Course Description:

The idea of the Islamic Capital Markets course is to shed light on the underlying principles (the theory) upon which Islamic Capital Markets are built; and the actual market transactions (the practice) in which Islamic Capital Markets take place. The course will touch on a global perspective of the actual practice of Islamic Capital Markets and will also present a comparative perspective on both, conventional and Islamic Capital Markets

Course Code: EMIF650

Credit hours: 3

Pre-Requisites: None

Learning Objectives:

Students taking Islamic Capital Markets course are expected to gain an understanding on what Islamic Capital Markets are, their components, and the main players involved. By the end of the course, students are expected to be able to draw a distinction between conventional and Islamic Capital markets as well as make a connection between the underlying theory and the actual practice of Islamic Capital Markets globally.

Course Outlines:

  • Capital Theory and Islamic Capital Markets.
  • Portfolio Theory and risk-return tradeoff.
  • Islamic Stocks.
  • The Cost of Capital
  • Future Markets.
  • Basic Principles of Options.
  • Sukuks
  • Mutual funds.
  • Institutions and Instruments of Islamic Capital Markets

Main Textbook

Islamic Capital Merkets: Theory & Practice by Noureddine Krichene

Miscellaneous online papers and others

Grading and Evaluation:

  • Minimum passing grade 70%
  • Weekly Assignments: 30% (10 assignments, 3% each)
  • Attendance:  10%
  • Mid-Term exam:  10%
  • Final exam:  10%
  • Oral exam:  20%
  • Research paper:  20%

Guidelines for Research Paper:

 1- A part of the course requirements is to submit a research paper, except for certain courses.

 2- The chosen topic must be relevant to the course and approved by the Instructor.

 3- Joint project / research is allowed, up to 3 students, and upon the instructor’s approval.

 4- The paper must meet the following requirements:

  • Consider either MLA or APA guides for writing research papers
  • Follow the standard research paper structure with a Table of Contents, Abstract or Executive Summary, Introduction, Main Body, Conclusion, List of Reference
  • The Main Body should be organized into logical chapters and paragraphs
  • When quoting Hadeeth, a notation indicating its authenticity must be clearly

E-LibraryPlease log in with your user ID & password 

Communication Etiquette:

  • If sending emails directly to the Instructor, please include appropriate label in the subject line (Action Required/Info/Admin) and allow up to 3 working days for reply.
  • Limit telephone communication with the Instructor to the office hours only.
  • When leaving a voicemail, please clearly state your name, course code, and contact number.

Additional Information:

Log in Instructions:

To attend live – online lectures (on their scheduled time):

Virtual Class Room

Access the course on-line by logging into Online School, accessible from

Guidance College Online School

You will need a user name and password to:

  • View the recorded lectures if you missed the live online ones.
  • Interact with your teacher and classmates.
  • Upload and submit your assignments, research papers, and exams.
  • View your grades.
  • All attempt must be made to submit assignments by the agreed due dates. Late submissions will be penalized.
  • Your work will be checked and graded on weekly basis, in sha Allah.

Vision Statement:

Guidance College shall be one of the top well-recognized universities in the United States that offers graduate and undergraduate degrees in specialized Islamic fields aiming at preparing moral and well-knowledgeable leaders who provide research-based Islamic alternatives that enable the Muslims to contribute to the success of their country.

Mission Statement:

Guidance College is the place where students gain their undergraduate degrees in authentic and professional specialized Islamic knowledge that recognizes modern-time realities and allows them to examine different branches of knowledge from an authentic Islamic perspective which enables them to think ethically, logically, analytically, and critically while making responsible and moral decisions aiming at improving the quality of life for all inhabitants of the earth with a full understanding and appreciation of the cultural and human differences.