Course unit titles

Islamic Risk Management

Course unit code

MNK621

Type of course unit (compulsory, optional)

Optional

Level of course units (according to EQF: first cycle Bachelor, second cycle Master)

Master Program of Islamic Economics

Year of study when the course unit is delivered

(if applicable)

Second year

Semester/trimester when the course unit is delivered

3rd semester

Number of ECTS credits allocated

3 credits (4.8 ECTS)

Name of lecturer(s)
  1. Imron Mawardi, SP, MSi
  2. Leo Herlambang, Se.,MM 
  3. DR. M. Nafik HR, SE, MSi

Learning outcomes of the course unit

After finishing the course, students are expected to be able to discuss risks and uncertainties from an Islamic perspective and design certain risks from a sharia perspective. 

Mode of delivery (face-to-face, distance learning)

face-to-face, distance learning

Prerequisites and co-requisites (if applicable)

Fiqh Muamalah

Islamic Financial Management

Course content

Islamic risk management course discusses the concept of risk in Islam, risk and return, risk management processes, risk identification techniques, predicting the possibility of risk occurrence, knowing the impact of risk (value at risk), risk management, diversification, risk in non-financial companies, risk on the Capital Market, Risks on Takaful (Islamic Insurance), Risks on Islamic Banks

Recommended or required

reading and other learning resources/tools

1.  Tariqullah Khan & Habib Ahmed, Risk Management, Islamic Research and Training Institute (IRTI)- Islamic Development Bank, Jeddah, 2001 (TH)

2.  Mamduh M. Hanafi, Manajemen Risiko, UPP STIM YKPN, Yogyakarta, 2006 (MM)

3.  Muhammad Syakir Sula, Asuransi Syariah, Gema Insani, Jakarta, 2004. (MS)

  1. A.M. Hasan Ali, Asuransi dalam Perspektif Hukum 

Planned learning activities and teaching methods

Lectures, Lectures, Practice Questions 

Language of instructions

Bahasa, English

Assessment methods and criteria

Assignments, UTS, UAS