II: 15HOURS

Macro Economic Concepts & Models, Micro Economics and Macro Economics - National

Income concepts Potential GNP,Actual GNP - GDP Gap – Green GNP,Macro - Economic

Models – Exogenous, Endogenous, ex-ante, ex-post, Nominal,

real, dependent and independent variables

Module III 8 Hours

Introduction - Definition of Managerial economics - objectives - characteristics - uses –

decision making and forward planning - basic economic tools in management

economics.

Module IV 12 Hours

The concept of demand and elasticity of demand - Demand curve: Individual demand

Curve, Market demand curve, Movement along Vs shifts in the Demand curve, Elasticity

of Demand: Price, Income and cross - Demand estimation and demand forecasting –

concept of revenue: Average Revenue and Total Revenue - Marginal Revenue and

Incremental Revenue.

Module III 15Hours

Production: Fixed and Variable inputs, Production function, Total, Average and Marginal

Product, Law of variable proportions, Linear homogeneous production function -

production isoquants, marginal rate of technical substitution - optimal combination of

resources - return to scale - cost of production - social and private cost of production -

difference between economic and accounting cost - long run and short run cost of

production -Economics and diseconomies of scale.

Module IV 10 Hours

Price and output decisions under different market structures: Price and output

decisions under perfect competition, monopoly and monopolistic competition - pricing

under oligopoly - kinked demand curve - price leadership - pricing, under collusion.

Module V 20 Hours

A. Pricing policies and practices: factors governing prices - objectives of pricing policy –

Role of cost in pricing - demand factor in pricing - consumer psychology and pricing –

pricing methods: cost-plus or full-cost pricing - Target pricing - Marginal cost pricing -

going rate pricing – follow up pricing - Barometric pricing - customary prices. Pricing of

new products: Penetrating pricing - Price skimming.

B. Macro Economics and Business decisions: Phases of Business cycle - Evil effects of

cyclical fluctuations on business firms - Minimising effects of Business cycles. Economic

Forecasting for business: Economic and Business forecasting - uses of economic

forecasts - Methods of economic forecasting - selecting a forecast – evaluating

forecasts.

Reference Books:

1. R.L. Varshney and K.L. Maheswari,Managerial Economics

2. D.N. Dwivedi, Managerial Economics

3. Dr. S. Sankaran, Managerial Economics

4. D M Mithani : Business Economics

5. Seth M L Text Book of Economic Theory

6. K K Dewett : Economnic Theory

7. Petersen & Lewis: Managerial Economics

8. Mote V L peul. S & Gupta G S: Managerial Economics

9. H. Craig Petersen & W. Cris lewis: Managerial Economics

10. Dr. P.N. Reddy and H.R. Appanaiah : Essentials of Business Economics

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CORE 03 - IFC 2B 03 BASIC OF ISLAMIC FINANCE SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 2 NO. OF CREDITS - 4 NO. OF CONTACT HOURS - (6 hrs/week) Objective

To understand basic fundamentals of Islamic finance

For knowing the comparative review of conventional finance and Islamic finance

COURSE OUTLINE

Module – 1 (15 Hours)

Economic Doctrine of Islam - Introduction and Philosophy - Assumptions of

fundamental principles and their implication - Man and divine guidance: the role of

Quran and Sunnah - Islamic Social Order: Values and ethnics-The political context of

Islamic economics - Capitalism, Communism/Socialism and Islamic Economic Systems


Islamic Banking - Concept and Evolution of Conventional Banking - Evolution and

Development of Islamic Banking - Differences and Similarities between Islamic and

Conventional Banking - Primary Characteristics of Islamic Banks - Prohibition of Interest

- Low Consumer Lending - Profit and Loss Sharing - High Real Sector Investing - Dealing

in Halal - The value of money Islamically interpreted - Prohibition of speculation -

Sanctity of contracts - Sharia approved activities - Easy collateral - The Islamilisation of

commercial banking - Islamic banks in western world - Criticism of Islamic banking


Principles and Techniques of Islamic Finance - The concept of interest (Riba) -

Prohibition of Riba (in Islam and Christianity) - Real and notional interest - Fixed and

viable interest - Interest Vs. Profit - Interest as return - Riba al-Nasial and al-Fadi -

Consumption and production loan.

Financing Techniques – Mudaraba – Musharakah – Murabaha - Ijara and

IjarahMuntahiaBittamleek - Salam and Parallel Salam - Istisna’a.

Module -4 (15 Hours)

Islamic Financial Institutions - Study of Zakah - Gahr and Khraj - Takaful

IDB: its role, objectives and performance

Islamic Financial Service Board

The international Association of Islamic Banks

Islamic Research and Training Institute

International Centre for Research in Islamic Economics

Referances

Islamic Finance: Law, Economics, and Practice By Mahmoud A. El-Gamal Cambridge University Press

Understanding Islamic Finance By Muhammad Ayub - WILEY Publisher

CORE 04 - IFC 2B 04

BASICS OF FINANCIAL AND CORPORATE ACCOUNTING SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 2

NO. OF CREDITS - 4


Objectives :

Ø To enable the students to acquire knowledge of the financial accounting principles

and practices

Ø To equip the students with skills for recording various kinds of business transactions

Ø To familiarize the students with the techniques of preparing financial statements

Ø To help the students acquire conceptual knowledge of the fundamentals of the

corporate accounting and the techniques of preparing the financial statements.

COURSE OUTLINE

Module I 20Hours

Introduction - Nature of financial Accounting - scope – objects –limitations –Accounting

concepts and conventions- Financial accounting standards –Object of accounting

standards –Accounting Standard Board of India and Indian Accounting Standards -

Accounting process from recording of business transactions to preparation of Trial

balance (an overview only).

Module II 15 Hours

Conceptual Frame work for preparation and presentation of financial statements -

Capital, Revenue and deferred revenue expenditure – Capital and revenue receipts –

Final accounts of Sole Proprietor , Final account of companies and not –for- profit

organizations (simple problems only).

Module III 20 Hours

Accounting for share capital – Issue, forfeiture and Reissue of forfeited shares -

Redemption of preference shares including buy-back of equity shares - Issue and

Redemption of Debentures.

Module – IV 15 Hours

Bank accounts- General information relating to bookkeeping, ledger section, register

section, slip system of ledger posting, legal requirements affecting final accounts,

specimen form of accounting policies, preparation of profit and loss accounts, Asset

classification, preparation of Balance sheet.

Module- V 20 Hours

Insurance Companies- Commercial and legal back ground of insurance business,

contract of insurance, Book maintained by insurance companies, Explanation of special

terms peculiar to insurance business, Accounts for life insurance business, types of

policies, Annuity business, surrender value, paid up policy, life insurance fund valuation

balance sheet, preparation of final accounts, Revenue accounts, accounts for general

insurance business (as per the provisions of IRDA Act)

(Theory and problems may be in the ratio of 30% and 70%respectively)

Reference Books:

1. M.C., Shukla, T.S. Grewal and S.C. Gupta: Corporate Accounting, S. Chand and Co.,

New Delhi.

2. R.L Gupta, and M Radhaswamy: Corporate Accounting, Sultan Chand and Sons, New

Delhi.

3. Ashok Sehgal and Deepak Sehgal: Advanced Accounting, Volume II, Taxmann, New

Delhi.

4. S.P.Jain and K.L.Narang: Financial Accounting, Kalyani Publilshers, New Delhi.

5. S.N. Maheshwari, and S.K. Maheshwari: Corporate Accounting, Vikas Publication,

New Delhi.

6. S.N. Maheswari: Financial Accounting

7 Shukla, M.C., T.S. Grewal and S.C.Gupta: Advanced Accounts S.Chand&Co., New

Delhi.

