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LLM Curriculum

Islamic Law and Finance

CML5677F

THIS COURSE IS NOT ON OFFER IN 2016

Course Outline:

Course Co-ordinator:
Dr W Amien

Prerequisites:
See Rules for LLM and MPhil Degrees and Postgraduate Diplomas.

Course outline:

This course will provide law graduates, legal professionals and practitioners in the finance sector with the necessary knowledge about the laws relating to Islamic finance and its interaction with South African law as well as comparative perspectives of Islamic finance from across the African continent and further abroad. The course will include a consideration of: the theory of Islamic economics; legal personality as understood in Islamic law; general and classical Islamic economic instruments; and Islamic financial instruments. It will also focus on the interaction between Islamic financing agreements and South African law. With reference to the Income Tax Act 58 of 1962, it will concentrate on the taxation of Islamic financing arrangements, with particular emphasis on the application of the legislative provisions and the effect of section 24JA. Finally, the course will offer comparative insights into Islamic financing drawn from the African region and the international arena.

Assessment:
Class presentation : 10%

Assignment/research paper: 30%

Examination: 60%

The presentation will be on the chosen or given assignment/research paper.