2024/2025
Practical Aspects of Corporate Governance in Islamic Finance
Type:
Mago-Lego
Delivered by:
School of World Economy
When:
3 module
Online hours:
28
Open to:
students of one campus
Language:
English
ECTS credits:
3
Contact hours:
40
Course Syllabus
Abstract
The course provides a scientific and applied understanding of the methodology and practice of corporate governance, principles and methods, technologies and tools of modern management in Islamic finance. As part of the course, students will listen to a series of lectures, analyse cases in the field of corporate governance in Islamic finance and defend them before experts.
Learning Objectives
- Developing a holistic understanding of the essence and system of corporate governance within organizations operating in the field of Islamic finance. This involves acquiring knowledge of the fundamental principles, methods, technologies, and tools of modern management in Islamic finance.
- Mastering the basic concepts and functions of modern management for effective organizational management. This includes understanding the structure and relationships of both the internal and external environments of organizations providing services in Islamic finance, as well as behavioral aspects within the organization, such as influence, group interaction, power dynamics, leadership, leadership styles, and conflict management, drawing from both domestic and foreign experiences.
- Exploring the interrelations of managerial activities with other professional activities, comprehending the role of managers in managing personnel, processes, and results, and creating effective motivational mechanisms.
- Studying fundamental approaches and methods for making managerial decisions, developing analytical and interpretive skills for specific situations, setting goals, defining tasks, and finding methods for their resolution. Additionally, fostering leadership skills, shaping management styles, nurturing the corporate culture of organizations, and addressing issues related to cross-cultural interactions within the field of Islamic finance.
Expected Learning Outcomes
- Understands the origins of Islamic finance, the role of Islamic finance in the global economy.
- Understanding of the principles of corporate governance in Islamic finance
- Decision-making skills in managing financial institutions in accordance with Islamic principles;
- Ability to critically analyze and solve management problems specific to Islamic financial institutions
- Demonstrating an understanding of the socio-historical, religious context of the formation of Islamic finance and management in Islamic financial institutions
- Determining the unique features and characteristics of corporate governance of an organization providing services in the field of Islamic finance.
- Knows the main institutions of the Islamic financial system.
- Understands the main Islamic financial principles and prohibitions, familiar with their origins.
- Has a comprehensive understanding of the essence and system of corporate governance in organizations providing Islamic financial services.
- Classifies the main Islamic financial instruments.
- Familiar with the procedure for preparing an independent auditor's report.
- Identifies the characteristics of the organizational culture of Islamic financial institutions, their commercial and business ethics.
Course Contents
- Topic 1: Introduction to Islamic Finance
- Topic 2: Institutional structure of the Islamic financial system.
- Topic 3: Principles of Islamic financial system
- Topic 4: Corporate governance in the Islamic financial system.
- Topic 5. Islamic financial instruments.
- Topic 6: Internal audit in Islamic finance
- Topic 7. Corporate culture of Islamic financial institutions
Assessment Elements
- Participation at the class work
- HomeworkHomework is the solution of a case study on the entry of a foreign company into the Russian market in groups of 3 to 5 people and presentation of the results of work in the format of a presentation at the class.
- ExaminationThe for of the examination is a solution of the final case on one of the companies of the Islamic finance sector in groups of 3 to 5 people and the presentation of the results of work in the format of a presentation at the class.
Interim Assessment
- 2024/2025 3rd module0.5 * Examination + 0.25 * Homework + 0.25 * Participation at the class work
Bibliography
Recommended Core Bibliography
- Литау, Е. Я. (2016). Международные финансы: исламский банкинг как перспективная альтернатива традиционной системы финансирования. Ekonomika i Upravlenie / Economics & Management, 132(10), 68–74.
Recommended Additional Bibliography
- Исламский банкинг, Журавлев, А. Ю., 2017