8. Naseem Ahmed, Nawab Ali Khan and M.L.Gupta: Fundamentals of Financial

Accounting, Ane Books Pvt. Ltd., New Delhi.

9. Grewal and Gupta: Advanced Accounting

5. Dr. Goyal V.K.., Financial Accounting, Excel Books, New Delhi.

10. Radhaswamy and R.L. Gupta: Advanced Accounting, Sultan Chand & Sons, New

DelhI

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CORE 05 - IFC 3B 05

BUSINESS LAW & ISLAMIC COMMERICAL LAW


NO. OF CREDITS - 4


Objectives

To understand the basics of conventional Business Law

To study the fundamentals of Islamic Commercial Law and to make a

comparative study about two concepts.

COURSE OUTLINE

PART – A

BUSINESS LAW (40 hours)

MODULE – 1 (25 hours)

Commercial Contract- Nature and classification of contracts-offer and acceptance-

consideration- capacity of parties-free consent- coercion- undue influence –

misrepresentation- fraud- mistake- void agreements- discharge of contract- breach of

contract and remedies-contingent contracts-quasi-contracts – contract of Guarantee –

Agency – Mortgage.


Sale of Goods Act, 1930-Contract for sale of goods-Meaning – essentials of a contract of

sale – Conditions and Warranties- caveat emptor-sale by non owners- rules as to

delivery of goods- auction sale -rights of unpaid seller.

PART - B

ISLAMIC COMMERCIAL LAW (50 hours)

MODULE -3 (15 hours)

Fundamentals of Shariah for Islamic Finance Practitioners: Sources of Shariah -

Objectives of Shariah - Operatives legal maxims Definitions of assets in Shariah - Rules

of ownership in Shariah - Essentials of Shariah compliant contracts - Prohibited

elements in Shariah: Riba, Gharar, Haram products and activities.


Nature of Islamic Business/Financial Contracts: Intermediation contract – Mudaraba -

Kitala (Guarantee) – Takaful - Wakala (Agency contract) - Juala - Hawala (Transfer) -

Rahn (Mortgage) - Transaction Contract– Mudaraha - Bay Salam - Bay Mua’ajal – Ijara –

Istisna – Musharaka - Wa’d (Promise) - Muwada or Mua’hida (Agreement)


Legal Practices in the Islamic Financial Industry - Shariah principles influencing

regulatory framework for Islamic finance - Foundations of adequate and efficient

Islamic finance environment .

Focused Shariah Council (FSC) - Strong and harmonized legislation - Legal issues to

consider in structuring Shariah compliant products.

References

Elements of Mercantile Law – N D Kapoor

Mercantile Law – M C Shukla

Islamic Commercial Law By Muhammad Yusuf Saleem – WILEY Publisher

---------------------------------------------------------------------------------------------------------------------

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CORE 06 - IFC 3B 06

INDIAN FINANCIAL SYSTEM SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 3

NO. OF CREDITS - 4

NO. OF CONTACT HOURS -(5hrs/wk)

Objectives: To provide basic knowledge about the structure, organization and working of

financial system in India

COURSE OUTLINE

Module I 10Hours

Financial System: Meaning and Significance-Functions of the financial system- Financial

concepts-Financial Assets- Financial markets- Classification-Financial instruments-

weakness of Indian Financial System.

Module II 10Hours

Money market: Definition-Features-Objectives-Features of a developed money market-

Importance of Money market-Composition of Money market- Money market

Instruments-features of Indian money market-Recent developments.

Module III 10 Hours

Primary, Secondary and Capital Markets: New issue market-meaning-functions-

methods floating new issue- intermediaries in the new issue market-merchants bankers

and their functions- Recent trends in new issue market - Stock Exchanges-Functions.

Module IV 10 Hours

Financial Institutions: commercial banks- development financial institutions-

Nonbanking financial corporation -Mutual Funds, insurance companies – Objectives and

Functions (only a brief outline).

Module –V 05 Hours

Regulatory Institutions – RBI – Role and Functions. The Securities and Exchange Board

of India-objectives-function-powers- SEBI guidelines for primary and secondary market.

Reference Books:

1. Kohn, Meir: Financial Institutions and Markets, Tata McGraw Hill.

2. Bhole L.M: Financial Institutions and Markets, Tata McGraw Hill.

3. Desai, Vasantha: The Indian Financial System, Himalaya Publishing House.

4. Machiraju.R.H: Indian Financial System, Vikas Publishing House.

5. Khan M.Y: Indian Financial System, Tata McGraw Hill.

6. Varshney, P.N., & D K Mittal, D.K.: Indian Financial System, Sulthan Chand & Sons

7. Gordon E. & Natarajan K.: Financial Markets & Services, Himalaya Publishing House.

8. Pathak, V. Bharati: Indian Financial System, Pearso

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CORE 07 - IFC 4B 07

BUSINESS MATHEMATICS AND STATISTICS SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 4

NO. OF CREDITS - 4


Objective:

1-The objective of this course is to familiarize students with the applications of 2-mathematics and statistical techniques in business decisions process.

COURSE OUTLINE PART – A: Business Mathematics

Module – 1 Matrices and Determinants - Definition of a matrix - Types of matrices –

Algebra of matrices - Calculation of values of determinants up to third order - Adjoint of

a matrix - Elementary row operations - Finding inverse of a matrix through adjoint and

elementary row operations - Applications of matrices for solution to simple business

and economic problems.

Module – 2 Calculus - Mathematical functions and their types – linear, quadratic,

polynomial, exponential and logarithmic - Concepts of limit, and continuity of a function

- Concept of differentiation - Rules of differentiation – simple standard forms

(involving one variable) - Applications of differentiation – elasticities of demand and

supply - Maxima and minima of functions (involving second or third order derivatives)

relating to cost and revenue - Integration and its applications to business and economic

situations.

Module -3- Basic Mathematics of Finance: Simple and compound interest - Rates of interest – nominal, effective and continuous – and their inter-relationships - Compounding and discounting of a sum using different types of rates.

PART – B : Business Statistics

Module – 4 -Introduction to statistics - Descriptive Statistics for univariate data - Preparation of frequency distributions including graphic presentations Measures of Central Tendency Arithmetic mean, Geometric mean and Harmonic mean :Properties and applications - Positional Averages : Mode and median and other partition values - quartiles, deciles, and percentiles (including graphic determination) - Measures of Variation: absolute and relative. Range, quartile deviation, mean deviation, standard deviation, and variance Module – 6 -Correlation and Regression Analysis Correlation : Meaning, Correlation using scatter diagram - Karl Pearson's co-efficient of correlation: calculation and properties. Regression Analysis : Linear regression defined - Regression equations and estimation.

Module – 7Index Numbers - Meaning and uses of index numbers. Construction of index numbers: fixed and chain base; univariate and composite. Aggregative and average of relatives – simple and weighted. Tests of adequacy of index numbers. Construction of consumer price indices.

Referances

1. E.T. Dowling, Mathematics for Economics, Schaum’s Outlines Series, McGraw Hill Publishing Co. 2. Mizrahi and Sullivan, Mathematics for Business and Social Sciences, John Wiley and Sons 3. V.K. Kapoor, Essentials of Mathematics for Business and Economics, Sultan Chand ------------------------------------------------------------------------------------------------------------------------------

CORE 08 - IFC 4B 08

COST AND MANAGEMENT ACCOUNTING SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 4

NO. OF CREDITS - 4


Objectives:

To familiarise students with the various concepts and element of cost.

To create cost consciousness among the students.

To enable the students to understand the concept and relevance of management

Accounting

To provide the students an understanding about the use of accounting and costing

data for planning, control and decision taking.

