LLM Islamic Commercial Law
| Course title: | Masters in Islamic Commercial Law LL.M |
| Apply: | direct to the University |
| Start (ft): | September |
| Mode: | full-time |
| Duration: | 1 year full-time |
| Location: | Putteridge Bury campus |
| Faculty: | The Business School |
| Department: | School of Law |
This is a new course with a first intake planned for September 2010. The course is available full-time in 2010. From the Academic Year 2011 part-time mode will be available.
Summary
The phenomenon of 'Islamic Finance' – finance products compatible with Islamic commercial law – has developed into a niche market we cannot ignore.
Major steps have been taken in the United Kingdom to integrate Islamic finance and commercial practice into law in an attempt to respond to this new challenge.
The University of Bedfordshire is, because of its history and location, in an excellent position to offer such a course.
The interest in Islamic commercial law can be explained by the increasing importance of Islamic finance due to the existence of market and finance places such as Oman and Dubai.
Additionally, Islamic finance and commercial law have received a great deal of attention because of the moral standards employed by those working in this area, standards that are the outcome of Islamic law. Indeed, in the current financial crisis, Islamic finance has been regarded as a model by which to set up new ethical standards in business.
Islamic Finance has developed into a vibrant part of the finance sector over the past decade. Islamic finance is the attempt to create financial products that are in line with the rules on commerce in Islamic law.
The most notable of these rules are the prohibitions to take interest (Riba) as well as of uncertainty (Gharar) in contracts. Many commonplace products on today's financial markets are thus problematic from an Islamic religious perspective.
Islamic finance addresses Muslim customers by creating financial products that follow Islamic law. This is done by taking over contractual models from the Islamic law on commerce and developing them into financial products that meet the needs of the modern market, such as mortgage or insurance contracts. As a relatively new financial market, the development of these products is still ongoing.
Why choose this course?
Choice of course unit options allow training in international commercial law as well as in Islamic finance and commercial law.
You will be taught by world renowned experts and benefit from a dynamic teaching and research environment.
Solid training in Islamic law and philosophy of commerce in Islam.
Growing employment opportunities both in the West, representing Muslims interests, and in Muslim countries.
Career Opportunities
The market for Islamic finance products in the West is a growing area of interest and the City of London is now a major player in the Islamic finance market.
The options open to you on graduation range from working in banks to working in international organisations such as the World Bank. Some possible career choices include:
Career within common law firms
International or Islamic Commercial or Finance Institutions and Organisations
Finance/Banking
Expert in International Banks
Career within international organizations
Academia
Consultancy
Solicitor in England and Wales
Barrister at Law in England and Wales
Legal Executive
Government Legal Adviser
Teaching/learning methods and strategies
Course units will typically be taught in a one two-hour block per week or fortnightly. Classes will be small enough to support an interactive learning environment, with group activities, and discussion.
All units will be supported by the University’s on-line learning environment, BREO, which will provide access to course materials and discussion groups.
Staff research and consultancy experience will be used to enhance teaching and learning wherever possible. The course team has strong connections with practice, through external consultancy work and links with professional bodies.
At the start of the course you will be given an extensive introduction to the use of computers, computer programmes and computer-based technology, which will help you prepare for twenty-first-century methods of teaching and learning. This is complemented by library exercises which aim to develop further skills in researching law material.
In the second term, the emphasis moves progressively to more independent forms of learning. You will be expected to adopt an analytical approach to study and a critical stance towards reading.
This is mainly done through the Dissertation unit and by way of dissertation meetings with your supervisor.
The process continues into the third term where you will be expected to operate within an increasingly independent learning context.
Assessment
There will be a spread of assessment types. In most cases, units will have at least two assessment points containing different types of assessment.
Assessment types will include essays, presentations, projects, oral presentations, group working and seminar participation.
The mix of assessment types will allow both the breadth and the depth of your knowledge to be assessed.
For example, in an individual unit, breadth of knowledge and analysis may best be tested by a presentation. By contrast, depth of knowledge and analysis may be tested by a written essay, or seminar participation.
The weighting given to assessment points reflects the contribution made to achieving the aims and objectives of the unit.
Dissertation/project and research
The dissertation is an individual project undertaken in a highly ‘self centered’ manner. The dissertation will allow you to expand on the work done in the course units.
The dissertation requires careful planning, a high level of motivation, and encourages attention to detail in both content and in presentation.
To fully prepare you for this task, there will be lectures, with a number of assessments to provide a wealth of feedback, as well as preparation for the dissertation.
Recommended reading
Essential:
Kamali, Mohammad Hashim, Islamic Commercial law: An Analysis of Futures and Options (Islamic Texts Society (June 1, 2000), ISBN 978-0946621798
Further Resources:
Ballantyne, William M., and Howard L. Stovall, eds. Arab Commercial Law: Principles and Perspectives (Chicago: American Bar Association Publishing, 2002), ISBN 9781590310120
Coulson, Noel J., Commercial Law in the Gulf States: The Islamic Legal Tradition (London: Graham and Trotman, 1984), ISBN 0860105741
Hegazy, Walid S. “Contemporary Islamic Finance: From Socioeconomic Idealism to Pure Legalism.” Chicago Journal of International Law 7, no. 2 (Winter 2007): 581–603.
Karasik, Theodore, Frederic Wehrey, and Steven Strom. “Islamic Finance in a Global Context: Opportunities and Challenge.” Chicago Journal of International Law 7, no. 2. (Winter 2007): 379–396.
Entry requirements
One of the following:
LL.B or Joint Law degree with a minimum classification of Lower Second class honours (2.2),
or
In the case of degree holders in disciplines other than law with sufficient and adequate legal content on the basis of ‘merit’,
or
Applicants with foreign qualifications on the basis of ‘individual merit’.
Special entry requirements
Applicants with English as their second language must show proof of competency in oral and written English generally to IELTS 6.5 band or above or its equivalent.
Attendance
Weekly attendance is required. Units will typically be taught in a one two-hour block per week or fortnightly. Attendance at tutorials and seminars is compulsory.
Find out more
If you need further information about the academic content of this course please contact Dr Anicée Van Engeland, LL.M Course leader.
E: anicee.vanengeland@beds.ac.uk
T: +44 (0)1234 400400 (switchboard)
Related courses
Further Study Opportunities
M.Phil or PhD
Legal Practice course/Bar Vocational Course
General Enquiries
- www.beds.ac.uk/howtoapply for information about standard entry requirements, application routes, open days, fees and funding.
- T: +44 (0)1582 489286 UK/EU Admissions
- T: +44 (0)1582 489326 International Admissions
- Order a prospectus form. Enquire about courses and order a printed undergraduate or postgraduate prospectus.
- T: +44 (0)1234 400 400 University switchboard
