- Code MEAS8124
- Unit Value 6 units
- Offered by Centre for Arab and Islamic Studies
- ANU College ANU College of Arts and Social Sciences
- Course subject Middle Eastern & Central Asian Studies
- Areas of interest Arab and Islamic Studies, Development Studies, Asian Studies, Middle East Studies, Political Economy
- Academic career PGRD
- Mode of delivery In Person
- Offered in See Future Offerings
This course provides an introduction to the concept of Reba, developments in our understanding of it over the centuries, and its role in modern Islamic banking. The course will begin with a discussion of pre-Islamic debt (Jahilia) and then consider the meaning of Reba, which is a highly contested term, but is often interpreted as usury or interest rates or unjust debt, and examine the evolution of judicial interpretation of Reba. The impact of Reba on debt and trade will be examined. Modern interpretations of Reba will consider the financial instruments used in Islamic banking to manage the prohibition of Reba. Case studies will include Saudi Arabia and Malaysia. The course takes a qualitative approach to understanding these issues and does not require prior knowledge of quantitative techniques.
Upon successful completion, students will have the knowledge and skills to:
- understand the various ambiguities in the prohibition on Reba and how modern banking systems circumvent or manage the prohibition;
- understand Islamic government laws on the prohibition of Reba;
- analyse and apply modern Islamic banking principles in the context of standard western financial instruments; and
- communicate these understandings and applications in writing.
Indicative Assessmentresearch essay, 4500 words, 50% (LO 1-4)
final examination during the examination period, 2 hours, 50% (LO 1-4)
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Workload130 hours, consisting of 12 x 2-hour lectures and 104 hours of private study and assessment preparation.
Prescribed TextsSet readings will be listed in the course outline
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- Unit value:
- 6 units
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