Title: EXPLORING MULTI-DOMAINS OF ISLAMIC FINANCE EDUCATION CURRICULUM
Abstract: With exponential growth in the Islamic financial services industry(IFSI), issues on the quality of Islamic finance curriculum andprofessional development, relevant to the sustainability of the IFSIhave been raised in both academia and industry. In particular, thedefinitions of Islamic finance and program nomenclature of Islamicfinance programmes need clarification and systemization to facilitatethe development of meaningful and coherent Islamic financeeducation initiatives. The fundamentals of Islamic education and itsrelevance to Islamic finance, are highlighted in this concept paper toemphasize the importance of the nature of man as an ethical being,infused with right and proper knowledge in Islamic financeeducation. Derived principles involving finance behaviour withreference to ‘efficiency’ or ‘opportunistic gains’ are re-examined inthe light of Shari’ah based on the sources of belief, values andpractice of the Religion of Islam. This is to facilitate clarity in thedefinition of Islamic finance and the purpose of Islamic financeeducation. Furthermore, the Malaysian Qualifications Agency(MQA) Muamalat Islamic Finance (MIF) Standard was analysed toexplore the domains for an inclusive Islamic finance curriculumdomain framework to facilitate the development of ‘fit and proper’Islamic finance educators and professionals. Shari’ah prescribedguiding principles and rulings are then discussed within the legaland economic perspectives of banking, capital markets andtakaful/insurance. This paper reaffirms the essence of Islamic financeeducation, given proper adab and akhlaq, in realizing the goals ofthe maqasid al-Shari’ah in Islamic finance.
Publication Year: 2017
Publication Date: 2017-01-01
Language: en
Type: article
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Cited By Count: 1
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