Course info

Sharia-Compliant Business Transactions and Global Trade EMCL-710     Credit Hours: 5

This course is designed to help the student understand:

The present reality of growing interdependence of businesses and nations in international business transactions and global trade (the global village phenomenon);

How the current global market includes Muslims entrepreneurs and their enterprises in involving in and conducting international business;

The Islamic do’s and don’ts (halal and haram) in Islamic commerce and business transactions;

The elements of Islamic business contracts and settlement of contractual disputes;

Discussion of global business opportunities and risks they may be exposed to when doing international business with people and businesses across the world;

Comparative trade and business transaction rules and procedures of foreign markets to examine the compatibility and conflict of regulations and practices to make sure they adhere to Sharia-compliant decisions and business activities;

Using international trade procedures such as letters of credit; bills of lading; airway bills; money transfer and payment procedures; insurance and freight transportation processes; and customs clearance practices;