COURSE OUTLINE

Module I 10 Hours

Introduction :- Definition – Meaning and Scope – Objectives – Functions – Merits and

Demerits – Cost Accounting and Financial Accounting-Cost classification – Elements of

cost – cost unitscost centre – Types , Methods and Techniques of Costing – cost sheet

Module II 20 Hours

Materials :- Importance of Material cost control – Purchase procedure – store control –

types of store – stores records – perpetual inventory – ABC analysis – VED analysis – JIT

inventory – stock levels - EOQ issue of materials – FIFO, LIFO, simple and weighed

average methods. Labour :- Importance of Labour Cost Control – Time keeping and

Time Booking – Idle Time – Over Time – Computation of Labour Cost – renumeration

systems and incentive schemes Overheads :- Definition – Overhead allocation –

Apportionment - Re apportionment – Direct distribution – Step Ladder – Reciprocal

service methods – repeated distribution and simultaneous equation methods

Absorption of overheads – methods of absorption – Labour Hour Rate and Machine

Hour Rate

Module III 10Hours

Budgetary Control: Budget and Budgetary Control –Need and Importance – Types of

Budgets – Preparation of Financial Budget- Flexible Budget and Fixed Budget –ZBB –

Programme and Performance Budgets.

Module IV 05 Hours

Management Accounting –Nature and Scope – Difference between Cost Accounting,

Financial Accounting and Management accounting – Recent Trends in Management

Reporting.

Module V 20 Hours

Analysis and Interpretation of financial Statement: - Meaning- Types and Methods of

Financial Analysis – Comparative statements – Trend Analysis – Common size

statements (a general discussion only). Ratio Analysis: - Meaning –Nature – uses and

limitations of Ratios –liquidity, profitability, Turnover ,Solvency, Leverage, Market test

ratios – Constructions of Financial Statements from ratios –Judgment of financial

stability through ratios –(Stress to be given to problem solving and interpretation skills )

Module VI 15 Hours

Funds Flow and Cash Flow Analysis:

a. Funds Flow Statements : Meaning and concept of fund – Current and Non- Current

Accounts – Flow of Fund –Preparation of Funds flow statements – uses and

significance

b. Cash Flow Statement : Difference between fund flows statement and cash flow

statements – Preparation of cash flow statements as per AS3 Norms – Direct and

Indirect methods.(Stress to be given to problems)

Module VII 10Hours

Managerial decision making with the help of C.V.P. Analysis : Marginal Costing- Fixed

Cost, Variable Cost, Contribution, P/V ratio, Break Even Analysis – Algebraic and Graphic

presentation – Decision making: Fixation of Selling Price – Exploring new markets –

make or buy-key factor – Product Mix – Operate or Shutdown (Theory and problems

may be in the ratio of 40% and 60%respectively)

Reference Books:

1. N.K. Prasad: Cost Accounting 2. Nigam & Sharma: Cost Accounting 3. Khanna Pandey & Ahuja: Practical Costing 4. M.L. Agarwal: Cost & Managemt Accounting 5. Jain & Narang: Cost Accounting 6. S.P. Iyengar: Cost Accounting 7. S.N. Maheshwari: Cost & Management Accounting 8. Horngren: Cost Accounting: A Managerial Emphasis 9. M. N. Arora: Cost Accounting 10. Dutta: Cost Accounting 11. Sexana: Management Accounting 12. Made Gowda: Management Accounting 13. Dr. S.N. Goyal and Manmohan: Management Accounting 14. B.S. Raman: Management Accounting

---------------------------------------------------------------------------------------------------

CORE 09 - IFC 5B 09

ISLAMIC INSURANCE “THAKAFUL” SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 5

NO. OF CREDITS - 4


Objective

To know the concepts of conventional and Islamic insurance.

To understand working mechanism of thakaful and its regulatory issu

COURSE OUTLINE

Module – 1 (10 hours)Conventional contract of insurance – kinds of insurance contracts

– basic principles: utmost good faith, insurable interest, indemnity, subrogation,

contribution, causaproxima.Co-insuranceRe-insurance

Module – 2 (25hours) Islamic Insurance – Takaful

Islamic attitude towards risk - Muslim objections to insurance - Permitted forms of

insurance - The nature and structure of Takaful compare with conventional insurance -

The limitations of products within Islamic Insurance - How to remunerate the insurance

operator - The Shariah governance of Takaful undertakings - The risks and controls

within Takaful firms

Module – 3 (20 hours)

Business models of thakaful – business structures and regulatory implications – shari’ah

principle governing thakaful contracts – thakaful management models.


Neo classical and neo corporatist models of Corporate Governance.

Corporate Governance Issues in the Insurance Industry.

Corporate Governance Issues in Thakaful

Reference

Takaful Islamic Insurance: Concepts and Regulatory Issues edited by Simon Archer,

Rifaat Ahmed AddelKarim, Volker Nienhaus – WILEY PUBLISHING.

Islamic Insurance: A Modern Approach to Islamic Banking ByAlyKhorshid

Islamic Insurance: Trends, Opportunities and the Future of Takaful edited by

SohailJaffer – EUROMONEY PUBLISHING.

---------------------------------------------------------------------------------------------------------------------

----------

CORE 10 - IFC 5B 10

ISLAMIC FINANCIAL INSTITUTIONS SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 5

NO. OF CREDITS - 4


Objective

To understand institutional setup for Islamic finance institutions globally.

To know the conversion of interest based baking to Islamic finance

COURSE OUTLINE

Module – 1 (10 hours) -Framework of Islamic financial institutions–overview of Islamic

financial system – Islamic banking operations – the evolution of Islamic banking –

theoretical considerations of Islamic financial system.

Module – 2 (25 hours) -Conversions of Interest Based Banking to Islamic Banking - The

General Approach - Conversion on the Assets Side - Participative Finance - Treasury

Management - Islamic Window - Islamic Branch/Unit - Islamic Subsidiary - Trade

Finance - Documentary Collection and the passing of title - Diagramming the main

Shariah issues for LPOs/LOCs - Diagramming of sales and partnership with LPOs/LOCs -

Diagramming a sales contract and shifting it into a credit instrument - Pure Murabaha

Import LOC - Agency Murabaha LOC

Module – 3 (10 hours)-The Intenational Association of Islamic Banks (IAIB) - The Higher

Riligious Supervisory Board and Dar Al-Maal Al-Islami - Islamic Development Banks and

its Role – Islamic Banks operations in Iran, Pakistan, Malaysia and Turkey.

Module – 4 (25 hours)-Islamic insurane institutions across the world – Islamic fund

management institutions in the international scenario.Islamic banking operations in

India-Islamic stock exchange indices all over the world – Indian Indices – BSE shari’ah

Index – operative mechanism.-Overview of Islamic venture capital institutions in India.

Reference

Directory of Islamic Financial Institutions (RLE: Banking & Finance) edited by John R R

Presley

ROUTLEDGE LIBRARY EDITIONS.

Islamic Financial Institutions of India - Progress, Problems and Prospects - Mohammad

GhousIkhtiyarrudinBagsiraj.

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CORE 11 - IFC 5B 11

ISLAMIC MICRO FINANCE SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 5

NO. OF CREDITS - 4


Objective

To know the role of micro finance in the financial sector.

To understand the micro finance aspects of Islamic banking.

COURSE OUTLINE

Module – 1 (20 hours)-Introduction to Microfinance - Definitions vis-à-vis microfinance

and microcredit - From moneylenders to Microfinance: History, and recent

development.

The Demand for Microfinance Services - Credit: Consumption and Productive – Savings -

Insurance Remittances - Housing Finance - Microleasing, etc. The Supply of

Microfinance Services - Microfinance Institution - NGOs - Bank Linkages -Microfinance

Delivery Models [GREMEEN, ASA, BRAC].

