Atlas Shrugs -hat tip for the article!
Sharia enters the classroom.
FYI – Here’s a course announcement from the MIT Sloan School of Management
Spec Sem in Mgmt: Practice of Finance: Islamic Finance
Islamic financial institutions have in recent years experienced spectacular growth (+25% in 2006, +37% in 2007). Islamic financial assets now exceed 1 trillion dollars and what was once a small niche has gone mainstream. Indeed, most major Western financial institutions are involved in one way or another in Islamic finance. The first part of the course introduces the basic principles underlying the industry (the prohibitions of riba, gharar, etc.) and discusses its recent evolution. The second part focuses on the main Islamic products: murabaha, mudaraba, musharaka, ijara, sukuk, takaful, etc. and explains how Islamic deals are structured. The third part discusses the challenges – competitive, regulatory, political, religious, etc. – faced by Islamic institutions and considers the impact of the current financial meltdown on their future evolution.
T (H1) 4:00 PM-7:00 PM