Meetings of Heads of the Departments of Economics (7)

MEETINGS OF THE HEADS OF DEPARTMENTS OF
ECONOMICS AND ISLAMIC ECONOMICS IN
THE UNIVERSITIES OF THE KINGDOM OF
SAUDI ARABIA
______________________________________________

Seventh Meeting
07-08/08/1425H
(21-22/09/2004G)

With the grace of the Almighty, the 7^th Meeting of the Heads of Economics and Islamic Economics Departments in Universities of the Kingdom of Saudi Arabia was held by an invitation from the Islamic Economics Research Center, College of Economics and Management Sciences, King Abdul Aziz University, during the period 7-8/08/1425H (21-22/09/2004G.

- Agenda of the Meeting.

- Enclosures of the Meeting:

• Draft Outline of the Course in Fiqh-ul-Mu’amalaat Al-Maliyyah (Islamic Business Law).
• Description of the Course in Money and Banking.
• Memorandum on Fiqh-ul-Mu’amalaat Al Maliyyah (Islamic Business Law).

- Time and Themes of the Meeting.

Recommendations of the 7^th Meeting:

Themes:

          Teaching of the Course in Fiqh-ul-Mu’amalaat Al-Maliyyah (Islamic Business Law).

• Teaching of the Course in Money and Banking.

Participants of the 7^th Meeting of Heads of the Economics and Islamic Economics Departments recommended the following:

1. To send a letter of thanks in the name of participants to the Dean of the College of Economics and Management Sciences, Dr. Ahmed Naqqadi, for his attendance and support to the meeting, and another letter of thanks to  the Director of the Islamic Economics Research Center, Dr. Mohammad Najib Bin Ghazali and to all those who contributed their efforts to the excellent organization of the meeting and for their hospitality.

3. The participants recommended adoption of the vocabulary of the Course in Fiqh-ul-Mu’amalaat Al Maliyyah (Islamic Business Law) in the form agreed upon by the participants.

4. The participants agreed in this meeting on having the Center circulate the vocabulary of the Course in Fiqh-ul-Mu’amalaat Al-Maliyyah (Islamic Business Law), which was agreed upon, to the Departments of Economics and Islamic Economics concerned in the universities of the Kingdom of Saudi Arabia to review and decide on an appropriate course of action.

5. Have the Center invite the Colleges of Economics and Management Sciences in the Saudi universities to consider inclusion, in their syllabuses, a course in Fiqh-ul-Mu’amalaat Al-Maliyyah (Islamic Business Law) in the relevant scientific departments. This is to emphasize what has been agreed upon in this regard in previous meetings (see recommendation 5 in the 3^rd and 6^th meetings).

6. Have the Center submit to the top management of King Abdul Aziz University a memorandum delineating the importance of adopting a Course in Contemporary Fiqh-ul-Mu’amalaat Al-Maliyyah (Islamic Business Law) in the Colleges of Economics and Management in the universities of the Kingdom (showing meanwhile the difference between such course and the Islamic Culture courses) and to recommend forwarding this memorandum to the Ministry of Higher Education to circulate it to the universities for study and consideration.

7. Request the Center to undertake preparation of a textbook in Fiqh-ul-Mu’amalaat Al-Maliyyah (Islamic Business Law) within a maximum of two years from the date of this meeting.

8. Adoption of the vocabulary of the Course in Money and Banking in the final form agreed upon by participants in this meeting. The Center should circulate them to Departments of Economics and Islamic Economics in the universities of the Kingdom to review and take appropriate action.  

9. Request the Center to prepare, within a maximum of two years, a textbook in Money and Banking based on the vocabulary agreed upon, sending copies of the textbook to the Departments of Economics and Islamic Economics in the universities of the Kingdom when published, in order to have the academic committees in these departments study it and explore the possibility of adopting it as a reference for this course.

10. The participants recommend to have as the subject of next meeting (1427H) the two subjects of “Finance and Insurance from an Islamic Perspective”.

  The participants recommend to the Islamic Economics Research Center to work towards getting the necessary approval of the competent authorities to approve convening these meetings, at least, every two years.