{"id":151,"date":"2016-12-28T05:35:08","date_gmt":"2016-12-28T05:35:08","guid":{"rendered":"http:\/\/course.oeru.org\/pibf201\/?page_id=151"},"modified":"2016-12-28T05:35:08","modified_gmt":"2016-12-28T05:35:08","slug":"overview-and-outcomes","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/pibf201\/course-guide\/overview-and-outcomes\/","title":{"rendered":"Overview and outcomes"},"content":{"rendered":"
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This micro provides an overview of basic features and goals of an Islamic economy. It explains the rationale for establishing an Islamic banking and financial system; the avoidance of riba<\/i> (interest), gharar<\/i> (uncertainty or deceptive features of business transaction), and mysir<\/i> (excessive speculation). Finally, this unit explains different modes of Islamic finance that have been developed to avoid interest.\n<\/p>\n

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After completing this unit, the students will be able to\n<\/p>\n

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  1. Summarize key elements of Islamic jurisprudence\n<\/li>\n
  2. Explain the background and rationale for Islamic banking and finance\n<\/li>\n
  3. Distinguish different modes of Islamic financial transactions.\n<\/li>\n<\/ol>\n

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