Islamic aspects of micro finance


Concept of Marketing in Microfinance - Application of 5Ps of marketing - Marketing

Ethics in Islamic Banking - Qualities and criteria of IB marketing personnel - Packaging

Islamic Microfinance Products - Success factors in marketing Islamic Microfinance

Products - Uniqueness of Islamic Microfinance Products - Effective ways in marketing of

Islamic Microfinance Products - Building Customer Relations and Care - Effective

communication with Customers - Managing difficult customers


Risk Management in Microfinance - Types of risks faced by MFI - Measuring the

different risk exposures MFI - Developing and implementing strategies for risk

management for MFIs


Transformation of Microfinance from Conventional to Islamic Operations - Defining

transformation and its imperative for MFI - Factors leading to the need for MFIs to

transform - Legal alternatives for transformation - Institutional changes necessitated by

transformation - Changes faced by transforming MFIs

Reference

An Islamic Microfinance Enterprise: The Financial Vehicle That Will Change the Face of

the Islamic World, The Power of Salam Financing by BySaad Al-harran, Dr., Alfred Yong

FohSen, Sri Anne Haji Masri.

An Introduction to Islamic Microfinance" - Dr. M. Obaidulla

CORE 12 - IFC 5B 12

FINANCIAL MANAGEMENT SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 5

NO. OF CREDITS - 4


Objectives:

To familiarize the students with the concepts, tools and practices of financial

management, and,

To learn about the decisions and processes of financial management in a business

firm.

COURSE OUTLINE Module – I 10 Hours

Introduction: Nature, scope and objectives of financial management - Time value of

money and mathematics of Finance - Concept of risk and return.

Module – II 20 Hours

Investment Decision: Capital budgeting process - Estimation of Relevant cash flows–

Payback Period Method, Accounting Rate of Return, Net Present Value, Net Terminal

Value, Internal Rate of Return, Profitability Index, Capital budgeting under Risk-

Certainty Equivalent Approach and Risk Adjusted Discount Rate.

Module – III 20 Hours

Financing Decision: Cost of Capital and Financing Decision-Estimation of components of

cost of capital, Equity capital, Retained earnings, Debt and Preference Capital, Weighted

average cost of Capital and marginal cost of capital, Sources of long term financing-

capital structure, operating and financial leverage, determinants of capital structure.

Module – IV 10Hours

Dividend Decision: Dividend Decision-relevance and irrelevance of dividend decision –

Cash and stock dividends-Dividend policy in practice.

Module – V 15 Hours

Working Capital Management: Meaning and nature of working capital - Determination

of

working capital requirement - A brief overview of Cash management, Inventory

management and Receivables management.


Reference Books:

1.Horne, J.C. Van: “Financial management and policy”,Prentice Hall of India New Delhi.

2.Khan and Jain:“Financial Management text and problems”,Tata McGrawHill New Delhi

3. Pandey, I.M: “Financial Management”, Vikas Publications.

4. Bhalla, V.K.: “Financial Management & Policy,” Anmol Publications, Delhi.

---------------------------------------------------------------------------------------------------------------------

CORE 13 - IFC 6B 13

RISK MANAGEMENT IN ISLAMIC FINANCE


NO. OF CREDITS - 4


Objective

To understand various types of risks in Islamic finance

To study the techniques of risk management in the Islamic finance institutions.

COURSE OUTLINE

Module – 1

Control and Risk Assessment in Islamic Financial Institutions

Basic principles of risk management - The concept of risk in Islam - Types of risks -

Business risks – displaced commercial risk, withdrawal risk, solvency risk - Governance

risk-fiduciary risk, operational risk, transparency risk - Transaction risk – credit risk,

market risk, mark-up risk, PLS risk - Treasury risks-assets and liability management,

liquidity risk, hedging risk - Systemic risks-regulatory risk, business environment risk,

institutional risk, reputational risk.

Module – 2

Mitigating risk through third party guarantees - The Methodology of analyzing risk in IFI

transactions - Risk Management in Microfinance - Types of risks faced by MFIs -

Measuring the different risk exposures MFIs - Developing and implementing strategies

for risk management for MFIs

Module – 3 -Risk Profile: Analysis

Analyzing Risk Profiles in Equity-based instruments - Detecting risk in Mudaraba, Wadia

and Amana products - Comparing Mudaraba-based products with conventional

products - Identifying the risks in Mudaraba structuring - Risk weighing for Mudaraba

structures - Identifying key methods of risk management for Mudaraba - Analyzing Risk

Profiles of Musharaka and Diminishing Musharaka - Detecting risk in Musharaka and

Musharaka Diminishing - Reviewing the structures of Musharaka and Diminishing

Musharaka - Managing the risk in Musharaka and Diminishing - Risk profile of

Musharaka and Diminishing - Analyzing Risk Profiles in Sale-based Instruments

Detecting risk in Murabaha

Module – 4

Identifying the risks - Managing the risks - Analyzing Risk Profiles in Lease-based

Instruments Detecting risk in Ijara - Reviewing alternative Ijara structures - Risk

Profiling of Ijara structure

Disclosure and management of Ijara - Analyzing Risk Profiles in Forward Sale

Instruments - Reviewing alternative Salam and Istisna structures - Risk profiling of Salam

structures - Risk profiling of Istisna structures - Disclosure and management

Reference

Economic enterprises in Islam – Najathulla Siddiqui.

CORE 14 - IFC 6B 04

OPERATIONAL ISLAMIC BANKING SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 6

NO. OF CREDITS - 4


Objectives

To know the basics of conventional banking and Islamic banking.

To overview the pros and cons of conventional and Islamic banking.

COURSE OUTLINE

Module – 1 (20 hours) -Conventional Commercial Banking – working mechanism –

deposit schemes and its functioning – lending schemes – other supporting services

offered by commercial banks – profit making of commercial banking – interest rates for

deposit schemes and lending.

Module – 2 ( 20 hours) -Structure of an Islamic Bank - Structure of an Islamic Bank/Islamic

Banking Model - The Islamic Banking Markets: Funds Mobilization and utilization.

Financial Instruments being used to mobilize funds: Current Account - Saving Account -

Investment Account - Specific purpose investment account - General purpose

investment account

Module – (30 hours) -Financial instruments being used to utilize funds - Equity financing

- Project financing under the principle of Al-Mudaraba (Trustee Financing) -Project

Financing under the principle of al-Musharaka (Equity Joint Venture) - Al-QardAlhassan.

Debt Financing - Trading Financing - Commodity ventures as the basis of Murabaha -

Letter of credit under Al-Wakalah, Al-Mushariaka and Al-Mudarabaha.

Letter of Guaranntee - Financing working capital under Al-Murabaha - Rental (Venture

and Financing (Ijarah) - Equity Lease Purchase - Equity Hire Purchase - Partnership

Venture - Personal Finance - Trade Finance Deal - Company Business Financing -

Finishing work capital under the principle of Al-Murabaha - Mortgage Financing -

Procedure of Assessment of Profit/Loss Sharing.

Module – 4 (20 hours) -Balance Sheet and Income Statement Analysis of Islamic Banks

and Other Accounting Issues - Document and Documentation for Islamic Banks.

Challenges for Islamic Banks Conversion of conventional banking to Islamic Banking.

References Islamic Banking by Mervyn Lewis, Latifa M. Algaoud Islamic Banking: How to Manage Risk and Improve Profitability By Amr Mohamed El

Tiby Ahmed – WILEY Publishing.

Banking theory and practice – K C Shekhar

Banking theory: Law and Practice – Rajesh, McGraw Hill Publisher------------------------------

CORE15 - IFC 6B 15

CORPORATE GOVERNANCE IN ISLAMIC FINANCE


NO. OF CREDITS - 4


Objective

To understand the importance of corporate governance in different kinds of

business organization.

To describe the ethical elements of Islamic Finance

COURSE OUTLINE Module – 1 (15 hours) -Corporate Governance– concepts – scope – the significances of constitutions for corporate entities - difference between governance and management – corporate governance in sole trading concern, partnership and companies.

