Prof. Mohammad Al-Jarf Umm Al-Qura University- Saudi Arabia Presented to: International symposium on: Development of perspectives of Islamic Financial Markets in Azerbaijan, Baku, 25 Sep,2012 8/25/20151

Introduction Interest in Islamic banking is growing worldwide especially in Switzerland and UK. In UK, there are Islamic banks. Faisal Islamic Bank in Switzerland. Conferences on Islamic banking and financing are becoming very popular. Islamic wealth management events. Dow Jones Islamic Index. Training programs on Islamic banking. Most of Silk Road countries are Islamic. 8/25/20152

Aims of Study To describe an online collaborative project in which Islamic Banking and Finance instructors from several eSilk Road countries and Saudi Arabia and their undergraduate students participated. 8/25/20153

Aims of Project  To share knowledge and expertise in Islamic Banking and Finance by instructors and students at universities in eSilk Road countries.  To build a qualified staff in Islamic Banking and Finance. 8/25/20154

Background Azerbaijan :  An Islamic country.  A silk road country.  Gross Domestic Product – GDP: US$ billion (2011 estimate).  Total population 2010: 9.05 million.  Population median age: 28.0 years (2006).  Adult literacy: 99% ((2000/2007). 8/25/20155

Background  Internet users as % of total population: 35.99% (Data were released in 2011 and refer to 2010). WORLD'S BEST INTERNET BANKS 2009: COUNTRY WINNERS / Best Consumer Internet Banks Rakbank (2009) COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Rakbank (2009) WORLD'S BEST EMERGING MARKET BANKS 2012: COUNTRY WINNERS International Bank of Azerbaijan (National, 2012) 8/25/2015

Participants (1) Countries: S. Arabia, ……. (2) Universities: Umm Al-Qura University, ……. (3) Instructors: Mohammad Al-Jarf, ………. (4) Students: Junior. 8/25/20157

Islamic Banking and Finance Course Outline Sample topics to be taught: 1. What is Islamic banking and finance. 2. What are the principles of Islamic banking and finance. 3. What is the difference between Islamic banking and non-Islamic banking. 8/25/20158

Sample Assignments: Sample discussions topics: Sample links: Sample documents: Sample references: 8/25/20159

Procedures  An online course with Nicenet ( was created.  Students are given the class key and are asked to enroll themselves.  All instructors serve as course administrators.  Students can access the online course from home or computer lab.  Prior experience in online instruction by students is not necessary.  Elementary experience with online instruction by instructors is necessary. 8/25/201510

l Posted questions and discussion threads in “Conferencing”. l Added vocabulary websites in “Link Sharing”. l The students checked links & responded to the questions and threads. l They could add websites & post any topic. 8/25/201511

Online Instruction l Each week, we can post questions and a discussion thread related to the topics taught that week in “Conferencing”. l Add websites related to the topic taught that week in “Link Sharing”. l The students check the links & respond to the questions and threads. l They can add websites & post discussion topics documents or questions related to the topic under study. 8/25/201512

Before instruction, all the students can be given a pre-test in Islamic banking and finance. At the end of the semester, they can all be given the same posttest. They can also respond to a post-treatment questionnaire and to give their views of their experience with online instruction. Instructors can discuss difficulties that they had and how those can be overcome in later courses. 8/25/201513

Instructors’ Role  Before instruction starts, all the instructors sharing the course can agree upon the topics to be covered over the whole semester and each week.  The online course can be used as a supplement to in- class instruction.  Use online course asynchronously.  Instructors provide students with training in using Nicenet.  They select and post discussion threads, documents and external links.  They brainstorm discussion threads before and after the students post messages. 8/25/201514

Instructor’s Role l Serve as a facilitator. l Provide help and technical support. l Send private and group messages l Respond to students’ needs. l React to students’ posts. l Give extra credit for participating. l They provide students with feedback. l They post responses to the discussion threads. 8/25/201515

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