SOUTHERN CONNECTICUT STATE UNIVERSITY
SCHOOL OF BUSINESS
DEPARTMENT OF ECONOMICS AND FINANCE
SPRING 2006

WEATHER CHECK NUMBER: 392-7669

COURSE NO:
FIN 499
COURSE TITLE:
Independent Study: Islamic Finance - Takaful
COURSE DESCRIPTION:
A study of Islamic Insurance (Takaful)
PREREQUISITES:
Permission of the Instructor
PROFESSOR:

Dr. Robert M. Eldridge.
Tel: (H)876-5046
(O)
392-5628; Seabury Hall 304
email: eldridger1@southernct.edu

OFFICE HOURS:
Tues: 1400-1630;
Wed : 1700-1900;
Thurs : 1700-1900;
or by appointment
CLASS HOURS:
Fri: 1000-1230, Sea 304
MATERIALS:

1. Required:
a. "Al Qur'an", translated by Ahmed Ali, Princeton Univ Press, 1993

b. Fiqhs/Fatwas, Harvard Islamic Finance Information Program.
c. Web sites as available.
d. Press articles as available
e. Islamic Finance Summit conference notes, London, 2005,2006


COURSE OBJECTIVES:
The objective of this course is to establish a basic understanding in the concept of islamic Insurance known as Takaful.
METHOD OF INSTRUCTION:
The course will include discussions, readings and research.

METHOD OF GRADING:
A paper due at the end of the course demonstrating mastery of the learning objectives.
PAPER TOPIC:

The term paper will address the following aspects of takaful:
a. What are the basic concepts of Islamic finance.
b. What are the concepts of conventional, "western -style" finance that are not acceptable in Islamic finance.
c. What basic issues are addressed by "western-style" insurance.
d. What differentiates Takaful from "western-style" insurance.
e.What are the religious underpinnings of the Qu'ran that affect Takaful.

EXPECTATIONS:

 

ASSIGNMENT SCHEDULE

Date
Topic
Assignment
Remarks
Jan 27* No class    
Feb 03 Introduction. What is Islamic Finance    
Feb 10 Readings from the Qur'an    
Feb 17 Readings from Fiqhs    
Feb 24 Readings    
Mar 03 Readings    
Mar 10 Readings    
Mar 17 Readings    
Mar 24 Spring break    
Mar 31* No Class    
Apr 07 Paper draft    
Apr 14 Readings    
Apr 21 Readings    
Apr 28 Readings    
May 05 Readings    
May 12 Readings    
May 18 Paper due    
* There will be no classes on these dates. Make ups will be scheduled.
WebSites

1. www.takaful-malaysia.com
2. www.islamic-banking.com
3. www.islamic-finance.com