Module – 2 (20 hours) -International Corporate Governance Guidelines [including SEC guidelines] and their applicability to Islamic Banks - Corporate Governance at IFIs - Corporate Governance In Islam - Corporate Governance processes and policies in Islamic Banks - Guiding principles for Corporate Governance at Islamic Banks.

Module – 3 (20 hours) -The Shariah Supervisory Board - Fit and proper requirements and the selection process - Internal Shariah Advisor/Officer - Roles and Responsibilities - Monitoring, reporting and Audit structures Assessment of effectiveness - Separation of parties (Shareholders Vs. Management)

Module – 4 (20 hours) -Conventional Banking Regulation and Supervision requirement [ BASEL, BOFIA,etc Principles and Guidelines] - Microfinance Legal Frameworks, Regulations and Policy - How the overall regulatory framework affects the integrations of microfinance institutions into the financial system - Banking regulation and supervisions in an Islamic framework - Information disclosure

The Role, Functions and Challenges Of Central Banks In Regulation And Supervision Of Islamic Banks.Comparative Study of Islamic Banking And Islamic Banking Regulations And Supervisions in U.K ,Malaysia - Shariah Advisory Board quality of Islamic Banking Supervision and Regulation.

Reference

Corporate Governance: Principles, Policies and PracticesBy Bob Tricker – Oxford Publications

An Islamic Perspective on GovernanceByZafarIqbal, ZafarIqbal, Mervyn L

CORE 16 - IFC 6B 16

SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT

(Investment Management)


NO. OF CREDITS - 4

NO. OF CONTACT HOURS (4 hrs/wk)

Objectives:

To familiarize the students with the world of investments.

To provide a theoretical framework for the analysis and valuation of investments.

COURSE OUTLINE

Module I 18 Hours

The Investment Environment: The investment decision process - Types of Investments

Commodities, Real Estate and Financial Assets - security market indices Sources of

financial information - Concept of return and risk.

Module II 10 Hours

Fixed Income Securities: Bond features - types of bonds - estimating bond yields - types

of bond risks - default risk and credit rating –Bond valuation

Module III 20 Hours

Approaches to Security Analysis: Fundamental Analysis - Technical Analysis and Efficient

Market Hypothesis - dividend capitalisation models - price earnings multiple approach

to equity valuation.

Module IV 17 Hours

Portfolio Analysis and Financial Derivatives: Portfolio and Diversification -Portfolio Risk

and Return – Introduction to Financial Derivatives - Financial Derivatives Markets in

India.

Module V 10 Hours

Investor Protection: SEBI & role of stock exchanges in investor protection -investor

grievances and their redressal system - insider trading - investors’ awareness and

activism.


Reference Books:

1. Donald E. Fisher and Ronald J. Jordan: “Securities Analysis and Portfolio

Management”, Prentice Hall, New Delhi.

2. S. Kevin: Security analysis and portfolio Managmennt

3. Sourain, Harry: “Investment Management”, Prentice Hall of India.

4. Francis and Archer: “Portfolio Management”, Prentice Hall of India.

5. Gupta L.C.: Stock Exchange Trading in India; Society for Capital Market Research

and Development, Delhi.

CORE 17 IFC 6B 17 - PROJECT WORK :

DESIGNING AN ISLAMIC FINANCE PRODUCT SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 6

NO. OF CREDITS - 4

Project Work

During the sixth semester every student shall do a project. The student

may choose any topic from the subjects he/she has studied.

The candidate shall prepare and submit a project report to the

Department.

The report shall be printed and spiral bound with not less than 50 A4 size

pages.

The project report should be submitted to the Head of the Department one

month before the last working day of the sixth semester.

Project work shall have the following stages

o Project proposal presentation

o Field work and data analysis

o Report writing

o Draft project report presentation

o Final project report submission

The project can be done individually.

The candidate shall prepare at least two copies of the report: one copy for

submission to the Department and one copy for the student which he/she

has to bring with him/her at the time of viva voce. More copies may be

prepared If the organization or the guide or both ask for one copy each.

Duration of project work

The duration for project work is 3 weeks.

A certificate showing the duration of the project work shall be obtained

from the supervising teacher or from the organization for which the

project work was done and it shall be included in the project report.

Structure of the report

Title page

Certificate from the organization (for having done the project work)

Certificate from guide

Acknowledgements

Contents

Chapter I: Introduction (Organization profile, Research problem,

Objectives of the study, Research methodology etc.)

Chapter II: Review of literature

Chapters III and IV: Data Analysis (2 or 3 chapters)

Chapter V: Summary, Findings and Recommendations.

Appendix: (Questionnaire, specimen copies of forms, other exhibits etc.)

Bibliography (books, journal articles etc. used for the project work).

Evaluation of project report

The project report shall be subject to internal and external evaluation. The

internal evaluation shall be carried out by the supervising teacher and

external evaluation by the examiners appointed by the University inclusive

of Viva-voce examination.

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ELECTIVE PAPERS

(TO BE CHOOSING ONE OUT OF THREE)

TITLE OF THE COURSE

IFC 6 E 01 ARABIC FOR BANKING AND INSURANCE


NO. OF CREDITS - 2


COURSE OUTLINE

Unit 1

1-Chapter -5 ,Business arabic (page 187 )

2-Chapter-6 Business Arabic (Page 207)

Unit 2

3- Chapter -6 Money markets and commercial translation (page 230 -264)

4- Chapter -7 Business Arabic (Page-261) First titles and Balence sheets

Unit 3

5-Chapter 9 Business Arabic ( first half of the total nos .only –Page -301)

Prescribed Text Book s

1- A hand book of Commercial Arabic written-new edition –Dr KP

Aboobacker

2- Bussiness Arabic-By- Dr. AI Rahmathullah.

------------------------------------------------------------------------------------------------------------------------------------------------------------

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ELECTIVE PAPER-ii

IFC 6E 02

MARKETING OF ISLAMIC BANKING PRODUCTS SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 6

NO. OF CREDITS - 2


Objective

To understand about the marketing activities in Islamic banking.

To know the role of marketing in the international Islamic financial institutions

to expand its operations.

COURSE OUTLINE


Concept of Marketing

Application of 5Ps of marketing

Product, Price, Promotion, Place and People

Marketing Ethics n Islamic Banking

Qualities and criteria of IB marketing personnel


Packaging Islamic Banking Products

Broad categories of banking activities

Customers expectation


Success factors in marketing Islamic Banking Products

oUniqueness of Islamic Banking Products

Effective ways in marketing of Islamic Banking Products

The do’s and dont’s in marketing


Building Customer Relations and Care

Recognizing the importance of the customer

Opportunities and responsibilities when facing customers

Effective communication with Customers

Personalizing customer contact

Building businesses through customer contacts

Managing difficult customers

Reference

Economic enterprises in Islam – Najathulla Siddiqui.

Studies in Islamic Economics – Kurshid Ahammed.

ELECTIVE PAPER-iii -IFC 6 E 03

ISLAMIC FUND MANAGEMENT AND SECURITRY MARKETING


NO. OF CREDITS - 2


Objective

To overview the concepts of fund management in Islamic Finance.

To study the different kinds of securities in the Islamic finance.

COURSE OUTLINE

Module – 1 -Islamic Asset and Fund Management - Islamic Perspective of Wealth -

Purpose of Investment in Islam - Prohibited Industries and their Problems - The Islamic

Stock selection process and the role of the Shariah Supervision Board - The Crisis in

Global Wealth Management, US and Asia experience

Module – 2-Islamic Capital Market Instruments - The hierarchy of capital markets:

where do Islamic products - Islamic position in conventional stock market - Islamic

investment purification principles.

