This course aims at introducing the practice and theory of Islamic Banking and Finance (IBF) industry. The fact that banking and finance industry is a subset of an economic system, Introduction to global IBF industry inevitably begins with introduction to the Islamic economic system first. Hence course starts with introduction of basic principles (and purpose behind) of Islamic economics system, followed by understanding of the basics (and sources) of Islamic legal system (Shariah) together with the purpose of Shariah. Basic Shariah principles/prohibitions (and the philosophy behind) followed by IBF are then discussed at length together with the basic ethics/norms prescribed by Shariah. This is followed by a detailed understanding of Islamic law of contract – the basis on which architecture of various Islamic modes of financing are built. A thorough coverage of various Islamic financing structures include Murabaha (Cost Plus Sale), Salam (Forward Sale), Istisna (Manufacturing Sale), Mudarabah (Partnership in Profit), Musharakah (Partnership in Profit and Loss), Ijarah (Leasing), Diminishing and Running Musharakah. Liquidity, Investment and Risk Management functions of a treasury of an Islamic bank are also explained together with tools used. Specialist topics related to non-banking financial activities include Islamic Capital Markets [Sukuk (Islamic Bonds), Islamic Equity Markets, and Islamic Fund Management] and Islamic Insurance (Takaful). Throughout the course, relevant industry data/statistics and applied examples are referred to ensure that students remain abreast of the current state of affairs while applying an analytical mindset.