Islamic Finance

Islamic finance is an increasingly important sector of the international finance market. No longer limited to the Middle East or Southeast Asia, there is growing interest in this market on the part of non-Muslim customers, investors, and financial institutions, and sharia-compliant financial services and products are currently offered more than 70 countries, including in the U.K. and the U.S. Yet in spite of its dynamic growth and future potential, the Islamic financial industry remains relatively unknown in the United States. This course is designed as an intensive basic introduction to Islamic (or sharia-compliant) finance and banking. It will explore the hows and whys behind the industry, its ethical and legal underpinnings, and how it interacts with the U.S. and other legal systems. No previous familiarity with the field is necessary, and there are no course prerequisites. All readings will be in English. The course is pass/fail.