Commodity Murabaha - Islamic leasing - Islamic Equity Market Funds - Real Estate

Investment Trusts - Islamic Hedge Funds - Islamic Rating Systems - Islamic Market

Indices - Dow Jones Islamic Market index (DJIM) - FTSE Global Islamic Index Series -

Factors affecting innovation in Islamic Banking and Capital Market

Module – 3 -Islamic Securitization - Securitization for conventional banking products -

Securitization for Islamic Banking Products - The driving forces behind securitization -

What are the Shariah requirements for securitization?

Module – 4 -Islamic Bonds (Sukuk) - Sukuk basis - How have Sukuk evolved - How do

Sukuk differ from conventional bonds - AAOIFI Sukuk standards - Alternative Sukuk

structure - Sukuk and the private sector - Rating Sukuk - Risks associated with Sukuk

Reference

1. Chandra, P: “Financial Management- theory and practice”, Tata Mc Graw Hill.

2. Singh, J.K.: “Financial Management- text and Problems”, Dhanpat Rai and Company,

Delhi.

COP 02 –IFC 2C 02

Computer Application in Business SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 2

NO. OF CREDITS - 4

NO. OF CONTACT HOURS - 4 hrs/wk)

Objective:

To enable the students to acquire basic knowledge in the various office automation tools and its

applications in the various areas of business.

COURSE OUTLINE

Module 1: 10 Hrs Computer – definition - Computer users - Computer for individual users - Computer for

organizations - Computer in society –Components of Computer - input unit - output unit - storage

unit CPU- ALU - control unit - registers - computer hardware – System software - Application

software.

Module II (Theory 15 hours and practical 10 hours)

Word Basics : Starting word - Creating a new document - Opening preexisting document - The

parts of a word window - Typing text - Selecting text - Deleting text - Undo – Redo – Repeat -

Inserting text -Replacing text - Formatting text - Cut - Copy - Paste – Formatting Text and

Documents - Auto format -Line spacing – Margins - Borders and Shading.

Headers and Footers : Definition - creating basic headers and footers –Tables - Creating table –

adding changing Deleting rows - Inserting changing Deleting column - Graphics - Importing

graphics – Clipart - Insert picture - Clip Art Gallery - drawing objects - text in drawing.

Templates: Template types - using templates - exploring templates - modifying templates.

Macros: Macro - Record in macros - editing macros - running a macro.

Mail Merge: Mail Merge concept - Main document - data sources - merging data source and main

document - Overview of word menu options - word basic tool bar.

Module III: (Theory 15 hours and practical 10 hours) MS EXCEL Electronic Spreadsheet - Structure of spreadsheet and its applications to accounting,

finance, and marketing functions of business - Creating a dynamic / sensitive worksheet -

Concept of absolute and relative cell reference - Using built in functions - Goal seeking and

solver tools - Using graphics and formatting of worksheet - Sharing data with other desktop

applications - Strategies of creating error- free worksheet.

Module III: (Theory 10 hours and practical 10 hours)

Power Point : Basics – Terminology - Getting started - Views - Creating Presentations - Using

auto

content wizard - Using blank presentation option - Using design template option - Adding slides –

Deleting a slide - Importing Images from the outside world - Drawing in power point - Transition

and build effects - Deleting a slide - Numbering a slide - Saving presentation - Closing

resentation - Printing presentation elements.

Module IV: (Theory 10 hours) Internet concept – History - Development in India - Technological foundation of internet –

Distributed computing - Client – server computing - internet protocol suite - Application of

distributed computing - Client server computing - Internet protocol suite in the internet

environment - Domain Name System (DNS) - Generic Top Level Domain (g

TLD) - Country code Top Level Domain (cc TLD) – Indian – Allocation of second level

domains - IP addresses - Internet Protocol - Applications of internet in business, Education,

Governance, etc.

Books for Reference 1. Ron Mansfield, Working in Microsoft office, Tata McGraw Hill (2008)

2. Ed Bott, woody Leonhard, using Microsoft Office 2007, Pearson Education (2007)

3. PCSoftware Made Simple-R.K.Taxali

4. Office 2000 complete reference - Stephen L.Nelson

COP 03 - IFC 3C 03

COMPUTERISED ACCOUNTING WITH TALLY SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 3

NO. OF CREDITS - 4


Objective:

To enable the students to acquire basic knowledge in the computerised accounting

systems and its applications in the area of business.

COURSE OUTLINE

Module I 10hours)

Introduction to accounting - accounting basis and terms - branches of accounting -

mode of accounting - manual accounting - computerized accounting fundamentals.

Module II (10 Theory hours and 10 practical hours)

Accounting with Tally - Introduction to Tally - tally interface - f11 features-f12

configuration - company creation - accounting groups - accounting ledgers - accounting

vouchers – vouchers entry.

Module III (10 Theory hours and 10 practical hours )

Inventory management with tally - stock groups - stock items - stock category - unit of

measures– godown inventory vouchers (Pure inventory and inventory vouchers)

Module IV (15 theory hours and 5 practical hours )

Accounting and inventory reports - Trading, Profit and loss A/c - balance sheet - ledgers

cost centre and budget reports - cash book and bank book - inventory reports - Decision

supporting tools - Ratio analysis - cash flows - fund flow-budgeting system - printing of

reports – voucher and bill printing etc.

Module V (15 theory hours and 5 practical hours)

Technology advantage of Tally - Tally audit - Tally vault-back up, restore, merge and split

o fdatabase - ODBC interface - export and import of data - web enabled reporting -

online support of software.

Reference Books

1.A.K. Nadhani and K.K. Nadhani – Implementing Tally 6.3, I/e BPB Publications; New

Delhi

2. Namrata Agarwal – Tally 6.3; 2004 edition; Dream Tech; New Delhi

3. Tally, Sridharan, Narmadha publications, May 2

COP 04 - IFC 4C 04

E – COMMERCE SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 4

NO. OF CREDITS - 3

NO. OF CONTACT HOURS -(5 hrs/wk)

Objectives:

To enable the student to understand basics of E-Commerce

To gain a practical orientation to E-Commerce and E- Business management

COURSE OUTLINE

Module I – Introduction to E- commerce : Meaning and concept – E-

commerce v/s Traditional Commerce- E- Business & E- Commerce – History

of E- Commerce – EDI – Importance , features & benefits of E- Commerce –

Impacts, Challenges & Limitations of Ecommerce – Supply chain

management & E – Commerce – E – Commerce infrastructure.

10 hours

Module II – Business models of E – Commerce: Business to Business –

Business to customers – customers to customers - Business to Government

– Business to employee – E – Commerce strategy – Influencing factors of

successful E- Commerce.

10 hours

Module III – Marketing strategies & E – Commerce : Website –

components of website – Concept & Designing website for E- Commerce –

Corporate Website – Portal – Search Engine – Internet Advertising –

Emergence of the internet as a competitive advertising media- Models of

internet advertising – Weakness in Internet advertising – Mobile

Commerce.

10 hours

Module IV – Electronic Payment system : Introduction – Online payment

systems – prepaid

and postpaid payment systems – e- cash, e- cheque, Smart Card, Credit

Card , Debit Card,

Electronic purse – Security issues on electronic payment system – Solutions

to security issues – Biometrics – Types of biometrics.

15 hours

Module V – Legal and ethical issues in E- Commerce: Security issues in E-

Commerce-

Regulatory frame work of E- commerce.

05 hours

Reference Books:

1. Turban, Efraim, David King et. el.: Electronic Commerce: A Managerial

Perspective,

Pearson Education Asia, Delhi.

2. Kalakota, Ravi: Frontiers of Electronic Commerce, Addison - Wesley,

Delhi.

3. Rayport, Jeffrey F and Jaworksi, Bernard J: Introduction to E-Commerce,

Tata McGraw

Hill, New Delhi.

4. Smantha Shurety,: E-Business with Net Commerce, Addison - Wesley,

Singapore.

