YPFP operates several focused series designed to provide a platform for more nuanced discussion of key foreign policy issues. Read More
Islamic Law and Finance Incubator Module
How can it be that a system that has created economies worth more than a trillion dollars has been outlawed in a number of US states? To many, Islamic law conjures up visions of arbitrary trials with draconian sentences. How can such a system be harnessed by organizations that seek to promote universal human rights? On the other hand, Islamic finance has proven to make fortunes, but how? Are observers to believe that this system really provides all that it claims, or can a system that condemns interest be little more than a pipe dream, inefficient at best, and a pyramid scheme at worst?
In this YPFP module, these questions and many others will be addressed by interacting with the same sources as Islamic legal and financial practitioners. By doing so, participants will be able to view these problems with the same perspective as the professionals in these fields. Starting with basic information about Islam, the seminars will quickly move to focus on the fundamentals of Islamic finance, how Islamic finance can be harnessed for development, and understanding the Huddud, the defined punishments in Islamic law that seem vastly out of proportion to outside observers.
Participants in this module will gain insight into how Islamic Law affects the lives of Muslims around the world, and how to apply its principles to their work across a variety of fields, ranging from development and diplomacy to human rights and personal finance. Additionally, much focus will be given to Islamic finance, helping attendees see beyond the lack of interest rates to a financial system that has the potential to challenge long-standing notions of conventional banking. Regardless of their own background, through this study participants will be able to view their objectives through a similar lens as their target audiences, helping all achieve a truly shared vision.
By the end of this module participants will be able to:
Understand the role of Islamic law in Islamic societies
Utilize Islamic legal reasoning to understand the motivations of Islamic actors
Be able to understand Islamic criminal law, specifically the Huddud, from an Islamic perspective, being especially able to advocate for clemency from within an Islamic framework
- Apply principles of Islamic finance to development plans, especially microcredit programs, in order to maximize target population participation and program viability
Last day to apply: September 20 at 5pm.
October 1: Session I - Who Cares? Why Westerners should know about Islamic Law and Islamic Finance
October 8: Session II - Shariah in Action – Islamic Law and the Changing World of Islamic Finance
October 15: Session III - Human Rights and Huddud
October 22: Session IV - Microcredit, Islam, and Development
TBD: Final cultural activity (dinner)
YPFP would like to thank Habbibi Consulting for their generous support of this Leadership Incubator module.