5. Rich, Jason R: Starting an E-Commerce Business, IDG Books, Delhi.

6. Laudon, Kenneth C and Carol Guercio Traver : E-Commerce business.

Technology.

Society, Pearson Education, Delhi.

7. Stamper David A, and Thomas L.Case: Business Data Communications,

Pearson

Education, New Delhi.

8. Willam Stallings: Business Data Communications, Pearson Education,

New Delhi

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COMMON PAPERS

COM -01 COMMUNICATION SKILLS IN ENGLISH


NO. OF CREDITS 3

NO. OF CONTACT HOURS- (4 hrs/wk)

COURSE OUTLINE

MODULE – I: PHONETICS BASICS

Received Pronunciation – Sounds: Vowels/Diphthongs, Consonants – Syllables –

Word stress – Transcription of words- Weak forms – Intonation

MODULE – II: ENGLISH LANGUAGE

Parts of speech – Articles

Modals

Sentence types – Subject-verb concord

Tenses – Voice – Reported speech

Clauses – Tag questions

Punctuation

Common errors

Jumbled sentences

MODULE III: VOCABULARY

Word formation – Synonyms, Antonyms – Homonyms, Homophones

Words often confused – One word substitution – Phrasal verbs –

Idiomatic expressions - Eponyms

MODULE IV:

(A) Communication

Communication, an overview - Definition & Process – Features –

Importance

Forms – Barriers – Remedies – Non verbal communication

Body language – Paralinguistic features – Proxemics/Space distance – Haptics

(B) Telephonic skills – Group Discussion – Facing interviews

READING LIST

1. Study Listening: A Course in Listening to Lectures and Note-taking (Book with Audio CD)

Tony Lynch Cambridge University Press (2008)

2 Study Speaking:

A Course in Spoken English for Academic Purposes (Book with Audio CD)

Kenneth Anderson, Joan Maclean and Tony Lynch Cambridge University Press, 2008

3 Spoken English Part I & II A Foundation Course for Speakers of Malayalam Kamlesh

Sadanand, & Susheela Punitha Orient Longman Pvt Ltd (2008)

4 Oxford Guide to Effective Writing and Speaking John Seely New Delhi, OUP, 2001

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Common Paper –ARABIC

COM 02 AR IA 07 (1)- COMMUNICATIVE SKILLS IN ARABIC


NO. OF CREDITS - 4


Aims and Objectives

• To teach the students the basics of interpersonal interaction in Arabic

• To train the students to communicate in Arabic in selected situations

COURSE OUTLINE

Module 1. Interpersonal Interaction

• Knowing each other

• The traveler

• The picture

• The lunch

• Accommodation

Module 2. Situational Conversation I

• The Family

• Are you sure?

• I am a student

• The street is crowded

• What is your opinion?

Module 3. Situations Conversation II

• What is your Hobby?

• How to make friends?

• Why were you absent?

• What do you prefer?

• I wake up early

Module 4. General Conversation

• When do you go to the College?

• How do you feel now?

• What's the reason?

• A sad news

• Now I am a grown up man

(Note: Each chapter followed by additional exercises for

practice)

Prescribed Text Book : Muhadasath Youmiyya

Edited by : Dr. Mohammed Haneefa. P

Books for reference :1- Al Arabiyya Linnashieen, Part 1 & 2

2- Al Arabiyya lil hayath,part 1 & 2

COM 03 A 03 COMMUNICATIVE ENGLISH SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT -- 2

NO. OF CREDITS - 4


COURSE OUTLINE MODULE I

BASICS OF COMMUNICATION

Significance of Business Communication

Overcoming Barriers to Communication

Strategic Relevance of Communication

MODULE II

ORAL COMMUNICATION SKILLS

Essentials of Oral Communication Skills

Delivering a Persuasive Speech

Successful Meeting Skills

Listening Skills

MODULE III

WRITTEN COMMUNICATION SKILLS

Understanding Body Language

Para-linguistics or Para Language

MODULE IV

NON-VERBAL COMMUNICATION

Writing Skills

Writing Style

Writing Business Letters

Electronic Communication

MODULE V BUSINESS APPLICATIONS

Writing Business Reports

Writing Applicant Profile or Resume

Interviewing Skills

Negotiation Skills

Cross Cultural Communication Skills

READING LIST

1. Effective Technical Communication, M. Ashraf Rizvi, Tata Mc. Graw-Hill Publishing

Company Ltd.

2. Academic Writing- A Practical guide for students by Stephen Bailey, Rontledge Falmer,

London & New York, 2004.

3. English Grammar, composition and Effective Business Communication M A Pink & S E

Thomas

4. A Guide to Business Correspondence and Communication skills ,A N Kapoor.

5. Commercial Correspondence and office management, R S N Pillai & Bagavath

COM 04 - AR 2A 08 (2) FUNCTIONAL ARABIC -


NO. OF CREDITS - 4


COURSE OUTLINE

Unit 1 –The Hotel

Lesson 1 To the hotel

Lesson 2 In the hotel

Lesson 3 Before leaving the hotel

Unit 2 The market

Lesson 4 Going to the market

Lesson 5 At Textile shop

Lesson 6 At Central Market

Unit 3 At Hospital

Lesson 10 In doctors clinic

Lesson 11 In medical lab section

Lesson 12 In Ex-ray section

Unit 4 The traffic and road enquiry

Lesson 13 Between traffic police and a Taxi driver

Lesson 14 Road Enquiry

Lesson 15 Enquiry in traffic directorate

Prescribed Text Book : Al Arabiyya lil Hayat -Book -2

Edited by Dr. K.M. Mohamed

COM 05 A 05 BUSINESS COMMUNICATION SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 3

NO. OF CREDITS - 4


Objectives:

. To develop communication skills among students

. To understand Business Communication Process.

COURSE OUTLINE Module I 15Hours

Introduction-importance of communication – basic form of communication – principles

of effective communication – self development and communication – development of

positive personal attitudes – barriers to communication

Module II 10Hours

Communication through letters – essential qualities of a business letter – appearance –

layout – structure – body and kinds of business letters.

Module III 20Hours

Personal correspondence- application for appointment – resume – reference –

appointment letter – letters of introduction – recommendations – resignation letters –

show cause – charge sheet dismissal letter.

Module IV 15Hours

Purchase and sale correspondence – enquiries – offers and quotation – tender – order –

execution and cancellation of order – complaints, claim and adjustment – replies to

complaints – follow up letters – sales letters – circulars – status enquiries – collection

letters

Module V 15 Hours

Corporate communication – formal and informal communication network – grapevine –

business communication policies – mock interviews – seminars – listening exercise –

presentation – presentation skills – oral presentation – sales presentation – training

presentation – motivation speeches – report writing – report preparation – visual aids –

MS-PowerPoint.

Module VI 15Hours

Learning Business information – news of reading techniques – listening to lectures by

individual and team faculty, and not taking – student seminars – individual and team

presentation – filed studies, case studies and project reports. Posing problem for

investigation, data location, primary and secondary sources, use of cross tabulation,

tabular presentation, diagrammatic representation of data, deducting inferences,

reporting results and suggesting executive actions

COM 06 AR 03 A 09 (2) -COMMERCIAL ARABIC-I


NO. OF CREDITS - 4


COURSE OUTLINE

Unit 1

1- Letter writing (Page 15-24)

2- Correspondence (Page 26-80,ten letters)

Unit 2

3- Job Applications (Page 82-95, 6 applications)

4- Advertisements and Notifications

(Page 102-112, Ten advertisements)

Unit 3

5- Tenders and quotations (Page 132-147, Ten examples)

6- Employment abroad (Page 150-157, 5 examples)

Priscribed Text Book : A hand book of Commercial Arabic -New

edition

by Dr. K.P. Aboobacker

Books for reff;

1-Technical, Business, Legal and Journal Arabic-

Dr.TP Mohammed Abdul Rasheed/Alhudha Bookstall-Calicut

2- The Commcrcial Arabic

Prof:VP Abdul Hameed /Alhuda Bookstall , Calicut

COM 07 A 07 - ADVANCED COMMUNICATION SKILLS IN

ENGLISH SEMESTER IN WHICH THE COURSE IS TO BE TAUGHT - 4

NO. OF CREDITS - 4


COURSE OUTLINE MODULE1 - Communication - An Overview

Communication : Its Meaning And Nature

Importance And Purpose Of Communication

Channels Of Communication : Formal Vs. Informal

Means/Media Of Communication : Importance Of Verbalization Or Use Of Words

Verbal Communication : Oral

Telephone Conversation

Verbal Communication : Written

Non-Verbal Communication

Kinesics Or Body Language

Para language Or Paralinguistic

Culture And Communication

Emotional Intelligence

Conflict And Negotiation

Group Decision-Making

Presentations And Interviews

MODULE 2-Advertising and Public Relations

Communication And Customer Care/Customer Relations

Business Etiquette

Advertising

Communication For Public Relations

Corporate Communication

Ethics And Values In Business Communication

Barriers And Breakdowns In Communication

Guidelines For Effective Communication

MODULE 3 - English for Effective Business Communication

Business English Or English For Business?

Tips for Clear Writing

Tips for Persuasive Writing

Avoiding Substandard Writing

Ways to Enrich Vocabulary

American English and Some Recent Additions to English Vocabulary

Some Common Idioms and Phrases

Abbreviations and Acronyms

READING LIST

1. Eyre, E.C. (1985) Effective Communication Made Simple, Rupa and Co.Calcutta

2.Balan,K.R. and Rayudu C.S. (1996) Effective Communication, Beacon New Delhi.

3.Ghanekar,A(1996) Communication Skills for Effective Management. Everest Publishing

House, Pun

COM 08 AR 04 A 10 (2) COMMERCIL ARABIC - II


NO. OF CREDITS - 4

NO. OF CONTACT HOURS --(5hrs/wk)

COURSE OUTLINE

Unit 1

1- Certificates and documents (Page 174 – 191, Ten certificates)

2- Glossary of idioms and expressions (Page 276 – 282)

I. Banks and accounts (Page 294 – 296)

Unit -II

3-correspondence (page-305-313)

4-journalistic style and expression (page-314-319)

Priscribed Text Book : A hand book of Commercial Arabic

by Dr. K.P. Aboobacker

Books for reff;

1-Technical, Business, Legal and Journal Arabic-

Dr.TP Mohammed Abdul Rasheed/Alhudha bookstall-Calicut

2- The Commercial Arabic

Prof:VP Abdul Hameed/Alhuda Book Stall Calic

OPEN COURSES (for Non-ISLAMIC FINANCE Students -TO CHOOSE ONE OUT OF THREE )

Semester V

1- IFC 5 D01

A STUDY ON FANDAMENTALS OF ISLAMIC FINANCE


NO. OF CREDITS - 4

Objective

To understand basic fundamentals of Islamic finance

For knowing the comparative review of conventional finance and Islamic finance

COURSE OUTLINE

Module – 1

Economic Doctrine of Islam - Introduction and Philosophy - Assumptions of

fundamental principles and their implication - Man and divine guidance: the role of

Quran and Sunnah - Islamic Social Order: Values and ethnics-The political context of

Islamic economics - Capitalism, Communism/Socialism and Islamic Economic Systems

Module – 2

Islamic Banking - Concept and Evolution of Conventional Banking - Evolution and

Development of Islamic Banking - Differences and Similarities between Islamic and

Conventional Banking - Primary Characteristics of Islamic Banks - Prohibition of Interest

- Low Consumer Lending - Profit and Loss Sharing - High Real Sector Investing - Dealing

in Halal - The value of money Islamically interpreted - Prohibition of speculation -

Sanctity of contracts - Sharia approved activities - Easy collateral - The Islamilisation of

commercial banking - Islamic banks in western world - Criticism of Islamic banking

Module –

Principles and Techniques of Islamic Finance - The concept of interest (Riba) -

Prohibition of Riba (in Islam and Christianity) - Real and notional interest - Fixed and

viable interest - Interest Vs. Profit - Interest as return - Riba al-Nasial and al-Fadi -

Consumption and production loan.

Financing Techniques – Mudaraba – Musharakah – Murabaha - Ijara and

IjarahMuntahiaBittamleek - Salam and Parallel Salam - Istisna’a.

Referances

Islamic Finance: Law, Economics, and Practice By Mahmoud A. El-Gamal Cambridge University Press

Understanding Islamic Finance By Muhammad Ayub - WILEY Publishers

II- IFC 5 D02 - ISLAMIC COMMERICAL LAW


NO. OF CREDITS - 2

Objectives

To understand the basics of conventional Business Law

To study the fundamentals of Islamic Commercial Law and to make a comparative study

about two concepts.

MODULE -1

Fundamentals of Shariah for Islamic Finance Practitioners: Sources of Shariah -

Objectives of Shariah - Operatives legal maxims Definitions of assets in Shariah - Rules

of ownership in Shariah - Essentials of Shariah compliant contracts - Prohibited

elements in Shariah: Riba, Gharar, Haram products and activities.

MODULE –2

Nature of Islamic Business/Financial Contracts: Intermediation contract – Mudaraba -

Kitala (Guarantee) – Takaful - Wakala (Agency contract) - Juala - Hawala (Transfer) -

Rahn (Mortgage) - Transaction Contract– Mudaraha - Bay Salam - Bay Mua’ajal – Ijara –

Istisna – Musharaka - Wa’d (Promise) - Muwada or Mua’hida (Agreement)

MODULE –3

Legal Practices in the Islamic Financial Industry - Shariah principles influencing

regulatory framework for Islamic finance - Foundations of adequate and efficient

Islamic finance environment .

Focused Shariah Council (FSC) - Strong and harmonized legislation - Legal issues to

consider in structuring Shariah compliant products.

References

Elements of Mercantile Law – N D Kapoor

Mercantile Law – M C Shukla

Islamic Commercial Law By Muhammad Yusuf Saleem – WILEY Publishers

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II- IFC 5 D03 - ISLAMIC INSURANCE


NO. OF CREDITS - 4

Objective

To know the concepts of conventional and Islamic insurance.

To understand working mechanism of thakaful and its regulatory issu

COURSE OUTLINE

Module – 1 Conventional contract of insurance – kinds of insurance contracts – basic

principles: utmost good faith, insurable interest, indemnity, subrogation, contribution,

causaproxima.Co-insuranceRe-insurance

Module – 2 Islamic Insurance – Takaful

Islamic attitude towards risk - Muslim objections to insurance - Permitted forms of

insurance - The nature and structure of Takaful compare with conventional insurance -

The limitations of products within Islamic Insurance - How to remunerate the insurance

operator - The Shariah governance of Takaful undertakings - The risks and controls

within Takaful firms

Module – 3

Business models of thakaful – business structures and regulatory implications – shari’ah

principle governing thakaful contracts – thakaful management models.


Neo classical and neo corporatist models of Corporate Governance.

Corporate Governance Issues in the Insurance Industry.

Corporate Governance Issues in Thakaful

Reference

Takaful Islamic Insurance: Concepts and Regulatory Issues edited by Simon Archer,

Rifaat Ahmed AddelKarim, Volker Nienhaus – WILEY PUBLISHING.

Islamic Insurance: A Modern Approach to Islamic Banking ByAlyKhorshid

Islamic Insurance: Trends, Opportunities and the Future of Takaful edited by

SohailJaffer – EUROMONEY PUBLISHING.

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